Retained Product Liability definition

Retained Product Liability means any Liability of any Company relating to the violation by such Company prior to the Closing Date of any applicable Law governing manufacturers' and distributors' Liabilities for safety or defectiveness of products.
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Retained Product Liability. Section 2.3.5.
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Examples of Retained Product Liability in a sentence

  • Sellers and Parent assume all liabilities for property damage and personal injuries which are alleged to be caused by or result from defects (including, but not limited to, design and manufacturing defects) in products of the Business sold by Sellers prior to the Closing Date for which the date of loss occurred prior to the Closing Date and shall defend, indemnify and hold harmless the Buyers with respect thereto (a "Retained Product Liability Claim").

  • Buyers shall notify Parent and/or Sellers in writing and tender defense of each Retained Product Liability Claim to Sellers and/or Parent by the earlier of (a) fifteen (15) business days after obtaining Knowledge of the Retained Product Liability Claim or (b) within five (5) business days after being served with a summons and complaint or similar documentation initiating litigation with respect to the Retained Product Liability Claim and shall cooperate in the defense thereof.

Related to Retained Product Liability

  • Product Liability means any liability, claim or expense, including but not limited to attorneys’ fees and medical expenses, arising in whole or in part out of a breach of any express or implied product warranty by the Company, strict liability in tort, negligent manufacture of product, negligent provision of services, product recall, or any other allegation of liability arising from the design, testing, manufacture, packaging, labeling (including instructions for use), or sale of products.

  • Product Liabilities means all claims, Liabilities and Proceedings related to or arising from actual or alleged harm, injury, damage or death to persons, animals, property or business, irrespective of the legal theory asserted, and resulting from or alleged to result from the use, sale or manufacture of the Products.

  • Product Liability Claim means a Claim of a Third Party (other than a Claim arising out of use of the Product in a clinical trial) that (i) arises as a result of the use of the Product during the Term that results in personal injury or death or (ii) is in anticipation of or intended to prevent or forestall personal injury or death as a result of the use of the Product during the Term.

  • Excluded Liability means any liability that is excluded under the Bail-In Legislation from the scope of any Bail-In Action including, without limitation, any liability excluded pursuant to Article 44 of the Bank Recovery and Resolution Directive.

  • Products Liability means:Your legal liability in respect of Personal Injury and/or Property Damage caused by or arising out of any Products or the reliance upon a representation or warranty made at any time with respect to such products; but only where such Personal Injury and/or Property Damage occurs away from premises owned or leased by or rented to You and after physical possession of such products has been relinquished to others.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • Net Liability as used herein is defined as the Company's gross liability remaining after cessions, if any, to other pro rata reinsurers.

  • Third Party Liability means the liability of ARTC and/or the Operator to any third party (not being a related entity as defined in the Corporations Act 2001) who suffers any personal injury, property or economic loss or damage as a consequence of an Incident.

  • Product Infringement has the meaning set forth in Section 9.4(a).

  • Hovercraft Liability This policy does not cover "hovercraft liability".

  • Retained Liabilities has the meaning set forth in Section 2.4.

  • Defect Liability Period in relation to a work means the specified period from the date of COMPLETION CERTIFICATE upto the date of issue of FINAL CERTIFICATE during which the CONTRACTOR stands responsible for rectifying all defects that may appear in the works executed by the CONTRACTOR in pursuance of the CONTRACT and includes warranties against Manufacturing/Fabrication/ Erection/Construction defects covering all materials plants, equipment, components, and the like supplied by the CONTRACTOR, works executed against workmanship defects.

  • Aircraft Liability This policy does not cover "aircraft liability".

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • Seller Damages shall have the meaning given to such term in Section 14.3.

  • Excluded Liabilities has the meaning set forth in Section 2.4.

  • Defects Liability Period (Warranty Period) means the period stated in the Schedule A Special Stipulations, following the taking over, during which the Contractor is responsible for making good defects and damage in accordance with Clause 15.

  • Product Backlog means a list of those Stories that do not form part of the current Sprint Plan at that time and which are to form the subject of a future Sprint, either in the current Release at that time or a subsequent Release;

  • Third Party Claims has the meaning set forth in Section 11.1.

  • Licensed Subject Matter means Patent Rights and/or Technology Rights.

  • SpinCo Liabilities shall have the meaning set forth in Section 2.3(a).

  • Third Party Infringement Claim has the meaning set forth in Section 5.4.

  • Seller Losses shall have the meaning set forth in Section 9.1(b).

  • Indemnity Obligations means all obligations of the Company to Indemnitee under this Agreement, including the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.

  • Third Party Products means the Third Party Software and Third Party Hardware.

  • Defects Liability Period means the warranty period following the taking over, during which the Contractor is responsible for making good, defects and damage in Goods and Services provided, under the Contract.