Common use of Debt Indemnification Clause in Contracts

Debt Indemnification. a) Indemnification level - Net Debt Subject to a deductible as specified as the case may be in the Special Terms, We shall pay the insured percentage of the Net Debt or of the Positive Credit Decision if the Net Debt exceeds the Positive Credit Decision. The Net Debt shall correspond to the balance of the following loss account: on the debit side : • the value of the invoices, covered under this Contract, including, as appropriate: • the VAT, if this tax is covered under this Contract as specified in the Special Terms • any interest payable up to the Due Date (excluding interests that accrue thereafter), • the packing, transport and insurance costs and any taxes owed by the Buyer. Definitions 8 Credit Limit: type of Credit Decision set by Us, as per article 2.1. of the Special Terms. Debt: amount of one or more invoices owed by the Buyer under a Sales Contract and which falls within the scope of our cover as defined in article 1.1.1 above. on the credit side: • the amount of any Recoveries received by You or by Us up to the date of calculation of the Net Debt.

Debt Indemnification. a) Indemnification level - Net Debt Subject to a deductible as specified as the case may be in the Special Terms, We shall pay the insured percentage of the Net Debt or of the Positive Credit Decision if the Net Debt exceeds the Positive Credit Decision. The Net Debt shall correspond to the balance of the following loss account: on the debit side : • the value of the invoices, covered under this Contract, including, as appropriate: • the VAT, if this tax is covered under this Contract as specified in the Special Terms • any interest payable up to the Due Date (excluding interests that accrue thereafter), • the packing, transport and insurance costs and any taxes owed by the Buyer. Definitions 8 Credit Limit: type of Credit Decision set by Us, as per article 2.1. of the Special Terms. Debt: amount of one or more invoices owed by the Buyer under a Sales Contract and which falls within the scope of our cover as defined in article 1.1.1 above. 8 Definitions 8 on the credit side: • the amount of any Recoveries received by You or by Us up to the date of calculation of the Net Debt.