Common use of Disputed and Contingent Claims Reserve Clause in Contracts

Disputed and Contingent Claims Reserve. On the Effective Date, in consultation with the Required Commitment Parties and the Committee, the Debtors or Reorganized Debtors, as applicable, may establish one or more reserves for alleged General Unsecured Claims that are contingent or have not yet been Allowed, in an estimated amount or amounts as reasonably determined by the applicable Debtors in their discretion, consisting of Unsecured Pool Equity and Unsecured Pool Recovery Cash in the same proportions and amounts as provided for in the Plan.

Appears in 2 contracts

Samples: Stipulation, and Joinder Agreement (Seadrill LTD), www.sec.gov

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Disputed and Contingent Claims Reserve. On the Effective Date, in consultation with the Required Commitment Parties and the Committee, the Debtors or and/or Reorganized Debtors, as applicable, may may, in consultation with the Creditors Committee, establish one or more reserves for alleged General Unsecured Claims that are contingent or have not yet been Allowed, in an estimated amount or amounts as reasonably determined by the applicable Debtors in their discretion, consisting discretion with the reasonable consent of Unsecured Pool Equity the Required Consenting Creditors and Unsecured Pool Recovery Cash in the same proportions and amounts as provided for in the PlanCreditors Committee.

Appears in 1 contract

Samples: Restructuring Support Agreement (Valaris PLC)

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Disputed and Contingent Claims Reserve. On the Effective Date, in consultation with the Required Commitment Parties and the Committee, the Debtors or and/or Reorganized Debtors, as applicable, may establish one or more reserves for alleged General Unsecured Claims that are contingent or have not yet been Allowed, in an estimated amount or amounts as reasonably determined by the applicable Debtors in their discretion, consisting discretion with the reasonable consent of Unsecured Pool Equity and Unsecured Pool Recovery Cash in the same proportions and amounts as provided for in the PlanRequisite Consenting Stakeholders.

Appears in 1 contract

Samples: Backstop and Private Placement Agreement (Diamond Offshore Drilling, Inc.)

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