Funding of the Litigation Trust Sample Clauses

Funding of the Litigation Trust. On the Effective Date, Reorganized Tribune, as lender, and the Litigation Trust, as borrower, shall become parties to the Trust Loan Agreement. The Trust Loan Agreement shall provide for a term loan in the aggregate principal amount of $20 million. Except as expressly provided in the Trust Loan Agreement, none of the Debtors or the Reorganized Debtors shall have any liability for any cost or expense of the Litigation Trust. Any failure or inability of the Litigation Trust to obtain funding will not affect the enforceability of the Litigation Trust.
Sample 1
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Funding of the Litigation Trust. (a) On the Effective Date, Reorganized Casino shall make a loan to the Litigation Trust in cash in the amount of $375,000 to be loaned, with recourse to the Litigation Trust Assets only, to fund the fees, expenses, and costs of the Litigation Trust (the “Litigation Trust Loan”). The Litigation Trust Loan shall be evidenced by a note payable by the Litigation Trust to Reorganized Casino, the form of which is included in the Plan Supplement. In the event of any inconsistency between the terms of the Plan and the terms of such documentation, the terms of such documentation shall control. (b) The Litigation Trust Loan shall accrue simple interest at the rate of 8% annually. The Litigation Trust Loan and accrued interest on that loan shall be paid in accordance with the Litigation Distribution Schedule. (c) Any failure or inability of the Litigation Trust to obtain funding will not affect the enforceability of the Litigation Trust.
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Funding of the Litigation Trust. The Litigation Trust shall be funded with the Litigation Trust Funding, subject to Section 3.1(c) hereof. Any failure or inability of the Litigation Trust to obtain funding will not affect the enforceability of the Litigation Trust. Notwithstanding anything to the contrary herein, (a) no portion of the GUC Recovery Pool shall be used to fund the Litigation Trust, and the GUC Recovery Pool shall be distributed, in its entirety, directly to Holders of Allowed Non-Lender GUC Claims; and (b) no portion of the Litigation Trust Funding, Professional Claim Reserve, or Admin/Priority Reserve shall constitute Litigation Trust Assets, and any excess Litigation Trust Funding, Professional Claim Reserve, or Admin/Priority reserve, if any, shall constitute Available Cash and shall be distributed pursuant to the Plan to the Holders of Allowed Prepetition Secured Lender Claims.
Sample 1
Funding of the Litigation Trust. (a) On the Effective Date, the Creditor Representative may provide the Initial Funding Amount to the Litigation Trust. From time to time thereafter, the Creditor Representative may provide additional funding in accordance with the Creditor Representative Supplement to fund the fees, expenses, and costs of the Litigation Trust. To the extent that a portion of any funding provided to the Litigation Trust by the Creditor Representative is not needed or reasonably likely to be used to defray the costs and expenses of the Litigation Trust, such funds shall be returned to Creditor Representative. Neither the Debtors nor the Reorganized Debtors shall have any obligation with respect to, or liability for, any decision by the Creditor Representative with respect to funding of the Litigation Trust. (b) Any failure or inability of the Litigation Trust to obtain funding will not affect the enforceability of the Litigation Trust.
Sample 1
Funding of the Litigation Trust. On the Effective Date, Reorganized Tribune, as lender, and the Litigation Trust and the Creditors’ Trust, as borrowersborrower, shall become parties to the Trusts’Trust Loan Agreement. The Litigation Trust and the Creditors’ Trust shall be jointly and severally liable for the full repayment of the Trusts’ Loan. The Trusts’ The Trust Loan Agreement shall provide for a delayed draw term loan in the aggregate principal amount of $20 million. Except as expressly provided in the Trusts’Trust Loan Agreement, none of the Debtors or the Reorganized Debtors shall have any liability for any cost or expense of the Litigation Trust.
Sample 1
Funding of the Litigation Trust. (a) On the Effective Date and from time to time thereafter as determined jointly by the Distribution Trustee and the Litigation Trustee, with the approval of the Distribution Trust Advisory Board and the Litigation Trust Advisory Board, respectively, the Distribution Trust shall provide an agreed amount of funding to the Litigation Trust from the Distribution Trust Initial Funding and the other sources of funding available to the Distribution Trust, and the Litigation Trust shall establish an expense fund (the “Trust Expense Fund”) therewith to fund the costs and expenses involved in the administration and operation of the Litigation Trust, as set forth herein and in the Plan. To the extent that any of such funding is not used, and no longer reserved, to fund such costs and expenses of the Litigation Trust (as determined by the Litigation Trust Advisory Board, and the Distribution Trust Advisory Board), such unused funding (but not any other Trust Expense Funding) shall be returned to the Distribution Trust promptly following the final resolution of all Litigation Trust Causes of Action. Further, the Litigation Trustee shall have the power and authority, with the approval of the Litigation Trust Advisory Board, to retain proceeds from any of the Litigation Trust Assets and to add such proceeds to the Trust Expense Fund, at any time and from time to time, in such amounts as the Litigation Trustee, with the approval of the Litigation Trust Advisory Board, deems reasonable and appropriate to ensure that the Trust Expense Fund will be adequate to meet the applicable costs and expenses of the Litigation Trust, and to arrange for other sources of financing, as the Litigation Trustee deems necessary or desirable in its sole discretion, subject to the approval of the Litigation Trust Advisory Board. Any amounts used by the Litigation Trustee to fund the Trust Expense Fund are hereinafter referred to as “Trust Expense Funding.” (b) Any failure or inability of the Litigation Trust to obtain Trust Expense Funding will not affect the enforceability of the Litigation Trust.
Sample 1
Funding of the Litigation Trust. On the Effective Date, the Litigation Trust Lenders and the Litigation Trust shall become parties to the Litigation Trust Facility. The Litigation Trust Facility shall provide for a facility in the aggregate amount of up to $ million on the terms, and subject to the conditions, set forth therein. Except as expressly provided in the Litigation Trust Facility Documents, none of the Debtors, Reorganized Debtors, Litigation Trustee or professionals retained by the Litigation Trust shall have any liability (personal or otherwise) for any cost or expense of the Litigation Trust. Any failure or inability of the Litigation Trust to obtain funding will not affect the enforceability of the Litigation Trust.
Sample 1
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Funding of the Litigation Trust. Commencing on the Effective Date, the Litigation Trust shall be funded in accordance with the terms of the Plan. On the Effective Date, the Litigation Trust Cash Contribution will be transferred to the Litigation Trust; provided, that $50,000 of the Litigation Trust Cash Contribution shall be held in escrow by the Litigation Trustee to be used solely for the benefit of the Equity Committee designees on the Oversight Committee to investigate and object to any settlement of Claims or Litigation Trust Causes of Action proposed by the Litigation Trustee. The Litigation Trustee shall not have any obligation with respect to, or liability for, any issues with respect to funding of the Litigation Trust.
Sample 1

Related to Funding of the Litigation Trust

  • Outside Activities of the Limited Partners Subject to the provisions of Section 7.5, which shall continue to be applicable to the Persons referred to therein, regardless of whether such Persons shall also be Limited Partners, any Limited Partner shall be entitled to and may have business interests and engage in business activities in addition to those relating to the Partnership, including business interests and activities in direct competition with the Partnership Group. Neither the Partnership nor any of the other Partners shall have any rights by virtue of this Agreement in any business ventures of any Limited Partner.

  • Administration and Servicing of the Trust Fund Section 3.01 Master Servicer to Act as Master Servicer; Special

  • Organization and Standing of the Purchasers If the Purchaser is an entity, such Purchaser is a corporation, limited liability company or partnership duly incorporated or organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization.

  • Cooperation with Agents of the Trust The Adviser agrees to cooperate with and provide reasonable assistance to the Trust, any Trust custodian or foreign sub-custodians, any Trust pricing agents and all other agents and representatives of the Trust, such information with respect to the Funds as they may reasonably request from time to time in the performance of their obligations, provide prompt responses to reasonable requests made by such persons and establish appropriate interfaces with each so as to promote the efficient exchange of information and compliance with applicable laws and regulations.

  • Conditions to Closing of the Company The Company’s obligation to sell the Securities at the Closing is subject to the fulfillment to its satisfaction on or prior to the Closing Date of each of the following conditions:

  • Organization and Standing of the Investor The Investor is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Delaware.

  • Anti-Trust The MA Dual SNP hereby certifies to HHSC that neither the MA Dual SNP, nor the person represented by the MA Dual SNP, nor any person acting for the represented person, has been found by a judgment of a court of law to have violated the anti-trust laws codified by Chapter 15, Texas Business and Commerce Code, or the federal anti-trust laws.

  • Rights and Obligations of the Limited Partners 8.1 Management of the Partnership. The Limited Partners shall not participate in the management or control of Partnership business nor shall they transact any business for the Partnership, nor shall they have the power to sign for or bind the Partnership, such powers being vested solely and exclusively in the General Partner.

  • Good Standing of the Fund The Fund has been duly organized and is validly existing as a corporation in good standing under the laws of the State of Maryland and has the corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement; and the Fund is duly qualified as a foreign corporation to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.

  • Organization and Standing of the Company The Company is a duly organized and validly existing corporation in good standing under the laws of the State of Nevada and has all requisite corporate power and authority for the ownership and operation of its properties and for the carrying on of its business as now conducted and as now proposed to be conducted and to execute and deliver this Agreement and other instruments, agreements and documents contemplated herein (together with this Agreement, the “Transaction Documents”), to issue, sell and deliver the Shares and to perform its other obligations pursuant hereto. The Company is duly licensed or qualified and in good standing as a foreign corporation authorized to do business in all jurisdictions wherein the character of the property owned or leased or the nature of the activities conducted by it makes such licensing or qualification necessary, except where the failure to be so licensed or qualified would not have a material adverse effect on the business, operations or financial condition of the Company.

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