Substantiated Claims definition

Substantiated Claims means a claim for breach of any of the warranties contained in Section 3 or any indemnity contained in Section 10 the extent that such claim is admitted by the Sellers Representative, no response has been received by the Sellers Representative within 21 days of receiving details of such claim in accordance with Section 10.02(b) or has been adjudicated upon in favour of the Purchaser by a Court of competent jurisdiction.
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Substantiated Claims means as set out in Paragraph 1.4 of Schedule 7 (Limitation of Liability);
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Substantiated Claims means an Operational Warranties Claim for which the Seller is liable (whether on its own, as a contributory or otherwise), and which is admitted, settled without admission of liability, or proved or determined in a court of competent jurisdiction.
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Examples of Substantiated Claims in a sentence

  • This Section 7.11 shall only operate for purposes of establishing the Purchaser’s Knowledge, as per the date of this Agreement, in relation to a breach by the Sellers of their warranties and representation set out in Section 5 that would result in a claim or claims that are likely to meet or exceed the Substantiated Claims Amount.

  • Notwithstanding anything in this Agreement to the contrary, the provisions of this Section 9.5 shall operate to limit the ability of the Purchaser to assert what could otherwise be a claim that might qualify toward the Substantiated Claims Amount in respect of any breach of or any inaccuracy in the Warranties.

  • No claim for breach of Warranties can be asserted toward the Substantiated Claims Amount by the Purchaser where such claim is wholly attributable to any voluntary act, omission, transaction or arrangement specifically requested by the Purchaser or otherwise specifically consented to in writing by the Purchaser prior to the occurrence of such voluntary act, omission, transaction or arrangement.

  • Purchaser agrees that, to the Purchaser’s Knowledge, as of the date of this Agreement, there are no facts, circumstances or matters that, either alone or taken together, constitute a breach by Sellers of any of their representations and warranties set out in Section 5 hereof that would result in a claim or claims that are reasonably likely to meet or exceed the Substantiated Claims Amount.