Net Litigation Proceeds means the proceeds actually received by Ainsworth from the full and final determination or settlement of each claim in the Litigation, after deduction of: (i) any Litigation Payments; (ii) all costs and expenses incurred by or on behalf of Ainsworth in relation to such claim including, without limitation, all fees and expenses of legal counsel, advisors and experts and all out-of-pocket travel, filing, reproduction and other costs; and (iii) any cash taxes payable in respect of such proceeds after taking into account any available tax credits or deductions, any tax sharing arrangements and any tax elections available to the Company or the recipient of the Net Litigation Proceeds that would minimize the amount of cash taxes payable (including any elections to reduce any purchase price associated with the Litigation).
Net Litigation Proceeds means any Cash received by CIH, ELT or the Litigation Trust from any source in connection with the prosecution, settlement and enforcement or realization of the Applicable Causes of Action, the DSM SPA Causes of Action and the CIH Causes of Action, less the payment of all fees, expenses and out-of-pocket costs incurred by CIH, the Litigation Trust, and ELT in connection therewith (which such parties are hereby authorized to pay from such Cash without any notice to any other parties in interest or the Bankruptcy Court and without any requirement of application or hearing).
Net Litigation Proceeds means the amount of any Litigation Proceeds after satisfaction of all fees, costs and expenses, including attorney’s fees, incurred by the Liquidating Trust in the prosecution of such litigation claims.
Examples of Net Litigation Proceeds in a sentence
Once all such Causes of Action have been resolved by Final Order, the Excess Litigation Proceeds shall be divided among the Debtor Groups pro rata based on the amount of Net Litigation Proceeds recovered by each such Debtor Group.
On the Effective Date, the Litigation Trust shall be established pursuant to the Litigation Trust Agreement for the purposes of, among other things, (i) holding the Causes of Action, (ii) prosecuting, settling, enforcing and/or realizing on the Causes of Action, and (iii) if applicable, paying a portion of the Net Litigation Proceeds to the Debtors (which will be added to the GUC Funds).
In the event net proceeds from the Actions are in excess of the amounts necessary to satisfy the Second Class 3 Distribution, the Net Litigation Proceeds will be split evenly between the reorganized Debtors and Class 3 creditors until Class 3 creditors are repaid 100% of their claims.
The Net Litigation Proceeds shall be paid to Class 3 creditors and applied against the Second Class 3 Distribution.
After the Initial Class 3 Distribution, all Net Litigation Proceeds shall be utilized to pay the Exit Funding, on the terms set forth on the Plan Funding Agreement.
More Definitions of Net Litigation Proceeds
Net Litigation Proceeds means the proceeds generated from the pursuit of
Net Litigation Proceeds means the difference between (i) all cash proceeds of the Retained Causes of Action received by the Post-Effective Date Debtors and the Litigation Trustee (if applicable) plus the Non-Cash Retained Causes of Action Proceeds (if any), and (ii) the actual reasonable costs incurred in prosecuting the Retained Causes of Action, including attorneys fees and costs of the Post-Effective Date Debtors or the Litigation Trustee (as applicable) plus the portion of the proceeds of the Retained Causes of Action, if any, required to be paid to the Holders of General Unsecured Claims pursuant to the Plan.
Net Litigation Proceeds means the full amount of any cash or sums recovered or received by the Credit Parties, or any Wholly Owned Subsidiary, from any Claim (whether pursuant to court order, at trial or upon appeal, or pursuant to the terms of any settlement agreement), less (i) fees and expenses paid or obligated to be paid to any Litigation Funder, and (ii) fees and expenses paid or to be paid to legal counsel to the Borrower in connection therewith. However, if a supply or similar arrangement is entered into pursuant to the terms of any settlement agreement, Net Litigation Proceeds shall be limited to Gross Profit from such arrangement, less (i) fees and expenses paid or obligated to be paid to any Litigation Funder, and (ii) fees and expenses paid or to be paid to legal counsel to the Borrower in connection therewith.
Net Litigation Proceeds means the (i) IP Litigation Distributable Proceeds, and (ii) all actual proceeds of the Actions, less reasonable attorneys’ fees, costs and related expenses.
Net Litigation Proceeds means all proceeds received in connection with prosecution of Reserved Litigation Claims, net of all respective necessary and actual costs and expenses associated with such transaction (including, without limitation, reasonable attorneys’ fees and other costs, fees and expenses).
Net Litigation Proceeds means the gross proceeds realized by the Litigation Trust in respect of all of the Debtors' Causes of Action (exclusive of Net Avoidance Litigation Proceeds and Net MAFCO Litigation Proceeds) net of payment of all expenses of the Litigation Trust (other than those allocable to Net Avoidance Proceeds and Net MAFCO Litigation Proceeds) including, without limitation, payment without duplication of all sums due and owing pursuant to the Professional Fee Reimbursement Note.
Net Litigation Proceeds means cash sums actually received or recovered by the Company (including its subsidiaries) from a defendant or other opposing party in litigation, for, on account of, or in connection with any of the Pending Patent Cases, less (1) fees and expenses of the Company’s legal counsel (including expert fees and counsel’s contingency fees) for the Patent Pending Cases that are actually paid by Company, (2) fees and expenses of the Company’s legal counsel incurred in connection with any related Inter Partes Review (IPR) proceeding, Covered Business Method (CBM) proceeding, or any other validity proceedings or petitions for such proceedings filed with the United States Patent and Trademark Office’s Patent Trial and Appeal Board (PTAB) or the federal courts, relating to any of the patents that are the subject of the Company’s Pending Patent Cases, and (3) any debt or other contractual payment obligation (whether fixed or contingent), or any proceed right or similar obligation, or any expense reimbursement obligation payable to any third party lender or funding entity (including any successor(s) or assign(s)) for the Company’s Pending Patent Cases that has a contractual priority superior to that of the Company’s with respect to litigation proceeds (including any settlement and judgment collection) received in connection with the Company’s Pending Patent Cases and that is actually paid in money by Company (but not in equity or stock). Pursuant to this definition, expenses in one of the three categories set forth herein from one of the Company’s Pending Patent Cases may never be used to offset or reduce litigation proceeds obtained in a separate Pending Patent Case.