Ordinary Litigation definition

Ordinary Litigation means any Non-Disclosed or Future Lawsuit and any Existing Lawsuit Group C that has the following characteristics cumulatively:
View Source
Ordinary Litigation means any Non-Disclosed or Future Lawsuit and any Existing Lawsuit Group C that has the following characteristics cumulatively: (a) regarding to a right or individual interest and prosecuted by natural person or private legal entity; (b) that is of civil or labor nature; and (c) involves a financial amount equal to or less than R$ 50,000.00 (fifty thousand reais), adjusted by IGP-M, as from the date of execution of this Agreement, until the date of the suffered or incurred Loss. For proper clarity it shall not be deemed an Ordinary Litigation any Non-Disclosed or Future Lawsuit or any Existing Lawsuit Group C, (a) regarding to individual or collective rights or homogeneous individual rights, (b) prosecuted by Governmental Authority or (c) regarding to a professional association or other person representing any group or group of Persons. For avoidance of doubts, the Parties acknowledge that the financial amount of Loss of any Lawsuit of Ordinary Litigation includes, besides of any condemnation, all Losses related to the Lawsuit or arising from it.
View Source

Examples of Ordinary Litigation in a sentence

  • The Reorganized Debtor, as the successor in interest to the Debtor and the Estate, may enforce, ▇▇▇ on, settle or compromise (or decline to do any of the foregoing) any or all of the Ordinary Litigation Claims or any other claims, rights of action, suits or proceedings that the Debtor or its Estate may hold against any Person, and the failure to specifically identify any Ordinary Litigation Claim as being retained herein shall not effectuate a waiver or release of such Ordinary Litigation Claim.

  • Except as otherwise provided in this Plan, the Confirmation Order, or in any document, instrument, release or other agreement entered into in connection with this Plan, in accordance with section 1123(b)(3)(B) of the Bankruptcy Code, the Debtor and its Estate shall retain the Ordinary Litigation Claims.

  • The replacement of the Security Deposit Agent shall require the approval of the Seller Responsible for Existing Lawsuits Group A and Ordinary Litigation and Buyer.

  • The Seller Responsible for Existing Lawsuits Group A and Ordinary Litigation shall be exclusively responsible for any Losses resulting from any investments of the Escrow Funds of Existing Lawsuits Group A and Ordinary Litigation.

  • The Seller Responsible for Existing Lawsuits Group A and Ordinary Litigation shall take the defense in a diligent manner, by means of attorneys at its own choice.

  • The guarantee of the Guarantor Buyer shall expire within thirty (30) days after the liquidation of Purchase Price and the deposit of Additional Contingent Purchase Price in Escrow Account of the Seller Responsible for Existing Lawsuits Group A and Ordinary Litigation.

  • On the Closing Date, the Additional Contingent Purchase Price owed to Seller Responsible for Existing Lawsuits Group A and Ordinary Litigation shall be deposited in the Escrow Account of Seller Responsible for Existing Lawsuits Group A and Ordinary Litigation.

  • In addition to the portion of the Purchase Price owed to the Seller Responsible for Existing Lawsuits Group A and Ordinary Litigation, Buyer shall pay the Seller Responsible for Existing Lawsuits Group A and Ordinary Litigation, on the Closing Date, the Additional Contingent Purchase Price, as per Section 4.2.

  • The Seller Responsible for Existing Lawsuits Group A and Ordinary Litigation shall be exclusively liable for all Losses arising from or related to the Existing Lawsuits Group A and Ordinary Litigation and no other Seller shall be liable for indemnifying a Buyer’s Indemnitee for any Losses arising from or related to any Existing Lawsuits Group A and Ordinary Litigation.

  • Group A and Ordinary Litigation shall be invested in (i) bonds issued by the Brazilian treasury, (ii) certificates of bank deposits (CDBs) or (iii) fixed income or DI investment funds, as set forth in the Escrow Agreement of Seller Responsible for Existing Lawsuits Group A and Ordinary Litigation, or (iv) any other investment chosen and mutually agreed upon by the Seller Responsible for Existing Lawsuits Group A and Ordinary Litigation and Buyer.