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The Litigation Funding Agreement is a crucial document used when a party seeks external funding to pursue legal claims in Austria. It establishes the legal and commercial framework for third-party funding of litigation or arbitration proceedings, which is fully permitted under Austrian law. The agreement details how the litigation funder will provide financial support for legal costs, expert fees, and other expenses in exchange for a share of the potential recovery. This document is particularly relevant for complex commercial disputes, class actions, or situations where claimants lack sufficient resources to pursue valid legal claims. The agreement includes comprehensive provisions on funding mechanisms, risk sharing, control rights, and return calculations, while ensuring compliance with Austrian regulatory requirements and professional conduct rules. It's designed to protect both the funder's investment and the funded party's interests while maintaining the integrity of the legal proceedings.

1. Parties: Identification of the funder and the funded party, including their legal status and contact details

2. Background: Context of the litigation funding arrangement and brief description of the underlying claim

3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules of interpretation

4. Scope of Funding: Detailed description of what costs and expenses will be covered by the funding

5. Funding Amount and Drawdown: Maximum funding amount and procedures for requesting and receiving funds

6. Return on Investment: Calculation method for the funder's return and priority of payments from proceeds

7. Representations and Warranties: Statements of fact and assurances from both parties

8. Obligations of the Funded Party: Duties regarding case prosecution, information sharing, and cooperation

9. Control and Conduct of Litigation: Decision-making rights and consultation requirements regarding the litigation

10. Confidentiality and Data Protection: Obligations regarding confidential information and personal data handling

11. Term and Termination: Duration of the agreement and circumstances allowing early termination

12. Consequences of Termination: Rights and obligations of parties following termination

13. Dispute Resolution: Procedures for resolving disputes between the parties

14. General Provisions: Standard contractual provisions including notices, amendments, and governing law