Operational Liabilities definition

Operational Liabilities means any Liabilities, costs and expenses incurred in connection with the operation of the Business at the Former Queretaro Facility by Purchaser and the Acquired Companies from and after the Closing.
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Operational Liabilities means certain specified day-to-day trading and operational liabilities of African Bank as at the Transaction Effective Date, as determined by the Curator, arising from the Operational Contracts to be transferred to the Issuer (including the Hedging Liabilities, but excluding, for the avoidance of doubt, any remaining liabilities arising out of any other hedging or facility agreements) which have not been settled in the ordinary course. Operational Liabilities will be transferred in full (without any deduction) to the Issuer on the Transaction Effective Date in accordance with sections 54 and 69(2C) of the Banks Act, whilstother sundry operational liabilities not specified for transfer will be treated as Other Senior Claims, if timeously proven;
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Operational Liabilities means the liabilities incurred in the operation of the businesses of the Group Companies owed by the Group Companies to third parties other than (i) any members of the
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Examples of Operational Liabilities in a sentence

  • Except the Current Operational Liabilities which are being transferred as stated above, all other liabilities pertaining to the Corporate Debtor being sold as going concern, subject to the approval of the Judicial Authority, shall be settled, paid and extinguished as per Section 53 of IBC.

  • Except the Current Operational Liabilities (with respect to the 4 operational units) which are being transferred as stated above, all other liabilities pertaining to units of the Corporate Debtor being sold via slump sale under this E-Auction, shall be settled, paid and extinguished as per Section 53 of IBC.

  • The bid submitted in respect of this E-Auction shall be deemed to have included the aforesaid purchase of the CurrentOperational Assets and Current Operational Liabilities, with respect to these 4operational units.

  • The bid submitted for the Corporate Debtorpursuant to thisdocument shall be deemed to have included the aforesaid purchase of the Current Operational Assets and Current Operational Liabilities.

  • Good Bank will, in consideration for acquiring the assets listed above: (i) assume 100% of the Retail Deposit Obligations and Operational Liabilities; and (ii) issue to African Bank a range of New Senior Debt Instruments and New Subordinated Debt Instruments.

  • Good Bank will, as part of the Operational Liabilities, assume 100% of the leave, severance pay and other obligations accrued for the benefit of staff since the original dates of commencement of their employment at African Bank.

  • ICP and ICC agree that ICC will pay on behalf of ICP and ICC do undertake to pay on behalf of ICP, all the Operational Liabilities of ICP arising on or after 18 June 2019, to the extent that ICP does not have cash to meet those Operational Liabilities.

  • Good Bank's liabilities on the Transaction Effective Date will comprise: • liabilities transferred to Good Bank from African Bank in terms of section 54 of the Banks Act, being Retail Deposit Obligations and Operational Liabilities; and • new debt instruments issued by Good Bank in terms of the Sale of Business Agreement, comprising various categories of New Senior Debt Instruments and up to ZAR1.485 billion of Subordinated Debt Instruments (excluding accrued interest).

  • The Operational Liabilities and Operational Contracts will be transferred to Good Bank on the Transaction Effective Date in terms of sections 69(2C) and 54 of the Banks Act.

  • In respect of Operational Liabilities that comprise any taxation (including GST) liability paid by ICC on behalf of ICP, any refund or similar payment due to ICP as a result of tax paid by ICC on behalf of ICP shall be paid by ICP to ICC, upon receipt and shall be ICC's property.


More Definitions of Operational Liabilities

Operational Liabilities means Liabilities of Insight Parent or its Subsidiaries (other than the Partnership and its Subsidiaries) that are primarily and directly related to the operation of the business of the Partnership and that would ordinarily be direct Liabilities of the Person who was the owner of the Systems (assuming the Systems were managed by an unaffiliated third party). For the avoidance of doubt, Operational Liabilities shall not include any Liabilities primarily related to corporate overhead (including corporate office management, development, internal accounting and finance management).
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Operational Liabilities means BXI’s liabilities as of the Signing Date solely with respect to Accounts Payable, legal fees and expenses and audit fees incurred as of the Signing Date for legal and audit services provided to BXI as of or prior to the Signing Date, notes payable (other than the Shareholder Debt), any expenses of the Principal Stockholder on behalf of BXI pursuant to the Cost-Sharing Agreement by and between BXI and Intagio Trading Network, Inc., dated as of August 6, 2004 (which compensate the Principal Stockholder for Xx Xxxxxxxxx services as BXI’s interim president), amounts due to Xxx Xxxxxx and Xxxxxx Banner with respect to expense reimbursements and monthly consulting payments, amounts due to Xxx Xxxxxx & Company, commissions due to Area Directors, in each case only to the extent required to be set forth as a liability on BXI’s balance sheet in accordance with GAAP. Operational Liabilities shall exclude all other categories of liabilities of BXI, including, but not limited to, the items on BXI’s balance sheet referred to as “Deferred revenue,” “Accrued commissions payable to Area Directors” and “Other current liabilities” (to the extent “Other current liabilities” is comprised of “credit balances in accounts receivables,” which amount was $68,334 as of May 31, 2005), Shareholder Debt, the Intagio Receivable, and accruals for BXI’s 2005 audit and tax services.
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Operational Liabilities means the liabilities incurred in the operation of the businesses of the Group Companies owed by the Group Companies to third parties other than (i) any members of the __________________________________________________________________________________________________ Caesars Group or (ii) any Group Companies;
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Related to Operational Liabilities

  • General Liabilities shall have the meaning given it in Article III, Section 6(b) of this Declaration of Trust;

  • Professional liability insurance means insurance against legal liability incident to the practice of a profession and provision of a professional service.

  • Personal liability means personal liability for a debt, liability, or other obligation of an organization which is imposed on a person that co-owns, has an interest in, or is a member of the organization:

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Retained Environmental Liabilities means all Environmental Liabilities of Seller or its Affiliates arising out of or relating to operations or activities that are not primarily related to the Business, whether arising or related to the period before or after Closing.

  • Environmental Liabilities and Costs means all liabilities, monetary obligations, Remedial Actions, losses, damages, punitive damages, consequential damages, treble damages, costs and expenses (including all reasonable fees, disbursements and expenses of counsel, experts, or consultants, and costs of investigation and feasibility studies), fines, penalties, sanctions, and interest incurred as a result of any claim or demand by any Governmental Authority or any third party, and which relate to any Environmental Action.

  • Assumed Environmental Liabilities has the meaning specified in Section 7.4.

  • Environmental Costs and Liabilities means any and all losses, liabilities, obligations, damages, fines, penalties, judgments, actions, claims, costs and expenses (including, without limitation, fees, disbursements and expenses of legal counsel, experts, engineers and consultants and the costs of investigation and feasibility studies and remedial activities) arising from or under any Environmental Law or order or contract with any Governmental Authority or any other Person.

  • Excluded Environmental Liabilities means any and all Environmental Liabilities whether arising before, at or after the Effective Time, to the extent relating to, resulting from, or arising out of the past, present or future operation, conduct or actions of Xxxxxxx Retained Business.

  • Environmental Liabilities means all Liabilities relating to, arising out of or resulting from any Hazardous Materials, Environmental Law or contract or agreement relating to environmental, health or safety matters (including all removal, remediation or cleanup costs, investigatory costs, response costs, natural resources damages, property damages, personal injury damages, costs of compliance with any product take back requirements or with any settlement, judgment or other determination of Liability and indemnity, contribution or similar obligations) and all costs and expenses, interest, fines, penalties or other monetary sanctions in connection therewith.

  • Environmental Liability means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrower or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

  • Total Liabilities is on any day, obligations that should, under GAAP, be classified as liabilities on Borrower’s consolidated balance sheet, including all Indebtedness.

  • Pre-Closing Environmental Liabilities means (i) any violation of Environmental Law arising in connection with the ownership or operation of the Properties prior to the Effective Time, (ii) any Release of Hazardous Substances onto or from the Properties prior to the Effective Time or relating to or arising from any activities conducted on such properties or from operation of such assets prior to the Effective Time and (iii) any claim, action, cause of action, inquiry, investigation, remediation, removal or restoration with respect to the matters set forth in subsection (i) or (ii) above

  • Environmental, Health and Safety Liabilities means any cost, damages, expense, liability, obligation or other responsibility arising from or under Environmental Law or Occupational Safety and Health Law and consisting of or relating to:

  • Contingent Liabilities means, respectively, each obligation and liability of the Credit Parties and all such obligations and liabilities of the Credit Parties incurred pursuant to any agreement, undertaking or arrangement by which any Credit Party either: (i) guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, dividend, obligation or other liability of any other Person in any manner (other than by endorsement of instruments in the course of collection), including without limitation, any indebtedness, dividend or other obligation which may be issued or incurred at some future time; (ii) guarantees the payment of dividends or other distributions upon the shares or ownership interest of any other Person; (iii) undertakes or agrees (whether contingently or otherwise): (A) to purchase, repurchase, or otherwise acquire any indebtedness, obligation or liability of any other Person or any property or assets constituting security therefor; (B) to advance or provide funds for the payment or discharge of any indebtedness, obligation or liability of any other Person (whether in the form of loans, advances, stock purchases, capital contributions or otherwise), or to maintain solvency, assets, level of income, working capital or other financial condition of any other Person; or (C) to make payment to any other Person other than for value received; (iv) agrees to lease property or to purchase securities, property or services from such other Person with the purpose or intent of assuring the owner of such indebtedness or obligation of the ability of such other Person to make payment of the indebtedness or obligation; (v) to induce the issuance of, or in connection with the issuance of, any letter of credit for the benefit of such other Person; or (vi) undertakes or agrees otherwise to assure or insure a creditor against loss. The amount of any Contingent Liability shall (subject to any limitation set forth herein) be deemed to be the outstanding principal amount (or maximum permitted principal amount, if larger) of the indebtedness, obligation or other liability guaranteed or supported thereby.

  • Material Environmental Liabilities means Environmental Liabilities exceeding $500,000 in the aggregate.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

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

  • Operational Expenses means expenses of the clerk of court used to maintain the clerk’s office and includes, but is not limited to, (i) computer support, maintenance, enhancements, upgrades, and replace- ments and office automation and information technol- ogy equipment, including software and conversion services; (ii) preserving, maintaining, and enhancing court records, including, but not limited to, the costs of repairs, maintenance, consulting services, service contracts, redaction of social security numbers from certain records, and system replacements or upgrades; and (iii) improving public access to records maintained by the clerk, including locating technology in an offsite facility for such purposes or for implementation of a disaster recovery plan.

  • Covered Liabilities as defined in Subsection 11.21.

  • Loss of Activities of Daily Living means that, due to an Injury or Sickness, the Insured Employee has lost the ability to safely and completely perform two or more of the following six Activities of Daily Living without another person's active, hands-on help with all or most of the activity.

  • Product Liabilities means any Liability arising out of, relating to or resulting from actual or alleged harm, injury, damage or death to persons in connection with the use of any product (including in any clinical trial or study);

  • Intra-Group Liabilities means the Liabilities owed by any member of the Group to any of the Intra-Group Lenders.

  • Employee Liabilities means all claims, actions, proceedings, orders, demands, complaints, investigations (save for any claims for personal injury which are covered by insurance) and any award, compensation, damages, tribunal awards, fine, loss, order, penalty, disbursement, payment made by way of settlement and costs, expenses and legal costs reasonably incurred in connection with a claim or investigation including in relation to the following: redundancy payments including contractual or enhanced redundancy costs, termination costs and notice payments; unfair, wrongful or constructive dismissal compensation; compensation for discrimination on grounds of sex, race, disability, age, religion or belief, gender reassignment, marriage or civil partnership, pregnancy and maternity or sexual orientation or claims for equal pay; compensation for less favourable treatment of part-time workers or fixed term employees; outstanding debts and unlawful deduction of wages including any PAYE and National Insurance Contributions in relation to payments made by the Customer or the Replacement Supplier to a Transferring Supplier Employee which would have been payable by the Supplier or the Sub-Contractor if such payment should have been made prior to the Service Transfer Date; claims whether in tort, contract or statute or otherwise; any investigation by the Equality and Human Rights Commission or other enforcement, regulatory or supervisory body and of implementing any requirements which may arise from such investigation;

  • Consolidated Total Liabilities means, as of any date of determination, the total liabilities of the Borrower and its Subsidiaries on a consolidated basis, as determined in accordance with GAAP.

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