Deemed Liability definition

Deemed Liability has the meaning given in Clause 46.7.3;

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Deemed Liability means the circumstances in which the PPP Co would have had an Actual Liability but for the utilisation of a Relief, other than a Relief derived from the Project.

Deemed Liability means the circumstances in which PPP Co. would have had an Actual Liability, but for the utilisation of a Tax Relief [other than a Tax Relief derived from the Project];