Common use of Settlement Fund Clause in Contracts

Settlement Fund. All monies paid to the Settlement Facility under the terms of the Funding Payment Agreement, and all earnings thereon, if any, except the Litigation Fund, shall be defined as the “Settlement Fund.” The Settlement Fund shall be reserved for the resolution of Settling Personal Injury Claims and all Other Claims not subject to the Litigation Fund and all costs and administrative expenses of the Settlement Facility (not including costs and expenses of the Litigation Facility) and shall not be used or accessible for any other reason. Specifically, the Settlement Fund shall be used for payment of the Allowed amount of Claims of Settling Claimants in Classes 5-10, 6A, 6B, 6C, 6D and, to the extent provided in the Litigation Facility Agreement, Litigated Shareholder Claims, and for the Allowed amount of obligations described at Sections 6.16.5 and 6.16.6 of the Plan, and for payment of the Allowed amount of Claims in Classes 4A and 11-17 to the extent provided in the Plan and the Litigation Facility Agreement. To the extent any such obligations are paid directly by the Reorganized Dow Corning, as specified in the Funding Payment Agreement and the Plan, such amount(s) shall be offset against the amounts to be paid by the Reorganized Dow Corning to the Settlement Facility, as provided in the Funding Payment Agreement. The Claimants’ Advisory Committee must consent to the settlement of any Claim in Classes 11, 13, 14, 15, or 17 that is channeled to the Litigation Facility for resolution and such consent shall not unreasonably be withheld.

Settlement Fund. All monies paid to the Settlement Facility under the terms of the Funding Payment Agreement, and all earnings thereon, if any, except the Litigation Fund, shall be defined as the “Settlement Fund.” The Settlement Fund shall be reserved for the resolution of Settling Personal Injury Claims and all Other Claims not subject to the Litigation Fund and all costs and administrative expenses of the Settlement Facility (not including costs and expenses of the Litigation Facility) and shall not be used or accessible for any other reason. Specifically, the Settlement Fund shall be used for payment of the Allowed amount of Claims of Settling Claimants in Classes 5-10, 6A, 6B, 6C, 6D and, to the extent provided in the Litigation Facility Agreement, Litigated Shareholder Claims, and for the Allowed amount of obligations described at Sections Section 6.16.5 and 6.16.6 of the Plan, and for payment of the Allowed amount of Claims in Classes 4A and 11-17 to the extent provided in the Plan and the Litigation Facility Agreement. To the extent any such obligations are paid directly by the Reorganized Dow Corning, as specified in the Funding Payment Agreement and the Plan, such amount(s) shall be offset against the amounts to be paid by the Reorganized Dow Corning to the Settlement Facility, as provided in the Funding Payment Agreement. The Claimants’ Advisory Committee must consent to the settlement of any Claim in Classes 11, 13, 14, 15, or 17 that is channeled to the Litigation Facility for resolution and such consent shall not unreasonably be withheld.