Covered Litigation definition

Covered Litigation means the “U.S. covered litigation” described under the caption “U.S. Retrospective Responsibility Plan” and certain existing and potential litigation relating to the setting of multilateral interchange fee rates in the Visa Europe territory described under the caption “Europe Retrospective Responsibility Plan”, in each case appearing in Note 3 to Visa Inc.’s Consolidated Financial Statements for the fiscal year ended September 30, 2016 included in the Form 10-K filed by Visa Inc. with the Securities and Exchange Commission on November 15, 2016.

Covered Litigation means any claim by a Stockholder against Investor or any Investor Related Party arising out of or related to the Contemplated Transactions.

Covered Litigation has the meaning given such term in the Form 10-K filed by Visa Inc. with the Securities and Exchange Commission on November 21, 2014.

Examples of Covered Litigation in a sentence

• Visa International or Visa USA is a party as of the date hereof to any Contract with any other Person with respect to the sharing of any Liabilities in connection with any of the Covered Litigation.

• Upon Final Resolution of any of the Covered Litigation, the Company may deliver to the Indemnitor from time to time, a written notice (an "Indemnification Notice”) setting forth a claim by the Company against the Indemnitor for indemnification of Litigation Losses and Legal Expenses arising from such Covered Litigation (an "Indemnification Claim”).

• Under the current structure, when the U.S. Covered Litigation is fully resolved, all Class B common stockholders will be free to convert and sell their shares immediately, with no timing restrictions.

• Under the U.S. Retrospective Responsibility Plan, all U.S. Covered Litigation must be fully resolved for the remaining Class B common shares to be released.

• The Seller shall promptly keep the Company and the Purchaser fully advised on the proceedings in the Covered Litigation and the status and results thereof.

More Definitions of Covered Litigation

Covered Litigation means the “U.S. covered litigation” described under the caption “U.S. Retrospective Responsibility Plan” and certain existing and potential litigation relating to the setting of multilateral interchange fee rates in the Visa Europe territory described under the caption “Potential Visa Europe Liabilities”, in each case appearing in Note 3 to Visa Inc.’s Consolidated Financial Statements for the fiscal year ended September 30, 2015 included in the Form 10-K filed by Visa Inc. with the Securities and Exchange Commission on November 20, 2015.

Covered Litigation has the meaning set forth in Section 7.9(b).

Covered Litigation has the meaning given such term in Amendment No. 3 to the Form S-1 Registration Statement filed by Visa Inc. with the Securities and Exchange Commission on February 13, 2008.

Covered Litigation means any Proceeding pending against the Company and/or any Company Subsidiary as of the date hereof, including, without limitation, those Proceedings listed in Section 3.22(a) of the Company Disclosure Schedule.

Covered Litigation means the specific lawsuits listed on Exhibit A attached hereto, including any and all cross-claims or counter-claims that have or may in the future arise in such litigation and any additional litigation that arises asserting claims that were raised or that could have been raised in the litigation listed on Exhibit A.

Covered Litigation means the “U.S. covered litigation” described under the caption “U.S. Retrospective Responsibility Plan” and certain existing and potential litigation relating to the setting of multilateral interchange fee rates in the Visa Europe territory described under the caption “Europe Retrospective Responsibility Plan”, in each case appearing in Note 2 to Visa Inc.’s Consolidated Financial Statements for the fiscal year ended September 30, 2018 included in the Form 10-K filed by Visa Inc. with the Securities and Exchange Commission on November 16, 2018, in Note 4 to Visa Inc.’s Consolidated Financial Statements for the fiscal quarter ended March 31, 2019 included in the Form 10-Q filed by Visa Inc. with the Securities and Exchange Commission on April 26, 2019, in Note 5 and Note 20 to Visa Inc.’s Consolidated Financial Statements for the fiscal year ended September 30, 2022 included in the Form 10- K filed by Visa Inc. with the Securities and Exchange Commission on November 16, 2022 and in Note 4 and Note 12 to Visa Inc.’s Consolidated Financial Statements (Unaudited) for the fiscal quarter ended March 31, 2023 included in the Form 10-Q filed by Visa Inc. with the Securities and Exchange Commission on April 27, 2023.

Covered Litigation shall have the meaning set forth in Section 10.2(b).