Scheduled Litigation definition
Examples of Scheduled Litigation in a sentence
Seller has delivered to Buyer copies of all pleadings, correspondence and other documents relating to the Scheduled Litigation.
The Scheduled Litigation is not reasonably expected by the Borrower to have a material adverse effect on the business, financial condition, results of operations or prospects of the Borrower and its Consolidated Subsidiaries, considered as a whole.
Such counsel will be instructed to notify Parent and the Indemnification Representatives in writing of any material developments in such litigation and all major decisions associated with the handling of the Scheduled Litigation, including but not limited to settlement negotiations and the terms of any binding settlement thereof, shall require the prior approval of Parent and the Indemnification Representatives.
The Administrative Agent and the Lenders hereby waive any breach by the Borrower of any representation or warranty made or deemed to be made by it pursuant to subsection 5.2 of the Credit Agreement, solely insofar as such breach arises out of the matters described in clauses (i) and (ii) of Section 3(a) of this Amendment or the New Scheduled Litigation.
Notwithstanding any contrary provisions in the provisions of the Indemnification and Insurance Matters Agreement, on the Separation Date, the responsibilities for management of the litigation identified in Schedule 3.6 of the Separation Agreement (the "Scheduled Litigation"), shall be transferred in their entirety from Seller to Buyer.
Seller must first obtain the prior consent of Buyer for any action taken subsequent to the Separation Date in connection with the Scheduled Litigation, which consent cannot be unreasonably withheld, delayed or conditioned.
To the Seller's knowledge, the litigation and any claim relating thereto referred to in Schedule 4.05 has not had and will not have any adverse effect on the Business (the "Scheduled Litigation").
The Company has paid prior to Closing any and all deductible payments required theretofore under each such policy of insurance in respect of each Scheduled Litigation Matter.
Counsel currently appointed by Sellers or Group Companies for existing Scheduled Litigation shall be acceptable to continue the existing representations and to assume the representation of Scheduled Litigation that is similar to the existing litigation.
The Company shall provide Parent prompt notice of any material developments in the Scheduled Litigation.