Post-Effective Date Unknown Claim Reserve Sample Clauses

Post-Effective Date Unknown Claim Reserve. After the Plan Effective Date, the Diocese shall contribute $200,000 separate from the Trust Assets to a reserve fund for Post- Effective Date Unknown Survivor Claims pursuant to the Survivor Claim Distribution Plan (the “Post-Effective Date Unknown Claim Reserve”). The Trustee shall also allocate $200,000 of the Trust’s initial corpus to the Post-Effective Date Unknown Claim Reserve. The payments to holders of Post-Effective Date Unknown Survivor Claims shall be made in accordance with the Survivor Claim Distribution Plan. The Post-Effective Date Unknown Claim Reserve will terminate on the earlier of: (i) the exhaustion of the Post-Effective Date Unknown Claim Reserve or (ii) the occurrence of the fifth (5th) anniversary of the Plan Effective Date. After the Post- Effective Date Unknown Claim Reserve terminates, to the extent there are any remaining funds after payment to all Post-Effective Date Unknown Survivor Claims pursuant to the Survivor Claim Distribution Plan, such remaining funds shall be divided equally, with the Trustee returning one half of the remaining funds to the Reorganized Debtor within 30 days after the termination of the Post-Effective Date Unknown Claim Reserve. The remaining half of such funds shall be retained by the Trust, with no further restrictions on the Trust’s use of such funds except for the general restrictions on use of Trust Assets provided for herein.
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Related to Post-Effective Date Unknown Claim Reserve

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