Receivership Entity definition
Examples of Receivership Entity in a sentence
The Receiver (on behalf of the Receivership Entity generally and ACF specifically) represents that he has the power and authority to enter into this Agreement and provide the Release to DFS upon approval of this Agreement by the Court.
The Receiver (on behalf of the Receivership Entity generally and ACF specifically) and DFS are each represented by counsel and have consulted with their counsel regarding the terms and legal meaning of this Agreement.
The Receiver (on behalf of the Receivership Entity generally and ACF specifically) and DFS shall assume responsibility for the payment of their own attorneys’ fees, costs, and expenses in this matter, including the negotiation of this Agreement and the legal work associated with obtaining the entry of an Order approving this Agreement by the Court.
For the avoidance of doubt, the parties agree that Purchaser is not a successor employer to Seller or any Receivership Entity, and Purchaser has no obligation to assume any employment or benefits-related obligations, including any employment agreements, fringe benefit payments, vacation pay, COBRA obligations or any other benefits of employment, of Seller or any Receivership Entity, all of which, to the extent applicable, shall be Excluded Liabilities.
DFS disputes the Receiver’s assertions, other than the Receiver’s acknowledgment that the Receivership Entity is currently using certain assets listed in the Subject Agreement.
This Release shall bind the Receiver (on behalf of the Receivership Entity generally and ACF specifically) and DFS as well as their respective officers, directors, receivers, trustees, insurers, marital communities, successors, subrogees, transferees, and assigns to the maximum extent allowable by law.
DFS agrees that Agreement 501 was paid in full by the Receivership Entity on or about June 23, 2017, and, consequently, the Receivership Entity holds any assets listed on Agreement 501 free and clear of any lien by DFS that formerly arose from Agreement 501.
This Agreement sets forth the full and complete agreement of the Receiver (on behalf of the Receivership Entity generally and ACF specifically) and DFS with respect to its subject matter, and there is no mistake of law or fact with respect to this Agreement.
Within three (3) business days after Court approval of this Agreement, the Receiver will pay DFS $100,000 (the “Settlement Payment”) on behalf of the Receivership Entity, which amount will: (i) be consideration for DFS’s release of its Asserted Lien; and (ii) reduce the amount of DFS’s claim arising from the Subject Agreement against the Receivership Estate by $100,000.
This Agreement is not and may not be construed as an admission or acknowledgment of liability or wrongdoing on the part of the Receiver (on behalf of the Receivership Entity generally and ACF specifically) or DFS, each of which denies any and all liability.