ASC Suit definition
ASC Suit is defined in Section 10.4 hereof.
Examples of ASC Suit in a sentence
Any amounts so held by the escrow agent pursuant to the Escrow Agreement shall be held until a final, non-appealable adjudication of the SPLC Suit or ASC Suit has been determined or the Parties have settled such suit.
Notwithstanding the foregoing, no such holdback or offset may be made by any such Party unless such Party has (i) filed an ASC Suit or SPLC Suit, as provided above; (ii) the amount to be so held back and set off must be for the amount plead in the suit as actual damages (plus attorneys' fees pursuant to Section 12.14 below) only; and (iii) the amount to be so held back and set off must be deposited in cash in an escrow pursuant to the escrow agreement attached hereto as Exhibit I (the "Escrow Agreement").