Asbestos PD Trust definition

Asbestos PD Trust means the WRG Asbestos Property Damage Settlement Trust, a Delaware statutory trust, established pursuant to section 524(g) of the Bankruptcy Code and in accordance with the Asbestos PD Trust Agreement.
View Source
Asbestos PD Trust means the trust established in accordance with the Armstrong World Industries, Inc. Asbestos Property Damage Settlement Trust Agreement, substantially in the form of Exhibit "1.21" to the Plan.
View Source

Examples of Asbestos PD Trust in a sentence

  • The Class 7B Initial Payment shall remain segregated from (i) the Class 7A Initial Payment and (ii) any payments made to the Asbestos PD Trust on account of CDN ZAI PD Claims.

  • The Class 7A Initial Payment shall remain segregated from (i) the Class 7B Initial Payment and (ii) any payments made to the Asbestos PD Trust on account of CDN ZAI PD Claims.

  • The Settlors shall have the right to conduct annual audits of the books, records, and claims processing procedures of the PD Trust as set forth more fully in the ZAI TDP and to confirm that the Asbestos PD Trust expenditures have complied with the terms of the Plan, the PD Settlement Agreements, the Final Orders of the Court determining the Allowed Amount of Unresolved Asbestos PD Claims in Class 7A, the Class 7A CMO, the ZAI TDP, and this PD Trust Agreement.

  • The principal officer of the Asbestos PD Trust shall be an Executive Director.

  • To the Asbestos PD Trust or the Trustees: --------------------------------------- --------------------------------------- --------------------------------------- To Reorganized Eagle-Picher: Eagle-Picher Industries, Inc.

  • Such determination shall be made by a majority vote of the Trustees who were not parties to such action, suit, or proceeding, if at least two such Trustees were not parties; otherwise the determination will be made by legal counsel to the Asbestos PD Trust.

  • Compensation for a Trustee's service as an officer or manager of the Asbestos PD Trust or as a consultant to the Asbestos PD Trust shall be in addition to compensation paid pursuant to section 5.5 hereof.

  • The Trustees may, from time to time, create such accounts and reserves within the Asbestos PD Trust estate as they may deem necessary, prudent or useful in order to provide for the payment of expenses and valid Asbestos Property Damage Claims and may, with respect to any such account or reserve, restrict the use of monies therein.

  • For purposes of section 5.5 of this Trust Agreement, a Trustee shall be deemed to have attended a meeting in the event such person spends a substantial portion of the day conferring, by phone or in person, on Asbestos PD Trust matters with Trustees.

  • The property, business and affairs of the Asbestos PD Trust shall be managed by or under the direction of the Trustees.