Common use of Claims Paid by Third Parties Clause in Contracts

Claims Paid by Third Parties. The Debtors and, on and after the Effective Date, the Reorganization Trust, the Post-Effective-Date Xxxxx City Debtors, the Post-Effective-Date Debtor Subsidiaries, and the Purchaser, as applicable, after the Effective Date, shall reduce in full a Claim, and such Claim shall be disallowed without a Claims objection having to be Filed and without any further notice to or action, order, or approval of the Bankruptcy Court, to the extent that the Holder of such Claim receives payment in full on account of such Claim from a Person or Entity that is not a Debtor as of the Effective Date. To the extent a Holder of a Claim receives a distribution on account of such Claim and receives payment from a party that is not a Debtor on account of such Claim, such Holder shall, within two weeks of receipt thereof, repay or return the distribution to the Reorganization Trust, the Post-Effective-Date Xxxxx City Debtors, the Post-Effective-Date Debtor Subsidiaries, or the Purchaser, as applicable, to the extent the Holder’s total recovery on account of such Claim from the third-party and under the Plan exceeds the Allowed amount of such Claim as of the date of any such distribution under the Plan.

Claims Paid by Third Parties. The Debtors and, on and after or the Effective Date, the Reorganization Trust, the Post-Effective-Date Xxxxx City Reorganized Debtors, the Post-Effective-Date Debtor Subsidiaries, and the Purchaser, as applicable, after the Effective Date, shall reduce in full a Claim, and such Claim shall be disallowed without a Claims objection having to be Filed filed and without any further notice to or action, order, or approval of the Bankruptcy Court, to the extent that the Holder of such Claim receives payment in full on account of such Claim from a Person or Entity that is not a Debtor as of the Effective Date. To to the extent a Holder of a Claim receives a distribution on account of such Claim and receives payment from a party that is not a Debtor or Reorganized Debtor on account of such Claim, such Holder shall, within two weeks of receipt thereof, repay or return the distribution to the Reorganization Trust, the Post-Effective-Date Xxxxx City Reorganized Debtors, the Post-Effective-Date Debtor Subsidiaries, or the Purchaser, as applicable, to the extent the Holder’s total recovery on account of such Claim from the third-third party and under the Plan exceeds the Allowed amount of such Claim as of the date of any such distribution under the Plan. If the Debtors become aware of the payment by a third party, the Debtors or Reorganized Debtors, as applicable, will send a notice of wrongful payment to such party requesting return of any excess payments and advising the recipient of the provisions of the Plan requiring turnover of excess estate funds. The failure of such Holder to timely repay or return such distribution shall result in the Holder owing the Reorganized Debtors annualized interest at the Federal Judgment Rate on such amount owed for each Business Day after the two-week grace period specified above until the amount is repaid.

Claims Paid by Third Parties. The Debtors and, on and after the Effective Date, the Reorganization Trust, the Post-Effective-Date Xxxxx City Debtors, the Post-Effective-Date Debtor Subsidiaries, and the Purchaser, as applicable, after the Effective Date, Creditor Claim Representative shall reduce in full a Claim, and such Claim shall be disallowed Disallowed without a Claims Claim objection having to be Filed and without any further notice to or action, order, or approval of the Bankruptcy Court, to the extent that the Holder holder of such Claim receives payment in full on account of such Claim from a Person or Entity party that is not a Debtor as or Reorganized Debtor; provided that the Creditor Claim Representative shall provide 21 days’ notice to the holder prior to any disallowance of such Claim during which period the Effective Dateholder may object to such disallowance, and if the parties cannot reach an agreed resolution, the matter shall be decided by the Court. To Subject to the last sentence of this paragraph, to the extent a Holder holder of a Claim receives a distribution on account of such Claim and receives payment from a party that is not a Debtor or a Reorganized Debtor on account of such Claim, such Holder holder shall, within two weeks fourteen days of receipt thereof, repay or return the distribution to the Reorganization Trust, the Post-Effective-Date Xxxxx City Debtors, the Post-Effective-Date Debtor SubsidiariesReorganized Debtors, or the PurchaserUnsecured Creditor Distribution Trustee, as applicable, to the extent the Holderholder’s total recovery on account of such Claim from the third-third party and under the Plan exceeds the Allowed amount of such Claim as of the date of any such distribution under the Plan. The failure of such holder to timely repay or return such distribution shall result in the holder owing the Debtors, the Reorganized Debtors, or the Unsecured Creditor Distribution Trustee, as applicable, annualized interest at the Federal Judgment Rate on such amount owed for each Business Day after the fourteen-day grace period specified above until the amount is repaid.

Claims Paid by Third Parties. The Debtors and, on and after the Effective Date, the Reorganization Trust, the Post-Effective-Date Xxxxx City Debtors, the Post-Effective-Date Debtor SubsidiariesA Claim shall be correspondingly reduced, and the Purchaser, as applicable, after the Effective Date, shall reduce in full a Claim, and applicable portion of such Claim shall be disallowed Disallowed without a Claims an objection to such Claim having to be Filed and without any further notice to or action, order, or approval of the Bankruptcy Court, to the extent that the Holder of such Claim receives a payment in full on account of such Claim from a Person or Entity party that is not a Debtor as or Reorganized Debtor; provided that the Debtors shall provide 21 calendar days’ notice to the Holder prior to any disallowance of such Claim during which period the Effective DateHolder may object to such disallowance, and if the parties cannot reach an agreed resolution, the matter shall be decided by the Bankruptcy Court. To Subject to the last sentence of this paragraph, to the extent a Holder of a Claim receives a distribution on account of such Claim and receives payment from a party that is not a Debtor or a Reorganized Debtor on account of such Claim, such Holder shall, within two weeks 14 calendar days of receipt thereof, repay or return the distribution to the Reorganization Trust, the Post-Effective-Date Xxxxx City Debtors, the Post-Effective-Date Debtor Subsidiaries, or the Purchaser, as applicable, Reorganized Debtors to the extent the Holder’s total recovery on account of such Claim from the third-third party and under the Plan exceeds the Allowed amount of such Claim as of the date of any such distribution under the Plan. The failure of such Holder to timely repay or return such distribution shall result in the Holder owing the Reorganized Debtors annualized interest at the Federal Judgment Rate on such amount owed for each business day after the 14‑day grace period specified above until the amount is repaid.

Claims Paid by Third Parties. The Debtors and, on and after or the Effective Date, the Reorganization Trust, the Post-Effective-Date Xxxxx City Reorganized Debtors, the Post-Effective-Date Debtor Subsidiaries, and the Purchaser, as applicable, after with respect to Claims other than General Unsecured Claims, and the Effective DateGUC Administrator with respect to General Unsecured Claims, shall reduce in full a an Allowed Claim, and such Claim shall be disallowed Disallowed without a Claims Claim objection having to be Filed and without any further notice to or action, order, or approval of the Bankruptcy Court, to the extent that the Holder of such Claim receives payment in full on account of such Claim from a Person or Entity party that is not a Debtor as or Reorganized Debtor. Subject to the last sentence of the Effective Date. To this paragraph, to the extent a Holder of a Claim receives a distribution on account of such Claim and thereafter receives payment from a party that is not a Debtor Debtor, a Reorganized Debtor, or the GUC Administrator on account of such Claim, such Holder shall, within two weeks fourteen (14) days of receipt thereof, repay or return the distribution to the Reorganization Trust, the Post-Effective-Date Xxxxx City Debtors, the Post-Effective-Date Debtor Subsidiaries, Reorganized Debtors or the PurchaserGUC Administrator, as applicable, to the extent the Holder’s total recovery on account of such Claim from the third-third party and under the Plan exceeds the Allowed amount of such Claim as of the date Petition Date. The failure of any such Holder to timely repay or return such distribution under shall result in the PlanHolder owing the Reorganized Debtors or the GUC Administrator, as applicable, annualized interest at the Federal Judgment Rate on such amount owed for each Business Day after the fourteen (14) day grace period specified above until the amount is repaid.