TREATMENT OF UNCLAIMED OR UNDELIVERABLE DISTRIBUTIONS Sample Clauses

TREATMENT OF UNCLAIMED OR UNDELIVERABLE DISTRIBUTIONS. If any Person entitled to a Distribution under the Plan cannot be located on the Effective Date or any time thereafter, then, subject to the provisions of this section and Article 13, such Distribution shall be set aside and held in an interest-bearing account or fund maintained by the Debtors or the Disbursing Agent (as applicable) on behalf of such Person. If such Person is located within six (6) months after the Effective Date, such Distribution, together with any interest actually earned thereon and proceeds thereof (less the allocable portion of taxes paid by the Debtors on account of such Person), shall be paid or distributed to such Person. If the Person cannot be located within six (6) months after the Effective Date, then (i) such Person shall no longer be a Claimholder or Interestholder and (ii) any Distribution and interest and proceeds thereon allocable to such Person (net of the allocable portion of taxes paid by the Debtors) shall revest in the Debtors free and clear of any Claim to such property by or on behalf of such Person (who shall be deemed to have released such Claim, and such Claim shall be deemed disallowed) and shall be otherwise distributed to the remaining Claimholders or Interestholders in the same Class as the Person who cannot be located, so that such remaining Claimholders or Interestholders receive a Pro Rata Share of such unclaimed or undeliverable Distribution (which Pro Rata Share shall be calculated without reference to, or consideration of, any Claim for which a Distribution is unclaimed, undeliverable, or disallowed).
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TREATMENT OF UNCLAIMED OR UNDELIVERABLE DISTRIBUTIONS. If any Person entitled to Distributions of Trust Assets from the Trust cannot be located on the Effective Date or any time thereafter, then, subject to the provisions of Section 7.5.1 and this Section 7.5.2, such Trust Assets shall be set aside, and, in the case of Cash, held in an interest-bearing account or fund maintained by the Trust on behalf of such Person. Any taxes allocable to such Person as provided in this Section 7.5.2 shall be funded from any Cash held by the Trust in such interest-bearing account or fund. If such Person is located within two years of the Effective Date, such Cash together with any interest actually earned thereon and proceeds thereof (less the allocable portion of taxes paid by the Trust on account of such Person), shall be paid or distributed to such Person. If such Person cannot be located within two years of the Effective Date, (a) such Person shall no longer be deemed to be a Beneficiary, and (b) any Trust Assets and interest and proceeds thereon allocable to such Person, net of the allocable portion of taxes paid by the Trust, shall be part of the Trust Assets free and clear of and from any claim to such property by or on behalf of such Person (who shall be deemed to have released such claim) and shall be distributed to the Beneficiaries as provided in the Plan, with such adjustments as are required to take into account that such person is no longer deemed a Beneficiary.
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Related to TREATMENT OF UNCLAIMED OR UNDELIVERABLE DISTRIBUTIONS

  • In-Service Distributions [X] (1) In-service distributions may be made from any of the Participant's vested Accounts, at any time upon or after the occurrence of the following events (select all applicable): [X] (a) a Participant's attainment of age 59-1/2. [X] (b) due to hardships as defined in Section 5.9 of the Plan. [ ] (2) In-service distributions are not permitted.

  • Requirement and Characterization of Distributions; Distributions to Record Holders (a) Within 45 days following the end of each Quarter commencing with the Quarter ending on September 30, 2005, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 17-607 of the Delaware Act, be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the General Partner. All amounts of Available Cash distributed by the Partnership on any date from any source shall be deemed to be Operating Surplus until the sum of all amounts of Available Cash theretofore distributed by the Partnership to the Partners pursuant to Section 6.4 equals the Operating Surplus from the Closing Date through the close of the immediately preceding Quarter. Any remaining amounts of Available Cash distributed by the Partnership on such date shall, except as otherwise provided in Section 6.5, be deemed to be “Capital Surplus.” All distributions required to be made under this Agreement shall be made subject to Section 17-607 of the Delaware Act.

  • Certain Distributions If the Company elects to:

  • Return of Unclaimed Monies Subject to the requirements of applicable law, any monies deposited with or paid to the Trustee for payment of the principal of, premium, if any, or interest on Notes and not applied but remaining unclaimed by the holders of Notes for two years after the date upon which the principal of, premium, if any, or interest on such Notes, as the case may be, shall have become due and payable, shall be repaid to the Company by the Trustee on demand and all liability of the Trustee shall thereupon cease with respect to such monies; and the holder of any of the Notes shall thereafter look only to the Company for any payment that such holder may be entitled to collect unless an applicable abandoned property law designates another Person.

  • Final Distributions Section 8.01. Sale of Receivables or Certificateholders' Interest pursuant to Section 2.06 or 10.01 of the Agreement and Section 7.01 or 7.02 of this Supplement.

  • Release of Pre-Distribution Claims (a) Except (i) as provided in Section 8.1(b), (ii) as may be otherwise expressly provided in this Agreement or any Ancillary Agreement and (iii) for any matter for which any Party is entitled to indemnification or contribution pursuant to this Article VIII, each Party, for itself and each member of its respective Group, their respective Affiliates and all Persons who at any time prior to the Relevant Time were directors, officers, agents or employees of any member of their Group (in their respective capacities as such), in each case, together with their respective heirs, executors, administrators, successors and assigns, do hereby remise, release and forever discharge the other Parties and the other members of such other Parties’ Group, their respective Affiliates and all Persons who at any time prior to the Relevant Time were shareholders, directors, officers, agents or employees of any member of such other Parties (in their respective capacities as such), in each case, together with their respective heirs, executors, administrators, successors and assigns, from any and all Liabilities whatsoever, whether at Law or in equity (including any right of contribution), whether arising under any Contract, by operation of Law or otherwise, existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have existed on or before the Relevant Time, including in connection with the Plan of Separation and all other activities to implement the Distributions and any of the other transactions contemplated hereunder and under the Ancillary Agreements.

  • Liquidation Distributions All property and all cash in excess of that required to discharge liabilities as provided in Section 12.4(b) shall be distributed to the Partners in accordance with, and to the extent of, the positive balances in their respective Capital Accounts, as determined after taking into account all Capital Account adjustments (other than those made by reason of distributions pursuant to this Section 12.4(c)) for the taxable year of the Partnership during which the liquidation of the Partnership occurs (with such date of occurrence being determined pursuant to Treasury Regulation Section 1.704-1(b)(2)(ii)(g)), and such distribution shall be made by the end of such taxable year (or, if later, within 90 days after said date of such occurrence).

  • Distributions Upon Taxation of Amounts Deferred If, pursuant to Code Section 409A, the Federal Insurance Contributions Act or other state, local or foreign tax, the Executive becomes subject to tax on the amounts deferred hereunder, then the Bank may make a limited distribution to the Executive in a manner that conforms to the requirements of Code section 409A. Any such distribution will decrease the Executive’s benefits distributable under this Agreement.

  • Distribution of Reports to the Trustee and the Company; Advances by the Master Servicer. (See Section 4.04 of the Standard Terms)

  • Distributions to Record Holders (a) Subject to the applicable provisions of the Delaware Act and except as otherwise provided herein, the Manager may, in its sole discretion, at any time and from time to time, declare, make and pay distributions of cash or other assets of the Company to the Members. Subject to the terms of any Share Designation (including, without limitation, the preferential rights, if any, of holders of any other class of Shares of the Company) and of Article XIII, distributions shall be paid to the holders of Common Shares on an equal per-Share basis as of the Record Date selected by the Manager. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to make a distribution to any Member on account of its interest in the Company if such distribution would violate the Delaware Act or other applicable law.

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