Common use of Disallowance of Claims Clause in Contracts

Disallowance of Claims. Any Claims held by Entities from which property is recoverable under section 542, 543, 550, or 553 of the Bankruptcy Code or that is a transferee of a transfer avoidable under section 522(f), 522(h), 544, 545, 547, 548, 549, or 724(a) of the Bankruptcy Code, shall be deemed Disallowed pursuant to section 502(d) of the Bankruptcy Code, and Holders of such Claims may not receive any distributions on account of such Claims until such time as such Causes of Action against that Entity have been settled or a Bankruptcy Court order with respect thereto has been entered and all sums due, if any, to the Debtors by that Entity have been turned over or paid to the Debtors or the Reorganized Debtors. All Proofs of Claim Filed on account of an Indemnification Obligation shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent such Indemnification Obligation is assumed (or honored or reaffirmed, as the case may be) pursuant to the Plan, without any further notice to or action, order, or approval of the Bankruptcy Court. All Proofs of Claim Filed on account of an Employee Obligation shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent the Reorganized Debtors elect to honor such Obligation, without any further notice to or action, order, or approval of the Bankruptcy Court. Except as otherwise provided herein or otherwise agreed by (1) the Debtors or the Reorganized Debtors, in consultation with the GUC Oversight Administrator with respect to Claims that would be Distribution Agent Claims, or (2) the GUC Oversight Administrator with respect to Claims that would be GUC Administrator Claims, any and all Proofs of Claim Filed after the applicable Claims Bar Date shall be deemed Disallowed and expunged as of the Effective Date without any further notice or action, order, or approval of the Bankruptcy Court, and Holders of such Claims may not receive any distributions on account of such Claims, unless the Bankruptcy Court shall have determined by a Final Order, on or before the Confirmation Hearing, that cause exists to extend the Claims Bar Date as to such Proof of Claim on the basis of excusable neglect.

Disallowance of Claims. Any Claims held by Entities from which property is recoverable under section 542, 543, 550, or 553 of the Bankruptcy Code or that is a transferee of a transfer avoidable under section 522(f), 522(h), 544, 545, 547, 548, 549, or 724(a) of the Bankruptcy Code, shall be deemed Disallowed pursuant to section 502(d) of the Bankruptcy Code, and Holders of such Claims may not receive any distributions on account of such Claims until such time as such Causes of Action against that Entity have been settled or a Bankruptcy Court order with respect thereto has been entered and all sums due, if any, to the Debtors by that Entity have been turned over or paid to the Debtors or the Reorganized Debtors. All Proofs of Claim Filed on account of an Indemnification Obligation shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent such Indemnification Obligation is assumed (or honored or reaffirmed, as the case may be) pursuant to the Plan, without any further notice to or action, order, or approval of the Bankruptcy Court. All Proofs of Claim Filed on account of an Employee Obligation shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent the Reorganized Debtors elect to honor such Obligation, without any further notice to or action, order, or approval of the Bankruptcy Court. Except as otherwise provided herein or otherwise agreed by (1) the Debtors or the Reorganized Debtors, in consultation with the GUC Oversight Administrator with respect to Claims that would be Distribution Agent Claims, or (2) the GUC Oversight Administrator with respect to Claims that would be GUC Administrator Claims, any and all Proofs of Claim Filed after the applicable Claims Bar Date shall be deemed Disallowed and expunged as of the Effective Date without any further notice or action, order, or approval of the Bankruptcy Court, and Holders of such Claims may not receive any distributions on account of such Claims, unless the Bankruptcy Court shall have determined by a Final Order, on or before the Confirmation Hearing, that cause exists to extend the Claims Bar Date as to such Proof of Claim on the basis of excusable neglect.

Disallowance of Claims. Any Claims held by Entities from which property is recoverable under section sections 542, 543, 550, or 553 of the Bankruptcy Code or that is a transferee of a transfer avoidable under section 522(f), 522(h), 544, 545, 547, 548, 549, or 724(a) of the Bankruptcy Code, as determined by a Final Order, shall be deemed Disallowed disallowed pursuant to section 502(d) of the Bankruptcy Code, and Holders holders of such Claims may not receive any distributions on account of such Claims until such time as such Causes of Action against that Entity have been settled or a Bankruptcy Court order Final Order with respect thereto has been entered and all sums due, if any, to the Debtors by that Entity have been turned over or paid to the Debtors or the Reorganized Debtors. All Proofs proofs of Claim Filed claim filed on account of an Indemnification Obligation indemnification obligation to a current or former director, officer, or employee shall be deemed satisfied and expunged from the Claims Register claims register as of the Effective Date to the extent such Indemnification Obligation indemnification obligation is assumed (or honored or reaffirmed, as the case may be) pursuant to the Plan, without any further notice to or action, order, or approval of the Bankruptcy Court. All Proofs Except as otherwise provided herein, all proofs of Claim Filed on account of an Employee Obligation shall be deemed satisfied and expunged from the Claims Register as of claim filed after the Effective Date to shall be disallowed and forever barred, estopped, and enjoined from assertion, and shall not be enforceable against any Reorganized Debtor, without the extent need for any objection by the Reorganized Debtors elect to honor such Obligation, without or any further notice to or action, order, or approval of the Bankruptcy Court. Except as otherwise provided herein or otherwise agreed by (1) the Debtors or the Reorganized Debtors, in consultation with the GUC Oversight Administrator with respect to Claims that would be Distribution Agent Claims, or (2) the GUC Oversight Administrator with respect to Claims that would be GUC Administrator Claims, any and all Proofs of Claim Filed after the applicable Claims Bar Date shall be deemed Disallowed and expunged as of the Effective Date without any further notice or action, order, or approval of the Bankruptcy Court, and Holders of such Claims may not receive any distributions on account of such Claims, unless the Bankruptcy Court shall have determined by a Final Order, on or before the Confirmation Hearing, that cause exists to extend the Claims Bar Date as to such Proof of Claim on the basis of excusable neglect.

Disallowance of Claims. Any All Claims held by Entities of any Entity from which property is recoverable sought by the Debtors under section Bankruptcy Code sections 542, 543, 550, or 553 of the Bankruptcy Code or that the Debtors or the Reorganized Debtors allege is a transferee of a transfer that is avoidable under section Bankruptcy Code sections 522(f), 522(h), 544, 545, 547, 548, 549, or 724(a) of (to the Bankruptcy Code, extent applicable) shall be deemed Disallowed pursuant to section 502(ddisallowed if: (a) of the Bankruptcy CodeEntity, on the one hand, and Holders of such Claims may not receive any distributions on account of such Claims until such time as such Causes of Action against that Entity have been settled or a Bankruptcy Court order with respect thereto has been entered and all sums due, if any, to the Debtors by that Entity have been turned over or paid to the Debtors or the Reorganized Debtors, as applicable, on the other hand, agree or the Bankruptcy Court has determined by Final Order that such Entity or transferee is liable to turn over any property or monies under any of the aforementioned sections of the Bankruptcy Code; and (b) such Entity or transferee has failed to turn over such property by the date set forth in such agreement or Final Order. All Proofs of Claim Filed Claims filed on account of an Indemnification Obligation indemnification obligation to a director, member, officer, employee, or similar party shall be deemed satisfied and expunged from the Claims Register register as of the Effective Date to the extent such Indemnification Obligation indemnification obligation is assumed (or honored or reaffirmed, as the case may be) pursuant to the Plan, without any further notice to or action, order, or approval of the Bankruptcy Court. All Proofs of Claim Filed Claims filed on account of an Employee Obligation employee benefit shall be deemed satisfied and expunged from the Claims Register register as of the Effective Date to the extent the Reorganized Debtors elect to honor such Obligationemployee benefit, without any further notice to or action, order, or approval of the Bankruptcy Court. Except as otherwise provided herein or otherwise agreed by (1) the Debtors or the Reorganized Debtors, in consultation with the GUC Oversight Administrator with respect to Claims that would be Distribution Agent Claims, or (2) the GUC Oversight Administrator with respect to Claims that would be GUC Administrator Claimsagreed, any and all Proofs of Claim Filed filed after the applicable Claims Bar Date shall be deemed Disallowed disallowed and expunged as of the Effective Date without any further notice to or action, order, or approval of the Bankruptcy Court, and Holders of such Claims may shall not receive any distributions on account of such Claims, unless the Bankruptcy Court shall have determined by a Final Order, on or before the Confirmation Hearing, that cause exists to extend the Claims Bar Date as to Hearing such Proof of late Claim on the basis of excusable neglecthas been deemed timely filed by a Final Order.

Disallowance of Claims. Any Claims held by Entities from which property is recoverable under section 542, 543, 550, or 553 of the Bankruptcy Code or that is a transferee of a transfer avoidable under section 522(f), 522(h), 544, 545, 547, 548, 549, or 724(a) of the Bankruptcy Code, shall be deemed Disallowed pursuant to section 502(d) of the Bankruptcy Code, and Holders holders of such Claims may not receive any distributions on account of such Claims until such time as such Causes of Action against that Entity have been settled or a Bankruptcy Court order with respect thereto has been entered and all sums due, if any, to the Debtors by that Entity have been turned over or paid to the Debtors or the Reorganized Debtors. All Proofs of Claim Filed on account of an Indemnification Obligation indemnification obligation to a director, officer, or employee shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent such Indemnification Obligation indemnification obligation is assumed (or honored or reaffirmed, as the case may be) pursuant to the Plan, without any further notice to or action, order, or approval of the Bankruptcy Court. All Proofs of Claim Filed on account of an Employee Obligation shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent the Reorganized Debtors elect to honor such Obligation, without any further notice to or action, order, or approval of the Bankruptcy Court. Except as otherwise provided herein or otherwise agreed by (1) the Debtors or the Reorganized Debtors, in consultation with the GUC Oversight Administrator including with respect to Claims that would be Distribution Agent Claims, any counterparties to rejected Executory Contracts or (2Unexpired Leases who are required to file Proofs of Claim after the rejection of their contracts or leases) the GUC Oversight Administrator with respect to Claims that would be GUC Administrator Claimsor otherwise agreed, any and all Proofs of Claim or requests for payment of Administrative Claims, as applicable, Filed after the applicable Claims Bar Date, Administrative Claims Bar Date, Final Administrative Claims Bar Date, Outside Rejection Damages Claim Deadline, and Governmental Bar Date, as applicable, shall be deemed Disallowed and expunged as of the Effective Date without any further shall be deemed Disallowed and expunged as of the Effective Date without any further notice to or action, order, or approval of the Bankruptcy Court, and Holders holders of such Claims may not receive any distributions on account of such Claims, unless the Bankruptcy Court shall have determined by a Final Order, on or before the Confirmation Hearing, that cause exists to extend the Claims Bar Date as to Hearing such Proof of late Filed Claim on the basis of excusable neglecthas been deemed timely Filed by a Final Order.

Disallowance of Claims. Any Claims held by Entities from which the Bankruptcy Court has determined that property is recoverable under section 542, 543, 550, or 553 of the Bankruptcy Code or that is a transferee of a transfer that the Bankruptcy Court has determined is avoidable under section 522(f), 522(h), 544, 545, 547, 548, 549, or 724(a) of the Bankruptcy Code, shall be deemed Disallowed disallowed pursuant to section 502(d) of the Bankruptcy Code, and Holders of such Claims may not receive any distributions on account of such Claims until such time as such Causes of Action against that Entity have been settled or a Bankruptcy Court order with respect thereto has been entered and all sums due, if any, the full amount of such obligation to the Debtors by that Entity have has been paid or turned over or paid to the Debtors or the Reorganized Debtorsin full. All Proofs of Claim Filed on account of an Indemnification Obligation shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent such Indemnification Obligation is assumed (or honored or reaffirmed, as the case may be) pursuant to the Plan, without any further notice to or action, order, or approval of the Bankruptcy Court. All Proofs of Claim Filed on account of an Employee Obligation employee benefit shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent the Reorganized Debtors Entities elect to honor such Obligationemployee benefit, without any further notice to or action, order, or approval of the Bankruptcy Court. Except as otherwise provided herein or otherwise agreed by (1) the Debtors or the Reorganized Debtors, in consultation with the GUC Oversight Administrator with respect to Claims that would be Distribution Agent Claims, or (2) the GUC Oversight Administrator with respect to Claims that would be GUC Administrator Claimsagreed, any and all Proofs of Claim Filed after the applicable Claims Bar Date shall be deemed Disallowed disallowed and expunged as of the Effective Date without any further notice to or action, order, or approval of the Bankruptcy Court, and Holders of such Claims may not receive any distributions on account of such Claims, unless the Bankruptcy Court shall have determined by a Final Order, on or before the Confirmation Hearing, that cause exists to extend the Claims Bar Date as to Hearing such Proof of late Claim on the basis of excusable neglecthas been deemed timely Filed by a Final Order.

Disallowance of Claims. Any Claims held by Entities from which property is recoverable under section sections 542, 543, 550, or 553 of the Bankruptcy Code or that is a transferee of a transfer avoidable under section 522(f), 522(h), 544, 545, 547, 548, 549, or 724(a) of the Bankruptcy Code, shall be deemed Disallowed disallowed pursuant to section 502(d) of the Bankruptcy Code, and Holders holders of such Claims may not receive any distributions on account of such Claims until such time as such Causes of Action against that Entity have been settled or a Bankruptcy Court order Final Order with respect thereto has been entered and all sums due, if any, to the Debtors by that Entity have been turned over or paid to the Debtors or the Reorganized Debtors. All Proofs of Claim Filed on account of an Indemnification Obligation indemnification obligation to a director, officer, or employee shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent such Indemnification Obligation indemnification obligation is assumed (or honored or reaffirmed, as the case may be) pursuant to the Plan, without any further notice to or action, order, or approval of the Bankruptcy Court. All Except as provided herein or otherwise agreed, any and all Proofs of Claim Filed filed after the Claims Bar Date, Administrative Claims Bar Date, or deadline for filing Proofs of Claim based on account the rejection of an Employee Obligation Executory Contract or Unexpired Lease, as applicable, shall be deemed satisfied disallowed and expunged from the Claims Register as of the Effective Date to the extent the Reorganized Debtors elect to honor such Obligation, without any further notice to or action, order, or approval of the Bankruptcy Court. Except as otherwise provided herein or otherwise agreed by (1) the Debtors or the Reorganized Debtors, in consultation with the GUC Oversight Administrator with respect to Claims that would be Distribution Agent Claims, or (2) the GUC Oversight Administrator with respect to Claims that would be GUC Administrator Claims, any and all Proofs of Claim Filed after the applicable Claims Bar Date shall be deemed Disallowed and expunged as of the Effective Date without any further notice or action, order, or approval of the Bankruptcy Court, and Holders holders of such Claims may not receive any distributions on account of such Claims, unless the Bankruptcy Court shall have determined by a Final Order, on or before the Confirmation Hearing, that cause exists to extend the Claims Bar Date as to Hearing such Proof of late Filed Claim on the basis of excusable neglecthas been deemed timely Filed by a Final Order.

Disallowance of Claims. Any Claims held by Entities from which property is recoverable under section sections 542, 543, 550, or 553 of the Bankruptcy Code or that is a transferee of a transfer avoidable under section sections 522(f), 522(h), 544, 545, 547, 548, 549, or 724(a) of the Bankruptcy Code, shall not be Allowed or deemed Disallowed pursuant to section 502(d) of the Bankruptcy CodeAllowed, and Holders of such Claims may not receive any distributions on account of such Claims until such time as such Causes of Action against that Entity have been settled or a Bankruptcy Court order with respect thereto has been entered and all sums due, if any, to the Debtors by that Entity have been turned over or paid to the Debtors or the Reorganized Debtors. All Proofs of Claim Filed on account of an Indemnification Obligation shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent such Indemnification Obligation is assumed (or honored or reaffirmed, as the case may be) pursuant to the Plan, without any further notice to or action, order, or approval of the Bankruptcy Court. All Proofs of Claim Filed on account Notwithstanding anything to the contrary in this Plan, any Holder of an Employee Obligation shall be deemed satisfied and expunged Allowed Claim under section 502(h) of the Bankruptcy Code arising from an Avoidance Action shall, in lieu of any distribution to Holders of Allowed General Unsecured Claims, solely receive Cash from the proceeds of such Avoidance Action in an amount reasonably equivalent to the percentage recovery received by Holders of General Unsecured Claims Register as based on the enterprise value of the Effective Date to the extent Debtors for purposes of Confirmation; provided that the Reorganized Debtors may elect to honor such Obligation, in their sole discretion (and without any further notice approval from the Court) to or action, order, or approval instead have such amount of Cash set off against the Bankruptcy Court. Except as otherwise provided herein or otherwise agreed by (1) the Debtors or the Reorganized Debtors, in consultation with the GUC Oversight Administrator with respect to Claims that would be Distribution Agent Claims, or (2) the GUC Oversight Administrator with respect to Claims that would be GUC Administrator Claims, any and all Proofs of Claim Filed after recovery from the applicable Claims Bar Date shall be deemed Disallowed and expunged as of the Effective Date without any further notice or action, order, or approval of the Bankruptcy Court, and Holders of such Claims may not receive any distributions on account of such Claims, unless the Bankruptcy Court shall have determined by a Final Order, on or before the Confirmation Hearing, that cause exists to extend the Claims Bar Date as to such Proof of Claim on the basis of excusable neglectAvoidance Action.

Disallowance of Claims. Any Unless the Avoidance Action Waiver applies, any Claims held by Entities from which property is recoverable under section sections 542, 543, 550, or 553 of the Bankruptcy Code or that is a transferee of a transfer avoidable under section sections 522(f), 522(h), 544, 545, 547, 548, 549, or 724(a) of the Bankruptcy Code, shall be deemed Disallowed pursuant to section 502(d) of the Bankruptcy Code, and Holders holders of such Claims may not receive any distributions on account of such Claims until such time as such Causes of Action against that Entity have been settled or a Bankruptcy Court order with respect thereto has been entered and all sums due, if any, to the Debtors by that Entity have been turned over or paid to the Debtors or the Reorganized Debtors, as applicable. All Proofs of Claim Filed on account of an Indemnification Obligation shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent such Indemnification Obligation is assumed (or honored or reaffirmed, as the case may be) pursuant to the Plan, without any further notice to or action, order, or approval of the Bankruptcy Court. All Proofs of Claim Filed on account of an Employee Obligation shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent the Reorganized Debtors elect to honor such Obligation, without any further notice to or action, order, or approval of the Bankruptcy Court. Except as otherwise provided herein or otherwise as agreed to by (1) the Reorganized Debtors or the Reorganized Debtors, in consultation with the GUC Oversight Administrator with respect to Claims that would be Distribution Agent Claims, or (2) the GUC Oversight Administrator with respect to Claims that would be GUC Administrator ClaimsTrust, any and all Proofs of Claim Filed after the applicable Claims Bar Date shall be deemed Disallowed and expunged as of the Effective Date without any further notice to or action, order, or approval of the Bankruptcy Court, and Holders holders of such Claims may not receive any distributions on account of such Claims, unless the Bankruptcy Court shall have determined such late Proof of Claim has been deemed timely Filed by a Final Order, on or before the Confirmation Hearing, that cause exists to extend the Claims Bar Date as to such Proof of Claim on the basis of excusable neglect.

Disallowance of Claims. Any Claims held by Entities from which property is recoverable under section 542, 543, 550, or 553 of the Bankruptcy Code or that is a transferee of a transfer avoidable under section 522(f), 522(h), 544, 545, 547, 548, 549, or 724(a) of the Bankruptcy Code, shall be deemed Disallowed pursuant to section 502(d) of the Bankruptcy Code, and Holders of such Claims may not receive any distributions on account of such Claims until such time as such Causes of Action against that Entity have been settled or a Bankruptcy Court order with respect thereto has been entered and all sums due, if any, to the Debtors by that Entity have been turned over or paid to the Debtors or the Reorganized Debtors. All Proofs of Claim Filed on account of an Indemnification Obligation shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent such Indemnification Obligation is assumed (or honored or reaffirmed, as the case may be) pursuant to the Plan, without any further notice to or action, order, or approval of the Bankruptcy Court. All Proofs of Claim Filed on account of an Employee Obligation shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent the Reorganized Debtors Entities elect to honor such Obligation, without any further notice to or action, order, or approval of the Bankruptcy Court. Except as otherwise provided herein or otherwise agreed by (1) the Debtors or the Reorganized Debtors, in consultation with the GUC Oversight Administrator with respect to Claims that would be Distribution Agent Claims, or Debtors (2) the GUC Oversight Administrator with respect to Claims that would be GUC Administrator Claimsas applicable), any and all Proofs of Claim Filed after the applicable Claims Bar Date shall be deemed Disallowed and expunged as of the Effective Date without any further notice or action, order, or approval of the Bankruptcy Court, and Holders of such Claims may not receive any distributions on account of such Claims, unless the Bankruptcy Court shall have determined by a Final Order, on or before the Confirmation Hearing, that cause exists to extend the Claims Bar Date as to such Proof of Claim on the basis of excusable neglect.