Cayman Court definition
Examples of Cayman Court in a sentence
No indemnification for Expenses shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that any court in which the Proceeding was brought or the Cayman Court shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification.
If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or the Cayman Court has determined that such objection is without merit.
On the same date, the Parent Guarantor issued an ex parte summons with the Cayman Court seeking the appointment of the Joint Provisional Liquidators as the joint provisional liquidators of the Parent Guarantor on the grounds of insolvency and that the Parent Guarantor intended to present a compromise or arrangement to its creditors.
On or after the Petition Date, any legal action or legal proceeding relating to this Agreement and or to interpret or enforce any provision thereof shall only be brought or commenced in the Bankruptcy Court and/or the Cayman Court.
Each party hereby further irrevocably waives any claim that any Chosen Court lacks jurisdiction over such party, and agrees not to plead or claim, in any legal action or proceeding (i) with respect to this Agreement or the transactions contemplated hereby brought in the Delaware Courts or (ii) with respect to any claim of breach by any director of the Company of any fiduciary duty brought in the Cayman Court, that any such court lacks jurisdiction over such party.