Fair Claim Amount definition

Fair Claim Amount in respect of any Vendor Claim, the amount of damages reasonably likely to be awarded to the Purchaser or JSGP pursuant to such Vendor Claim in the event of that Vendor Claim being finally judicially determined to be in favour of the Purchaser or JSGP, as agreed between the Vendor and the Purchaser and/or JSGP (as appropriate) or failing agreement, as determined pursuant to Clause 4.5(d)(i).
View Source

Examples of Fair Claim Amount in a sentence

  • Similarly, in respect of every Vendor Claim that shall be made thereafter, the Vendor and the Purchaser and/or JSGP (as the case may be) shall seek to agree the Fair Claim Amount in respect thereof.

  • Upon the final determination and, if relevant, discharge of each relevant Vendor Claim, the Outstanding Fair Claim Amount shall be reduced by an amount equal to the relevant Fair Claim Amount.

Related to Fair Claim Amount

  • Claim Amount has the meaning set forth in Section 5.3(b).

  • Deficiency Claim Amount has the meaning set forth in Section 5.5(a).

  • Product Liability Claim means a Claim of a Third Party (other than a Claim arising out of use of the Product in a clinical trial) that (i) arises as a result of the use of the Product during the Term that results in personal injury or death or (ii) is in anticipation of or intended to prevent or forestall personal injury or death as a result of the use of the Product during the Term.

  • Indemnity Amount means the amount of any indemnification obligation payable under the Basic Documents.

  • Expected Claim Notice means a notice that, as a result of a legal proceeding instituted by or written claim made by a third party, an Indemnified Party reasonably expects to incur Damages for which it is entitled to indemnification under Article VI.