Common use of Segregated Defense Fund Clause in Contracts

Segregated Defense Fund. Subject to the Plan Support Public Entities affirmatively voting to accept the Debtors’ Plan, the Debtors’ Plan shall further provide for the creation of a single segregated fund for the benefit of the Plan Support Public Entities in the amount of $10 million to be funded promptly, but no less than 30 days after the Effective Date, and the Debtors shall be obligated to use such fund to reimburse the Plan Support Public Entities for any and all legal fees and costs associated with the defense or resolution of any Third Party Claims against the Supporting Public Entity. Such fund shall be maintained by the Debtors until the later of (a) the expiration of the applicable limitations period for any and all such Third-Party Claims and (b) the conclusion of all litigation involving Third Party Claims, including appeals.

Segregated Defense Fund. Subject to the Plan Support Public Entities affirmatively voting to accept the Debtors’ Plan, the Debtors’ Plan shall further provide for the creation of a single segregated fund for the benefit of the Plan Support Public Entities in the amount of $$ 10 million to be funded promptly, but no less than 30 days after the Effective Date, and the Debtors shall be obligated to use such fund to reimburse the Plan Support Public Entities for any and all legal fees and costs associated with the defense or resolution of any Third Party Claims against the Supporting Public EntityEntities. Such fund shall be maintained by the Debtors until the later of (a) the expiration of the applicable limitations period for any and all such Third-Party Claims and (b) the conclusion of all litigation involving Third Party Claims, including appeals.