Legal Proceeding definition
Examples of Legal Proceeding in a sentence
Each Party shall reasonably promptly advise the other Parties of any Legal Proceeding commenced after the date hereof against such Party and/or any of its directors (in their capacity as such) by any stockholders of such entity (on their own behalf or on behalf of such entity) relating to this Agreement or the Transactions, and shall keep the other Parties reasonably informed regarding any such Legal Proceeding.
There is no Legal Proceeding or governmental or administrative investigation, audit, inquiry or action pending or, to the Knowledge of the Company, threatened against the Company or its Subsidiary that, individually or in the aggregate, would reasonably be expected to have a Company Material Adverse Effect.
In addition to the rights of the Rights Agent set forth herein, the Acting Holders will have the sole right (other than the rights of the Rights Agent as set forth herein), on behalf of all Holders, by virtue of or under any provision of this Agreement, to institute any Legal Proceeding with respect to this Agreement, and no individual Holder or other group of Holders will be entitled to exercise such rights.
The Acting Holders shall have the right to direct the time, method and place of conducting any Legal Proceeding for any remedy available to the Rights Agent, or exercising any power conferred on the Rights Agent by this Agreement.
The Company may enter into any settlement agreement in respect of such Legal Proceeding against the Company and/or its directors or officers relating to this Agreement or any of the Transactions with (and only with) Parent’s prior written consent, which consent will not be unreasonably withheld or delayed, subject to the terms of this Agreement.