Litigation Option definition

Litigation Option means the option of each Holder of a Current GST Asbestos Claim, Future GST Asbestos Claim, or Pre-Petition Judgment GST Asbestos Claim (the latter under certain circumstances described herein) to elect to have his or her Claim Allowed through litigation after the Confirmation Date pursuant to the CMO.
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Litigation Option means one of the treatment options available to be chosen by Holders of Asbestos PI Claims, as described in Section 3.2 of the Plan.
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Litigation Option means the option of each Holder of a Current GST Asbestos Claim, Future GST Asbestos Claim, or Pre-Petition Judgment GST Asbestos Claim (the latter under certain circumstances described herein) to elect to pursue allowance litigation against Reorganized Garrison pursuant to the CMO.
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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.

  • 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.

  • Reorganized Garrison shall not be obligated to offer the Litigation Option Claimant any settlement.

  • 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.

  • If the Indemnifying Party does not elect the Direct Litigation Option, then the Indemnified Party shall defend against the Third Party Claim in the manner it deems appropriate.

  • 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.

  • 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.

  • Settled GST Asbestos Claimants whose Claims are Disallowed as not settled shall nonetheless continue to hold Current GST Asbestos Claims and may elect the Settlement Option or Litigation Option.

  • The Settlement Facility also shall assume financial responsibility for Litigation Option Expenditures up to the amount of the CRP Value for such Claims.


More Definitions of Litigation Option

Litigation Option means the option of each Holder of an Unresolved Asbestos Claim or Pre-Confirmation Judgment Asbestos Claim (the latter under certain circumstances described herein) to elect to have his or her Claim Allowed through litigation against the Debtors after the Confirmation Date pursuant to the CMO.
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Litigation Option means the option of each Holder of a Current Asbestos Claim, Future As- bestos Claim, or Pre-Petition Judgment Asbestos Claim (the latter under certain circumstances de- scribed herein) to elect to have his or her Claim Al- lowed through litigation against the Reorganized Debtors after the Confirmation Date pursuant to the CMO.
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Related to Litigation Option

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.

  • Second Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Renewal Option has the meaning set forth in §12.1.

  • First Extension Option shall have the meaning set forth in Section 2.2.1(b) hereof.

  • Compensation Options has the meaning ascribed in Section 8.1.

  • Termination Right have the respective meanings given in the PRA Contractual Stay Rules.

  • Option means a stock option granted pursuant to the Plan.

  • Option to Extend has the meaning given that term in Section 2.13.

  • Conversion Option means the Company’s option to convert some or all of the Series D Preferred Stock into that number of shares of Common Stock that are issuable at the then-applicable conversion rate as described in Section 8(c) of these Articles Supplementary.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Option Period means the period during which an Option may be exercised.

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Option 1 [X] Yes, but only with respect to a Contributing Participant's Elective Deferrals.

  • Option Notice has the meaning set forth in Section 5.2(a).

  • Call Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities.

  • Put Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and tender of the specified underlying Securities, to sell such Securities to the writer thereof for the exercise price.

  • Arbitration Notice has the meaning set forth in Section 9.13.

  • Purchase Option Period As defined in Section 9.03(a) hereof.

  • Exclusive Right to Sell listing means that if you, the owner of the property, find a buyer for your house, or if another broker finds a buyer, you must pay the agreed commission to the present broker.

  • Mediation Notice is defined in Section 6.2(b).

  • Call Option Notice means a written notice from the holder of the Call Option or the Administrator, as applicable, stating its desire to exercise the Call Option on the related Reset Date, delivered to each Clearing Agency, the Indenture Trustee, the Remarketing Agents, the Rating Agencies and, if the related class of Reset Rate Notes is then listed on the Luxembourg Stock Exchange, the Administrator will forward a copy to the Luxembourg Listing Agent (the contents of which are to be published in a leading newspaper having general circulation in Luxembourg).

  • Repurchase Option has the meaning set forth in Section 1.3(a) hereto.