Title to Liquidating Trust Assets Sample Clauses

Title to Liquidating Trust Assets. (a) The transfer of the Liquidating Trust Assets to the Liquidating Trust shall be made by the Debtors for the benefit and on behalf of the Beneficiaries. In this regard, the Liquidating Trust Assets will be treated for tax purposes as being transferred by the Debtors to Beneficiaries, and then by such holders to the Liquidating Trust in exchange for interests in the Liquidating Trust (the "Liquidating Trust Interests") for the benefit of such Beneficiaries in accordance with the Plan. Upon the transfer of the Liquidating Trust Assets, the Liquidating Trustee shall succeed to all of the Debtors' right, title and interest in the Liquidating Trust Assets and the Debtors will have no further interest in or with respect to the Liquidating Trust Assets or this Liquidating Trust.
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Title to Liquidating Trust Assets. The transfer of the Liquidating Trust Assets to the Liquidating Trustee shall be made for the ratable benefit of the Liquidating Trust Beneficiaries to the extent such Liquidating Trust Beneficiaries are entitled to Liquidating Trust Interests under the Plan. In this regard, subject to the discussion in Section 6.1 below, the Liquidating Trust Assets will be treated for tax purposes as being (i) a deemed transfer to the Liquidating Trust Beneficiaries in partial satisfaction of Allowed Claims, to be held by the Debtors on their behalf; and (ii) immediately thereafter, a deemed transfer to the Liquidating Trustee in exchange for Liquidating Trust Interests for the ratable benefit of the Liquidating Trust Beneficiaries, in accordance with the Plan. Upon the transfer of the Liquidating Trust Assets, the Liquidating Trustee shall succeed to all of each of the Debtors’ right, title and interest in and to the Liquidating Trust Assets and the Debtors will have no further interest in or with respect to the Liquidating Trust Assets or the Liquidating Trust.
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Title to Liquidating Trust Assets. Subject to Sections 2.5(a) and 9.2(a), upon the transfer of Available Assets, the Liquidating Trust shall suc ceed to all of the Debtors’ right, title and interest in the Available Assets, and the Debtors will have no further rights or interest in or with respect to the Available Assets, nor shall they have any rights or interest in any other Liquidating Trust Assets or the Liquidating Trust.
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Title to Liquidating Trust Assets. The transfer, assignment and delivery of the Transferred Assets to the Trustees to be held in the Liquidating Trust shall be made by the Company for the benefit and on behalf of the Beneficiaries. In this regard, the Transferred Assets will be treated for tax purposes as being transferred by the Company to the Initial Beneficiaries, and then by such Initial Beneficiaries to the Liquidating Trust in exchange for Liquidating Trust Interests for the benefit of such Initial Beneficiaries in accordance with the Plan. Upon the transfer, assignment and delivery of the Transferred Assets, the Trustees shall succeed to all of the Company’s right, title and interest in the Transferred Assets and the Company will have no further interest in or with respect to the Transferred Assets or the Liquidating Trust Assets or this Liquidating Trust.
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Title to Liquidating Trust Assets. Upon the transfer of Liquidation Trust Assets, the Liquidation Trust shall succeed to all of the Debtors’ right, title and interest in the Liquidation Trust Assets, and the Debtors will have no further rights or interest in or with respect to the Liquidation Trust Assets, nor shall they have any rights or interest in any other Liquidation Trust Assets or the Liquidation Trust.
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Title to Liquidating Trust Assets. (a) The Liquidating Trust Assets shall be transferred to the Liquidating Trust and/or the Reserves on the Effective Date. As provided in the Plan, additional assets may subsequently become Liquidating Trust Assets which shall be transferred to the Liquidating Trust. Such transfers may be accomplished in whole or in part by the transfer to the Liquidating Trust of the stock of the Reorganized Debtors.
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Related to Title to Liquidating Trust Assets

  • Title to Owner Trust Estate Legal title to all the Owner Trust Estate shall be vested at all times in the Securitization Trust as a separate legal entity except where applicable law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee and/or a separate trustee, as the case may be.

  • Title to the Trust Estate Legal title to all the Trust Estate shall be vested at all times in the Issuer as a separate legal entity.

  • No Legal Title to Owner Trust Estate in Certificateholders The Certificateholders shall not have legal title to any part of the Owner Trust Estate. The Certificateholders shall be entitled to receive distributions with respect to their undivided ownership interest therein only in accordance with Articles V and IX. No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholders to and in their ownership interest in the Owner Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Owner Trust Estate.

  • No Legal Title to Owner Trust Estate The Certificateholders shall not have legal title to any part of the Owner Trust Estate solely by virtue of their status as a Certificateholder. The Certificateholders shall be entitled to receive distributions with respect to their undivided beneficial interest therein only in accordance with Articles V and VIII. No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholders to and in their ownership interest in the Owner Trust Estate shall operate to terminate this Trust Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Owner Trust Estate.

  • Trust Assets To the extent permitted by applicable Laws and in accordance with the Serviced Corporate Trust Contracts for Serviced Appointments, Xxxxx Bank hereby appoints the Bank Assets Purchaser and Xxxxx Trust Company hereby appoints the Delaware Trust Assets Purchaser (or the Bank Assets Purchaser, if required by Section 3.3) as custodial agent to receive, hold, deposit, invest and transfer Trust Assets related to the Serviced Appointments of the Xxxxx Bank and Xxxxx Trust Company, respectively. The Trust Assets shall be transferred after the Closing in accordance with the terms of the applicable Serviced Corporate Trust Contract. Each Purchaser represents and warrants to the applicable Seller that the accounts to which the Trust Assets will be transferred satisfy all eligible accounts requirements under the terms of the applicable Serviced Corporate Trust Contract and applicable Law.

  • No Legal Title to Trust Estate in Certificateholders The Certificateholders shall not have legal title to any part of the Trust Estate. A Certificateholder shall be entitled to receive distributions with respect to its undivided Percentage Interest therein only in accordance with Articles V and IX. No transfer, by operation of law or otherwise, of any right, title or interest of a Certificateholder to and in its ownership interest in the Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Trust Estate.

  • Investment of Trust Assets The Trustee shall engage the Investment Manager to invest and reinvest the principal and income of the Trust Assets in those investments that are reasonably calculated to preserve the principal value, taking into account the need for the safety and liquidity of principal as may be required to fund Eligible Mitigation Actions and Trust Administration Costs.

  • Title to Trust Property Legal title to all the Owner Trust Estate shall be vested at all times in the Trust as a separate legal entity except where applicable law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee and/or a separate trustee, as the case may be.

  • Title to Property of the Trust Except as provided in Section 3.8 with respect to the Debentures and the Property Account or as otherwise provided in this Trust Agreement, legal title to all assets of the Trust shall be vested in the Trust. The Holders shall not have legal title to any part of the assets of the Trust, but shall have an undivided beneficial ownership interest in the assets of the Trust.

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