Common Contracts
1 similar Litigation Cost Advance Agreement contracts
AGREEMENTLitigation Cost Advance Agreement • September 27th, 2016 • New York
The signatory parties hereto agree as follows with respect to a proposed advance of fifteen million dollars ($15,000,000.00) (the “Litigation Cost Advance”) to be provided by the Motors Liquidation Company (“MLC”) debtor-in-possession lenders (the “DIP Lenders”) to the MLC Avoidance Action Trust (the “Trust”) on conditions described herein. This agreement (this “Agreement”) arises in connection with, and is conditioned upon approval by the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) of, the settlement of litigation between the DIP Lenders, on the one hand, and the MLC Official Committee of Unsecured Creditors (the “Committee”), on the other hand. Finalization and Bankruptcy Court approval of that settlement is a condition precedent to the DIP Lenders’ obligation to provide the contemplated Litigation Cost Advance, which is a contemplated term of that settlement. Capitalized terms used but not defined herein shall have the meanings ascri
