Corresponding Liability definition

Corresponding Liability means the Obligations of each Credit Party, but excluding its Parallel Liability.
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Corresponding Liability has the meaning given to it in Clause 10.2.1 (Currency Indemnity);
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Corresponding Liability has the meaning set forth in Section 14.15. Debt - as to any Person at any time, without duplication and without reference to what constitutes indebtedness or a liability in accordance with GAAP, all of the following: (a) all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; (b) the maximum amount (after giving effect to any prior drawings or reductions which may have been reimbursed) of all outstanding letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds, performance bonds and similar instruments issued or created by or for the account of such Person; (c) net obligations of such Person under any Hedging Agreement; (d) all obligations of such Person to pay the deferred purchase price of property or services; (e) indebtedness (excluding prepaid interest thereon) described in clauses (a) through (d) and (f) through (h) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements and mortgage, industrial revenue bond, industrial development bond and similar financings), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse; (f) all Attributable Debt; (g) all obligations of such Person to purchase, redeem, retire or otherwise acquire for value any Disqualified Equity Interests (but solely to the extent required to occur on or prior to the Latest Maturity Date (other than as a result of a change of control, asset sale or similar event)); and (h) to the extent not otherwise included above, all Guarantees of such Person in respect of any of the foregoing. For all purposes hereof, the Debt of any Person (i) shall include the Debt of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or joint venturer, except to the extent such Person’s liability for such Debt is otherwise expressly contractually limited and only to the extent such Debt would be included in the calculation of Consolidated Total Debt and (ii) shall exclude (A) trade accounts payable in the ordinary course of business, (B) any earn-out obligation until such earn-out obligation has become due and payable, (C) any current and undeferred pension contributions or health and welfare contr...
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Examples of Corresponding Liability in a sentence

  • Flow volume and velocity, effects of channel curvatures on flows, sediment load and grain size, channel bank cohesiveness, and initial morphologies of channels (e.g., width and width-to-depth ratios) are the primary controlling factors of sinuosity evolution (Schumm, 1977, 1981, 1985; Miall, 1996; Ethridge and Schumm, 2007).

  • In columns (3)-(4), the outcome is a dummy variable for whether the defendant receives a term of imprisonment in the Texas Department of Corrections, which is typically where most substantial prison sentences are served.

  • For the avoidance of doubt, any obligations with respect to the delivery of any Spinco Common Stock on account of the New IAC Integrated Warrant shall be a Corresponding Liability of such Spinco.

  • Balance `395.49 Crore was recoverable from the associates, Corresponding Liability under post shipment credit amounting to US$ 88.22 Million was restructured and converted to Working Capital Term Loan amounting to `397.17 Crore as per agreement dated 3rd December 2010.

  • Corresponding Liability and Hull Coverages must be secured prior to dispatching an aircraft for flight training subsequent to a Demo, Discovery, or Tour Flight.

  • Balance ₹395.49 Crore was recoverable from the associates, Corresponding Liability under post shipment credit amounting to US$ 88.22 Million was restructured and converted to Working Capital Term Loan amounting to ₹397.17 Crore as per agreement dated 3rd December 2010.

  • Working with Active Lancashire Working with Active Lancashire has been good.

  • If at any time on or after the Effective Time, any member of any Group shall remain obligated to any Third Party in respect of any Corresponding Liability not its own – i.e., a Corresponding Liability of another Separate-co (such other Separate-co with respect such Unreleased Liability and such Unreleased Person, the “Responsible Separate-co”) – the following provisions shall apply.


More Definitions of Corresponding Liability

Corresponding Liability has the meaning set forth in Section 14.15. Daily Simple SOFR - for any day, a rate per annum equal to the greater of (a) the sum of (i) SOFR, with the conventions for this rate (which will include a lookback) being established by Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for syndicated business loans; provided, that if Agent decides that any such convention is not administratively feasible for Agent, then Agent may establish another convention in its reasonable discretion plus (ii) the Daily Simple SOFR Adjustment, and (b) the Floor. Daily Simple SOFR Adjustment - 0.10%. Daily SOFR Rate - for any day, a rate per annum equal to the Term SOFR in effect on such day for a one-month interest period (subject to the Floor referred to in the definition of “Term SOFR”). Debt - as to any Person at any time, without duplication and without reference to what constitutes indebtedness or a liability in accordance with GAAP, all of the following: (a) all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; (b) the maximum amount (after giving effect to any prior drawings or reductions which may have been reimbursed) of all outstanding letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds, performance bonds and similar instruments issued or created by or for the account of such Person; (c) net obligations of such Person under any Hedging Agreement; (d) all obligations of such Person to pay the deferred purchase price of property or services; (e)
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Related to Corresponding Liability

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

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

  • Indemnification Obligations means each of the Debtors’ indemnification obligations in place as of the Effective Date, whether in the bylaws, certificates of incorporation or formation, limited liability company agreements, other organizational or formation documents, board resolutions, management or indemnification agreements, or employment or other contracts, for their current and former directors, officers, managers, employees, attorneys, accountants, investment bankers, and other professionals and agents of the Debtors, as applicable.

  • Defects Liability Certificate means the certificate issued by Architect upon correction of defects by the Contractor.