Initial Payment Percentage. “Initial Payment Percentage” shall have the meaning ascribed to it in Section 3.3 hereof.
Initial Payment Percentage. The “Initial Payment Percentage” shall indicate a particular ARACOR Shareholder’s, or ARACOR Optionholder’s, as the case may be, share of the Initial Payment net of Other Fees.
Initial Payment Percentage. During the first two years of operation, the Trustees will have difficulty in calculating the Payment Percentage because of uncertainties in the total number, quality and value of Asbestos Claims and the actual value of the Trust Assets. During the first two years following the Effective Date, while these matters are particularly uncertain, the Trust can and shall rely upon the calculation of the Initial Payment Percentage, as described in the Plan and use the Initial Payment Percentage in paying (i) Prepetition Liquidated Claims or claims under the Individualized Review Process pursuant to the APICRP and (ii) PD Claims liquidated and Allowed prior to the Effective Date which shall be paid within six (6) months of the Effective Date. If the Trustees conclude that use of the Initial Payment Percentage will adversely affect the interests of future claimants or present claimants who have not yet been liquidated and Allowed, the Trustees shall either suspend payments until they are able to determine an appropriate Payment Percentage, or exercise their powers as set forth herein and in the CRP. During the first two (2) years following the Effective Date, Claims that are liquidated and Allowed but as to which payments have been suspended, shall receive when such payments resume, through installments or otherwise, the Payment Percentage in force at the time of liquidation and Allowance. Claims that are liquidated and Allowed during the first two (2) years following the Effective Date, but after a decision by the Trustees to reduce the Initial Payment Percentage to a new Payment Percentage, shall receive payments in the future, in installments or otherwise (but for a period no longer than ten (10) years after the date of liquidation and Allowance), equal to any increase in the Payment Percentage, CLOSING BINDER INDEX TAB NO. _____ but in no event shall such claimant receive more than the Initial Payment Percentage times the Allowed Amount of such claimant's Claim.
