The Muralo Settlement Sample Clauses

The Muralo Settlement. The Debtor incorporates the Muralo Settlement, the terms and conditions of which are set forth in the Muralo Settlement Agreement, a copy of which is attached hereto as Exhibit G. The Muralo Settlement Agreement was previously approved by order of the Bankruptcy Court dated February 17, 2005 and provides, among other things, for Muralo to dismiss two pending causes of action and to release all claims against the Debtor and related parties, including all of its rights under a certain indemnification agreement between Muralo and the Debtor, to assign all of its claims against the Debtor’s insurers and certain other causes of action to the Asbestos Trust, and for payment to Reorganized ARTRA and the Asbestos Trust of the sum of $2,500,000 as follows, subject to offset as provided below and in the Muralo Settlement Agreement: (1) $500,000 to be paid within 5 days from the date on which the Confirmation Order becomes a Final Order; (2) $650,000 to be paid on the first and second anniversaries of the date upon which the Confirmation Order becomes a Final Order; and (3) $350,000 to be paid on the third and fourth anniversaries of the date upon which the Confirmation Order becomes a Final Order. The four payments following the initial payments are payable under the Muralo Note, a copy of which is attached hereto as Exhibit H. The above amounts are subject to setoff to the extent of any necessary and reasonable fees and expenses incurred by Muralo in the Muralo Insurance Adversary Proceeding (as defined in the Muralo Settlement Agreement) and in any other litigation which is not voluntarily stayed, as set forth in the Muralo Settlement Agreement. In addition to the Class 2B Base Distribution, the first $27,500 of the proceeds of the Muralo Settlement will be distributed by Reorganized ARTRA to those holders of Allowed Class 2B Unsecured Claims as consideration for the release of any and all of their Claims against the Muralo Released Parties pursuant to the Plan. In exchange for the foregoing payments and other consideration, the Asbestos Permanent Channeling Injunction, pursuant to section 524(g) of the Bankruptcy Code, and the Supplemental Injunction, pursuant to section 105 of the Bankruptcy Code, will issue in favor of the Muralo Released Parties, and each of the Debtor, Entrade, the Futures Representative, their Affiliates, officers, directors, shareholders and insurers shall release and fully discharge, to the fullest extent permitted by law, each of the Mura...