Gross Sum definition

Gross Sum has the meaning set out in Clause 3.3;
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Gross Sum means the total financial consideration paid to Owner in connection with the sale reduced by any reserves or purchase price hold-backs required to be established by Owner (but only if, and to the extent, such reserves or hold-backs actually are retained by the purchaser, unless disbursed to Owner for reimbursement of Owner's cost to repair or remediate pursuant to the purchase and sale agreement). As used herein, the term "Affiliate" shall mean any person or entity directly or indirectly controlled by, controlling or under common control of Owner or The Mart▇▇ ▇▇▇up of Companies, Inc., a California corporation ("TMG"); any partnership, corporation or other entity resulting from the merger or consolidation of Owner; any partnership, corporation or other entity in which Owner or a constituent partner of Owner or TMG owns an interest; any person or entity which acquires all or substantially all of the constituent interests in Owner or TMG, any person or entity who is a partner or has an ownership interest directly or indirectly in any of the foregoing."
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Examples of Gross Sum in a sentence

  • The value of the “Total or Gross Sum Bid” combined with the estimated value of all Direct Costs, submitted by the Contractor in the bid, will be the “Authorized Fee Limit” unless unexpected subsurface or site conditions are encountered or a change in drilling methodology is required and is approved by the Engineer.

  • The Revised Amount shall be the Consideration paid, provided that the Gross Sum shall be the applicable Consideration amount for the purposes of such Seller’s aggregate liability pursuant to Schedule 4.

  • In compliance with the New York State Omnibus Procurement Act of l992, if the Gross Sum Bid or the Lump Sum enumerated in the Bid is equal to or greater than one million dollars, this ARTICLE shall apply to this Contract.

  • As used herein, Net Sales Proceeds shall mean the Gross Sum paid to Owner in connection with the sale, less the sum of the following, if and to the extent applicable: all closing costs, escrow fees, title insurance costs, recording costs, survey costs, brokerage or selling commissions or fees, finder's fees, attorneys' fees, closing prorations and other costs or expenses reasonably and necessarily incurred, in connection with such sale.

  • The value of the “Total or Gross Sum Bids” combined with the estimated value of all Direct Costs, submitted by the Contractor in the bid, will be the “Authorized Fee Limit” unless unexpected subsurface or site conditions are encountered or a change in drilling methodology is required and is approved by the Engineer.

  • As used herein, the term "Gross Sum" shall mean the total financial consideration paid to Owner in connection with the sale reduced by any reserves or purchase price hold-backs required to be established by Owner (but only if, and to the extent, such reserves or hold-backs actually are retained by the purchaser, unless disbursed to Owner for reimbursement of Owner's cost to repair or remediate pursuant to the purchase and sale agreement).