Litigation Liability definition

Litigation Liability is defined in the definition of "Material Adverse Change".
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Litigation Liability means a Liability which involves any legal action for which the Trustee has received service of process.
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Litigation Liability means such liability to either or both of Eastbrokers and ▇▇▇▇▇▇ as results from any litigation during the Litigation Escrow Period with respect to ▇▇▇▇▇▇ or the Members (or Former ▇▇▇▇▇▇ Members, as the case may be) or the Special Members (or Former Special Members, as the case may be)that arises out of events or circumstances that occurred or existed either prior to the Acquisition or during the Litigation Escrow Period and attributable to the acts or omissions of any of the Former ▇▇▇▇▇▇ Members; PROVIDED, HOWEVER, that in calculating the Litigation Liability, there shall be excluded (i) any liability in connection with any matter contemplated by Section 3.14 hereof which was not disclosed on Schedule 3.14 hereto, and (ii) any Indemnified Liability for which the Former ▇▇▇▇▇▇ Members shall be responsible pursuant to Section 13.3 hereof. The amount of any Litigation Liability and the number of Returned Litigation Conversion Shares required to compensate for such Litigation Liability shall be determined as provided in Section 2.9 hereof.
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Examples of Litigation Liability in a sentence

  • The Seller shall bear the expense of all Retained Litigation Liability.

  • All reasonable expenses, if any, incurred by the Representative in connection with the performance of his, her or its duties as the Representative in connection with Litigation Liability Claims will be borne and paid by the Indemnifying Founders according to their Unit Litigation Funding Percentage (the “Litigation Representative Expenses”).

  • At any time that an Indemnified Person desires to claim a Loss that it believes is or may be indemnifiable under Section 7.9 (a “Litigation Liability Claim”), Parent will deliver a notice of such Litigation Liability Claim (a “Litigation Claims Notice”) to the Representative and the Escrow Agent.

  • A Litigation Claims Notice must (A) be signed by an officer of Parent, (B) describe the Litigation Liability Claim in reasonable detail and (C) indicate the amount of the Loss that has been or may be paid, suffered, sustained or accrued by the Indemnified Persons.

  • With respect to Litigation Liability Claims, if not paid directly to the Representative by the Indemnifying Founders, any such Representative Losses may be recovered by the Representative from the amounts in the Litigation Escrow Fund at such time as remaining amounts in the Litigation Escrow Fund would otherwise be distributable to the Indemnifying Founders.

  • IAC and Expedia shall be deemed to be on notice of any Shared Litigation Liability pending prior to the Effective Time.

  • The Final Judgment shall have been entered or established by settlement agreement and Agent shall have received satisfactory evidence of (i) such entry or settlement, (ii) the amount of the Net Litigation Liability and (iii) the Net Litigation Liability shall be less than or equal to $12,000,000.

  • The Final Judgment shall have been entered or established by settlement agreement and Agent shall have received satisfactory evidence (i) of such entry or settlement (including, without limitation, executed copies of any settlement agreement), (ii) of the amount of the Net Litigation Liability and (iii) that the Net Litigation Liability shall be less than or equal to $12,000,000.

  • If the Representative objects in writing to any Litigation Liability Claim made in any Litigation Claims Notice within 30 days after delivery of such Litigation Claims Notice, the Representative and Parent will attempt in good faith to agree upon the rights of the respective parties with respect to each such claim.

  • The Trustee will contest and defend each Litigation Liability to final judgment, and contest each disputed indemnity claim for Losses to final resolution under Section 5.4(b)(iii) hereof, including appropriate appeals, or settle as an appropriate resolution of the Litigation Liability or the indemnity claim for Losses, as it may determine in its discretion to be in the best interests of the Beneficiaries, but subject to the requirements of this Agreement.


More Definitions of Litigation Liability

Litigation Liability means any Loss which a member of the WH Group or GVC Group (as applicable) suffers, to the extent that it arises from any Litigation; and
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Litigation Liability means the amount of any liability of the Borrower or any Subsidiary arising out of (and equal to the amount of) any Adverse Determination.
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Litigation Liability shall have the meaning ascribed to such term in Section 2.5(b) hereof.
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Related to Litigation Liability

  • Litigation Claims means the claims, rights of action, suits or proceedings, whether in law or in equity, whether known or unknown, that any Debtor or any Estate may hold against any Person or Entity, including, without limitation, the Causes of Action of the Debtors or their Estates, in each case solely to the extent of the Debtors’ or their Estates’ interest therein. A non-exclusive list of the Litigation Claims held by the Debtors as of the Effective Date will be Filed with the Plan Supplement, which will be deemed to include any derivative actions filed against any Debtor as of the Effective Date.

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, obligation or any other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set forth therein) be deemed to be the outstanding principal amount (or maximum outstanding principal amount, if larger) of the debt, obligation or other liability guaranteed thereby.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • Risk Participation Liability means, as to each Letter of Credit, all reimbursement obligations of Borrowers to the Issuing Lender with respect to an L/C Undertaking, consisting of (a) the amount available to be drawn or which may become available to be drawn, (b) all amounts that have been paid by the Issuing Lender to the Underlying Issuer to the extent not reimbursed by Borrowers, whether by the making of an Advance or otherwise, and (c) all accrued and unpaid interest, fees, and expenses payable with respect thereto.