Liability Cap Amount definition
Liability Cap Amount means, in any calendar year, an amount equal to the Initial Management Fee for such calendar year.
Liability Cap Amount. Section 9.3(a) “Lien” Section 10.1 “Losses” Section 10.1
Liability Cap Amount means, in any calendar year, an amount equal to the Initial Management Fee for such calendar year. "Liquidator" shall have the meaning given in Section 9.2.
Examples of Liability Cap Amount in a sentence
In addition, as security for Seller's post-Closing obligations, Buyer and Seller at the Closing Date shall enter into a Holdback Escrow Agreement ("Holdback Escrow Agreement") in the form of Exhibit "M" attached hereto, pursuant to which a portion of the Purchase Price equal to the Liability Cap Amount ("Holdback Escrow Funds") shall be deposited into an escrow account with Escrow Agent, to be applied and released subject to the terms and conditions set forth therein.
Seller's obligations hereunder shall not be subject to the Liability Cap Amount.
More Definitions of Liability Cap Amount
Liability Cap Amount means and refer to an aggregate amount equal to $US 1,700,000. In addition, Guarantor shall reimburse Counterparty for all sums paid to Counterparty by Manager with respect to such Guaranteed Obligations which Counterparty is subsequently required to return to Manager or a representative of Manager’s creditors as a result of Manager’s bankruptcy, insolvency, reorganization, liquidation, receivership, or similar proceeding. Guarantor’s obligations and liability under this Guaranty shall be limited to payment obligations only and Guarantor shall have no obligation to perform under any Agreement, including, without limitation, to sell, deliver, supply or transport gas, electricity or any other commodity. Guarantor agrees that if, at any time or from time to time, Counterparty makes written demand upon Guarantor pursuant to Section 5 hereof, which demand references this Guaranty and the Guaranteed Obligations then due and owing, Guarantor shall pay, or cause to be paid, such Guaranteed Obligations. Guarantor acknowledges that, for so long as this Guaranty is in effect, Counterparty may make one or more written demands in accordance with the preceding sentence. If all or a part of any payment made by Guarantor to Counterparty hereunder is later determined pursuant to the dispute resolution procedures set forth in the Agreement to have been improper because such amount was not actually owed by Manager to Counterparty under the Agreement or such payment was otherwise unjustified, Counterparty shall repay such amount to Guarantor within ten (10) business days of written demand by Guarantor. Nothing shall discharge or satisfy the liability of the Guarantor under this Guaranty except the full performance and payment of (i) the Guaranteed Obligations and (ii) any obligations of the Guarantor under this Guaranty. This Guaranty is independent of and shall not be affected by the issuance of any Qualified Letter of Credit in favor of Counterparty pursuant to Article 31 of the Agreement, or any amendments or replacements thereof, or by any full or partial draws made by Counterparty thereunder.
Liability Cap Amount shall have the meaning ascribed in Section 5.3.