Common use of Litigation Fund Clause in Contracts

Litigation Fund. Of the aggregate funds paid under the terms of the Funding Payment Agreement, an amount up to the aggregate sum of $400 million Net Present Value shall be defined as the “Litigation Fund.” The aggregate amount paid to resolve all Non-Settling Personal Injury Claims, Assumed Third Party Claims, Class 12 Claims, and, to the extent provided in the Litigation Facility Agreement, Litigated Shareholder Claims, plus defense and administrative costs associated with resolving Claims under the terms of the Litigation Facility Agreement, including fees of the Special Master and defense costs for the resolution of Claims in Classes 4A and 11- 17 (such defense costs and other costs and fees shall collectively be defined for purposes of this Settlement Facility Agreement as “Litigation Facility Expenses”), shall not exceed the Litigation Fund. The assets comprising the Litigation Fund shall be paid only if and as required to liquidate and resolve Claims subject to resolution under the Litigation Facility Agreement and to pay expenses of the Litigation Facility. The Litigation Fund shall be reserved for the payment of Non-Settling Personal Injury Claims, Assumed Third Party Claims, Claims of Claimants in Class 12, and, to the extent provided in the Litigation Facility Agreement, Litigated Shareholder Claims, and Litigation Facility Expenses, except that the Litigation Fund may be accessed for purposes of payment of portions of certain Claims of Settling Personal Injury Claimants Allowed under the terms of this Agreement under the conditions outlined at Sections 7.01 and 7.03 below.

Appears in 3 contracts

Samples: And Fund Distribution Agreement, And Fund Distribution Agreement, And Fund Distribution Agreement

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Litigation Fund. Of the aggregate funds paid under the terms of the Funding Payment Agreement, an amount up to the aggregate sum of $400 million Net Present Value shall be defined as the “Litigation Fund.” The aggregate amount paid to resolve all Non-Non- Settling Personal Injury Claims, Assumed Third Party Claims, Class 12 Claims, and, to the extent provided in the Litigation Facility Agreement, Litigated Shareholder Claims, plus defense and administrative costs associated with resolving Claims under the terms of the Litigation Facility Agreement, including fees of the Special Master and defense costs for the resolution of Claims in Classes 4A and 11- 11-17 (such defense costs and other costs and fees shall collectively be defined for purposes of this Settlement Facility Agreement as “Litigation Facility Expenses”), shall not exceed the Litigation Fund. The assets comprising the Litigation Fund shall be paid only if and as required to liquidate and resolve Claims subject to resolution under the Litigation Facility Agreement and to pay expenses of the Litigation Facility. The Litigation Fund shall be reserved for the payment of Non-Settling Personal Injury Claims, Assumed Third Party Claims, Claims of Claimants in Class 12, and, to the extent provided in the Litigation Facility Agreement, Litigated Shareholder Claims, and Litigation Facility Expenses, except that the Litigation Fund may be accessed for purposes of payment of portions of certain Claims of Settling Personal Injury Claimants Allowed under the terms of this Agreement under the conditions outlined at Sections 7.01 and 7.03 below.

Appears in 1 contract

Samples: Fund Distribution Agreement

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