continuing liability definition

continuing liability means a payment due by a debtor, other than arrears of such a payment, in respect of–
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continuing liability and "Continuing Liabilities" shall have the meanings respectively assigned to them in Section 2.03 hereof.
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continuing liability means any liability that commences, or that arises from facts in existence, prior to the Closing and that continues, or the facts giving rise to which continue, to exist after the Closing. Subject to clause (b), Seller is indemnifying Buyer against Continuing Liabilities to the extent arising from Seller's operation of the Business prior to Closing pursuant to Section 7.3(e), and Buyer is indemnifying Seller against Continuing Liabilities to the extent arising from Buyer's operation of the Business after Closing pursuant to Section 7.4(d).
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Examples of continuing liability in a sentence

  • In the event that the Authority decides to not implement the CCA Program, the minimum percentage vote of 67% shall be conducted in accordance with Section 4.10 rather than Section 4.9.1. 7.3 Continuing Liability; Refund.

  • Because receivers often provide a closing credit only for security deposits actually held by the receiver, the purchase price offered by the purchaser should reflect the amount of missing security deposits.Lack of Continuing Liability.

  • A Party that has had its membership in the Authority terminated may be subject to certain continuing liabilities, as described in Section 8.4 (Continuing Liability; Refund) of this Agreement.

  • A Party that withdraws its membership in the Authority may be subject to certain continuing liabilities, as described in Section 8.4 (Continuing Liability; Refund) of this Agreement, including, but not limited to, Power Purchase Agreements.

  • A Party that withdraws its membership in the Authority may be subject to certain continuing liabilities, as described in Section 8.5 (Continuing Liability; Refund) of this Agreement, including, but not limited to, power purchase agreements and other Authority contracts and operational obligations.

  • Continuing Liability of the United StatesConsistent with the policy premise of Section 120(h) and retroactive liability under Section 107, the United States remains responsible for contamination found not to have been sufficiently remediated after the property is transferred out of federal ownership.

  • For this reason, members are often well advised to seek a Certificate of Continuing Liability (A1 Certificate} in order to continue being liable for UK national insurance whilst abroad and to avoid liability to pay foreign national insurance.

  • A Party that has had its membership in the Authority terminated may be subject to certain continuing liabilities, as described in Section 8.5 (Continuing Liability; Refund) of this Agreement.

  • Except to the extent accrued as a Continuing Liability, there are no unfunded liabilities under any Welfare Benefit Plan or Pension Benefit Plan.

  • SECURITY FOR OBLIGATIONS; GRANTORS REMAIN LIABLE 9 3.1 Security for Obligations 9 3.2 Continuing Liability Under Collateral 9 SECTION 4.


More Definitions of continuing liability

continuing liability shall have the meaning set forth in Section 10.02(a).
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Related to continuing liability

  • Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, obligation or any other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set forth therein) be deemed to be the outstanding principal amount (or maximum outstanding principal amount, if larger) of the debt, obligation or other liability guaranteed thereby.

  • UK Bail-in Liability means a liability in respect of which the UK Bail-in Powers may be exercised.

  • Excluded Liability means any liability that is excluded under the Bail-In Legislation from the scope of any Bail-In Action including, without limitation, any liability excluded pursuant to Article 44 of the Bank Recovery and Resolution Directive.

  • Contingent Liabilities means, respectively, each obligation and liability of the Credit Parties and all such obligations and liabilities of the Credit Parties incurred pursuant to any agreement, undertaking or arrangement by which any Credit Party either: (i) guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, dividend, obligation or other liability of any other Person in any manner (other than by endorsement of instruments in the course of collection), including without limitation, any indebtedness, dividend or other obligation which may be issued or incurred at some future time; (ii) guarantees the payment of dividends or other distributions upon the shares or ownership interest of any other Person; (iii) undertakes or agrees (whether contingently or otherwise): (A) to purchase, repurchase, or otherwise acquire any indebtedness, obligation or liability of any other Person or any property or assets constituting security therefor; (B) to advance or provide funds for the payment or discharge of any indebtedness, obligation or liability of any other Person (whether in the form of loans, advances, stock purchases, capital contributions or otherwise), or to maintain solvency, assets, level of income, working capital or other financial condition of any other Person; or (C) to make payment to any other Person other than for value received; (iv) agrees to lease property or to purchase securities, property or services from such other Person with the purpose or intent of assuring the owner of such indebtedness or obligation of the ability of such other Person to make payment of the indebtedness or obligation; (v) to induce the issuance of, or in connection with the issuance of, any letter of credit for the benefit of such other Person; or (vi) undertakes or agrees otherwise to assure or insure a creditor against loss. The amount of any Contingent Liability shall (subject to any limitation set forth herein) be deemed to be the outstanding principal amount (or maximum permitted principal amount, if larger) of the indebtedness, obligation or other liability guaranteed or supported thereby.