Determined Claim definition
Examples of Determined Claim in a sentence
The resulting compensation for Loss shall be determined either by agreement of the Parties or by decision of the Expert pursuant to Section 7.2. The adjustment of all such Claims, as so determined, is hereinafter referred to as the "Determined Claim Amount", and shall be an adjustment to the Purchase Price.
The value of each Determined Claim shall be increased to include interest thereon at the sole discretion of the arbitral tribunal referred to within Clause 14.
Failure to so object in a timely manner shall constitute a final and binding acceptance of the Indemnification Claim by the Indemnitor, and the Indemnification Claim shall be paid in accordance with subsection (d) hereof as a Finally Determined Claim (as that term is defined below).
If the Seller is obligated to indemnify a Buyer under this sub-Clause (f) pursuant to its obligations under Clause 8.1, it shall pay the indemnified amount (as determined in accordance with the limitations of liability set out in this Clause 8) within 15 Calendar Days of the indemnification claim by the Buyer in relation to the Third-Party claim becoming a Determined Claim.
In addition to any Determined Claim Amount, the loser of the arbitration proceeding shall pay to the other Party a penalty (as a discouragement to bringing losing claims) equal to 50% of the difference between the respective amounts sought in the Party's Expert Submissions.