NET LITIGATION RECOVERY Sample Clauses

NET LITIGATION RECOVERY. All recoveries on account of Litigation Claims, minus all Professional Fees and other expenses accrued and paid in conjunction with the prosecution of such Litigation Claims.
Sample 1
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NET LITIGATION RECOVERY. Each Warrantholder of record on the relevant record date shall be entitled to receive a portion of the Aggregate Available Distribution, determined in the manner set forth in the Warrant Certificate, which shall be determined in the following manner. The Company shall notify the Warrant Agent in writing of the amount to be paid on each Warrant and the date of the proposed payment, and at the same time, the Company shall deposit with the Warrant Agent an amount of cash equal to the aggregate amount to be paid in respect of the Aggregate Available Distribution or shall make arrangements satisfactory for the Warrant Agent for such deposit prior to the date of the proposed payment. Such money when received in the form of fully cleared immediately available funds shall be held in trust for the benefit of the Warrantholders entitled to such distribution. The Company, in consultation with the Warrant Agent, shall fix a record date for the payment of the Aggregate Available Distribution which shall be no more than 20 days after the receipt by the Warrant Agent of the proposed payment in the form of fully cleared immediately available funds; provided that, if the record date in respect of the distribution of the portion of the Aggregate Available Distribution to the shares of Class B Common Stock shall be set in a different manner or at a different time, the provisions hereof in respect of the timing or manner or distribution shall be modified to reflect, as closely as commercially reasonably possible, the provisions of such distribution. The Company shall publicly announce the relevant record date at least 10 days in advance of such record date by issuing a press release for publication on a newswire service and publishing such press release on the website of the Company. Such distribution shall be paid by the Warrant Agent to the Warrantholders in whose names the Warrants are registered on the close of business on the record date in accordance with written instructions received from the Company. Notwithstanding anything to the contrary in the preceding paragraph, all distributions of any portion of the Aggregate Available Distribution to any Warrantholder that holds its beneficial interest in such Warrant through the Depositary shall be made in compliance with the provisions of the Depositary in all respects; provided that the Company and the Warrant Agent shall agree on such modifications as appropriate to fulfill the intent of the provisions hereof in respect o...
Sample 1
NET LITIGATION RECOVERY. Warrantholders shall participate in the distribution of the Aggregate Available Distribution, which shall be distributed to the Warrantholders pursuant to the terms of the Warrant Agreement. The holder of record of each Class B Warrant on the relevant record date (the “Distribution Record Date”), as determined in good faith by the Company pursuant to the terms of the Warrant Agreement, shall be entitled to receive a pro rata portion of the Aggregate Available Distribution calculated as a fraction thereof, the numerator of which shall be one (1) and the denominator of which shall be the total number of Class B Securities issued upon the Effective Date; provided that, for the avoidance of doubt, to the extent that after the Effective Date and before such Distribution Record Date any Class B Securities that have been converted in accordance with their terms into Class A Common Stock or Class A Warrants, as the case may be, then no distribution shall be made in respect of the Class A Common Stock or Class A Warrants issued upon such conversion.
Sample 1

Related to NET LITIGATION RECOVERY

  • Litigation; Regulatory Action (a) Except as set forth on Schedule 3.10 of the Company Disclosure Schedule, no litigation, claim, suit, investigation or other proceeding before any court, governmental agency or arbitrator is pending against the Company or any of its Subsidiaries, and, to the Knowledge of the Company, (i) no such litigation, claim, suit, investigation or other proceeding has been threatened and (ii) there are no facts which would reasonably be expected to give rise to such litigation, claim, suit, investigation or other proceeding.

  • Compensation Recovery This Award shall be subject to any compensation recovery policy adopted by the Company, including any policy required to comply with applicable law or listing standards, as such policy may be amended from time to time in the sole discretion of the Company. As consideration for and by accepting the Award, the Recipient agrees that all prior equity awards made by the Company to the Recipient shall become subject to the terms and conditions of the provisions of this Section 22.

  • Settlement of Litigation Hanover shall not, nor shall it permit any of its Subsidiaries to, settle any litigation, investigation, arbitration, proceeding or other claim if Hanover or any of its subsidiaries would be required to pay in excess of $10,000 individually or in the aggregate or if such settlement would obligate Hanover to take any material action or restrict Hanover in any material respect from taking any action at or after the Effective Time.

  • Cooperation with Litigation During and following the termination of Executive’s employment with the Company (regardless of the reason for Executive’s termination of employment with the Company and which party initiates the termination of employment with the Company), except as required by law, Executive agrees to cooperate with and make himself readily available to the Company, the Company’s General Counsel (or equivalent position within the Company) and / or its advisers, as the Company may reasonably request, to assist it in any matter regarding Company and its subsidiaries and parent companies, including giving truthful testimony in any litigation, potential litigation or any internal investigation or administrative, regulatory, judicial or quasi-judicial proceedings involving the Company over which Executive has knowledge, experience or information. Executive acknowledges that this could involve, but is not limited to, responding to or defending any regulatory or legal process, providing information in relation to any such process, preparing witness statements and giving evidence in person on behalf of the Company. The Company shall reimburse any reasonable expenses incurred by Executive as a consequence of complying with his obligations under this clause, provided that such expenses are approved in advance by the Company.

  • Limit on Recovery Notwithstanding any other provision hereof, the right of recovery against each Guarantor under this Section 12 shall not exceed $1.00 less than the lowest amount which would render such Guarantor’s obligations under this Section 12 void or voidable under applicable law, including, without limitation, fraudulent conveyance law.

  • Costs of Litigation In the event litigation is commenced to enforce any of the provisions hereof, or to obtain declaratory relief in connection with any of the provisions hereof, the prevailing party shall be entitled to recover reasonable attorney's fees. In the event this Agreement is asserted in any litigation as a defense to any liability, claim, demand, action, cause of action, or right asserted in such litigation, the party prevailing on the issue of that defense shall be entitled to recovery of reasonable attorney's fees.

  • Recovery of Litigation Costs If any legal action or other proceeding is brought for the enforcement of this Warrant, or because of an alleged dispute, breach, default, or misrepresentation in connection with any of the provisions of this Warrant, the successful or prevailing party or parties shall be entitled to recover reasonable attorneys’ fees and other costs incurred in that action or proceeding, in addition to any other relief to which it or they may be entitled.

  • Cost of Litigation In any action at law or in equity or any arbitration to enforce any of the provisions or rights under this Agreement, the unsuccessful party to such litigation, as determined by the court or arbitrator in a final judgment or decree, shall pay the successful party or parties all costs, expenses and reasonable attorneys' fees incurred by the successful party or parties (including without limitation costs, expenses and fees on any appeals), and if the successful party recovers judgment in any such action or proceeding, such costs, expenses and attorneys' fees shall be included as part of the judgment.

  • Third Party Litigation The undersigned agrees to be available to the Company and its affiliates on a reasonable basis in connection with any pending or threatened claims, charges or litigation in which the Company or any of its affiliates is now or may become involved, or any other claims or demands made against or upon the Company or any of its affiliates, regardless of whether or not the undersigned is a named defendant in any particular case.

  • Assistance in Litigation Employee shall upon reasonable notice, furnish such information and proper assistance to the Company as it may reasonably require in connection with any litigation in which it is, or may become, a party either during or after employment.

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