Pre-Effective Date Unknown Claim Reserve Sample Clauses

Pre-Effective Date Unknown Claim Reserve. After the Trustee notifies the Reorganized Debtor that the Survivor Claims Reviewer has determined that there are one or more valid Pre-Effective Unknown Survivor Claims, the Diocese shall contribute $250,000 separate from the Trust Assets to a reserve fund for Pre-Effective Date Unknown Claims pursuant to the Plan (the “Pre-Effective Date Unknown Claim Reserve”). The Trustee shall also allocate $250,000 of the Trust’s initial corpus to the Pre-Effective Date Unknown Claim Reserve. The payments to holders of Pre-Effective Date Unknown Survivor Claims shall be made in accordance with the Survivor Claim Distribution Plan. The Pre-Effective Date Unknown Claim Reserve will terminate after the payment of all allowed Pre-Effective Date Unknown Survivor Claims. After the Pre-Effective Date Unknown Claim Reserve terminates, to the extent there are any remaining funds after payment to all Pre-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 completion of payments to holders of allowed Pre-Effective Date Unknown Survivor Claims. 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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