Litigation Losses definition

Litigation Losses means any monetary settlement or final, non-appealable monetary judgment rendered against CGA, CGAIM or the Company as the result of any lawsuit, action or proceeding other than a lawsuit, action or proceeding relating to any claim or loss under a Reinsured Contract in excess of the amount covered by applicable insurance and, in the case of the Xxxxx Litigation, in excess of an amount equal to (i) the reserve amount set forth on Schedule 3 hereto less (ii) Litigation Defense Expenses applicable to the Xxxxx Litigation.
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Litigation Losses mean any and all damages, losses, claims, liabilities, Taxes, demands, charges, suits, penalties, costs and expenses (including court costs and reasonable attorneys’ fees and expenses incurred in investigating and preparing for any litigation or proceeding) that any of the Buyer Indemnified Parties incurs and that arise out of any of the Scheduled Litigations; provided, however, that the calculation of any such Litigation Losses in respect of any Scheduled Litigation shall be reduced (A) to the extent of the specific litigation liability reserves of the Company or its Subsidiaries in respect of such Scheduled Litigation in existence as of August 31, 2003 (which reserves were, as of August 31, 2003, in the amounts set forth on Schedule IV), (B) to the extent of any insurance proceeds actually received by the Surviving Corporation or its Subsidiaries in respect of such Scheduled Litigation, and (C) with respect solely to Litigation Losses consisting of court costs and attorney’s fees and expenses, by that portion of such court costs and attorney’s fees and expenses attributable to the period prior to Closing.
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Litigation Losses means the pre-tax amount of any Losses incurred by the Company and its Affiliates arising from or as a result of the Covered Litigation, taking fully into account the effect of the creation or increase in any reserve, any write down or write off of all or any portion of the value of any asset carried on the books of the Company and its Affiliates as of Effective Date, all determined in accordance with GAAP.
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Examples of Litigation Losses in a sentence

  • The Reinsurer also agrees to indemnify the Company for such Litigation Losses as the Reinsurer, in its sole discretion, elects to fund.

  • To the extent any Action involves both (1) Post-Closing Litigation Losses and (2) Pending Litigation Losses, Legacy Arbitration Losses or Legacy Proceedings Losses, that portion of the Losses which relates to Post-Closing Litigation Losses shall be indemnified under Section 10.4(a)(ii) and the balance shall be indemnified under Section 10.4(a)(iii).

  • Notwithstanding anything else herein, any Litigation Losses which are indemnifiable pursuant to Section 8.1(b) will not also be indemnifiable Damages pursuant to Section 8.1(a).

  • All indemnification obligations of EXCO with respect to Other Losses under clauses (ii), (iv) (but only with respect to North Coast Royalty Owner Litigation Losses and Anadarko Mid-Con Royalty Litigation Losses), (v) and (vi) shall survive without limitation.

  • Given the nature of these lawsuits, the Committee for Assessing the Risk of Litigation Losses stated that the Bank’s performance in all the above mentioned disputes is estimated at over 50 %.

  • Without limiting Durect’s liability for any breach of Durect’s representations and warranties hereunder, Durect’s sole liability and Alpharma’s exclusive remedy against Durect for any Patent Litigation Losses shall be Alpharma’s right of offset in accordance with Section 9.6(c).

  • Notwithstanding anything in the Agreement (including provisions of Article X of the Agreement), Seller shall indemnify Purchaser for any Identified Litigation Losses (the “Litigation Reimbursement”).

  • Only in the event that (i) the amount in the Escrow Fund is insufficient to satisfy claims for Losses or Indemnified Litigation Losses or (ii) the Escrow Fund has been terminated as provided in the Escrow Agreement, shall the Buyer be entitled to proceed against the Seller or Thorn with respect to any claims for Indemnified Litigation Losses or Losses hereunder in accordance with Section 6.17 or this Article 8, respectively.

  • Of this amount, $5,000,000 together with the earnings thereon (the "Ramco Sub-Account"), shall be available solely to pay Ramco Clean-Up Costs; $750,000 together with the earnings thereon (the "Xxxxxxxx Sub-Account") shall be available primarily to pay Specified Litigation Losses relating to the Xxxxxxxx Proceeding; and $250,000 -58- together with the earnings thereon (the "Sharma Sub-Account") shall be available primarily to pay Specified Litigation Losses relating to the Sharma Proceeding.

  • Given the nature of these lawsuits, at the proposal of the Committee for Assessing the Risk of Litigation Losses, on December 27, 2016 the Bank’s management decided to make provisions of BAM 2 thousand in this respect.

Related to Litigation Losses

  • distribution losses means energy losses that result from the interaction of intrinsic characteristics of the distribution network such as electrical resistance with network voltages and current flows;

  • Tax Losses has the meaning assigned to such term in Section 7.1(a).

  • Fraud Losses Realized Losses on Mortgage Loans as to which a loss is sustained by reason of a default arising from fraud, dishonesty or misrepresentation in connection with the related Mortgage Loan, including a loss by reason of the denial of coverage under any related Primary Insurance Policy because of such fraud, dishonesty or misrepresentation.

  • Indemnified Losses is defined in Section 5.03 of the Servicing Agreement.

  • Direct Losses means all damages, losses, liabilities, penalties, fines, assessments, claims, actions, costs, expenses (including the cost of legal or professional services, legal costs being on a substantial indemnity basis), proceedings, demands and charges whether arising under statute, contract or at common law, except Indirect Losses.

  • Liquidating Losses means any net loss realized in connection with the actual or hypothetical sale of all or substantially all of the assets of the Partnership (including upon the occurrence of any event of liquidation of the Partnership), including but not limited to net loss realized in connection with an adjustment to the book value of Partnership assets under Section 6.2 hereof.

  • Seller Losses has the meaning set forth in Section 10.2(a).

  • Liquidation Loss Amount With respect to any Payment Date and any Mortgage Loan that became a Liquidated Mortgage Loan during the related Collection Period, the unrecovered portion of the Principal Balance of such Mortgage Loan and any unpaid accrued interest thereon at the end of such Collection Period, after giving effect to the Net Liquidation Proceeds applied in reduction of such Principal Balance.

  • Litigation Costs means all reasonable costs, charges, expenses, including attorneys', accountants' and expert witnesses' fees, and obligations paid or incurred in connection with investigating, defending (including affirmative defenses and counterclaims), obtaining or attempting to obtain a settlement, being a witness in, or participating in or preparing to defend, be a witness in, or participate in, any Proceeding and any appeal therefrom and the cost of appeal, attachment and similar bonds.

  • Loss or Losses means all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs or expenses of whatever kind, including reasonable attorneys' fees and the costs of enforcing any right to indemnification hereunder and the cost of pursuing any insurance providers.

  • Losses incurred as used herein shall mean ceded losses and loss adjustment expense paid as of the effective date of calculation, plus the ceded reserves for losses and loss adjustment expense outstanding as of the same date, all as respects losses occurring during the contract year under consideration, plus the debit or minus the credit from the preceding contract year.

  • Purchaser Losses shall have the meaning set forth in Section 9.1(a).

  • Net Realized Losses For any Class of Certificates and any Distribution Date, the excess of (i) the amount of Realized Losses previously allocated to that Class over (ii) the amount of any increases to the Class Certificate Principal Balance of that Class pursuant to Section 5.08 due to Recoveries.

  • Buyer Losses shall have the meaning set forth in Section 11.1 hereof;

  • Loss Adjustment Expenses means all costs and expenses incurred by the Company in the investigation, adjustment and settlement of claims. Loss adjustment expenses include third-party costs as well as the Company’s internal expenses, including salaries and expenses of loss management personnel and certain administrative costs.

  • Bankruptcy Losses With respect to the Mortgage Loans in the related Mortgage Pool, losses that are incurred as a result of Deficient Valuations and any reduction, in a bankruptcy proceeding, of the amount of the Scheduled Payment on a Mortgage Loan other than as a result of a Deficient Valuation.

  • Litigation Claims means the claims, rights of action, suits or proceedings, whether in law or in equity, whether known or unknown, that any Debtor or any Estate may hold against any Person or Entity, including, without limitation, the Causes of Action of the Debtors or their Estates, in each case solely to the extent of the Debtors’ or their Estates’ interest therein. A non-exclusive list of the Litigation Claims held by the Debtors as of the Effective Date will be Filed with the Plan Supplement, which will be deemed to include any derivative actions filed against any Debtor as of the Effective Date.

  • Covered Losses has the meaning set forth in Section 9.2(b).

  • Losses shall have the meaning set forth in Section 5(a).

  • Net Termination Loss means, for any taxable year, the sum, if negative, of all items of income, gain, loss or deduction recognized by the Partnership after the Liquidation Date. The items included in the determination of Net Termination Loss shall be determined in accordance with Section 5.5(b) and shall not include any items of income, gain or loss specially allocated under Section 6.1(d).

  • Purchaser Indemnitees has the meaning set forth in Section 7.02.

  • Claim Expenses means reasonable documented attorneys’ fees and all other reasonable documented out-of-pocket costs, expenses and obligations (including experts’ fees, travel expenses, court costs, retainers, transcript fees, duplicating, printing and binding costs, as well as telecommunications, postage and courier charges) paid or incurred in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to investigate, defend, be a witness in or participate in, any Claim, including any Action relating to a claim for indemnification or advancement brought by an Indemnified Party as contemplated in Section 7.5.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Indemnifiable Losses means any and all Losses relating to, arising out of or resulting from any Indemnifiable Claim.

  • Seller Indemnitees has the meaning set forth in Section 8.03.

  • Tax-Related Losses means (i) all federal, state, local and foreign Taxes (including interest and penalties thereon) imposed (or that would be imposed) pursuant to any settlement, Final Determination, judgment or otherwise, (ii) all accounting, legal and other professional fees, and court costs incurred in connection therewith, and (iii) all costs, expenses and damages associated with stockholder litigation or controversies and any amount paid by Parent (or any Parent Affiliate) or SpinCo (or any SpinCo Affiliate) in respect of the liability of shareholders, whether paid to shareholders or to the IRS or any other Tax Authority, in the case of each of clauses (i) through (iii), resulting from the failure of the Internal Distribution, the Contribution or the Distribution to have Tax-Free Status.