Litigation Fund definition

Litigation Fund means the fund in the initial amount of $30 million held by Reorganized Garrison for payment of Litigation Option Expenditures associated with Litigation Option Claims (or the completion of appeals for Pre-Petition Judgment GST Asbestos Claims) in excess of the CRP Value for such Claims, as well as Litigation Management Fees.

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Litigation Fund means the fund held by Reorganized Garrison for payment of Litigation Option Expenditures associated with Litigation Option Claims (or the completion of appeals for Pre-Petition Judgment GST Asbestos Claims) in excess of the CRP Value for such Claims, in the initial amount of $5 million in Cash and the Litigation Fund Note with a value of $25 million net present value secured by insurance receivables.

Litigation Fund means a fund of two hundred fifty thousand dollars ($250,000), with the amount remaining in such fund adjusted each year of the Term pursuant to the Consumer Price Index rate, to be available throughout the Term until such fund has been depleted.‌

Examples of Litigation Fund in a sentence

Such audits shall be prepared by a recognized national firm of independent public accountants selected by the Financial Advisor and Finance Committee, subject to approval by the District Court, and shall include a statement of disbursements allocated to each such Fund and a statement of the Net Present Value of payments to the Settlement Facility in the aggregate and Net Present Value of payments made and allocated to the Litigation Fund, and such audits shall comply with the terms of Section 8.05.
Compensation for the Special Master’s services under the Litigation Facility Agreement and the Case Management Order shall be allocated to the Litigation Fund; compensation for the Special Master’s services as a member of the Finance Committee shall be allocated to the Settlement Fund.
Litigation Payments shall be paid solely from the amount defined as the Litigation Fund and shall not in the aggregate exceed the Litigation Fund.
All categories of payment are subject to reduction if necessary to assure payment in full of First Priority Payments (subject to the limits of the Settlement Fund and the Litigation Fund).
The assets comprising the Litigation Fund shall be paid only if and as required to liquidate and resolve Claims subject to resolution under the Litigation Facility Agreement and to pay expenses of the Litigation Facility.
The Litigation Fund shall be used solely for the payment of Litigation Payments (as defined herein), except that the Litigation Fund may be used to pay First Priority Payments under the conditions set forth at Section 7.03(b).
The Settlement Fund and the Litigation Fund shall be distributed in accordance with the priorities stated below.
The Reorganized Dow Corning shall be reimbursed by the Settlement Facility from the Litigation Fund for any reasonable expenses, costs, fees, liabilities, or judgments arising out of or incurred in connection with any such Claim provided that the Reorganized Dow Corning has taken prompt action to transfer the Claim as described above.
In the event that the Settlement Fund lacks sufficient funds in the aggregate to pay in full all First Priority Payments, then the District Court may, commencing on the fourth anniversary of the Effective Date, authorize the use of the funds defined as the Litigation Fund to pay First Priority Payments.
To obtain authorization to distribute Litigation Fund assets for payment of First Priority Payments, the Finance Committee shall file a recommendation and motion with the District Court.

More Definitions of Litigation Fund

Litigation Fund means those funds in the aggregate amount of $34 million of the New

Litigation Fund means the segregated account containing $500,000 to be used to pursue Postconfir- mation Litigation.

Litigation Fund means those funds in the aggregate amount of $3 million of the New Value Contribution set aside for the prosecution of the Litigation Trust Causes of Action.

Litigation Fund shall have the meaning as set forth in Section 2.4(d).

Litigation Fund has the meaning set forth in Section 7.2.3(b). “Newco Board” has the meaning set forth in Section 3.2.1. “Operating Lease” has the meaning set forth in Recital D.

Litigation Fund means the fund to be maintained by the Settlement Facility for payment of Litigation Expenses, which fund shall be replenished on a semiannual basis to maintain a balance of at least $10 million.