Common use of Calculation of DOCA Creditor Entitlements Clause in Contracts

Calculation of DOCA Creditor Entitlements. (a) The Deed Company will calculate each Admitted Group Creditor’s DOCA Creditor Entitlements as at the Record Date and shall carry out the calculation: (i) in relation to an Admitted Group Creditor’s EPM Entitlements, on the Business Day following the Record Date; and (ii) in relation to an Admitted Group Creditor’s Litigation Entitlements, as soon as reasonably possible following the Administrators’ determination that a distribution shall be payable in relation to the Post- Restructuring Litigation Recoveries in accordance with Clause 11 (Litigation Undertaking) and Clause 12 (Post-Restructuring Litigation Recoveries). (b) Each Admitted Group Creditor’s DOCA Creditor Entitlements will be calculated in accordance with Clauses 8.3 (Calculation of EPM Entitlements) and 12 (Post-Restructuring Litigation Recoveries) and will, for the avoidance of doubt, exclude entitlements relating to the AFF Waived Claims and Intra-Group Claims. (c) For the purpose of allocating and distributing DOCA Creditor Entitlements relating to Capital Markets Claims, the Deed Administrators will allow a Certificate Holder to receive DOCA Creditor Entitlements as if the Proof of Debt submitted in respect of the Capital Markets Claim was submitted by the relevant Certificate Holder pro rata to that Certificate Holder’s portion of the relevant Capital Markets Claim, subject to the conditions set out in Clause 9.3 (Distributions to Capital Markets Trustees).

Appears in 19 contracts

Samples: Deed of Company Arrangement, Deed of Company Arrangement, Deed of Company Arrangement

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Calculation of DOCA Creditor Entitlements. (a) The Deed Company will calculate each Admitted Group Creditor’s DOCA Creditor Entitlements as at the Record Date and shall carry out the calculation: (i) in relation to an Admitted Group Creditor’s EPM Entitlements, on the Business Day following the Record Date; and (ii) in relation to an Admitted Group Creditor’s Litigation Entitlements, as soon as reasonably possible following the Administrators’ determination that a distribution shall be payable in relation to the Post- Post-Restructuring Litigation Recoveries in accordance with Clause 11 (Litigation Undertaking) and Clause 12 (Post-Restructuring Litigation Recoveries). (b) Each Admitted Group Creditor’s DOCA Creditor Entitlements will be calculated in accordance with Clauses 8.3 (Calculation of EPM Entitlements) and 12 (Post-Post- Restructuring Litigation Recoveries) and will, for the avoidance of doubt, exclude entitlements relating to the AFF Waived Claims and Intra-Group Claims. (c) For the purpose of allocating and distributing DOCA Creditor Entitlements relating to Capital Markets Claims, the Deed Administrators will allow a Certificate Holder to receive DOCA Creditor Entitlements as if the Proof of Debt submitted in respect of the Capital Markets Claim was submitted by the relevant Certificate Holder pro rata to that Certificate Holder’s portion of the relevant Capital Markets Claim., subject to the conditions set out in Clause 9.3 (Distributions to Capital Markets Trustees).

Appears in 1 contract

Samples: Deed of Company Arrangement

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