Interim Resolution definition
Examples of Interim Resolution in a sentence
The written demand shall describe with reasonable particularity the matter(s) in dispute and the relief sought by the party initiating the Interim Resolution.
The Interim Resolution Decision shall include the factual findings and legal conclusions which form the basis therefor.
In the event Landlord disputes whether Tenant is entitled to indemnity or in fact Landlord breached the Master Lease, Landlord may require that the dispute be submitted for Interim Resolution pursuant to Section 18.1 prior to the payment of Tenant's demand.
Pursuant to the application filed by Auroma Coke Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, CIRP was initiated against the Corporate Debtor in CP No. T.P. 17/KB/2022 and appointed Mr. ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ as Interim Resolution Professional (“IRP”) by order of Hon’ble National Company Law Tribunal, Kolkata Bench (“NCLT”) dated 02nd May 2024.
In the event of an insolvency of the Lessee or its holding company or, in case of a consortium, the lead member, it is agreed that the Authority shall not be liable towards the Interim Resolution Professional, Resolution Professional, liquidator or any third party including the lenders for any costs, damages or payments including but not limited to the construction cost incurred by the Lessee under this Agreement.
Any dispute in regard to this Tenant Work Letter shall be resolved by Interim Resolution.
In the event Landlord fails to pay Tenant's demand in a timely manner and Landlord does not require that such Claims be submitted for Interim Resolution, Tenant may offset the amount of its Claims and expenses subject to the Offset Limit specified in Section 23.1.
In the event a party suffers harm due to any variation between relief granted in the Interim Resolution Decision and the final judgment in the court action (or the award in any required Master Lease Arbitration), the judgment in the court action shall include appropriate damages and such other relief as may be needed to compensate for such harm.
In the event of insolvency of the Lessee or its holding company or, in case of a consortium, the lead member, it is agreed that the Authority shall not be liable towards the Interim Resolution Professional, Resolution Professional, liquidator or any third party including the lenders for any costs, damages or payments including but not limited to the construction cost incurred by the Lessee under this Agreement.
If no action is filed or Master Lease Arbitration initiated within sixty (60) days after issuance of the Interim Resolution Decision seeking to litigate factual or legal matters covered by such Interim Resolution Decision, the particular Interim Resolution Decision shall become final and binding on Landlord and Tenant.