Examples of Litigation Option in a sentence
Individuals who elect not to pursue workers’ compensation must follow the Back End Litigation Option (“BELO”) process set forth in the Settlement Agreement to recover from BP.
Pending determination by the Settlement Facility of the CRP Value and its obligation for Litigation Option Expenditures, Reorganized Garrison may make interim payments for Litigation Expenses using the Litigation Fund, to be reimbursed by the Settlement Facility up to the amount of the CRP Value.
Reorganized Garrison’s authority to settle any Litigation Option Claim before judgment shall be limited to the CRP Value less Litigation Expenses prior to the date of any settlement, and its authority to settle after judgment shall be limited to the amount of the judgment, including any interest and costs awarded.
Reorganized Garrison shall not be obligated to offer the Litigation Option Claimant any settlement.
If Reorganized Garrison makes, and the Litigation Option Claimant accepts, any settlement after judgment, the Settlement Facility will pay the settlement amount and Litigation Expenses up to the CRP Value, and Reorganized Garrison will pay any additional amounts from the Litigation Fund.
If Reorganized Garrison makes, and the Litigation Option Claimant accepts, any settlement, the Settlement Facility will pay the settlement to the Claimant after paying any Litigation Expenses incurred before the date of settlement, with the Settlement Facility’s aggregate responsibility not to exceed the CRP Value.
The Settlement Facility also shall assume financial responsibility for Litigation Option Expenditures up to the amount of the CRP Value for such Claims.
Payments by the Settlement Facility and Reorganized Garrison to Settlement Option Claimants and Litigation Option Claimants shall be made in accordance with this Plan, the Settlement Facility Agreement, the CRP, and the CMO, as applicable.
Upon the conversion of an interest in Global Securities, the Trustee (or other Conversion Agent appointed by the Company) shall make a notation on such Global Securities as to the reduction in the principal amount represented thereby.
Payments to Settlement Option Claimants and Litigation Option Claimants shall be made by the Settlement Facility or Reorganized Garrison (from the Litigation Fund) in accordance with the Plan, Settlement Facility Agreement, CRP, and CMO, as applicable.