Pending Claims definition
Examples of Pending Claims in a sentence
Any amounts segregated with respect to Pending Claims shall be released as provided in Section 5(b).
The amount representing any Pending Claims shall be released in favour of the relevant Parties within ten (10) Business Days following the execution of a settlement agreement by the Parties in relation to such Pending Claims or the notification of a final award in respect thereof.
For clarity, the Seller Note and the Mortgage shall continue in effect, and the Mortgage shall not be released, prior to the final determination of all Pending Claims and the satisfaction in full of all payment obligations, if any, owing by Buyer under the Seller Note in respect of any such Offset Reversal(s).
After the Escrow Expiration Date, any Escrow Property remaining in the Escrow Account that is not subject to Pending Claims, if any, and not subject to resolved but unpaid claims in favor of an Indemnified Party, shall be transferred by the Escrow Agent to the Seller.
This Agreement shall terminate at the time of the final resolution of all Pending Claims and, if any amount remains thereunder, disbursement of the Funds, all in accordance with the provisions of this Agreement.