Litigation Account definition

Litigation Account has the meaning ascribed thereto in Section 5.02(a)(ii).
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Litigation Account means any Account which, as of the applicable Closing Date, is the subject of litigation or that forms the basis of a claim against an officer, director, employee or agent of any Seller.
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Litigation Account means any account that has been identified as being involved in litigation. Project Implementation means the presentation of a fully operational, fully hosted EMS billing system for the LAFD using CONTRACTOR’s Software.
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Examples of Litigation Account in a sentence

  • It is understood and agreed that, except for the indemnification set forth in Section 12.3, the obligation of GTC and the Trustee to substitute any Uncollectible Account or Litigation Account shall constitute the sole remedy respecting such accounts available to Buyer.

  • GTC and the Trustee shall substitute each Uncollectible Account or Litigation Account with an Account which is from the same pool as the substituted Account or from Pool I and which has an Unpaid Balance which is equal to or greater than the Unpaid Balance of the substituted Account, but not less than the Unpaid Balance of the substituted Account by more than $500.

  • GTC and the Trustee shall substitute the Account within [*] days from receipt of evidence satisfactory to GTC that same is an Uncollectible Account or Litigation Account.

  • Buyer shall, within [*] days from the applicable Closing Date for each Account, notify GTC of each Account with respect to which Buyer seeks substitution and shall supply GTC with evidence satisfactory to GTC that same is an Uncollectible Account or Litigation Account.

  • On each Distribution Date, the Liquidating Trustee shall withdraw from the Litigation Account and distribute to each holder of an Allowed Investor Claim as of the applicable Record Date, an amount equal to such holder's Pro Rata share of funds on deposit in the Litigation Account on the related Transfer Date.

  • The Liquidating Trustee shall make distributions from the Collection Account to the Beneficiaries listed in the Register as of the applicable Record Date in accordance with and subject to the distribution and priority scheme set forth in the Plan, subject to the provisions contained herein relating to the Distribution Reserve, the Litigation Account, the Trust/IRA Account and the Holding Account.

  • With respect to the Litigation Account, the Secured Party shall have the right, at any time and from time to time, to exercise its rights under such Deposit Account Agreement, including, for the avoidance of any doubt, the exclusive right to give instructions to the financial institution at which the Litigation Account is maintained as to the disposition of funds or other property on deposit therein or credited thereto.

  • The Grantor, the Secured Party, and the applicable bank or depository institution shall enter into a deposit account agreement (“Deposit Account Agreement”) in the form of Exhibit C with respect to the Litigation Account providing dominion and control over the Litigation Account to the Secured Party such that upon notice by the Secured Party to such bank or depository institution of the occurrence of an Event of Default all actions under such account shall be taken solely at the Secured Party’s direction.

  • In connection with the foregoing, the Grantor hereby authorizes and directs the bank or other depository institution which maintains the Litigation Account to pay or deliver to the Secured Party upon the Secured Party’s written demand thereof made at any time after the occurrence of an Event of Default has occurred the balance in the Litigation Account for application to the Obligations then outstanding.

  • The Grantor shall have no right to use the funds in the Litigation Account unless and until: (i) the Secured Party provides written authorization to use such funds; or (ii) the full and final payment of the Obligations.

Related to Litigation Account

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Collection Account shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

  • Settlement Account means an account at a financial institution designated by Merchant as the account to be debited and credited by Bank for Transactions, fees, Chargebacks and other amounts due under the Merchant Agreement.