Leakages definition

Leakages means any payments made by any Group Company to or in favour of the AGR Group and/or FieldCo Invest AS between the Locked Box Date and the Closing Date in breach of Clause 3.3;
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Leakages means, with respect to the SPV, any indebtedness or liability different from those indicated in the Reference Financial Statement and/or any payment (other than payments made by the SPV in favor of its relevant counterparties according to the Project Contracts and/or expressly authorised by the Purchaser) and/or any cash extraction made following the Reference Date (excluded) other than payments made in the ordinary course of business and required by Applicable Laws and Regulations. For the sake of clarity, any repayment of the Shareholder Loan Receivables will not be considered, for the purposes of this definition, as a payment made in the ordinary course of business;
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Leakages means, with respect to a SPV, in the period between the Reference Date (excluded) and the Closing Date (included): (i) any payment of any dividend (in cash or in kind) or other distribution of profits or assets, or any payments in lieu of any dividend or other distribution, paid or made, or agreed to be declared, or any repurchase or redemption of quota (including any reduction of capital or repurchase of securities) of that SPV paid or agreed to be paid by such SPV to the Seller and/or its Affiliates or any of their Related Parties (other than the SPVs); (ii) any payment or repayment or transfer of assets in payment or repayment of principal of interest or principal amount by such SPV to or for the benefit of the Seller and/or its Affiliates or any of their Related Parties (other than the SPVs); (iii) any other payment or cash extraction of whatever nature, other than those set forth above, made or agreed to be made by that SPV to the Seller and/or its Affiliates or any of their Related Parties (other than the SPVs) by whatsoever form or means (including reimbursement of quotaholders’ loans (either for capital or for interests) or of any other kind of contribution made to that SPV);
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Examples of Leakages in a sentence

  • In the case where the upstreaming or cross-streaming of cash is done by way of loan, the Leakages attributable to the making of such loan shall be calculated on the basis that the average life of such loan is equal to the remaining life of the Facilities.

  • Leakages of liquids, greasy matters, colourings or corrosive products, inside the luggage.

  • Leakages of dangerous (e.g. explosive, toxic, hot) substances must be discharged such that no danger to people or the environment occurs.

  • Leakages and seepages should be identified in all main system valves, and Shell shall cause Owner to utilize reasonable efforts to minimize these cycle losses.

  • The amount of the Leakages mentioned in the Leakage Certificate (the Compensatory Amount) shall be deducted from the Estimated Purchase Price in accordance with the provisions of clause 3.2.

  • Leakages and seepages should be identified in all main system valves, and reasonable efforts will be made by the Owner’s to minimize these cycle losses.

  • The liability of the Sellers pursuant to Clause 3.3 is the Buyer’s sole and exclusive remedy with respect to Leakages.

  • If Leakages are disclosed to the Purchaser and are adjusted while determining the Purchase Consideration in the terms of this Agreement including Clause 3, then occurrence of such Leakages shall not be considered as a breach by the Sellers of this Agreement with respect to such Leakages.

  • Participation in such a telephonic meeting shall constitute presence in person at such meeting.

  • It is specified that any amount due as Estimated Leakages under this Agreement shall be construed as an adjustment to the Purchase Price.