Examples of Litigation Obligations in a sentence
Subject to the provisions of this Guaranty, each Guarantor hereby severally (based upon their respective Ratable Shares) and not jointly, irrevocably and unconditionally guarantees to Agent and Lenders, and their respective successors, endorsees, transferees and assigns, the prompt payment (whether at stated maturity, by acceleration or otherwise) of the Litigation Obligations of Borrower (hereinafter the "Guaranteed Obligations").
The Litigation Obligations shall constitute a single, but separate, general obligation of Borrower secured, until the Termination Date, by all of the Collateral pursuant to the Litigation Collateral Documents.
Except with respect to the Litigation Obligations, all Loans to Borrower and all of the other Obligations of Borrower arising under this Agreement and the other Loan Documents (other than the Litigation Collateral Documents) shall constitute one general obligation of Borrower secured, until the Termination Date, by all of the Collateral pursuant to the Collateral Documents other than the Litigation Collateral Documents.
The minimum threshold for payout is reached at [***] and the maximum payout is achieved at [***].
Notwithstanding anything set forth in this Agreement to the contrary, Stockholder’s obligation to pay any and all Pending Litigation Obligations shall survive the Closing for an indefinite period.
The Credit Parties, Agent and Term Lenders hereby agree that, notwithstanding anything in any of the Loan Documents to the contrary, all Liens of Agent and Term Lenders now or hereafter securing the Litigation Obligations or any portion thereof shall be subordinate in priority to all Liens of Agent and Lenders now or hereafter securing the Obligations which do not constitute Litigation Obligations.
Borrower may voluntarily prepay, and shall mandatorily prepay and provide cash collateral for, the Litigation Obligations in accordance with the terms and conditions of the Credit Agreement.
Guarantor hereby unconditionally guarantees to Agent and Lenders, and their respective successors, endorsees, transferees and assigns, the prompt payment (whether at stated maturity, by acceleration or otherwise) and performance of the Obligations of Borrower other than Litigation Obligations (hereinafter the "Guaranteed Obligations").
Notwithstanding anything contained herein to the contrary, in the event that any payment, or any part thereof, is rescinded, avoided, reduced, restored or returned, the Litigation Obligations shall be reinstated and deemed reduced only by such amount paid and not so rescinded, avoided, reduced, restored or returned.
Upon the occurrence and during the continuation of any Event of Default or Default, Agent and Term Lenders shall have, with respect to this Agreement, the Litigation Obligations and the Collateral securing the Litigation Obligations, all of the rights and remedies as are provided in the Credit Agreement and the Litigation Collateral Documents following such occurrences.