Material Fraud definition

Material Fraud means:
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Material Fraud is defined as an aggravated form of Fraud of which the Intent is significant enough to, on the balance of probability, have an impact on the continuity of any of the Service Parties, such as, but not limited to the Intent to structurally exploit a bug, error, vulnerability, or weakness, technical, legal, financial or otherwise as meant in section 9.2.
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Material Fraud under R.C. 1305.08(B) means fraud that has so vitiated the entire transaction that the legitimate purposes of the independence of the issuer’s obligation can no longer be served.
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Examples of Material Fraud in a sentence

  • In the event either party (the “Claimant”) believes that a Material Breach, a Material Fraud, or Material Willful Misconduct has been committed by the other party (the “Breaching Party”), or this Agreement otherwise explicitly provides that the provisions of this Section 10.4(g) apply, the parties shall resolve such matters in accordance with the dispute resolution procedures set forth in Section 11.12(b).

Related to Material Fraud

  • Misrepresentation means an untrue statement of a material fact or an omission to state a material fact required or necessary to make the statements contained therein not misleading in light of the circumstances in which they are made.

  • Material means material in relation to the business, operations, affairs, financial condition, assets or properties of the Company and its Subsidiaries taken as a whole.