Treatment; Election Sample Clauses
Treatment; Election. All Holders of the Remaining Bonds as of the Record Date shall be entitled to elect, on the ballot accepting or rejecting the Plan, one of the following options with respect to all or any portion of its Remaining Bonds:
Option A. The respective Trustees for each issue of Remaining Bonds shall receive on behalf of all Holders electing such treatment, (A) a pro rata portion of any distributions paid by United through the Plan on account of the Remaining Bonds Unsecured Claim held by such Holders; and (B) a pro rata portion of the Pooling Agreement Assets pursuant to the terms of Section 3(d).
Option B. The respective Trustees for each issue of Remaining Bonds shall receive, on behalf of all Holders electing such treatment, (A) approximately $86,570,000 in principal amount of New Securities to be distributed to Holders electing such option (the "Remaining Bonds New Securities") in an amount equal to sixty cents ($.60) in New Securities for every one dollar ($1.00) of principal amount of the Remaining Bonds Unsecured Claim elected by such electing Holders; provided, however, that in no event shall such New Securities, when added to the New Securities to be received by Holders on account of the Series 2001A-1 Unsecured Claim, the Series 2001A-2 Unsecured Claim pursuant to Section 3(a)(ii) and the Series 2000A Unsecured Claim pursuant to Section 3(b)(ii), have a value in excess of the New Securities Value; plus (B) a pro rata portion of any distributions paid by United through the Plan on account of the Remaining Bonds Unsecured Claim after giving affect to application of such New Securities (the "Electing Holders' Remaining Bonds Deficiency Claim"), which distributions under this subclause (B) shall be deposited by United to the Pooling Agreement for reallocation and distribution pursuant to Section 3(d); provided, further, that for any Holder of Remaining Bonds to elect this Option B such Holder must tender to United a money order or cashier's check in an amount sufficient to fund such Holder's pro rata allocation of the Note Purchase upon allocation of the Note Purchase as set forth herein, in return for which such Holder shall receive an aliquot amount of New Securities. In the event the total principal amount of Remaining Bonds elected to be treated in Option B exceeds $144,283,333 (assuming that all other requirements for valid and effective exercise shall have been satisfied) (in such event a "Remaining Bonds Oversubscription") the amount of the Remaining...
Treatment; Election. All Holders of the Series 2001A-1 Bonds and Series 2001A-2 Bonds as of the Record Date shall be entitled to elect, on the ballot accepting or rejecting the Plan, one of the following options with respect to all or any portion of its Series 2001A-1 Bonds and Series 2001A-2 Bonds:
Option A. A pro rata share of cash to be paid to the Trustees of the Series 2001A-1 Bonds and the Series 2001A-2 Bonds on behalf of all Holders of the Series 2001A-1 Bonds and the Series 2001A-2 Bonds electing such treatment, of up to fifty-eight cents ($.58) in cash for every one dollar ($1.00) of principal amount of the Series 2001A-1 Bonds and Series 2001A-2 Bonds, respectively, held by such Holders (the "Cash Amount"). The Cash Amount of such Holders shall be paid from the following sources in the following order of priority until satisfied: (A) first, from a distribution of all Series 2001A Construction Fund Monies to all such Holders of Series 2001A-1 Bonds and Series 2001A-2 Bonds as though there were one Series 2001A Construction Fund for the benefit of all such Holders; (B) second, from a distribution of all Series 2001A Capitalized Interest Fund Monies previously released to the applicable Trustees to all such Holders of Series 2001A-1 Bonds and Series 2001A-2 Bonds as though there were one Series 2001A Capitalized Interest Fund for the benefit of all such Holders; (C) third, from the proceeds of the Note Purchase (hereinafter defined) to all such Holders of Series 2001A-1 Bonds and Series 2001A-2 Bonds as if there were only one series of the 2001A Bonds; and (D) fourth, from a distribution of Pooling Agreement Assets (hereinafter defined) pursuant to Section 3(d) to all such Holders of Series 2001A-1 Bonds and Series 2001A-2 Bonds as if there were only one series of Series 2001A Bonds. Any distributions paid by United through the Plan on account of the Series 2001A-1 Unsecured Claim and the Series 2001A-2 Unsecured Claim held by such Holders after giving effect to the application of the Series 2001A Construction Fund Monies and the Series 2001A Capitalized Interest Fund Monies (the "Option A Series 2001A Deficiency Claim") shall be deposited by United pursuant to written instructions from the Trustees to the Pooling Agreement (hereinafter defined) for potential reallocation and distribution pursuant to Section 3(d).
Option B. The Trustees of the Series 2001A-1 Bonds and the Series 2001A-2 Bonds, on behalf of all Holders of Series 2001A-1 Bonds and Series 2001A-2 Bonds el...