Leakage Claim has the meaning given in clause 5.5;

Leakage Claim means a claim under the indemnity in Clause 4.5 or Clause 4.6, as applicable;

Examples of Leakage Claim in a sentence

If any Party disputes any Claims relating to any Leakage (“ Leakage Claim Dispute”), the dispute shall be resolved in accordance with the provisions of Schedule 7.
Any payment made under this Agreement pursuant to a Leakage Claim shall be treated as an adjustment to the Consideration.
Nothing in this clause 7 shall apply to limit the liability of any Sellers in respect of any Leakage Claim which arises or is increased as a consequence of, or which is delayed as a result of, fraud, wilful concealment, wilful misconduct or dishonesty by that Seller or any of their Related Persons or any of their respective directors, officers, employees or agents and this clause shall have overriding effect against all other provisions of this Agreement.
Subject to clause 7.5, a Seller shall not be liable for a Leakage Claim unless the Buyer has given that Seller or the Sellers’ Representative written notice of it on or before the date which is 9 months following the Completion Date.
If any payment is made by the Sellers to the Buyer in respect of any Leakage Claim, Claim or Tax Claim, the payment shall be made by way of adjustment of the consideration paid by the Buyer for the Shares under this Agreement and the consideration shall be deemed to have been reduced by the amount of such payment.

More Definitions of Leakage Claim

Leakage Claim means any Claim by the Purchaser in connection with any actual or alleged breach, untruthfulness, incorrectness and/or inaccuracy of the Seller Warranties under paragraph 7 (No Leakage) of Schedule 5;

Leakage Claim means a claim for a breach by any Minority Seller of the warranty or undertaking in clause 5.1;

Leakage Claim has the meaning set forth in Section 3.4(d).

Leakage Claim means a claim for any breach of Clause 3.1.

Leakage Claim means a written demand for payment under Clause 5.3;

Leakage Claim a claim against the Sellers whether in contract or otherwise, under paragraph 2 of Schedule 2;

Leakage Claim means any claim made pursuant to Clause 12; “Liability Cap” has the meaning given to it in Clause 10.1;