Minor Claim definition

Minor Claim has the meaning set forth in Section 11.2(b).

Minor Claim means a claim for an amount, including interest, of not more than $7 500, whether as a balance or after an admitted set off, reduction by any amount paid by or credited to the defendant, abandonment of any excess, or otherwise.

Minor Claim shall have the meaning ascribed to such term in Section 22.12.

Examples of Minor Claim in a sentence

• With respect to any claim other than a Minor Claim, Agent may participate in any such proceeding and Borrowers will deliver to Agent all instruments necessary or required by Agent to permit such participation.

• Agent agrees that proceeds of any Minor Claim may be made available directly to the Borrowers provided that no Event of Default is then in existence and so long as Borrowers promptly commence and diligently pursue to completion any required restoration work utilizing such proceeds.

• Without Agent’s prior consent, with respect to any claim other than a Minor Claim, Borrowers (a) shall not agree to any compensation or award, and (b) shall not take any action or fail to take any action which would cause the compensation to be determined.

• Subject to the terms of the Master Lease and Sublease, and except in the case of a Minor Claim, Beneficiary, in its absolute discretion, may decide whether and to what extent, if any, proceeds of insurance or Condemnation awards will be made available to Trustor for repair or restoration of the Security, but Trustor shall effect such repair or restoration as provided above whether or not Beneficiary agrees that any available insurance proceeds and Condemnation awards may be made available for restoration.

• Except in the case of a Minor Claim, Mortgagee, in its absolute discretion, may decide whether and to what extent, if any, proceeds of insurance or Condemnation awards will be made available to Mortgagor for repair or restoration of the Security, but Mortgagor shall effect such repair or restoration as provided above whether or not Mortgagee agrees that any available insurance proceeds and Condemnation awards may be made available for restoration.

More Definitions of Minor Claim

Minor Claim means Damages resulting from a Breach hereof covered by Section 11.2(a) (other than an Exempted Breach) that do not exceed $20,000.00.

Minor Claim has the meaning set forth in Section 8.2(e)(ii).

Minor Claim has the meaning set forth in Section 10.04(a).

Minor Claim has the meaning set forth in Section 9.02(b)(i). “Net Working Capital” means (i) the current assets (excluding Cash) of the Target Companies as of 12:01 A.M. Eastern time on the Closing Date (but before taking into account the consummation of the transactions contemplated hereby), minus (ii) the current Liabilities (excluding any items constituting Indebtedness, Seller Transaction Expenses or otherwise included in the Purchase Price) of the Target Companies as of 12:01 A.M. Eastern time on the Closing Date (but before taking into account the consummation of the transactions contemplated hereby), in each case of clauses (i) and (ii), using the same line items set forth on Schedule 10.01(b) and calculated in accordance with the Agreed Accounting Principles, plus (iii) the Transaction Tax Benefits Amount. For the avoidance of doubt, the determination of Net Working Capital and the preparation of the Closing Statement will take into account only those components (i.e., only those line items) reflected on Schedule 10.01(b). Further to the preceding sentence, the determination of Estimated Purchase Price and Final Purchase Price will be in accordance with the Agreed Accounting Principles (and without any change in or introduction of any new 71 LEGAL02/39540989v11

Minor Claim shall have the meaning assigned to such term in Section 9.4(a).

Minor Claim has the meaning set forth in SECTION 11.7(A) below.

Minor Claim has the meaning set forth in Section 6.02(a).