TPTX » Topics » Uncovered Litigation Damages

This excerpt taken from the TPTX 8-K filed Jun 12, 2006.
“Uncovered Litigation Damages” shall mean an amount (which may not be less than zero) equal to (i) the total of all actual, unpaid liabilities, losses or damages, including any amounts incurred after this Agreement as a deductible and amounts incurred in settlement, attorney’s fees and costs, which are incurred by Axonyx in connection with the Axonyx Pending Litigation, plus any attorneys’ fees and costs incurred by Axonyx in negotiating or litigating potential coverage disputes with their insurance carriers in connection with the Axonyx Pending Litigation, minus (ii) any amounts received by Axonyx (or for which Axonyx has, in good faith, determined will be received by Axonyx) from its insurance

 

 

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carriers with respect to such liabilities, losses or damages and for which in the case of amounts not yet received, Axonyx’s insurance carriers have not rejected or denied.

 

 

 

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