Settlement Liability definition

Settlement Liability means a net liability due to the final agreement of claims or rights arising out of the settlement of an Allowable Cost Audit, including: (A) final indirect costs and rates for government contracts; (B) Cost Accounting Standards (CAS) matters; (C) defective pricing matters; or (D) advance agreements with the U.S. Government. A Settlement Liability shall be computed as the total impact on the net amount to be paid upon final contract settlement, including direct and indirect costs, fees and profits.

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Settlement Liability means a net liability due to the final agreement of claims or rights arising out of the settlement of an Allowable Cost Audit, including: (A) final indirect cost and rates for government contracts; (B) Cost Accounting Standards (CAS) matters; (C) defective pricing matters; or (D) advance agreements with the U.S. Government. A Settlement Asset or Settlement Liability shall be computed as the total impact on the net amount to be paid or received upon final contract settlement, including direct and indirect costs, fees and profits. Where Settlement Assets and Settlement Liabilities arise from the settlement of an Allowable Cost Audit, the baseline costs for calculating Settlement Assets and Settlement Liabilities shall be the costs included in Inter-company Accounting Transfers (IATs) for periods through the Distribution Date.

Settlement Liability means a net liability due to the final agreement of claims or rights arising out of the settlement of an Allowable Cost Audit,

Examples of Settlement Liability in a sentence

• If the dispute is not resolved within the 30-day period, Purchaser or Sellers, as the case may be, shall give notice of any claim in writing to Sellers or Purchaser, as the case may be, and to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ LLP on or before a date that is not more than 105 days after delivery by Sellers to Purchaser of the Revised Statement of Net Settlement Liability.

• The Preliminary Statement of Net Settlement Liability shall be delivered to Purchaser and Deloitte & Touche LLP, the independent auditors jointly engaged by Purchaser and Sellers for purposes of conducting the audit contemplated hereby, on or before the 60th day after the Closing Date.

• The Revised Statement of Net Settlement Liability will be the Preliminary Statement of Net Settlement Liability with any adjustments that are identified as part of the audit (only to the extent that such adjustments exceed $500,000 in the aggregate) and are recorded by Sellers in order to make the Revised Statement of Net Settlement Liability be in compliance with the Accounting Principles.

• Purchaser and Sellers may dispute any amount as shown on the Revised Statement of Net Settlement Liability; provided that to the extent that an amount in dispute was an amount stipulated to in the Accounting Principles to be final, Purchaser and Sellers shall not be entitled to dispute such amount.

• If the Company pays any Settlement Liability during the Period, such payment shall be added into the amount of Current Assets determined on the Closing Date.

• If the dispute is resolved by mutual agreement, Purchaser and Sellers will give notice to Deloitte & Touche LLP to issue the Final Statement of Net Settlement Liability.

• The final liability amount of the HPS Acquirers under the DCRS Rules by reason of the HPS Intrusion (the “Final DCRS Liability Amount”) will be an amount that does not exceed $5,140,550.20, which constitutes 40.42% of the Preliminary DCRS Liability Amount (such not-to-exceed amount being defined herein as the “DCRS Settlement Liability Amount”).

• Purchaser and Sellers shall instruct Deloitte & Touche LLP to audit the Preliminary Statement of Net Settlement Liability in accordance with generally accepted auditing standards.

• The Initial Statement of Net Settlement Liability shall be calculated by Parent in accordance with the Accounting Principles.

• The Initial Statement of Net Settlement Liability will be prepared in accordance with the Accounting Principles applied in a manner consistent with the 1998 Statement of Net Settlement Liability except to the extent that agreed upon calculation methods or amounts specified in the Accounting Principles are applicable only to the 1998 Statement of Net Settlement Liability.

More Definitions of Settlement Liability

Settlement Liability means a net liability due to the final agreement of claims or rights arising out of the settlement of an Allowable Cost Audit, including: (A) final indirect cost and rates for government contracts; (B) Cost Accounting Standards (CAS) matters; (C) defective pricing matters; or

Settlement Liability the amount the Issuer is required to pay to the Card Scheme in relation to a Payment.

Settlement Liability. Means: (i) liabilities of the Company described in the Settlement Agreements (of an amount equal to CHF1’693’304.-); (ii) liabilities of the Company associated with the settlement of the Les Festins Dispute (of an amount equal to 48’500.-); (iii) liabilities of the Company relating to the Minerg Contract (of an amount equal to CHF1’248’000.); (iv) liability of the Company relating to the LEM Dispute (of an amount equal to CHF 96'902.45). (v) the Roof Liability (of an amount equal to CHF240’835.74.); and (vi) liabilities of the Company associated with the settlement of the Les Chambres du CTN dispute (of an amount equal to CHF 1’817) which in aggregate are an amount equal to CHF 3’329’359.19.