Sum Recovered definition

Sum Recovered means an amount equal to the total of the amount recovered from the other person less all reasonable costs incurred by any member of the Purchaser’s Group in recovering the amount from the person.

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

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.
The Seller Debenture shall be exclusively paid in the form of Seller Common Stock, provided, however, that the principal balance due under the Seller Debenture 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 Attis 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.
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 means an amount equal to the total of the amount recovered from the other person.

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 has the meaning given to it in Schedule 5 (Limitations on Seller Liability);

Sum Recovered means an amount equal to the total amount recovered from the other person less all reasonable costs incurred by a member of the Purchaser Group in recovering the amount from that other person. Where the amount recovered by a member of the Purchaser Group is by way of a relief or credit, “Sum Recovered” means an amount that a member of the Purchaser Group will save by virtue of the relief or credit less all reasonable costs incurred by such member of the Purchaser Group in recovering the amount from the person. Any payment to the Seller pursuant to this paragraph 6 shall be made to the Seller’s Bank Account or such other account notified in writing to the Purchaser not less than ten Business Days prior to the date of payment.

Sum Recovered means an amount that a member of the Purchaser Group will save by virtue of the relief or credit less all reasonable costs incurred by such member of the Purchaser Group in recovering the amount from the person. Any payment to the Seller pursuant to this paragraph 6 shall be made to the Seller’s Bank Account or such other account notified in writing to the Purchaser not less than ten Business Days prior to the date of payment.

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

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