Examples of Litigation Trust Loan in a sentence
To the extent that the Litigation Trustee achieves a PlainsCapital Recovery, Term Loan Class 6 Creditors shall not share in any such recovery nor shall the PlainsCapital Recovery be utilized to repay the Litigation Trust Loan.
In the event that the Litigation Trustee achieves any recoveries from the Litigation Trust Causes of Action, then holders of Litigation Trust Interests that are not Term Loan Lender Class 6 Creditors shall receive the first $4,000,000 recovered by the Litigation Trust after payment of Litigation Trust expenses, including repayment of the Litigation Trust Loan.
The Litigation Trust Management may supplement the funding of the Litigation Trust Expenses provided by the Litigation Trust Loan, including, through (i) settlement payments and the collection of judgments, (ii) Additional Litigation Funding Loans, and (iii) by retaining contingent fee counsel.
The Litigation Trust shall only receive and retain Cash, including Cash from the Litigation Trust Loan and any Additional Litigation Funding Loans, not in excess of a reasonable amount to meet claims and contingent liabilities or to maintain the value of the Trust Assets and administer the Litigation Trust; provided, for the avoidance of doubt, that the Litigation Trust shall only request Term Loans to the extent necessary to pay anticipated near term Litigation Trust Expenses.
Under no circumstances shall the Debtors or the Reorganized Debtors be required to contribute any of their respective assets to the Litigation Trust other than the GUC Cash Settlement, the Litigation Trust Loan, and the Litigation Trust Causes of Action.
The failure to so record any such amount or any error in so recording any such amount shall not, however, limit or otherwise affect the Loan Obligations of Litigation Trust hereunder to repay the principal amount of the Litigation Trust Loan, including any Term Loan, hereunder.
On or after the Effective Date, Paragon International Finance Company (the “Paragon Loan Party”) shall provide an interest-free delayed draw term loan up to the Term Loan Commitment (the “Litigation Trust Loan”) to fund the Litigation Trust Expenses on the terms set forth in this Section 4.1. The Litigation Trust Loan shall not be funded by Paragon Offshore Limited or any other Paragon Entity or any other Debtor.
The Litigation Trustee shall not make Litigation Trust Distributions from Litigation Trust Loan Collateral without the written consent of Apollo if there is an outstanding balance owned under the Litigation Trust Loan as of such proposed Distribution.
Upon the transfer of the GUC Cash Settlement, the Litigation Trust Loan, and the Litigation Trust Causes of Action, the Debtors or the Reorganized Debtors, as the case may be, shall have no interest in or with respect to the GUC Cash Settlement, the Litigation Trust Loan, the Litigation Trust Causes of Action, or the Litigation Trust, except with respect to repayment of the Litigation Trust Loan.
The Paragon Loan Party’s obligation to fund the Litigation Trust Loan shall terminate upon the receipt by the Litigation Trust of proceeds of the Trust Assets in the aggregate amount of the Term Loan Commitment.