Undisputed Claim definition
Examples of Undisputed Claim in a sentence
The foregoing provisions notwithstanding, in the event that a Pledge Notice has been delivered as to which Pledgor has not yet responded and the Notice Period has not yet expired, such claims shall be subject to the terms of the proviso of the preceding sentence until the earlier to occur of the payment by Pledgor of the Undisputed Claim Amount or delivery by Pledgor to Shared Technologies of an Assumption.
If an Undisputed Claim continues after the 30 day cure period, then the aggrieved party shall have all remedies provided by this Agreement and by law.
From the date of notice the defaulting party shall have 30 days to cure the Claim (an "Undisputed Claim") or dispute its liability to such Claim in writing (a "Disputed Claim").
The Plan will pay Benefits within 30 days after receipt of the Undisputed Claim and proof supporting the claim.
Upon any Claim becoming an Undisputed Claim, the Escrow Agent will release to Buyer cash held in the Escrow Fund in the amount called for in the corresponding Claim Notice, and such amount shall be accompanied by interest and earnings thereon; provided that if the amount of such Undisputed Claim exceeds the amount of cash held in the Escrow Fund, the Escrow Agent shall release to Buyer all of the cash held in the Escrow Fund.
If Parent does not receive timely notice of such dispute, the Claimed Amount set forth in such Claim Notice shall be deemed established and conclusive for all purposes and shall not be subject to appeal or other proceedings disputing the right to indemnification with respect to such claim or the Claimed Amount with respect thereto (an "Undisputed Claim").
In the event a Notice of Dispute is timely delivered but only a portion of a Claim is disputed, then the undisputed portion of the Claim (the "Undisputed Claim Payment") shall be promptly disbursed to Purchaser and only the sum that is subject to a dispute shall be held by the Escrow Agent until the Claim is resolved in accordance with the provisions of the Purchase Agreement.
In the event a Notice of Dispute is timely delivered but only a portion of a Claim is disputed, then the undisputed portion of the Claim (the "Undisputed Claim Payment") shall be promptly disbursed to Horizon and only the sum that is subject to a dispute shall be held by the Escrow Agent.
If the Escrow Agent does not receive a Counter Notice with respect to a Claim before expiration of the Counter Notice Period (an "Undisputed Claim"), the amount of such Undisputed Claim shall be deemed to be the amount set forth in the Indemnity Notice asserting such Undisputed Claim and its shall be satisfied in the manner set forth in Section 7(d) of this Escrow Agreement.
If the number of Indemnification Escrow Shares and/or Supplemental Escrow Shares, as the case may be, are insufficient to satisfy in full the Undisputed Claim, then Escrow Agent shall then transfer all of the Indemnification Escrow Shares and/or Supplemental Escrow Shares, as the case may be, to Buyer, or to a person or entity designated by Buyer, as the case may be.