Escheat Liability definition

Escheat Liability means any unclaimed property or escheat liability, including any interest, penalty, administrative charge, or addition thereto and further including all costs of responding to or defending against an audit, examination, or controversy with respect to such liability, imposed by or on behalf of a governmental entity with respect to any property or obligation (including, without limitation, uncashed checks to vendors, customers, or employees and non-refunded overpayments).
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Examples of Escheat Liability in a sentence

  • In -------------------------------------------- connection with the Acquisition, Seller shall assume at Closing all liability (including, without limitation, liability under escheat and unclaimed property laws, including interest, fines and penalties) for any and all uncashed checks issued by the Acquired Companies that are summarized on Schedule 1.4 hereto (the "Escheat Liability").

  • Semiconductor shall be liable for, and shall indemnify and hold harmless the SunEdison Group from and against any liability for, without duplication: (i) Semiconductor Taxes; (ii) any Tax resulting from a breach by Semiconductor of any covenant in this Agreement, the Separation Agreement or any Ancillary Agreement; (iii) any Semiconductor Incentive Liability; and (iv) any Semiconductor Escheat Liability.

  • SunEdison shall be liable for, and shall indemnify and hold harmless the Semiconductor Group from and against any liability for, without duplication: (i) SunEdison Taxes; (ii) any Tax resulting from a breach by SunEdison of any covenant in this Agreement, the Separation Agreement or any Ancillary Agreement; (iii) any SunEdison Incentive Liability; and (iv) any SunEdison Escheat Liability.

  • SunEdison shall be liable for, and shall indemnify and hold harmless the SSL Group from and against any liability for, without duplication: (i) SunEdison Taxes; (ii) any Tax resulting from a breach by SunEdison of any covenant in this Agreement, the Separation Agreement or any Ancillary Agreement; (iii) any SunEdison Incentive Liability; and (iv) any SunEdison Escheat Liability.

  • SSL shall be liable for, and shall indemnify and hold harmless the SunEdison Group from and against any liability for, without duplication: (i) SSL Taxes; (ii) any Tax resulting from a breach by SSL of any covenant in this Agreement, the Separation Agreement or any Ancillary Agreement; (iii) any SSL Incentive Liability; and (iv) any SSL Escheat Liability.

Related to Escheat Liability

  • Net Liability as used herein is defined as the Company's gross liability remaining after cessions, if any, to other pro rata reinsurers.

  • Hovercraft Liability This policy does not cover "hovercraft liability".

  • Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, obligation or any other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set forth therein) be deemed to be the outstanding principal amount (or maximum outstanding principal amount, if larger) of the debt, obligation or other liability guaranteed thereby.

  • UK Bail-in Liability means a liability in respect of which the UK Bail-in Powers may be exercised.

  • Aircraft Liability This policy does not cover "aircraft liability".