Estimated Liability definition

Estimated Liability means in relation to an Outstanding Claim, a genuine and bona fide estimate of the amount of the party’s liability to the Buyer if the Outstanding Claim were to be resolved in the Buyer’s favour, as agreed or determined in accordance with clause 14.2.

Estimated Liability has the meaning given in Clause 9.6(d);

Estimated Liability has the meaning given to it in paragraph 4.4;

Examples of Estimated Liability in a sentence

• Notwithstanding anything else herein, the State's total liability under this Contract (including without limitation any exhibits, schedules, amendments or other attachments to the Contract) or otherwise shall under no circumstances exceed the Estimated Liability.

• For a Counter-Party that has QSEs representing both LSE and Resources, ERCOT shall calculate the Counter-Party’s IEL using the following formula: IEL = DEL * Max [0.1, RTEFL] * RTAEP * (M1 + M2) + DEG * Max [0.1, RTEFG] * RTAEP * (M1 + M2)The above variables are defined as follows: Variable Unit Description IEL $ Initial Estimated LiabilityThe Counter-Party’s Initial Estimated Liability.

• No additional funding shall be allocated for these certifications, authorizations, or audits as these are included in the Estimated Liability of this Contract.

• For a Counter-Party that has all its QSEs representing only Resources, ERCOT shall calculate the IEL using the following formula: IEL = DEG * Max [0.2, RTEFG] * RTAEP * (M1 + M2)The above variables are defined as follows:Variable IEL $ Initial Estimated LiabilityThe Counter-Party’s Initial Estimated Liability.

• For a Counter-Party that has all its QSEs representing only LSEs, ERCOT shall calculate the IEL using the following formula: IEL = DEL * Max [0.2, RTEFL] * RTAEP * (M1 + M2)The above variables are defined as follows: Variable IEL $ Initial Estimated LiabilityThe Counter-Party’s Initial Estimated Liability.

More Definitions of Estimated Liability

Estimated Liability the amount claimed in good faith by the Buyer in respect of a Claim.

Estimated Liability has the meaning given to it in paragraph 2(E) in Schedule 13 (Set-Off);

Estimated Liability in relation to an Outstanding Claim, an amount agreed by the Buyer and the Seller’s Representative in writing to be a reasonable and bona fide estimate of the amount of the Seller’s liability to the Buyer if the Outstanding Claim were to be resolved in the Buyer’s favour, or, in the absence of such agreement, the amount specified to be a reasonable and bona fide estimate of the amount of the Sellers’ liability to the Buyer in respect of such Outstanding Claim in a written opinion of Counsel to be addressed to the Buyer and the Sellers’ Representative (provided that Counsel is prepared to address his opinion to both the Buyer and the Sellers’ Representative) in which Counsel opines that the Outstanding Claim has a greater than 50% chance of succeeding.

Estimated Liability has the meaning given to that term in paragraph 6 of Schedule 7;

Estimated Liability in relation to an Outstanding Claim, a genuine and bona fide estimate of the amount of the Sellers’ liability to the Buyer if the Outstanding Claim were to be resolved in the Buyer’s favour, as agreed or determined in accordance with clause 8.4;

Estimated Liability the amount claimed by the Buyer in respect of a Claim. FCC Approval has the meaning provided in paragraph 1 of Schedule 3.

Estimated Liability means the estimated quantum of damages payable in respect of a Claim (as defined in clause 9.1) which has not been settled in accordance with clause 9.4;