Leakage Event definition

Leakage Event has the meaning set forth in Section 6.01.
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Leakage Event means any of the following that occurs from (and including) the Cut-off Time up to (and including) Completion, but excluding any action taken in accordance with, and not otherwise restricted by, the terms of this Agreement:
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Examples of Leakage Event in a sentence

  • Each Seller agrees to promptly notify Purchaser in writing of the taking of any of the actions or the occurrence of any of the events set forth in clauses (a)-(g) of this Section 6.01 during the Lockbox Period (each of the foregoing items, a “Leakage Event”), including the Leakage Impact resulting from any such Leakage Event, immediately upon becoming aware of any such Leakage Event and to include the Leakage Impact resulting from such Leakage Event in the calculation of Closing Equity Value.

  • The Parties agree that prior to Closing the net amount of (a) the Intercompany Loans owed by Acquired Company Affiliates to the Acquired Company Entities minus (b) the Intercompany Loans owed by the Acquired Company Entities to the Acquired Company Affiliates shall be a Leakage Event referred to in clause (e) above.