Joint Prosecution Agreement definition
Joint Prosecution Agreement means an agreement governing the division and allocation of duties and responsibilities for the prosecution of any Insurance Action by and among Debtor, Carrier, and the Committee. All parties agree that such agreement shall include terms requiring: a. written consent from all parties prior to negotiating or executing any settlement agreement with any insurer concerning an Insurance Policy.; b. written consent from all parties prior to dismissing any insurer from an Insurance Action, or before dismissing any Claim against any insurer from an Insurance Action; and c. all significant decisions with respect to prosecution of an Insurance Action made collaboratively among the parties. For the avoidance of doubt, this obligation will include a responsibility for each party to collaborate with the others before filing any paper with respect to a dispositive motion and shall include an obligation for Carrier to cooperate in a commercially reasonable manner with the Committee to secure RTX’s consent, to the extent it is required under the 2020 Separation Agreement or the RTX Waiver, to any Insurance Settlement.
Examples of Joint Prosecution Agreement in a sentence
After approval by the Court, attorneys fees shall be awarded and divided according to the terms of the Joint Prosecution Agreement (JPA) between Plaintiffs counsel: 40% of the gross fee to ArchCity Defenders, 40% of the gross fee to Tycko & Zavare▇▇, ▇nd 20% of the gross fee to Keane Law LLC.
Nothing contained in this Agreement shall be deemed to alter or limit the terms of that certain Joint Prosecution Agreement among certain of the parties hereto, their counsel and financial advisors.