Distribution of Net Sale Proceeds. If at any time any person or entity purchases the BMI/Landwell Assets from the Nevada Trust, whether by right of first refusal or otherwise, the Net Sale Proceeds shall be distributed as follows: (x) the first $20 million, to the Nevada Trust Environmental Cost Account and/or Nevada Trust Administrative Account, as jointly directed by the State of Nevada and the United States, (y) 35% of the Net Sale Proceeds above $20 million, to the Nevada Trust Environmental Cost Account and/or Nevada Trust Administrative Account, as jointly directed by the State of Nevada and the United States, and (z) 65% of the Net Sale Proceeds above $20 million, (i) first, to any Administrative Account, Environmental Cost Account, or Work Account in the Multistate Trust, Cimarron Trust, Nevada Trust, Savannah Trust, or West Chicago Trust, as directed by the United States, if there are remaining Environmental Actions to be performed at the Owned Sites, the Non- Owned RAS Properties, Xxxxx Creek, and the Non-Owned Service Stations (each as defined in the Settlement Agreement) in those Trusts and a need for additional trust funding; (ii) second, to any Non-Owned Site (as defined in the Settlement Agreement), as directed by the United States, with a need for additional funding of Environmental Actions beyond the distributions designated to be received from the Anadarko Litigation Proceeds; and (iii) third, to the Superfund. Nothing in this Subsection is intended to preclude or limit any transfers of funds from any other accounts established in the Settlement Agreement to the Nevada Trust Environmental Cost Account or Nevada Trust Administrative Account pursuant to the terms of any applicable funds transfer provision in the Settlement Agreement if there are remaining Environmental Actions to be performed at or with respect to the Henderson Property and a need for additional trust funding.
Distribution of Net Sale Proceeds. On the Effective Date, or as soon as reasonably practicable thereafter, the Disbursing Agent shall distribute all shares of the common stock of the Parent received upon consummation of the Sale Transaction to Holders of Allowed Class A4 Claims and Allowed Class A5 Claims as of the Effective Date. The Disbursing Agent shall determine the Pro Rata allocation of shares of common stock of the Parent to such Holders by assigning a Cash value to each share based on the Parent Common Stock Effective Date Market Value. Notwithstanding any other provision in this Plan to the contrary, no fraction of a share of the common stock of the Parent will be issued and all issuances of the common stock of the Parent will be rounded down to the nearest whole number of shares of the common stock of the Parent. Any Holder of a Claim who would otherwise be entitled to receive a fraction of a share of the common stock of the Parent (after aggregating all fractional shares of the common stock of the Parent issuable to such Holder) shall, in lieu of such fraction of a share, be paid in Cash the dollar amount (rounded up to the nearest whole cent) determined by multiplying such fraction by the the Parent Common Stock Effective Date Market Value.
