Material Claim definition

Material Claim has the meaning given to that term in Section 6.1(a).

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Material Claim means any one or more Claims that are filed against the Applicant in accordance with the provisions of this Order by or on behalf of any one Creditor, that, in the aggregate, are in an amount greater than $5 million;

Material Claim and “Material Claims” shall each have the meaning specified in Section 9.2(b)(iii).

Examples of Material Claim in a sentence

• No adverse development has occurred with respect to any Material Claim except as disclosed in the SEC Documents filed with the Commission prior to the date of this Agreement.

• If the Beneficiary reasonably determines that the Trustor is not adequately responding to a Hazardous Material Claim, the Beneficiary shall have the right to join and participate in, as a party if it so elects, any legal proceedings or actions initiated in connection with any such Hazardous Materials Claims and to have its reasonable attorney's fees in connection therewith paid by the Trustor.

• Such Material Claim Notice shall set forth the Material Claim Amount and reasonable supporting detail concerning the underlying claim(s).

• Within [ten (10) days] following the date of the delivery of such Material Claim Notice, Reinsurer shall pay cash equal to such Material Claim Amount to Cedant.

• In the absence of a Triggering Event, upon its receipt of a Material Claim Notice from Cedant in accordance with Section 5.04, Reinsurer may, without prior consent from or contemporaneous notice to Cedant, withdraw Assets from the Trust Account with a Fair Market Value equal to such Material Claim Amount in accordance with the procedures set forth in the Trust Agreement.

More Definitions of Material Claim

Material Claim means any Claim for an amount which represents or is reasonably likely to represent a Cost of Discharging Liabilities of more than £1,000,000.

Material Claim means any claim or demand by a third party as to which no lawsuit or other legal proceeding has actually been initiated, but only if such claim or demand: (i) seeks monetary payment in excess of Twenty-Five Thousand Dollars ($25,000); (ii) when aggregated with all other claims or demands (if any) within the subject matter of this Section 16, whether such other claims or demands have been resolved or are pending, would cause the total of the amounts paid by or demanded of the indemnified party to exceed One Hundred Thousand Dollars ($100,000); or (iii) would require that Buyer modify, or stop offering or providing, any product or service of Buyer, or would require Buyer to account to the third party, irrespective of whether a monetary payment is specified or the amount of any such monetary payment. The foregoing shall not apply, and there shall be no materiality required, as to any lawsuit or other legal proceeding actually commenced, including, but not limited to, a lawsuit or other legal proceeding based on a claim or demand by a third party the did not qualify as a Material Claim.

Material Claim means any Claim (i) that seeks monetary payment or obligations having a value in excess of $50,000 or (ii) that, when aggregated with all other Claims, seeks monetary payment or obligations having a value in excess of $100,000.

Material Claim has the meaning given in paragraph 18.3 of Schedule 5;

Material Claim means a claim for which the Purchaser is entitled to indemnification hereunder which relates to any of the following: (i) inaccuracy of Bank Statement Summary Pages or financial Reports provided to the Purchaser, (ii) material inaccuracy in the number of members of the Business as disclosed to Purchaser, (iii) if the aggregate outstanding balance of the Equipment Leases and Specified Debt exceeds $550,000 as of the Closing, or (iv) any claim by a third party which results in the foreclosure or repossession (or attempted foreclosure or repossession) of any of the Subject Assets.

Material Claim has the meaning set forth in Section 10.5(a)(i).

Material Claim means one or more claimed rights to payment of money asserted against Borrower that, individually or in the aggregate, involve asserted claims of Two Million Five Hundred Thousand Dollars ($2,500,000), or more.