Examples of Third Party Proceedings in a sentence
Where two or more Scheme Creditors jointly commence or continue Third Party Proceedings, they may appoint a firm of solicitors or other legal representative (a " Legal Adviser") to send and receive notices in connection with Third Party Proceedings on behalf of all such Scheme Creditors.
Hence, the learned Magistrate held that based on Macvilla’s Letter, the Third Party Proceedings was allowed and Macvilla was ordered to indemnify Bumimetro in respect of Bumimetro’s Liability (Original Action).
All costs associated with commencement or continuation of Proceedings in respect of the Third Party Proceedings shall be for the account of the Scheme Creditor only (including, for the avoidance of doubt, in respect of any amount paid to LFSL in accordance with Clause 7.5 below), and shall not be for the account of LFSL.
For the purpose of giving effect to Clause5.1 above each Scheme Creditor shall execute a Deed of Trust in relation to any Relevant Proceedings promptly (and in any case within 5 Business Days) upon being notified that any Third Party Proceedings are Relevant Proceedings.
The Scheme Creditors shall remain entitled to commence or continue Third Party Proceedings with a view to recovering damages or other compensation or contributions from Third Parties (but not, for the avoidance of doubt, from LFSL or any other Released Party).