NXXX Xxxim Sample Clauses

NXXX Xxxim. (1) The NEAG Claim shall be deemed to be secured by a valid and perfected security interest in the INB Claimed Material, and UBS shall be entitled to the proceeds of the INB Claimed Material. (2) On the Effective Date, UBS shall be deemed to have assigned to the Liquidating Trust (without recourse or warranty) all of its rights, title and interest in and to the NEAG Claim, except for UBS' interest in, or claims to, the German Collateral (the "Assigned NEAG Claim"). In connection with such assignment, the NTC Bankruptcy Estate hereby assumes any indemnification liability UBS might otherwise have pursuant to Section 17 of the NEAG Settlement Agreement. The allowance of the Assigned NEAG Claim against NEAG shall be the subject of a separate agreement between NEAG and the NTC Bankruptcy Estate. The Liquidating Trust shall be entitled to recover from NEAG as an unsecured creditor on the Assigned NEAG Rights to the same extent UBS would have recovered had UBS retained the Assigned NEAG Rights, provided that the Liquidating Trust's recovery shall not be diminished, reduced or offset by any amounts received by UBS on the NTC Claim.
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