Common use of Commencement of Proceedings Clause in Contracts

Commencement of Proceedings. Any claim notified pursuant to Clause 11.1 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be irrevocably withdrawn six months after the notice is given pursuant to Clause 11.1 or in the case of any contingent liability, six months after such contingent liability becomes an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.

Appears in 1 contract

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

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Commencement of Proceedings. Any claim notified pursuant to Clause 11.1 clause 12.2 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be irrevocably withdrawn six 6 (six) months after the notice is given pursuant to Clause 11.1 or in the case of any contingent liability, six months after such contingent liability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 clause 12.2 unless legal proceedings in respect of it (i) have been commencedcommenced by being both issued and served 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claim notified pursuant to Clause Clauses 8.2, 10.1 or 11.1 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be irrevocably withdrawn unless legal proceedings in respect of it have been commenced by being both issued and served within six months after the notice is given pursuant to Clause Clauses 8.2, 10.1 or 11.1 or or, in the case of any a contingent liabilityclaim, within six months after such contingent liability becomes an actual liability and is due and payable unless legal proceedings in respect of it have been commencedthe claim ceasing to be so contingent.

Appears in 1 contract

Samples: Sale and Purchase Agreement (Exult Inc)

Commencement of Proceedings. Any claim Claim notified pursuant to Clause 11.1 clause 8.1 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be irrevocably withdrawn six 9 (nine) months after the notice is given pursuant to Clause 11.1 or in the case of any contingent liability, six months after such contingent liability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 clause 8.1 unless legal proceedings in respect of it have been commencedcommenced by being both issued and served.

Appears in 1 contract

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

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Commencement of Proceedings. Any claim notified pursuant to Clause 11.1 10.2 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be irrevocably withdrawn six twelve months after the notice is given pursuant to Clause 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 10.2 unless legal proceedings in respect of it have been commencedcommenced by being both validly issued and served.

Appears in 1 contract

Samples: International Share Sale Agreement (Cooper Companies Inc)

Commencement of Proceedings. Any claim notified pursuant to Clause 11.1 9.1 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be irrevocably withdrawn six (6) months after the notice is given to the Sellers pursuant to Clause 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 9.1 unless legal proceedings in respect of it (i) have been commencedcommenced by being both issued and served 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)

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