Ordinary Course Litigation definition
Ordinary Course Litigation has the meaning specified in Section 5.4.
Ordinary Course Litigation means any litigation or arbitration proceeding commenced by a Mortgagor, or the assertion by a Mortgagor of any common or necessary or compulsory cause of action, defense or counterclaim, seeking to enjoin, hinder, delay, set aside or temporarily restrain a foreclosure proceeding or other enforcement action commenced by the holder or servicer of a Mortgage Loan or real estate owned Property in the ordinary course of its business.
Ordinary Course Litigation is defined in Section 4.01(d).
Examples of Ordinary Course Litigation in a sentence
The Investors acknowledge and agree that the Company shall be entitled, following the date hereof, to amend and supplement Schedules 2.6 and 2.7(a), in each case solely to identify additional complaints from Litigation (other than complaints related to Ordinary Course Litigation) of which the Company did not have Knowledge on the date hereof, that are exceptions to the representations and warranties contained in such Sections 2.6 and 2.7(a).
The control and management of any suits and proceedings that are not Ordinary Course Litigation shall be determined on a case by case basis by the Members.
More Definitions of Ordinary Course Litigation
Ordinary Course Litigation means claims which relate to Reinsurance Agreements, Retrocession Agreements or Primary Policies entered into by Insurance Subsidiaries in the ordinary course of business.
Ordinary Course Litigation means Litigation arising in the ordinary course of business of the Company and the Subsidiaries relating to the business and operations of the Company and the Subsidiaries which satisfies all of the following criteria:
Ordinary Course Litigation has the meaning assigned to such term in Section 3.04.
Ordinary Course Litigation has the meaning assigned to such term in Section 3.04. “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Taxes (other than a connection arising from such Recipient having executed, delivered, enforced, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document), or sold or assigned an interest in any Loan, Letter of Credit or any Loan Document. “Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made under Section 2.16(b)). “Overnight Bank Funding Rate” means, for any day, the rate comprised of both overnight federal funds and overnight Eurodollareurocurrency borrowings by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRBFederal Reserve Bank of New York, as set forth on its public website from time to time, and as published on the next succeeding Business Day byas the NYFRB as an overnight bank funding rate. by the Federal Reserve Bank of New York (or by such other recognized electronic source (such as Bloomberg) selected by the Administrative Agent for the purpose of displaying such rate); provided, that if such day is not a Business Day, the Overnight Bank Funding Rate for such day shall be such rate on the immediately preceding Business Day; provided, further, that if such rate shall at any time, for any reason, no longer exist, a comparable replacement rate determined by the Administrative Agent at such time (which determination shall be conclusive absent manifest error). If the Overnight Bank Funding Rate determined as above would be less than zero, then such rate shall be deemed to be zero. Such rate of interest charged shall be adjusted as of each Business Day based on changes in the Overnight Bank Funding Rate without notice to the Borrower. “P/C Subsidiary” means any Subsidiary of the Borrower that is engaged in the ...
Ordinary Course Litigation means any litigation or arbitration proceeding commenced by a Mortgagor, or the assertion by a Mortgagor of any common or necessary or compulsory cause of action, defense or counterclaim, seeking to enjoin, hinder, delay, set aside or temporarily restrain a foreclosure proceeding or other LEGAL02/43092007v4 enforcement action commenced by the holder or servicer of a Mortgage Loan or real estate owned Property in the ordinary course of its business.
Ordinary Course Litigation is defined in Section 7.4. Participants is defined in Section 12.2.1. Participations is defined in Section 12.2.1.
Ordinary Course Litigation has the meaning given in the BofA/Max Credit Agreement as of the date hereof.