Litigation Reserve definition

Litigation Reserve. As defined in Section 4.17.

Litigation Reserve shall have the meaning set forth in Section 5.9(a) of this Agreement.

Litigation Reserve shall have the meaning set forth in Section 3.4 of this Agreement.

Examples of Litigation Reserve in a sentence

• No funds from any other source (other than interest or earnings on the funds held in the Litigation Reserve Account) shall be commingled in the Litigation Reserve Account.

• The Servicer shall be authorized and directed to withdraw funds from the Litigation Reserve Account only to make disbursements in accordance with this Agreement and not for any other purpose.

• Amounts on deposit in the Litigation Reserve Account (including interest and earnings thereon) shall be used and may be withdrawn and disbursed only in accordance with the provisions of this paragraph.

• If the Servicer elects to establish a Litigation Reserve it shall establish a Litigation Reserve Account at a Qualified Depository.

• The Servicer may transfer the Custodial Account, the Escrow Account, any Liquidity Reserve Account or any Litigation Reserve Account to a different Qualified Depository from time to time.

More Definitions of Litigation Reserve

Litigation Reserve means $250,000;

Litigation Reserve has the meaning given in Section 4.03(b). “LLC Interest” has the meaning given in the recitals.

Litigation Reserve shall have the meaning given in Section 4.03(b).

Litigation Reserve means the interest-bearing account that may be established by the Liquidating Trustee by depositing funds sufficient to satisfy all anticipated expenses that will be incurred in order to liquidate and pursue collection on the Litigation Claims.

Litigation Reserve means a reserve equal to the portion of the amount payable in respect of that litigation described in Item 2 of Schedule 4.6(b) that is not fully covered (other than to the extent of customary deductibles) by insurance pursuant to which the insurer has not denied coverage.

Litigation Reserve means Cash in an amount to be initially determined by the Liquidating Agent and approved by the Court, after notice and a hearing, which shall be funded to the Liquidating Agent as soon thereafter as reasonably practicable, and used exclusively to pay Post-Confirmation Administrative Claims, including fees and costs of the Liquidating Agent, his staff and Professionals incurred in connection with the prosecution of (i) Litigation Claims, (ii) objections to Claims, and (iii) other asserted claims against the Debtor's Estate, including indemnity Claims. The Liquidating Agent shall File a motion with the Court within twenty (20) days after the Effective Date for a determination of the appropriate amount of the Litigation Reserve, which shall be determined by Final Order of the Court.

Litigation Reserve the allowance or reserve, as of a certain date and/or as set forth on a designated balance sheet, for settlement or discharge of any pending or Threatened claim, demand, cause of action, litigation, complaint or other dispute or any other Proceeding, involving the business of Realty One, of a nature for which Realty One has historically maintained such a reserve.