Excess Claims definition

Excess Claims means as specified in Clause 14.16;

Excess Claims shall have the meaning set forth in the last paragraph of the definition of the term “First Priority Claims”.

Excess Claims shall have the meaning assigned to such term in the definition of the term “First Lien Obligations”.

Examples of Excess Claims in a sentence

• By accepting the benefits of this Agreement and the other First Priority Security Documents, each First Priority Secured Party hereby (a) authorizes the First Priority Agent to enter into this Agreement and to act on its behalf as collateral agent hereunder and in connection herewith and (b) agrees to be bound to the terms hereof to the extent that it holds any Excess Claims.

• To the extent that the provisions of the immediately preceding sentence are not complied with for any reason, without limiting any other right or remedy available to the Second Priority Agent or the other Second Priority Secured Parties, each Person that holds Excess Claims agrees that any amounts received by or distributed to any such Person pursuant to or as a result of any Lien granted in contravention of this Section 2.03(b) shall be subject to Section 4.02(b).

• For the sake of clarity, the foregoing provisions of this Section 3.02(b) shall only apply to the exercise of rights and remedies by the holders of Excess Claims in such capacity and shall not be applicable to the First Priority Secured Parties in respect of their exercise of rights and remedies with respect to their First Priority Claims.

• After all such costs and expenses have been paid in full, the Discharge of First Priority Claims has occurred, the Discharge of Second Priority Claims has occurred and all Excess Claims have been paid in full, any surplus Collateral or proceeds then remaining shall be returned to the applicable Grantor or to whosoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct.

• Following the occurrence of the Discharge of First Priority Claims and prior to the Discharge of Second Priority Claims, if any Person that holds Excess Claims, at any time, receives any proceeds of any such insurance policy or any such award or payment, it shall transfer and pay over such proceeds to the Second Priority Agent in accordance with Section 4.02(b).

More Definitions of Excess Claims

Excess Claims has the meaning set forth in the definition of First Lien Obligations contained herein.

Excess Claims means, with respect to any Transferred COBRA Participant, the amount by which (i) the aggregate amount of any group health plan reimbursements paid in respect of such Transferred COBRA Participant during any plan year under Xxxxx’s group health plans exceeds (ii) the aggregate amount of COBRA premiums paid by such Transferred COBRA Participant for COBRA continuation coverage under Xxxxx’s group health plans during such plan year; provided, however, that in no event will the Sellers’ liability for any Transferred COBRA Participant under this Section for any plan year exceed the amount equal to $80,000, less the aggregate amount of COBRA premiums paid by the Transferred COBRA Participant for COBRA continuation coverage under Buyer’s group health plans during such plan year.

Excess Claims means an amount equal to the excess, if any, of the then aggregate amount of claims for indemnification under Section 10.2 over the Indemnity Escrow Fund.

Excess Claims has the meaning set forth in Section 9.6(a)(ii).

Excess Claims shall have the meaning set forth in section 2.a. of this Term Sheet.

Excess Claims. Product Liabilities set forth on the Disclosure Schedule and in an amount greater than the Product Liability Threshold (as such threshold may be modified pursuant to Section 2.5 (a)(iv) of the Asset Purchase Agreement).

Excess Claims means the amount, if any, by which the allowed rejection claims, subject to Section 502(b)(6) of the Bankruptcy Code, with respect to the Rejected Leases exceeds $2.5 million.