Private Litigation definition

Private Litigation. Any action, suit or proceeding initiated by or on behalf of a borrower in any federal or state court of competent jurisdiction alleging commission of a Mortgage Loan Servicing Error by SPS prior to the Option Closing Date; provided, however, that (i) solely for purposes of the definition of Designated Litigation Expenses other than clause (iii) of the proviso contained therein, Private Litigation may include the alleged commission of a Mortgage Loan Servicing Error by SPS that occurred both prior and subsequent to the Option Closing Date; and (ii) Private Litigation shall exclude any Regulatory Action.
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Private Litigation shall have the meaning ascribed to such term in the Contingent Payment Agreement.
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Private Litigation. Any absence whether voluntary or by legal order to appear or testify in private litigation, not in the status of an employee but as a plaintiff or defendant, shall not qualify for leave under this article and shall be charged against accumulated leave or be without pay. In no event shall an employee be granted a leave of absence with pay to appear or testify in any court proceedings or proceedings conducted by any administrative agency when the employee is a plaintiff, complainant or witness on behalf of a plaintiff or complainant in a proceeding against the Board of Education. Sick Leave
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Examples of Private Litigation in a sentence

  • If, after the Closing, Buyer requires the cooperation of Seller, its officers, directors, shareholders or employees to aid in the assertion, defense or settlement of any Private Litigation or Government Proceeding, and if no conflict of interest exists between Buyer and Seller or such persons, then the Seller will use best efforts to make such persons available to Buyer to participate in such proceeding; provided that Buyer will pay all out-of-pocket expenses that are incurred and preapproved by Buyer.

  • This announcement may contain forward-looking statements as defined in the Private Litigation Reform Act of 1995.

  • As of the Closing Date, there is no pending Government Proceeding or Private Litigation that, if adversely determined, would impair the right or ability of Buyer to carry on and conduct Seller's Aluminum Businesses, after the Closing, in the manner previously conducted, or that would materially adversely affect the use by Buyer of the Purchased Assets.


More Definitions of Private Litigation

Private Litigation means any lawsuit, arbitration, mediation, or other adversary proceeding that does not constitute a Government Proceeding.
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