Litigation Loss definition
Litigation Loss means, with respect to any Receivable, the aggregate dollar amount of any past and/or future Scheduled Payments thereon which are required to be refunded, surrendered or otherwise returned by the Trust or the Series 1997-1 Certificateholders or rendered uncollectible by the Trust (calculated on a present value basis discounted at the Discount Rate) as a result of the entry by a court of competent jurisdiction in a proceeding involving such Receivable of a final, non-appealable judgment holding that, on the sole basis that such assignment was prohibited by the terms of the Settlement Agreement (and on no other basis), the Company (and hence its direct and indirect assignees, including the Trust) did not receive a security interest or ownership interest in such Receivable enforceable against the Claimant or its creditors.
Litigation Loss means any loss of the Borrower or any Subsidiary attributable to any Adverse Determination.
Examples of Litigation Loss in a sentence
Litigation; Loss Contingencies and Violations * 6.8. Subsidiaries * 6.9. ERISA * 6.10.
Loan Documents; Special Provisions for the Borrower and Foreign Incorporated Subsidiaries 46 6.3. No Conflict; Governmental Consents 48 6.4. Financial Statements 48 6.5. No Material Adverse Effect 48 6.6. Taxes 49 6.7. Litigation; Loss Contingencies and Violations 49 6.8. Subsidiaries 50 6.9. ERISA 50 6.10.