The right to require repayment of funds set aside for a specific purpose that have been disbursed in a manner inconsistent with or contrary to the rules or agreements governing the disbursement. In the context of an acquisition, a buyer may have 'claw back rights' with respect to part of the purchase price if the target company fails to meet agreed upon milestones after the acquisition. In the context of a venture capital fund, investors may have claw back rights if interim distributions result in the fund promoters receiving more than the contemplated carried interest.