Net Economic Loss definition

Net Economic Loss means the amount of any loss, liability, damage, cost or expense (including reasonably attorneys' fees) incurred by the Selling Shareholder or any of the other indemnified persons or entities arising out of the matters or circumstances referred to in Article VI - A Section 1., hereof, less the amount of the economic benefit (if any) received by the Selling Shareholder in connection with such loss, liability, damage, cost or expense (including without limitation benefits obtained under federal, state and local tax laws, amounts recovered under insurance policies net of deductibles and incidental expenses and premium increases resulting therefrom, recovery or potential recovery by setoffs or counterclaims, and other economic benefits). The amount of any such economic benefit received by the Selling Shareholder after the calculation of Net Economic Loss shall be subtracted from any amount payable by Travel Systems under this Article VI-A or shall be payable to Travel Systems in reimbursement for amounts already paid by Travel Systems under this Article. In determining the amount of such economic benefit, due consideration shall be given to, among other things, appropriate discount for timing factors.

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Net Economic Loss means the Specified Income less the Specified Costs in respect of each Dividend Period, if the resultant figure is a negative amount, reduced by the Notional Tax Percentage;

Examples of Net Economic Loss in a sentence

Travel Systems shall use reasonable efforts to mitigate its Net Economic Loss in connection with any Indemnity Claim, to the same extent as would a reasonable and prudent person to whom no indemnity were available.
Seller shall not have any liability with respect to any Net Economic Loss to the extent arising from (i) Purchaser's failure to take, or cause to be taken, such action as may be reasonably necessary under the circumstances to protect its interests and the interests of Seller or otherwise to mitigate the amount of such Net Economic Loss, or (ii) Purchaser's failure to provide Seller with prompt and continuing notice as provided in subsection (a) of Section 10 hereof.
The Selling Shareholder shall use reasonable efforts to mitigate its Net Economic Loss in connection with any Indemnity Claim, to the same extent as would a reasonable and prudent person to whom no indemnity were available.
The amount of any such economic benefit received by the Selling Shareholder after the calculation of Net Economic Loss shall be subtracted from any amount payable by Travel Systems under this Article VI-A or shall be payable to Travel Systems in reimbursement for amounts already paid by Travel Systems under this Article.
Purchaser shall use reasonable efforts to mitigate its Net Economic Loss in connection with any Indemnity Claim, to the same extent as would a reasonable and prudent person to whom no indemnity were available.
Purchaser shall use its best efforts to mitigate its Net Economic Loss in connection with any Indemnity Claim, to the same extent as would a reasonable and prudent person to whom no indemnity were available.
Seller shall not have any liability for any Net Economic Loss otherwise indemnifiable hereunder to the extent of the first $25,000, on a cumulative aggregate basis, of loss otherwise indemnifiable hereunder; provided, that this limitation shall not be applicable to the obligation of Seller to repurchase uncollectible Receivables as provided in Section 10 hereof or to claims for excess repair costs under Section 10 hereof.

More Definitions of Net Economic Loss

Net Economic Loss means the amount of any loss, liability, damage, cost or expense (including reasonably attorneys' fees) incurred by Travel Systems or any of the other indemnified persons or entities arising out of the matters or circumstances referred to in Section 1 hereof, less the amount of the economic benefit (if any) received by Travel Systems in connection with such loss, liability, damage, cost or expense (including without limitation benefits obtained under federal, state and local tax laws, amounts recovered under insurance policies net of deductibles and incidental expenses and premium increases resulting therefrom, recovery or potential recovery by setoffs or counterclaims, and other economic benefits). The amount of any such economic benefit received by Travel Systems after the calculation of Net Economic Loss shall be subtracted from any amount payable by Owners under this Agreement or shall be payable to Owners in reimbursement for amounts already paid by Owners under this Agreement. In determining the amount of such economic benefit, due consideration shall be given to, among other things, appropriate discount for timing factors. The indemnity provided for in this Agreement shall be in addition to, and not in lieu of, the indemnity provided by JSG under the Merger Agreement. Travel Systems may pursue its rights hereunder regardless of whether it has taken action to enforce the indemnity provided under the Merger Agreement.

Net Economic Loss means the amount of any loss, liability, damage, cost or expense (including reasonably attorneys' fees) incurred by Purchaser arising out of the matters or circumstances referred to in Section 5.1 hereof, less the amount of the economic benefit (if any) received by Purchaser in connection with such loss, liability, damage, cost or expense (including without limitation benefits obtained under federal, state and local tax laws, amounts recovered under insurance policies net of deductibles and incidental expenses and premium increases resulting therefrom, recovery or potential recovery by setoffs or counterclaims, and other economic benefits). The amount of any such economic benefit received by Purchaser after the calculation of Net Economic Loss shall be subtracted from any amount payable by Sellers under this Article V or shall be payable to Sellers in reimbursement for amounts already paid by Sellers under this Article. In determining the amount of such economic benefit, due consideration shall be given to, among other things, appropriate discount for timing factors.

Net Economic Loss means 20% of the documented net economic loss incurred by a member of the Early Distributor Group, as reflected in a