Initial Parties definition
Examples of Initial Parties in a sentence
Initial Parties to Term Sheet (a) Honeywell; (b) Oaktree; and (c) Centerbridge.
This Settlement Agreement shall be deemed to have been jointly drafted by the Initial Parties (except for any changes implemented after November 15, 2013, which shall be deemed to have been drafted by all Parties), and in construing and interpreting this Settlement Agreement, no provision shall be construed and interpreted for or against any of the Parties because such provision or any other provision of the Settlement Agreement as a whole is purportedly prepared or requested by such Party.
The Initial Parties agree that JPMorgan shall pay to the Institutional Investors’ counsel, ▇▇▇▇▇ & ▇▇▇▇▇, the sum of $66 million, reduced proportionally on account of any Net Losses in any Non-Settling Trusts, as a reasonable and necessary contingent attorneys’ fee (the “Attorneys’ Fee”) within thirty (30) days of the Final Expert Calculation; provided, however, that trusts that become Excluded Trusts pursuant to Section 2.08 shall not cause any proportionate reduction in the Attorneys’ Fee.
This Agreement is effective upon signature of all Initial Parties and will remain in effect unless terminated consistent with terms of this Agreement or as otherwise provided under the law.
All Parties agree to this Agreement and its Schedules being publicly disclosed by the Company (except for Schedule 1 (The Initial Consenting Creditors), which shall not be disclosed to any person other than the Initial Parties, ING and the Information Agent).