Common use of Commencement of Proceedings Clause in Contracts

Commencement of Proceedings. Any claim notified pursuant to Clause 10.2 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be withdrawn twelve months after the notice is given pursuant to Clause 10.2 unless legal proceedings in respect of it have been commenced by being both validly issued and served.

Appears in 1 contract

Samples: International Share Sale Agreement (Cooper Companies Inc)

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Commencement of Proceedings. Any claim notified pursuant to Clause 10.2 11.1 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be irrevocably withdrawn twelve six months after the notice is given pursuant to Clause 10.2 11.1 or in the case of any contingent liability, six months after such contingent liability becomes an actual liability and is due and payable unless legal proceedings in respect of it have been commenced by being both validly issued and servedcommenced.

Appears in 1 contract

Samples: Share Purchase Agreement (Intercontinental Hotels Group PLC /New/)

Commencement of Proceedings. Any claim Claim notified pursuant to Clause 10.2 12.2 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be irrevocably withdrawn twelve nine months after the notice is given pursuant to Clause 10.2 12.2, unless at the relevant time legal proceedings in respect of it the relevant Claim have been commenced by being both validly issued and served.

Appears in 1 contract

Samples: Share Sale Agreement

Commencement of Proceedings. Any claim notified pursuant to Clause 10.2 9.1 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be withdrawn twelve six (6) months after the notice is given to the Sellers pursuant to Clause 10.2 9.1 unless legal proceedings in respect of it (i) have been commenced by being both validly issued and servedserved and (ii) are being and continue to be pursued with reasonable diligence.

Appears in 1 contract

Samples: Share Purchase and Portfolio Transfer Agreement (Standard Management Corp)

Commencement of Proceedings. Any claim notified pursuant to Clause 10.2 12.2 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be irrevocably withdrawn twelve months after the notice is given pursuant to Clause 10.2 12.2 unless at the relevant time legal proceedings in respect of it the claim have been commenced by being both validly issued and served.

Appears in 1 contract

Samples: Subscription Agreement (MPT Operating Partnership, L.P.)

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Commencement of Proceedings. Any claim notified pursuant to Clause 10.2 clause 12.2 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be withdrawn twelve 6 (six) months after the notice is given pursuant to Clause 10.2 clause 12.2 unless legal proceedings in respect of it (i) have been commenced by being both validly issued and servedserved and (ii) are being and continue to be pursued with reasonable diligence.

Appears in 1 contract

Samples: Share and Business Sale Agreement (DSP Group Inc /De/)

Commencement of Proceedings. Any claim Claim notified pursuant to Clause 10.2 clause 8.1 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be withdrawn twelve 9 (nine) months after the notice is given pursuant to Clause 10.2 clause 8.1 unless legal proceedings in respect of it have been commenced by being both validly issued and served.

Appears in 1 contract

Samples: Sale and Purchase Agreement (Affinia Group Intermediate Holdings Inc.)

Commencement of Proceedings. Any claim notified pursuant to Clause 10.2 Clauses 8.2, 10.1 or 11.1 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be irrevocably withdrawn twelve months after the notice is given pursuant to Clause 10.2 unless legal proceedings in respect of it have been commenced by being both validly issued and servedserved within six months after the notice is given pursuant to Clauses 8.2, 10.1 or 11.1 or, in the case of a contingent claim, within six months after the claim ceasing to be so contingent.

Appears in 1 contract

Samples: Sale and Purchase Agreement (Exult Inc)

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