Compensating Party definition

Compensating Party means a Party, other than the "Defaulting Party", from whom the Commission claims reimbursement due to financial collective responsibility in accordance with Contract, Annex II.
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Compensating Party has the meaning given to it in Paragraph 3 of Part H (Calculation and Payment of Termination Sums) of Schedule 6 (Expiry, Events of Default, Termination and Force Majeure);
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Compensating Party means a person offering compensation under an approved scheme,
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Examples of Compensating Party in a sentence

  • The Compensating Party benefiting from the Common Liability Reserve in accordance with this Section shall assign its claim against the Defaulting Party to the other Parties.

  • If and to the extent that such indemnification or the indemnification from the total amount of the Common Liability Reserves does not cover full indemnification, the Compensating Party shall be entitled to seek the remaining indemnification from the other Parties in accordance with their share of the Project budget, limited however to the amount received by such Party from the Commission, including the amount withheld for the Common Liability Reserve.

  • Each Party (Compensating Party) will compensate the other Party (including the Delivery Company) for any losses suffered by the other Party in connection with the Agreement and/or a Nomination, which are caused by the negligent act or omission of the Compensating Party.

  • Subject to Clause 5.11, to the extent that either Party (the “Claiming Party”) has an entitlement under Data Privacy Law to claim from the other Party (the “Compensating Party”) compensation paid by the Claiming Party to a data subject as a result of a breach of Data Privacy Law to which the Compensating Party contributed, the Compensating Party shall be liable only for such amount as it directly relates to its responsibility for any damage caused to the relevant data subject.

  • To be more specific, compensation process roles describe certain responsibilities a party takes in the com- pensation process and in the related interactions.We distinguish two basic compensation process roles, the Compensated Party and the Compensating Party, which are present in all compensation cases, as between them a CeA is negotiated.

  • If no helpers are necessary or business re-lationships with the helper(s) already exist, compensation ne- gotiation only comprises an interaction between the Compen- sated and the Compensating Party, i.e. the two basic parties only exchange the information about the respective Compen- sation Helpers during negotiation.

  • If and to the extent that the Defaulting Party is obviously not able or willing to fulfill its obligations under Section 8.3.1 the Compensating Party shall be indemnified with money from the Common Liability Reserve.

  • However, with respect to the internal compensation the Parties accept that the respective Sub-project(s) to which the Defaulting Party is involved shall have the priority obligation to indemnify the Compensating Party.

  • State Gazette 2005, 340.pensation for the benefit of multiple injured parties has been agreed to between the Compensating Party and the Representative Association.

  • In ad- dition, it allows a Compensating Party to seize the initiative by commencing settlement discussions.


More Definitions of Compensating Party

Compensating Party has the meaning given in Section 37.8(a).
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Compensating Party means a person offering compensation under an approved scheme, “infringement decision” means a decision of the GCMA that the Chapter 1 prohibition or
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Compensating Party means a Party, other than the “Defaulting Party”, from whom the Commission claims reimbursement due to financial collective responsibility in accordance with Grant Agreement, Annex II.24 and 25.
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Compensating Party has the meaning ascribed to it in paragraph 4.1 of Schedule 4;
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Related to Compensating Party

  • Compensating Interest As defined in Section 3.24 hereof.

  • Terminating Party As defined in Section 7.1(f).

  • Participating Party means an enterprise or public body that has committed itself to reaching certain objectives under a voluntary agreement, or is covered by a national regulatory policy instrument;

  • Assisting Party means a party that provides assistance pursuant to this Agreement during an emergency or disaster.

  • Originating Party means the Party, including any entity which provides Classified Information in accordance with the laws and regulations in force in its state;

  • Master Servicing Compensation The meaning specified in Section 3.14.

  • Primary Servicer Prudential Asset Resources, Inc., or any successor thereto (as primary servicer) appointed as provided in the Primary Servicing Agreement.

  • Performing Party As defined in Section 11.12.

  • Operating Advisor means the operating advisor appointed as provided in the Lead Securitization Servicing Agreement.

  • Compensating Interest Payment As defined in Section 6.06.

  • Master Servicer means the master servicer appointed as provided in the Lead Securitization Servicing Agreement.

  • Non-Lead Master Servicer means the applicable “master servicer” under any Non-Lead Securitization Servicing Agreement.

  • BRRD Party means any party to this Agreement subject to the Bail-in Legislation.

  • Subservicer means any Person that services Receivables on behalf of the Servicer or any Subservicer and is responsible for the performance (whether directly or through Subservicers or Subcontractors) of a substantial portion of the material servicing functions required to be performed by the Servicer under this Agreement that are identified in Item 1122(d) of Regulation AB.

  • Providing Party has the meaning set forth in Section 11.

  • Managing Party shall have the meaning set forth in Section 7.2(a).

  • Servicing Function Participant Any Additional Servicer, Sub-Servicer, Subcontractor or any other Person, other than the Certificate Administrator, the Operating Advisor, the Master Servicer, the Special Servicer and the Trustee, that is performing activities that address the Servicing Criteria, unless such Person’s activities relate only to 5% or less of the Mortgage Loans by unpaid principal balance calculated in accordance with the provisions of Regulation AB.

  • Initiating Party shall have the meaning set forth in Article 13.

  • Billing Party means the Party rendering a bill.

  • Non-Lead Servicer means any Non-Lead Master Servicer or Non-Lead Special Servicer, as the context may require.

  • Term SOFR Administrator means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative Agent in its reasonable discretion).

  • injured party means any person entitled to claim compensation in respect of any loss or injury caused by a vehicle;