Operational Liabilities definition

Operational Liabilities means any Liabilities, costs and expenses incurred in connection with the operation of the Business at the Former Queretaro Facility by Purchaser and the Acquired Companies from and after the Closing.
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Operational Liabilities means certain specified day-to-day trading and operational liabilities of African Bank as at the Transaction Effective Date, as determined by the Curator, arising from the Operational Contracts to be transferred to the Issuer (including the Hedging Liabilities, but excluding, for the avoidance of doubt, any remaining liabilities arising out of any other hedging or facility agreements) which have not been settled in the ordinary course. Operational Liabilities will be transferred in full (without any deduction) to the Issuer on the Transaction Effective Date in accordance with sections 54 and 69(2C) of the Banks Act, whilstother sundry operational liabilities not specified for transfer will be treated as Other Senior Claims, if timeously proven;
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Operational Liabilities means BXI’s liabilities as of the Signing Date solely with respect to Accounts Payable, legal fees and expenses and audit fees incurred as of the Signing Date for legal and audit services provided to BXI as of or prior to the Signing Date, notes payable (other than the Shareholder Debt), any expenses of the Principal Stockholder on behalf of BXI pursuant to the Cost-Sharing Agreement by and between BXI and Intagio Trading Network, Inc., dated as of August 6, 2004 (which compensate the Principal Stockholder for Xx Xxxxxxxxx services as BXI’s interim president), amounts due to Xxx Xxxxxx and Xxxxxx Banner with respect to expense reimbursements and monthly consulting payments, amounts due to Xxx Xxxxxx & Company, commissions due to Area Directors, in each case only to the extent required to be set forth as a liability on BXI’s balance sheet in accordance with GAAP. Operational Liabilities shall exclude all other categories of liabilities of BXI, including, but not limited to, the items on BXI’s balance sheet referred to as “Deferred revenue,” “Accrued commissions payable to Area Directors” and “Other current liabilities” (to the extent “Other current liabilities” is comprised of “credit balances in accounts receivables,” which amount was $68,334 as of May 31, 2005), Shareholder Debt, the Intagio Receivable, and accruals for BXI’s 2005 audit and tax services.
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Examples of Operational Liabilities in a sentence

  • Except the Current Operational Liabilities which are being transferred as stated above, all other liabilities pertaining to the Corporate Debtor being sold as going concern, subject to the approval of the Judicial Authority, shall be settled, paid and extinguished as per Section 53 of IBC.

  • Following receipt of an Operational Liabilities Notice from NDA, the Licensees and the Ultimate Parent Company shall, in relation to each matter specified in the notice, comply with clause 11.6, and the provisions of clause 11.7 shall apply in relation to each matter specified in such notice.

  • If ITEX fails to deliver such a written notice within 90 days following the Signing Date, BXI’s determination of the amount of Operational Liabilities shall be final and binding.

  • Comprises the Good Book, the Operational Assets, the Retail Deposits and the Operational Liabilities, all to be transferred to Good Bank on the Transaction Effective Date together with the Top-Up Cash Amount, if the Restructuring is implemented.

  • African Bank will sell, assign and transfer the following contracts, assets and liabilities to Good Bank on the Transaction Effective Date: • the Good Book; • the Operational Assets and Operational Contracts; • the Top-Up Cash Amount; and • the Retail Deposit Obligations and Operational Liabilities, all of which will be transferred without compromise, reduction or amendment.

  • Good Bank will, as part of the Operational Liabilities, assume 100% of the leave, severance pay and other obligations accrued for the benefit of staff since the original dates of commencement of their employment at African Bank.

  • Except the Current Operational Liabilities which are being transferred to the tune of actual figures (At the time of handover), all other liabilities pertaining to the Corporate Debtor being sold as going concern, subject to the approval of the Adjudicating Authority, shall be settled, paid and extinguished by the liquidator as per Section 53 of IBC.

  • The Operational Liabilities and Operational Contracts will transfer without any amendment to their terms as at the Transaction Effective Date.

  • The costs, fees and expenses of the Determining Accountants shall be borne by the BXI Stockholders in the event the report indicates that the Operational Liabilities were understated by more than 5% (provided that Operational Liabilities shall not be deemed to have been understated for this purpose if and to the extent the Stockholders’ Representative agrees to any adjustment prior to submission of the dispute to the Determining Accountants); otherwise ITEX shall bear all such costs, fees and expenses.

  • Good Bank's liabilities on the Transaction Effective Date will comprise: • liabilities transferred to Good Bank from African Bank in terms of section 54 of the Banks Act, being Retail Deposit Obligations and Operational Liabilities; and • new debt instruments issued by Good Bank in terms of the Sale of Business Agreement, comprising various categories of New Senior Debt Instruments and up to ZAR1.485 billion of Subordinated Debt Instruments (excluding accrued interest).


More Definitions of Operational Liabilities

Operational Liabilities means the liabilities incurred in the operation of the businesses of the Group Companies owed by the Group Companies to third parties other than (i) any members of the Caesars Group or (ii) any Group Companies;
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Operational Liabilities means Liabilities of Insight Parent or its Subsidiaries (other than the Partnership and its Subsidiaries) that are primarily and directly related to the operation of the business of the Partnership and that would ordinarily be direct Liabilities of the Person who was the owner of the Systems (assuming the Systems were managed by an unaffiliated third party). For the avoidance of doubt, Operational Liabilities shall not include any Liabilities primarily related to corporate overhead (including corporate office management, development, internal accounting and finance management).
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Operational Liabilities means the liabilities incurred in the operation of the businesses of the Group Companies owed by the Group Companies to third parties other than (i) any members of the
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Related to Operational Liabilities

  • General Liabilities shall have the meaning given it in Article III, Section 6(b) of this Declaration of Trust;

  • Professional liability insurance means insurance against legal liability incident to the practice of a profession and provision of a professional service.

  • Personal liability means personal liability for a debt, liability, or other obligation of an organization which is imposed on a person that co-owns, has an interest in, or is a member of the organization:

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Retained Environmental Liabilities means all Environmental Liabilities of Seller or its Affiliates arising out of or relating to operations or activities that are not primarily related to the Business, whether arising or related to the period before or after Closing.

  • Environmental Liabilities and Costs means all liabilities, monetary obligations, Remedial Actions, losses, damages, punitive damages, consequential damages, treble damages, costs and expenses (including all reasonable fees, disbursements and expenses of counsel, experts, or consultants, and costs of investigation and feasibility studies), fines, penalties, sanctions, and interest incurred as a result of any claim or demand by any Governmental Authority or any third party, and which relate to any Environmental Action.

  • Assumed Environmental Liabilities has the meaning specified in Section 7.4.

  • Environmental Costs and Liabilities means any and all losses, liabilities, obligations, damages, fines, penalties, judgments, actions, claims, costs and expenses (including, without limitation, fees, disbursements and expenses of legal counsel, experts, engineers and consultants and the costs of investigation and feasibility studies and remedial activities) arising from or under any Environmental Law or order or contract with any Governmental Authority or any other Person.

  • Excluded Environmental Liabilities means any and all Environmental Liabilities whether arising before, at or after the Effective Time, to the extent relating to, resulting from, or arising out of the past, present or future operation, conduct or actions of Xxxxxxx Retained Business.

  • Environmental Liabilities means all liabilities, monetary obligations, losses, damages, costs and expenses (including all reasonable fees, disbursements and expenses of counsel, experts, or consultants, and costs of investigation and feasibility studies), fines, penalties, sanctions, and interest incurred as a result of any claim or demand, or Remedial Action required, by any Governmental Authority or any third party, and which relate to any Environmental Action.

  • Environmental Liability means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrower or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

  • Total Liabilities is on any day, obligations that should, under GAAP, be classified as liabilities on Borrower’s consolidated balance sheet, including all Indebtedness.

  • Pre-Closing Environmental Liabilities means all environmental conditions at or arising from operations at the Owned Real Property at any time prior to the Closing Date, irrespective of the date of its discovery, including arising as a result of the presence or any Release of any Hazardous Substance on, at, under or migrating onto or from the Owned Real Property, including any environmental conditions on, at, under or migrating onto or from the Owned Real Property in Schedule 1.1(3).

  • Environmental, Health and Safety Liabilities means any cost, damages, expense, liability, obligation or other responsibility arising from or under any Environmental Law.

  • 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.

  • Material Environmental Liabilities means Environmental Liabilities exceeding $500,000 in the aggregate.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • SpinCo Liabilities shall have the meaning set forth in Section 2.3(a).

  • Operational Expenses means expenses of the clerk of court used to maintain the clerk's office and includes, but is not limited to, (i) computer support, maintenance, enhancements, upgrades, and replacements and office automation and information technology equipment, including software and conversion services; (ii) preserving, maintaining, and enhancing court records, including, but not limited to, the costs of repairs, maintenance, consulting services, service contracts, redaction of social security numbers from certain records, and system replacements or upgrades; and (iii) improving public access to records maintained by the clerk, including locating technology in an offsite facility for such purposes or for implementation of a disaster recovery plan.

  • Covered Liabilities as defined in Subsection 11.23.

  • Loss of Activities of Daily Living means that, due to an Injury or Sickness, the Insured Employee has lost the ability to safely and completely perform two or more of the following six Activities of Daily Living without another person's active, hands-on help with all or most of the activity.

  • Product Liabilities means all claims, Liabilities and Proceedings related to or arising from actual or alleged harm, injury, damage or death to persons, animals, property or business, irrespective of the legal theory asserted, and resulting from or alleged to result from the use, sale or manufacture of the Products.

  • Intra-Group Liabilities means the Liabilities owed by any member of the Group to any of the Intra-Group Lenders.

  • Employee Liabilities means all claims, actions, proceedings, orders, demands, complaints, investigations (save for any claims for personal injury which are covered by insurance) and any award, compensation, damages, tribunal awards, fine, loss, order, penalty, disbursement, payment made by way of settlement and costs, expenses and legal costs reasonably incurred in connection with a claim or investigation including in relation to the following: redundancy payments including contractual or enhanced redundancy costs, termination costs and notice payments; unfair, wrongful or constructive dismissal compensation; compensation for discrimination on grounds of sex, race, disability, age, religion or belief, gender reassignment, marriage or civil partnership, pregnancy and maternity or sexual orientation or claims for equal pay; compensation for less favourable treatment of part-time workers or fixed term employees; outstanding debts and unlawful deduction of wages including any PAYE and National Insurance Contributions in relation to payments made by the Customer or the Replacement Supplier to a Transferring Supplier Employee which would have been payable by the Supplier or the Sub-Contractor if such payment should have been made prior to the Service Transfer Date; claims whether in tort, contract or statute or otherwise; any investigation by the Equality and Human Rights Commission or other enforcement, regulatory or supervisory body and of implementing any requirements which may arise from such investigation;

  • Consolidated Total Liabilities means total liabilities and all mandatorily redeemable preferred stock of Borrower and its Restricted Subsidiaries, on a consolidated basis, all as determined in accordance with GAAP.

  • Excluded Liabilities has the meaning set forth in Section 2.4.