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 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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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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Examples of Litigation Option in a sentence

  • Litigation Option Claims, if Allowed, shall be paid in full, in Cash, and if Disallowed, shall receive no distribution.

  • The Settlement Facility will pay any Litigation Option Expenditures up to the CRP Value, and Reorganized Garrison will pay from the Litigation Fund any Litigation Option Expenditures in excess of the CRP Value.

  • 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 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 before judgment, the Settlement Facility will pay the settlement to the Claimant after paying Litigation Expenses incurred before the date of settlement, with the Settlement Facility’s aggregate responsibility not to exceed the CRP Value.

  • All Current GST Asbestos Claimants shall have the option to elect the Settlement Option or the Litigation Option.

  • All Future GST Asbestos Claimants shall have the option to elect the Settlement Option or the Litigation Option.

  • If Reorganized Garrison makes a settlement offer and the Litigation Option Claimant accepts, the Settlement Facility will pay the settlement to the Claimant as well as any Litigation Expenses incurred before the date of the settlement.

  • If Reorganized Garrison makes, and the Litigation Option Claimant accepts, any settlement, the Settlement Facility will pay the settlement to the Claimant after paying Litigation Expenses incurred before the date of settlement, with the Settlement Facility’s aggregate responsibility not to exceed the CRP Value.


More Definitions of Litigation Option

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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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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Related to Litigation Option

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

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

  • 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.

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

  • 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.

  • Call Option Period has the meaning given to it in Condition 6.04 (Call Option);