Litigation Representative definition
Examples of Litigation Representative in a sentence
In the event that neither the Representative Fund nor the Litigation Escrow Fund are available to reimburse the Representative for Litigation Representative Expenses, the Indemnifying Founders shall indemnify the Representative according to their Aggregate Litigation Funding Percentage for such expenses.
Purchaser shall have the right in its sole discretion to determine and conduct the defense of, and to settle or resolve, any Third-Party Claim; provided that each Seller’s Litigation Representative shall be permitted to consult (in a non-binding fashion) with Purchaser on any dispositive motions related to such defense or any such settlement.
With respect to Third Party Claims with respect to which the parties shall jointly control the defense, the Sellers' Litigation Representative is hereby appointed the sole and exclusive representative in connection with the defense of such Third Party Claim and any indemnification obligations of the Sellers with respect thereto.
Without limitation of the generality of the foregoing, the Liquidation Trustee may, in its discretion, enter into a transition services agreement or similar agreement or arrangement with the Reorganized Debtors in connection with the fulfillment of the Liquidation Trustee’s duties (including without limitation his duties as Litigation Representative).
Nothing in this Agreement shall be deemed to prevent the Liquidation Trustee from taking, or failing to take, any action that it is obligated to take (or not to take) in the performance of any fiduciary or similar duty that the Liquidation Trustee owes to the LT Holders or the Beneficial Holders hereunder or to the Reorganized Debtors (or the Reorganized Parent Debtor’s shareholders) as Litigation Representative or otherwise to any other Person.
To that end, the Liquidation Trustee, in its capacity as such and as Litigation Representative, shall have full power and authority to take any action consistent with the purpose and provisions of the Plan, to seek any orders from the Bankruptcy Court and/or the Canadian Court in furtherance of implementation of the Plan that directly affects the interest of the Liquidation Trust, and to seek any orders from the Bankruptcy Court and/or the Canadian Court solely in furtherance of this Agreement.
Notwithstanding the foregoing or anything else contained herein to the contrary, the Liquidation Trustee, in its capacity as Litigation Representative shall be responsible for causing the Liquidation Trust and the Reorganized Debtors to respond to the One-Time Discovery Demand which the Lead Plaintiff may make pursuant to Section (v)(E)(1) of the Plan.
Any costs and expenses of a Seller’s Litigation Representative shall be borne by such Seller.