Sum Recovered definition

Sum Recovered means an amount equal to the total of the amount recovered from the other Person plus any interest in respect of the amount recovered from the Person less any taxes payable on such amount recovered by the Indemnified Party.

Sum Recovered means an amount equal to so much of the amount recovered from the other person by the Buyer or a member of the Buyer's Group as does not exceed the amount of any payment by the Sellers in satisfaction of the relevant claim less any Tax payable by the Buyer or member of the Buyer's Group in respect of that receipt and less all reasonable costs and expenses of the Buyer or the relevant member of the Buyer's Group properly incurred in recovering that receipt.

Sum Recovered has the meaning set out in paragraph 8.2 of Schedule 5;

Examples of Sum Recovered in a sentence

• The Seller Debenture shall be exclusively paid in the form of Seller’s Common Stock, provided, however, that the principal balance due hereunder shall be reduced on a dollar for dollar basis in an amount equal to any Distributions paid by JVCo, including, without limitation, proceeds from Lump Sum Recovered Amounts, to Buyer and/or its Related Persons under the JVCo Operating Agreement.

• If the amount paid by the Sellers in respect of the claim is less than or equal to the Sum Recovered, the Purchaser Indemnified Person shall immediately pay to the Sellers an amount equal to the amount paid by the relevant Seller.

• The Seller Debenture shall be exclusively paid in the form of Seller Common Stock, provided, however, that the principal balance due under the Seller Debenture shall be reduced on a dollar for dollar basis in an amount equal to any Distributions paid by JVCo, including, without limitation, proceeds from Lump Sum Recovered Amounts, to Buyer and/or Attis under the JVCo Operating Agreement.

• For the purposes of this Section "Sum Recovered" means an amount equal to the total of the amount recovered from the other person less all reasonable costs incurred by the Purchaser Indemnified Person in recovering the amount from the person.

• In the event that Sellers make any payment to a Purchaser Indemnified Person for indemnification and the Purchaser Indemnified Person subsequently recovers from another person an amount which is referable to the matter giving rise to the claim then if the amount paid by the Sellers is more than the Sum Recovered the Purchaser Indemnified Person shall immediately pay to the relevant Seller the Sum Recovered.

More Definitions of Sum Recovered

Sum Recovered shall have such meaning as ascribed to the term in Clause 7.6(d)(vi);

Sum Recovered has the meaning set out in clause 8.5.2;

Sum Recovered means an amount equal to the total of the amount recovered from the other person (less any Tax suffered by any HCC Group Company in respect thereof and all costs properly incurred by any HCC Group Company in recovering the amount from the person) plus any interest (at LIBOR at the start of the period referred to below) in respect of such net amount for the period following the recovery of the amount from that person and after the payment by the Seller(s) of the Relevant Claim.

Sum Recovered means the amount recovered from the third party less all reasonable costs and expenses incurred by the Company in recovering the amount from the third party; and

Sum Recovered has the meaning given in Schedule 6;

Sum Recovered means an amount equal to the amount recovered from the third party, less all reasonable costs and expenses incurred by the Purchaser or (as the case may be) the relevant member of the Purchaser's Group in recovering the amount from the third party.

Sum Recovered for the purposes of Part 12 of the Schedule, has the meaning given to it in paragraph 15 of Part 12 of the Schedule;