Examples of Notified Leakage in a sentence
Subject to Completion, the Seller warrants to the Purchaser that there has been no Leakage between the Locked Box Date and the date of this Agreement and undertakes to the Purchaser that there will be no Leakage between the date of this Agreement and the Completion Date (in each case other than the Notified Leakage Amount), provided that the Seller shall have no liability to the Purchaser under this Clause 8 if Completion does not occur.
The amount payable to an individual Seller shall be reduced by an amount equal to any Notified Leakage that such Seller or any of its Affiliates is responsible for pursuant to Section 3.2(a)(i) as well as such Seller’s pro rata share of the transaction costs as further described below and, in relation to those Sellers who hold Shares deriving from the Exercised Warrants, its portion of the Exercise Price as set out in Schedule 3.1(c) (the “Purchase Price Allocation”).
The amount payable to a certain Seller shall be reduced by an amount equal to any Notified Leakage that Seller or any of its Affiliates is responsible for pursuant to Section 4.2(a) and any pro rata share of transaction costs pursuant to Section 4.3(c) below (the “Purchase Price Allocation”).
The Seller to whom the Notified Leakage Amount has been paid or who otherwise has benefited or will benefit from the notified Leakage (except for Leakages for which all Sellers have benefited, in which case this shall be an obligation of all Sellers) shall reimburse the other Sellers on a Euro-for-Euro or USD-for-USD basis, as the case may be.
To the extent that any Leakage is included in the Notified Leakage Amount, the Seller’s liability under Clauses 8.1 and 8.2 in relation to such Leakage shall be fully and finally discharged.
The Parties acknowledge and agree that any Notified Leakage Amount shall be taken into account for the purposes of determining the Total Purchase Price in accordance with Section 1.4.1 and, accordingly, shall not be recoverable again after Closing as Leakage pursuant to this Section 1.5.
The Sellers hereby inform the Purchaser and the Substitute Purchaser that the Sellers’ good faith estimate of the Notified Leakage Amount, after due inquiry with the directors of the Company, is EUR zero (0).
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Freeport shall not permit any Leakage (other than Leakage which is or will become Notified Leakage) from the date hereof until the Closing Date.
In the absence of such notification, there shall be deemed to be no Notified Leakage.