Common use of Debt Indemnification Clause in Contracts

Debt Indemnification. a) Indemnification level - Net Debt Subject to a deductible as specified as the case may be in the Special Terms, We shall pay the insured percentage of the Net Debt or of the Positive Credit Decision if the Net Debt exceeds the Positive Credit Decision. The Net Debt shall correspond to the balance of the following loss account: on the debit side : • the value of the invoices, covered under this Contract, including, as appropriate: - the VAT, if this tax is covered under this Contract as specified in the Special Terms - any interest payable up to the Due Date (excluding interests that accrue thereafter), - the packing, transport and insurance costs and any taxes owed by the Buyer. on the credit side: • the amount of any Recoveries received by You or by Us up to the date of calculation of the Net Debt. a third party, when goods are handed over to the Buyer, or anyone acting on his behalf, at the place and pursuant to the terms specified in the Sales Contract. • for performance of services: on the date of performance of the services for which payment is due pursuant to the Sales Contract. Dispute: any disagreement regarding the amount of the Debt or the validity or enforceability of your rights, including any disagreement about setting off sums You may owe your Buyer involving setting off sums your Buyer claims You owe him under a Sales Contract or any other contractual arrangements between You and your Buyer. Due date: the initial date when the Buyer must pay for his Debt according to the Sales Contract. Insolvency: [local definition] Natural Disaster: an environmental event such as but not limited to a volcanic eruption, earth- quake, tidal wave, typhoon or flood. Net Debt: the amount of loss calculated pursuant to article 3.2.1 above which may be indemnified according to the terms and conditions of this Contract. Non-Payment: non-payment of the Debt by the Buyer on the date, in the currency and in the Definitions Definitions 8 b) Date of payment Provided that You have complied with all the terms of the Contract, We shall indemnify You within 30 days from (i) the receipt by Us of all the documents specified in article

Debt Indemnification. a) Indemnification level - Net Debt Subject to a deductible as specified as the case may be in the Special Terms, We shall pay the insured percentage of the Net Debt or of the Positive Credit Decision if the Net Debt exceeds the Positive Credit Decision. The Net Debt shall correspond to the balance of the following loss account: on the debit side : • the value of the invoices, covered under this Contract, including, as appropriate: - the VAT, if this tax is covered under this Contract as specified in the Special Terms - any interest payable up to the Due Date (excluding interests that accrue thereafter), - the packing, transport and insurance costs and any taxes owed by the Buyer. on the credit side: • the amount of any Recoveries received by You or by Us up to the date of calculation Delivery: occurs: • for domestic sales of goods: when the Net Debtgoods are handed over or made available to the Buyer, or anyone acting on his behalf, at the place and pursuant to the terms specified in the Sales Contract. If it has been agreed between You and Your Buyer that the goods must be made avai- lable to the Buyer, the Sales Contract shall specify it expressly in writing. • for export sales of goods: when the goods are handed over to a third party – generally a carrier – to take them to the place of delivery specified in the Sales Contract or, by absence of such a third party, when goods are handed over to the Buyer, or anyone acting on his behalf, at the place and pursuant to the terms specified in the Sales Contract. • for performance of services: on the date of performance of the services for which payment is due pursuant to the Sales Contract. Dispute: any disagreement regarding the amount of the Debt or the validity or enforceability of your rights, including any disagreement about setting off sums You may owe your Buyer involving setting off sums your Buyer claims You owe him under a Sales Contract or any other contractual arrangements between You and your Buyer. Due date: the initial date when the Buyer must pay for his Debt according to the Sales Contract. Insolvency: [local definition] Natural Disaster: an environmental event such as but not limited to a volcanic eruption, earth- quake, tidal wave, typhoon or flood. Definitions Definitions 8 of the Net Debt: the amount of loss calculated pursuant to article 3.2.1 above which may be indemnified according to the terms and conditions of this Contract. Non-Payment: non-payment of the Debt by the Buyer on the date, in the currency and in the Definitions Definitions 8. b) Date of payment Provided that You have complied with all the terms of the Contract, We shall indemnify You within 30 days from (i) the receipt by Us of all the documents specified in article

Debt Indemnification. a) Indemnification level - Net Debt Subject to a deductible as specified as the case may be in the Special Terms, We shall pay the insured percentage of the Net Debt or of the Positive Credit Decision if the Net Debt exceeds the Positive Credit Decision. The Net Debt shall correspond to the balance of the following loss account: on the debit side : • the value of the invoices, covered under this Contract, including, as appropriate: - the VAT, if this tax is covered under this Contract as specified in the Special Terms - any interest payable up to the Due Date (excluding interests that accrue thereafter), - the packing, transport and insurance costs and any taxes owed by the Buyer. on the credit side: • the amount of any Recoveries received by You or by Us up to the date of calculation of the Net Debt. Definitions Delivery: occurs: • for domestic sales of goods: when the goods are handed over or made available to the Buyer, or anyone acting on his behalf, at the place and pursuant to the terms specified in the Sales Contract. If it has been agreed between You and Your Buyer that the goods must be made avai- lable to the Buyer, the Sales Contract shall specify it expressly in writing. • for export sales of goods: when the goods are handed over to a third party – generally a carrier – to take them to the place of delivery specified in the Sales Contract or, by absence of such a third party, when goods are handed over to the Buyer, or anyone acting on his behalf, at the place and pursuant to the terms specified in the Sales Contract. • for performance of services: on the date of performance of the services for which payment is due pursuant to the Sales Contract. Dispute: any disagreement regarding the amount of the Debt or the validity or enforceability of your rights, including any disagreement about setting off sums You may owe your Buyer involving setting off sums your Buyer claims You owe him under a Sales Contract or any other contractual arrangements between You and your Buyer. Due date: the initial date when the Buyer must pay for his Debt according to the Sales Contract. Insolvency: [local definition] Natural Disaster: an environmental event such as but not limited to a volcanic eruption, earth- quake, tidal wave, typhoon or flood. Net Debt: the amount of loss calculated pursuant to article 3.2.1 above which may be indemnified according to the terms and conditions of this Contract. Non-Payment: non-payment of the Debt by the Buyer on the date, in the currency and in the Definitions Definitions 8. b) Date of payment Provided that You have complied with all the terms of the Contract, We shall indemnify You within 30 days from (i) the receipt by Us of all the documents specified in article