Ordinary Course Liabilities definition

Ordinary Course Liabilities means those obligations incurred in the ordinary course of business by one or more of the Debtors following the Petition Date.

Ordinary Course Liabilities means obligations of the Seller with respect to Accounts as of the Cut-Off Time arising in the ordinary course of Account management, including liabilities for ordinary course billing errors, ordinary course disputes (including write-offs, credit adjustments or balance waivers in connection with ordinary-course collections actions with respect to individual Accountholders), ordinary course customer service adjustments, ordinary course redebits for returned payments, and similar ordinary course adjustments with respect to transactions that occurred at or before the Cut-Off Time, in each case to the extent such obligations or adjustments are taken into account in the determination of the Program economics pursuant to Schedule 9.1 of the Program Agreement.

Ordinary Course Liabilities means obligations of Sellers with respect to Accounts as of the Cut-Off Time arising in the ordinary course of account management, including (i) obligations with respect to payment of credit balances, and with respect to credit for returned goods and services, and (ii) Liability for ordinary course billing errors, ordinary course disputes (including write-offs, credit adjustments or balance waivers in connection with ordinary-course collections Actions with respect to individual Cardholders), fraud (other than that which results from wrongful acts of the Sellers), ordinary course customer service adjustments, redebits for returned payments, and similar ordinary course adjustments with respect to transactions that occurred at or before the Cut-Off Time, in each case to the extent such adjustments are subject to the settlement provisions of the Credit Card Program Agreement; provided, that Ordinary Course Liabilities do not include Liabilities relating to any failure by Sellers or their Affiliates to comply with applicable Requirements of Law or the terms or conditions of the Credit Card Agreements prior to the Cut-Off Time to the extent such failure arose from a system process, account management practice or procedure or other action or omission that impacted multiple Cardholders.

Examples of Ordinary Course Liabilities in a sentence

• For avoidance of doubt, the Acquiring Fund shall not assume or agree to pay, satisfy, discharge or perform any Acquired Fund Ordinary Course Liabilities other than those consisting of payables for securities purchased (including accrued fees and expenses and payables for share redemptions), any contingent liabilities, or any liabilities arising under any plan adopted by the Acquired Fund under Rule 12b-1 with respect to the sale of the Acquired Fund's shares prior to the Closing Date.

• The Acquired Fund will discharge all of its Acquired Fund Ordinary Course Liabilities which have not been assumed by the Acquiring Fund under Section 2 hereof as such liabilities become due, and will on the Closing Date establish cash reserves in the amount of such unassumed and outstanding Acquired Fund Ordinary Course Liabilities.

• Subject to receiving the requisite approval of the shareholders of the Acquired Fund, and subject to other terms and conditions contained in this Agreement and on the basis of the representations and warranties contained in this Agreement, on the Closing Date, the Acquiring Fund shall assume and thereafter in due course pay and fully satisfy, discharge or perform the Acquired Fund Ordinary Course Liabilities which consist of payables for securities purchased.

• Each Acquiring Fund xxxxxx xxxx xxx Xcquired Funds will not be terminated as separate series of MSF until such time as the Acquired Fund Ordinary Course Liabilities which have not been assumed by the Acquiring Fund under Section 2 of the Reorganization have been discharged.

• All Ordinary Course Liabilities are deemed to be Allowed Claims to the extent set forth in the Approved Budget.

More Definitions of Ordinary Course Liabilities

Ordinary Course Liabilities means Liabilities incurred by the Company from time to time in the ordinary course of business under and in accordance with the terms of the Insurance Contracts; provided, however, that “Ordinary Course Liabilities” shall not include any Liabilities incurred by the Company due to bad faith claims under the Insurance Contracts, claims under the Insurance Contracts that are not within applicable policy limits or any other claims under the Insurance Contracts that are not within the express terms of the Insurance Contracts or are extra-contractual obligations.

Ordinary Course Liabilities means obligations of Company Entities with respect to Accounts as of the Cut-Off Time arising in the ordinary course of account management, including Liability for ordinary course billing errors, ordinary course disputes (including write-offs, credit adjustments or balance waivers in connection with ordinary-course collections Actions with respect to individual Cardholders), ordinary course customer service adjustments, redebits for returned payments, and similar ordinary course adjustments with respect to transactions that occurred at or before the Cut-Off Time, in each case to the extent such adjustments are subject to the settlement provisions of the Credit Card Program Agreement; provided, that Ordinary Course Liabilities do not include (a) any Liabilities relating to any failure by the Company Entities or their Affiliates to comply with applicable Requirements of Law or the terms or conditions of the Credit Card Agreements prior to the Closing Date or (b) adjustments for Fraud and adjustments that result from fraudulent acts by the Company Entities and any employees or representatives thereof).

Ordinary Course Liabilities as defined in Section 4.9.

Ordinary Course Liabilities has the meaning set forth in Section 2.3(a)(i).

Ordinary Course Liabilities means all liabilities and obligations that arise in the ordinary course with respect to ownership of the Properties that accrue from and after the Effective Time, including without limitation, the obligation to plug and abandon wxxxx and remove production facilities.

Ordinary Course Liabilities means an Administrative Claim (other than Professional Compensation Claims, §503(b)(3)(D) claims and §363 fee claims) based on liabilities incurred with respect to the operation or the wind down of the Debtors’ businesses.

Ordinary Course Liabilities means Liabilities from time to time in the ordinary course of business under Reinsurance Agreements for (a) claims, (b) claim expenses, (c) brokerage and agency fees and commissions, (c) experience refunds, (d) profit commissions, (e) persistency bonuses, (f) allowances, (g) expense reimbursements, (h) refunds or returns of premiums, including unearned premiums, (i) premium taxes, (j) premium tax allowances, (j) premiums, (k) regulatory or guaranty fund assessments, (l) Liabilities of the reinsured as specified in Reinsurance Agreements and (m) any other Liabilities under the terms of the Reinsurance Agreements in the ordinary course of business substantially similar to any of the foregoing; provided that, without limiting the meaning of "ordinary course of business," the parties agree that such phrase shall not include any claims by counterparties under Reinsurance Agreements that amounts paid by them under such Reinsurance Agreements were paid in error and exceeded the amount due thereunder at the time of payment.