Sum Recovered definition

Sum Recovered means an amount equal to so much of the amount recovered from the other person by the Buyer or a member of the Buyer's Group as does not exceed the amount of any payment by the Sellers in satisfaction of the relevant claim less any Tax payable by the Buyer or member of the Buyer's Group in respect of that receipt and less all reasonable costs and expenses of the Buyer or the relevant member of the Buyer's Group properly incurred in recovering that receipt.

Sum Recovered means an amount equal to the total of the amount recovered from the other Person plus any interest in respect of the amount recovered from the Person less any taxes payable on such amount recovered by the Indemnified Party.

Sum Recovered means an amount equal to the total of the amount recovered from the other person.

Examples of Sum Recovered in a sentence

• The Seller Debenture shall be exclusively paid in the form of Seller’s Common Stock, provided, however, that the principal balance due hereunder shall be reduced on a dollar for dollar basis in an amount equal to any Distributions paid by JVCo, including, without limitation, proceeds from Lump Sum Recovered Amounts, to Buyer and/or its Related Persons under the JVCo Operating Agreement.

• Notwithstanding anything stated herein to the contrary, the term Consolidated EBITDA shall exclude Lump Sum Recovered Amounts, which amounts shall be administered in accordance with Section 2.2.1.2 of this Schedule 2.0. For avoidance of doubt, Recovered Amounts that are not Lump Sum Recovered Amounts shall be included in the definition of Consolidated EBITDA.

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• Notwithstanding anything stated to the contrary herein or the Transaction Documents, unless otherwise mutually agreed in writing by each Party to the SPA, 100% of the proceeds received upon payment of any Lump Sum Recovered Amounts shall be paid as special distributions immediately upon receipt by the Company according to the priorities set forth in Section 2.2.1.2 of Schedule 2.0 to the SPA.

More Definitions of Sum Recovered

Sum Recovered has the meaning set out in paragraph 8.2 of Schedule 5;

Sum Recovered shall have such meaning as ascribed to the term in Clause 7.6(d)(vi);

Sum Recovered has the meaning set out in clause 8.5.2;

Sum Recovered means an amount equal to the total of the amount recovered from the other person (less any Tax suffered by any HCC Group Company in respect thereof and all costs properly incurred by any HCC Group Company in recovering the amount from the person) plus any interest (at LIBOR at the start of the period referred to below) in respect of such net amount for the period following the recovery of the amount from that person and after the payment by the Seller(s) of the Relevant Claim.

Sum Recovered has the meaning given to that term in paragraph 6 of schedule 6;

Sum Recovered means the amount recovered from the third party less all reasonable costs and expenses incurred by the Company in recovering the amount from the third party; and

Sum Recovered means an amount equal to the total of the amount recovered from the other person plus any interest in respect of the amount recovered from the person less any Tax computed by reference to the amount recovered from the person payable by a Vernalis Group Undertaking and less all reasonable costs incurred by a Vernalis Group Undertaking in recovering the amount from the person.