Common use of Litigation Projections Clause in Contracts

Litigation Projections. In conjunction with the Independent Assessor, the Finance Committee shall, at the request of the Manager or the District Court, and in any event no less than quarterly, commencing the first quarter after conclusion of the opt-out process, prepare projections of the likely amount of funds required in order to pay all Claims and expenses subject to the Litigation Fund. Such projections shall be based upon and take into account all data regarding (i) Claims paid from the Litigation Fund, (ii) expenses incurred, (iii) pending Claims, (iv) projected number of Claims certified or likely to be certified for trial, (v) past and projected costs of litigating claims certified for trial and (vi) past and projected future resolution costs of Claims in pre-trial settlements. On the basis of such projections, the Finance Committee shall state the funds projected to be available for the payment of unpaid Claims subject to the Litigation Fund (“Available Litigation Funds”) taking into account any projected need to access the Litigation Fund for purposes of payment of First Priority Payments pursuant to Section 7.03(b). The projection shall also state the estimated time period for the resolution of such Claims.