Compromised Claims definition
Examples of Compromised Claims in a sentence
Notwithstanding the foregoing, any Administrative Claims that are covered by surety bonds, letters of credit, or other security shall not be eligible for deferral or compromise unless the applicable claim holder waives any right to such surety bond, letter of credit, or other security on account of such Deferred Claims or Participating Claimant Compromised Claims.
The Seller shall retain, and shall be responsible for paying, performing and discharging when due, and the Purchaser shall not assume or have any responsibility for, any and all Liabilities of the Seller (including, without limitation, the Compromised Claims) other than the Assumed Liabilities (the “Excluded Liabilities”).
Disclosure of the transactions contemplated by this Agreement to the holders of the Compromised Claims, other creditors, members and equityholders of Seller and/or public authorities, as may be reasonably required or advisable pursuant to applicable labor, bulk sale or insolvency laws, the form of such disclosures previously having been provided to and approved by the Purchaser and its counsel, as to their form and substance.
Except as set forth on Schedule 4.14, there are no Liabilities of the Seller other than the Compromised Claims or Liabilities which have been or will be satisfied at or prior to Closing.
The Seller and certain third parties shall have executed and delivered compromise or similar agreements (the “Compromise Agreements”), on terms acceptable to the Purchaser, with respect to the payment of the Compromised Claims.
All Compromised Claims shall have been settled to the reasonable satisfaction of the Purchaser.