Examples of COP Service Contracts in a sentence
Among the most perplexing is the City’s revised definition of “COP Claim”:COP Claim means a Claim under or evidenced by the COP Service Contracts.
On the Effective Date, Syncora and FGIC shall, to the fullest extent permitted under law, be deemed to forever mutually release, waive and discharge all liabilities against each other relating to distributions made pursuant to or in connection with this Section II.B.3.p.i.A, Sections 6.5 and 9.1 of the Contract Administration Agreements or Section 8.03 of the COP Service Contracts.
Notwithstanding anything to the contrary in the Plan or this Order, neither FGIC nor the COP Trustee shall be required to file any Claims arising out of the rejection of the COP Service Contracts pursuant to the Plan, which Claims are resolved and treated pursuant to the terms of the FGIC/COP Settlement Documents and the Plan.
Here again, the claims do not arise under, and are not evidenced by, the COP Service Contracts.
The only possible result of this review is prospective, with a recommendation that OPA handle similar cases differently in the future.
Under the Plan, Syncora’s fraud and fraudulent inducement claims are Class 14 claims because they do not arise under, and are not evidenced by, the COP Service Contracts and are not otherwise excluded by the definition of “Other Unsecured Claims.” Under the Solicitation Procedures Order, such claims are to be voted in the amount of $1.
The payments contemplated under the COP Service Contracts are owed to the COP Service Corporations.
Under one interpretation, “COP Claims” means only claims against the City, under the COP Service Contracts.
As such, Syncora’s breach of contract claim is now also an anticipatory breach claim because the City has made clear with the filing of the adversary proceeding that it intends to repudiate its obligations under the COP Service Contracts.
With exclusive contracts, however, a platform can set arbitrarily high non- exclusive prices (so that sellers never choose to multihome regardless of the rival platform’s offer) and then offer a slight price cut relative to the rival platform to attract all sellers exclusively.