Case Proceeds definition

Case Proceeds shall equal the amount, if any, of cash received by WMI or its subsidiaries (including the Keystone Entities after the Effective Time) on or before the Escrow Expiration Date in respect of (1) any judgment, fees, costs and expenses, interest and other amounts that have been awarded to the plaintiffs (including any successors thereto) in the Case, or (2) any final settlement of the Case; provided, however, that any judgment referred to in (1) above constitutes a final, nonappealable judgment in the Case. In the case of any Installment, the Case Proceeds with respect to such Installment shall be determined in accordance with the preceding sentence.
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Case Proceeds means, with respect to any Eligible Case or Eligible Collateral Case, all funds and other property or value received directly or indirectly by or on behalf of the Borrower or an Affiliate (and not the client's share) on account of (i) any and all gross, pre-tax monetary awards, damages, recoveries, judgments or other property or value awarded to or recovered by or on behalf of (or reduced to a debt owed to) the client on account or as a result or by virtue (directly or indirectly) of an Eligible Case or Eligible Collateral Case, whether by negotiation, arbitration, mediation, diplomatic efforts, lawsuit, settlement or otherwise, and includes all of the Borrower's legal and/or equitable rights, title and interest in and/or to any of the foregoing, whether in the nature of ownership, lien, security interest or otherwise; (ii) any consequential, recessionary, punitive, exemplary or treble damages, pre-judgment interest (including damages comparable to pre-judgment interest), post-judgment interest, penalties, and attorneys ' fees (including, without limitation, common benefit fees) and other fees and costs awarded or recovered on account thereof; (iii) any expense reimbursement; and (iv) any recoveries against attorneys, accountants, experts, directors, officers or other related parties in connection with any of the foregoing or the pursuit of the Eligible Case or Eligible Collateral Case and amounts received on account of fees and expenses in connection with any of the forgoing. "Case Proceeds" includes (without limitation) any and all of the foregoing in the form of cash, real estate, negotiable instruments, intellectual or intangible property, choses in action, contract rights, membership rights, subrogation rights, annuities, claims, refunds and any other rights to payment of cash and/or transfer(s) of things of value or
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Case Proceeds means any monetary relief sought or granted in respect of any litigation, arbitration, dispute resolution or similar proceedings comprising the Portfolio of Cases.
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Examples of Case Proceeds in a sentence

  • WMI, KH Partners and the FDIC acknowledge that any such taxes paid by WMI shall be deemed an "amount" paid to the Escrow Agent pursuant to clause (4) of the first sentence in the definition of Net Case Proceeds herein and in Section 1 of the Merger Agreement.

  • In the event that (i) any obligor fails to pay such obligor's Note in full within ten (10) days of the date of such notice; (ii) the Escrow Expiration Date has occurred; and (iii) no Case Proceeds have been received by WMI or its subsidiaries (including the Keystone Entities) or such Case Proceeds were insufficient to pay off the Note, then the Note shall be in default and the Escrow Agent shall deliver the Note to WMI and assign all of its right, title and interest in the Note to WMI, without recourse.

  • No Credit Party shall, nor shall it permit any of the Borrower’s Subsidiaries to, settle or compromise any HC Claim or litigation or apply the HC Case Proceeds without the prior written consent of the Operating Committee and, in connection with any such settlement, the Credit Parties shall notify the relevant Payor that all proceeds of such settlement shall be paid to the Borrower Lockbox Account.

  • In the event any HC Case Proceeds become payable by a new Payor during the term hereof, the Borrower shall promptly (and in any event, within five (5) Business Days) notify the Administrative Agent in writing of such new Payor, which notice shall include the name, address and other contact information of such Payor and a schedule of HC Claims subject to such new Payor.

  • The Borrower agrees to keep the Administrative Agent and the Servicer fully informed about the progress of the cases in which HC Claims are being pursued and the collection of HC Case Proceeds, as hereinafter provided, unless such information has been provided to the Operating Committee.

  • Subject to the consummation of the Closing, effective from the Closing Date, each Superior Party agrees to pay to the Receiver an amount equal to ninety percent (90%) of any and all Case Proceeds (as defined in the Glossary) recovered by such Superior Party in respect of Coast-to-Coast Financial Corporation, Coast Partners and UBH, Inc.

  • As compensation, each Litigation Trustee will be entitled, so long as such Litigation Trustee remains as a Litigation Trustee, to fees payable by the CPR Trust of $400,000 per year for five years (with the remainder of such fees (but in no event with respect to a period longer than the remainder of such year plus two additional years) accelerated upon final resolution of the Litigation and receipt by Coast Federal of the Case Proceeds), plus reimbursement of all reasonable out-of pocket expenses.

  • As used herein, the Commitment Amount means the Case Proceeds minus the Reimbursements plus the income tax benefit to the Ahmanson Group, computed based on the Tax Assumptions, from payments on CPR Certificates.

  • If so instructed, Ahmanson will then liquidate the Non-Cash Case Proceeds in accordance with the instructions.

  • Litigation Trustees may hold no other full-time employment during the term of their tenure as Litigation Trustees prior to the receipt of the Case Proceeds by Coast Federal.


More Definitions of Case Proceeds

Case Proceeds means the amount, if any, of cash proceeds received in respect of a Claim (other than any civil money penalties recovered in respect of the E&Y Claims through an action by the OTS) from any final, nonappealable judgment or final settlement, minus all related Claims Expenses.
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Related to Case Proceeds

  • Purchase Proceeds means any cash amounts received by the Master Servicer in connection with: (i) the repurchase of a Mortgage Loan or an REO Mortgage Loan by a Seller pursuant to Section 2.3 or (ii) the purchase of the Mortgage Loans and REO Properties by the Depositor, the Master Servicer, the Special Servicer or the holders of the Class R-I Certificates pursuant to Section 10.1(b).

  • Repurchase Proceeds the Repurchase Price in connection with any repurchase of a Mortgage Loan by the Seller and any cash deposit in connection with the substitution of a Mortgage Loan.

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Sale Proceeds All proceeds (excluding accrued interest, if any) received with respect to Assets as a result of sales of such Assets in accordance with the restrictions described in Article XII less any reasonable expenses incurred by the Collateral Manager, the Collateral Administrator or the Trustee (other than amounts payable as Administrative Expenses) in connection with such sales. Sale Proceeds will include Principal Financed Accrued Interest received in respect of such sale.

  • Subject Proceeds has the meaning assigned to such term in Section 2.11(b)(ii).