Third-Party Release Definition: 388 Samples | Law Insider (2024)

FAQs

Third-Party Release Definition: 388 Samples | Law Insider? ›

Third-Party Release means the release given by each of the Releasing Parties to the Released Parties as set forth in Article VIII. E of the Plan.

Third-party releases. contemplate releases of claims or causes of action held by a non- debtor against another non-debtor, while exculpation provisions.

A person who is not a principal party. Often refers to someone who is not party to a dispute or agreement. courts.

third party. n. a person who is not a party to a contract or a transaction, but has an involvement (such as one who is a buyer from one of the parties, was present when the agreement was signed or made an offer that was rejected).

Under an “opt-out” provision, a creditor or interest holder must affirmatively abstain from voting in favor of a Chapter 11 plan and/or provide documentation to the debtor stating that they do not consent to the third-release by checking a box on the voting ballot.

A third-party beneficiary (TPB) is a person or entity who, though not a party to the contract, stands to benefit from the contract's performance. Typically, the TPB needs to be expressly named in the contract from which it stands to benefit.

In E-commerce, "3rd Party (3P) source" refers to a seller who publishes products on a marketplace, without this marketplace to own or physically carry those products. When an order comes in, a 3P seller has the item on hand and fulfills it.

Third parties are individuals or entities that help facilitate a transaction but are not one of the primary parties. Common examples of third parties include mediators, payment processors, real estate escrow companies, and delivery services.

A 3rd party definition can be any person or legal entity that is not directly involved in the execution of a legal agreement, but may be indirectly involved in a number of different ways.

What does no third party mean? ›

/θəd ˈpɑti/ Other forms: third parties. In the U.S., belonging to a third party means you're not a Democrat or Republican. Since the 19th century, no candidate from a third party has won a presidential election. The United States has essentially been a two-party system ever since the republic was founded.

Unauthorized Third Party means any person or entity that, at the time of the Computer Fraud, is not an Authorized User.

Go to the Security section of your Google Account. Under “Third-party apps with account access,” select Manage third-party access. Select the app or service you want to remove.

There are two kinds of third-party beneficiaries: an “intentional or intended” beneficiary and an “incidental” beneficiary. When a non-party to a contract receives benefit from the agreement directly, this is known as an intentional beneficiary.

A promisee is a party who pays consideration to obtain the promisor's promise. For instance, a mother purchased medical insurance for her son from an insurance company; the mother is the promisee, the son is the third-party beneficiary and the company is the promisor.

The clearest example of a third-party beneficiary is found in life insurance contracts. An individual enters into a contract with an insurance company that requires the payment of death benefits to a third party.

Second party data is data that is shared or sold by one company with another company, where these two companies know and trust each other; Third party data is data collected by companies that don't have a direct relationship with the buying party, and can be bought at an online third party data marketplace.

What is first-party vs. third-party data? First-party data is what you collect from your audience directly, via your own channels. Third-party data is collected by another entity that is entirely separate from your relationship with your audience.

The difference between first-party and third-party sales. Third-party e-commerce businesses market and sell products directly to consumers through a channel like Amazon or eBay. Sellers pay a fee for the privilege – typically on a per sale basis. In a first-party relationship, sellers become wholesalers.

Examples of Authorised Third Party Disclosures: Other schools: If a pupil transfers from the School to another school, their academic records and other data that relates to their health and welfare will be forwarded to the new school.

What are examples of third party ownership? ›

The insurance owner and the insured are two different entities. As in our previous example, parents buying a life insurance policy on their child when he or she is born is third party insurance ownership.

There are four basic third-party negotiator roles: consultant, conciliator, mediator, and arbitrator. Each of these third-party negotiator roles provides a specific service for the parties who have employed them.

“Categories of third parties” means types or groupings of third parties with whom the business shares personal information, described with enough particularity to provide consumers with a meaningful understanding of the type of third party.

No disagreements were so severe that a third party was needed to resolve the issue. This third party needs reliable information on the facts of the case.

Definition(s): relationships with external entities. External entities may include, for example, service providers, vendors, supply-side partners, demand-side partners, alliances, consortiums, and investors, and may include both contractual and non-contractual parties.

A third-party transaction is a business deal that involves a person or entity other than the main participants. Typically, it would involve a buyer, a seller, and another party—the third party. The involvement of the third party can vary, based on the type of business transaction.

Third Party Confidential Information means any and all non-public information provided to Employee, on a confidential basis, by or on behalf of any existing or potential client, vendor, or other person or entity in an existing or potential business relationship with the Company.

Third-Party Misrepresentation or Fraud means a misrepresentation or fraud by anyone other than the Insured, its employees or agents.

An agent is not liable for any contracts he or she makes with authority on behalf of a fully disclosed principal. Therefore, if a third party knows the existence and identity of the principal, then all legal liability lies with the principal. The only exception to this is when an agent exceeds his or her authority.

Third-party cookies track your online activities without affecting your user experience. This is why, if given a choice, you should permanently disable third-party cookies. Because they track your behavior to deliver more relevant adverts to you, third-party cookies are often referred to as tracking cookies.

What is a third party release in Chapter 11? ›

The releases were approved by the bankruptcy court and imposed on parties who never consented to the releases. These third-party releases have been a condition of approval of a debtor's plan of reorganization and have been deemed 'necessary' to implement a plan and permit a debtor to emerge from chapter 11.

What Is a Third-Party Transaction? A third-party transaction is a business deal that involves a person or entity other than the main participants. Typically, it would involve a buyer, a seller, and another party—the third party.

Third-party delivery means outsourcing your delivery logistics to a third-party company. An example is when an online clothes retailer pays DHL to deliver its products to customers. In the restaurant industry, companies like Deliveroo, Foodpanda, and Grubhub all deliver food on behalf of restaurants to customers.

The escrow agreement is a financial agreement in which a third party holds the financial payment between two parties. A third party is an independent person who holds the funds to ensure the security of the transaction.

A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains “in possession,” has the powers and duties of a trustee, may continue to operate its business, and may, with court approval, borrow new money.

The votes of insiders, including nonstatutory insiders, to accept a chapter 11 plan do not count in determining whether the plan has been accepted by at least one class of impaired claims, a requirement for the bankruptcy court to confirm the plan.

In a Chapter 11 case filed by an individual (i.e., a natural person), a discharge is granted by the court separately, after the completion of payments under the plan. A discharge is a court order relieving the debtor from liability for certain debts.

Third parties are individuals or entities that help facilitate a transaction but are not one of the primary parties. Common examples of third parties include mediators, payment processors, real estate escrow companies, and delivery services.

Examples of third-party data include user feedback, website and app interactions, and interview and focus group responses.

A third party is an entity that is involved in some way in an interaction that is primarily between two other entities. A contract might be, for example, between a software company that creates a mobile app and an end user.

What is a 3rd party fulfillment process? ›

What is third party fulfillment? Third-party fulfillment refers refers to the outsourcing of ecommerce logistics processes, including warehousing, picking and packing items, inventory management, shipping orders, and managing returns.

Lack of customer control: A significant drawback to third-party apps is sacrificing control over the entire delivery journey. Sure, you can govern how mouth-watering your menu items turn out, but after you hand the order to the courier, there's no sure way to ensure the entire experience goes as planned.

Prepaid (PREPAID) - The seller is responsible for the payment of the freight. Third Party Collect (TP-COLLECT) - A third party organization is responsible for all or part of the payment processing, but the buyer is responsible for the actual payment.

With mortgages, the tri-party, or tripartite, agreement, usually happens during the construction phase of a property to secure bridge loans. In tripartite, the three parties are the buyer (or borrower of the loan), the lender and the company building the property.

Definitely! Simply include the personal information of the family member or friend who will be making your payment in the “Payer Information” section during the booking process. If you are paying through a third party, you can include the information of the person who instructs them to transfer the funds.

Third Party Owner means any person who is the legal or beneficial owner (including a Lessor) of any Assets used or occupied by, or in the possession of the Deed Company as at the Appointment Date.