Common use of Transfer of loss Clause in Contracts

Transfer of loss. (1) Pursuant to § 302 (1) of the German Stock Corporation Law (AktG), Deutsche Telekom AG shall be obliged to compensate any net loss for the year otherwise arising during the term of the agreement unless this was offset through amounts being taken from other retained earnings to which such amounts were appropriated during the term of the agreement. The loss compensation claim arises at the end of the financial year. It falls due with the value date at this time.

Transfer of loss. (1) Pursuant to § 302 (1) of the German Stock Corporation Law (AktG), Deutsche Telekom AG shall be obliged to compensate any net loss for the year otherwise arising aris- ing during the term of the agreement unless this was offset through amounts being taken from other retained earnings to which such amounts were appropriated during the term of the agreement. The loss compensation claim arises at the end of the financial fi- nancial year. It falls due with the value date at this time.