Shortfall Claim Sample Clauses

A Shortfall Claim clause defines the process by which a party can seek compensation if the actual amount received under an agreement is less than what was contractually owed. Typically, this clause outlines the steps for notifying the other party of the shortfall, the calculation of the deficit, and the timeframe for making a claim. Its core function is to ensure that parties have a clear mechanism to address and recover any underpayments, thereby reducing disputes and ensuring financial accountability.
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Shortfall Claim. The “Shortfall Claim” refers to any claim for relief, in connection with a BIA ISDA contract, alleging that the BIA and DOI failed to pay Plaintiffs the amount generated by multiplying each Plaintiff’s indirect cost rate by the BIA’s direct program base, less passthroughs and exclusions, pursuant to Office of Management and Budget (“OMB”) Circular A-87, 2 C.F.R. Part 225, OMB Circular A-21, 2 C.F.R. Part 220, and OMB Circular A-122, 2 C.F.R. Part 230, and other applicable law, or the full amount of any negotiated contract support costs. This claim also includes damages for Defendants’ alleged failure to pay indirect CSC on the portion of Direct Contract Support Costs (“DCSC”) that were not paid to Plaintiffs.
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Shortfall Claim. 5.1.1 Each Consenting Beneficiary shall have an unsecured claim against the general estate of the Company in the amount of its 19/9 Shortfall (if any) (its “19/9 Shortfall Claim”, which may be zero) in accordance with and subject to the terms and conditions of this Clause 5. 5.1.2 Each 19/9 Shortfall Claim shall be deemed to have arisen upon the Administration Date.
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Shortfall Claim. The Proposal provides for each Consenting Beneficiary to have a (potentially capped) unsecured shortfall claim against the Company. This unsecured shortfall claim offers some protection against the risk that, although LBI will be making a 100 per cent. distribution in respect of its allowed customer property claims, the ultimate value available for allocation to a Consenting Beneficiary may be less than the amount of the 19/9 Value of its LBI Asset Claims.
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Related to Shortfall Claim

  • Shortfall If, on any date, the Outstanding Advances shall exceed the Maximum Advance Amount (such excess, the "Shortfall Amount"), then the Customer shall on such date prepay the Outstanding Advances in an amount equal to such Shortfall Amount.

  • Deficiency Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay its Obligations and the fees and disbursements of any attorneys employed by the Administrative Agent or any Lender to collect such deficiency.

  • Claim A demand or assertion by the Owner or the Contractor seeking an adjustment of the Contract Sum or Contract Time, or both, or other relief with respect to the terms of the Contract. The term "Claim" also includes other disputes and matters in question between the Owner and the Contractor arising out of or relating to the Contract. The responsibility to substantiate a Claim shall rest with the party making the Claim. A demand for money or services by a third party, including a Trade Contractor, Supplier, or subcontractor to the Contractor, is ipso facto not a Claim against the Owner.

  • Initial Claim Generally, the determination of whether a Claim is an Urgent Care Claim will be made by an individual acting on behalf of ▇▇▇▇▇, applying the judgment of a prudent layperson possessing an average knowledge of health and medicine. However, if a Physician with knowledge of the Member’s Condition determines that the Claim is an Urgent Care Claim, it will be deemed urgent. Urgent Care Claims may be made orally or in writing. AvMed will notify the Claimant of the benefit determination as soon as possible, taking into account the medical exigencies, but no later than 72 hours after receipt of the Urgent Care Claim. 1) If the Claimant fails to provide sufficient information to determine whether or to what extent benefits are covered or payable under this Contract, AvMed will notify the Claimant, no later than 24 hours after receipt of the Claim, of the specific information necessary to complete the Claim. The Claimant will be afforded no less than 48 hours, to provide the specified information. 2) AvMed will notify the Claimant of the benefit determination no later than 48 hours after the earlier of: ▇▇▇▇▇’s receipt of the specified information, or the end of the period afforded the Claimant to provide the specified information. If the Claimant fails to supply the specified information within the 48-hour period, the Claim will be denied. 3) AvMed may notify the Claimant of the benefit determination orally or in writing. If the notification is provided orally, a written or electronic notification will also be provided to the Claimant no later than three days after the oral notification.

  • Losses in Excess of the Stated Threshold In the event that the sum of the Cumulative Loss Amount under this Single Family Shared-Loss Agreement and the Stated Loss Amount under the Commercial Shared-Loss Agreement meets or exceeds the Stated Threshold, the loss/recovery sharing percentages set forth herein shall change from 80/20 to 95/5 and thereafter the Receiver shall pay to the Assuming Bank, in immediately available funds, an amount equal to ninety-five percent (95%) of the Monthly Shared-Loss Amount reported on the Monthly Certificate. If the Monthly Shared-Loss Amount reported on the Monthly Certificate is a negative number, the Assuming Bank shall pay to the Receiver in immediately available funds ninety-five percent (95%) of that amount.