Direct Liabilities definition

Direct Liabilities means, with respect to either Family Housing Guarantor or [ ], all direct obligations of such entity, including without limitation (1) indebtedness for borrowed money or for the deferred purchase price of property or services, (2) obligations under leases which shall have been or should be, in accordance with generally accepted accounting principles consistently applied, recorded as capital leases, and (3) any unrefunded obligation of such entity to any “Employee Benefit Plan,” as defined in the Employee Retirement Income Security Act of 1974, as amended.
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Direct Liabilities means in relation to each Mortgagor all monies and liabilities whether certain or contingent which now are or at any time hereafter may be or become due, owing or incurred by him to the Bank under or pursuant to or in connection with his Facility Letter”.
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Direct Liabilities means, with respect to either Elm Street Guarantor or ESH I, all direct obligations of such entity, including without limitation (1) indebtedness for borrowed money or for the deferred purchase price of property or services, (2) obligations under leases which shall have been or should be, in accordance with generally accepted accounting principles consistently applied, recorded as capital leases, and (3) any unrefunded obligation of such entity to any “Employee Benefit Plan,” as defined in the Employee Retirement Income Security Act of 1974, as amended.
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Related to Direct Liabilities

  • Product Liabilities means any Liability arising out of, relating to or resulting from actual or alleged harm, injury, damage or death to persons in connection with the use of any product (including in any clinical trial or study);

  • 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.

  • Parent Liabilities shall have the meaning set forth in Section 2.3(b).

  • Liabilities means any and all debts, liabilities and obligations, whether accrued or fixed, absolute or contingent, matured or unmatured or determined or determinable, including those arising under any Law, Action or Governmental Order and those arising under any contract, agreement, arrangement, commitment or undertaking.

  • Product Liability means any liability, claim or expense, including but not limited to attorneys’ fees and medical expenses, arising in whole or in part out of a breach of any express or implied product warranty by the Company, strict liability in tort, negligent manufacture of product, negligent provision of services, product recall, or any other allegation of liability arising from the design, testing, manufacture, packaging, labeling (including instructions for use), or sale of products.