Individual Claim definition
Examples of Individual Claim in a sentence
If the total amount of all Individual Claims exceeds the Basket, then Sellers’ obligations under Section 13(b) shall be limited to the amount by which the aggregate amount of such Individual Claims exceeds the Basket; provided, however, claims of Purchaser or any of the Purchaser Indemnified Parties pursuant to Section 13(c) above shall not be subject to the Individual Claim limitation or the Basket.
If a TA Signatory who has received a Claim Amount Notice, but not a related Dispute Trigger Notice, disagrees with its Individual Claim Amount specified in such Claim Amount Notice, it must Notify the Company by way of a written Notice (the “Counterclaim Notice”) to be received by the Company on or before 5.00 p.m. (London time) on the Counterclaim Notice Deadline specifying its Alleged TA Claimant Amount.
No Distributable Trust Assets of a Stock Line or an Asset Pool (as applicable) will be Allocated to a Signatory until any Dispute over its Individual Claim Amount or Intermediary Distribution Value in respect of that Stock Line, or, in the case of a Multiple Stock Line Pool, all Disputes over all of its TA Claimant Amounts or Intermediary Distribution Values in respect of that Multiple Stock Line Pool, is or are resolved.
Any TA Signatory who fails to serve a Counterclaim Notice within the time period specified within this Agreement (except where Clause 67.4 applies) shall be deemed to have accepted the Individual Claim Amount specified in the relevant Claim Amount Notice and to have given up any rights of objection or Dispute in relation to the same, whether under this Agreement or otherwise.
In the event of a series of claims based on the same facts, such series of claims shall be treated as a single claim and the aggregate cumulative liability resulting from such series of claims shall be used to determine whether the Individual Claim Threshold has been exceeded.