Asbestos Trust Assets definition

Asbestos Trust Assets means (a) $370 million in Cash contributed to the Asbestos Trust by GST or Garrison on the day immediately preceding the Effective Date; (b) $30 million in Cash contributed to the Asbestos Trust by Coltec on the day immediately preceding the Effective Date; (c) the Deferred Contribution; (d) the Option; (e) any insurance recoveries paid to the Asbestos Trust in accordance with Section 7.3.10 hereof;
View Source
Asbestos Trust Assets means the Asbestos Trust Payment and an Allowed Class 5B Claim in the amount of $1.0 million, as well as the Debtors' rights with respect to, among other things, indemnification, contribution or reimbursement under the insurance policies issued by the Asbestos Insurance Carriers (but not the policies themselves) and all of their rights under any other policies that provide coverage for Asbestos Claims (but not those policies themselves), but only to the extent of such coverage under those policies, which rights shall be transferred to the Asbestos Trustee.
View Source
Asbestos Trust Assets means the Debtors' Payment and the Sealed Air Payment, and any proceeds thereof.
View Source

Examples of Asbestos Trust Assets in a sentence

  • The Asbestos Trust shall be created on the Effective Date of the Plan and shall be funded with the Asbestos Trust Assets, as more fully described in section 6.6 (b) below, including Excess Cash, Asbestos Insurance Rights, Cash proceeds and assigned claims under pre-Confirmation approved settlements and proceeds of sales of Comforce Stock.

  • Sections IV.T. and VIII.B.8 of the Plan provides for the Debtors and the Reorganized Debtors, among others, to execute and deliver such documents to the Asbestos Trust as the Trustee may request to effectuate the transfer and assignment of any Asbestos Trust Assets to the Asbestos Trust.

  • The Trustee shall, at all times, administer the Asbestos Trust and the Asbestos Trust Assets in accordance with the purposes set forth in Section 1.2 above.

  • Pursuant to, and in accordance with, Sections 5.2(a) and 6.3(d) of the Plan, the PI Trust has received the Asbestos Trust Assets (collectively, the “PI Trust Assets”) to fund the PI Trust and settle, discharge or channel all PI Trust Claims.

  • The Trustee, members of the TAC, the FCR and the Additional Indemnitees shall have a first priority lien upon the Asbestos Trust Assets to secure the payment of any amounts due and payable to them pursuant to Section 4.6 above or any undisputed compensation.


More Definitions of Asbestos Trust Assets

Asbestos Trust Assets means, collectively: (a) the Asbestos Trust Contributions; (b) all other assets, rights, and benefits assigned, transferred or conveyed to the Asbestos Trust in connection with this Plan or any Plan Documents; and (c) all proceeds of the foregoing.
View Source
Asbestos Trust Assets means (a) directly or indirectly, the Asbestos Insurance Recoveries; (b) 100 percent of the interests in Reorganized Covington; (c) the Class 4 Payment; (d) the Asbestos Ratable Portion of the SCC Litigation Trust Interests and the Liquidation Trust Interests; and (e) $27.5 million in Cash for purposes of Asbestos Trust Expenses.
View Source
Asbestos Trust Assets means (a) directly or indirectly, the Asbestos Insurance Recoveries; (b) 100 percent of the interests in Reorganized Covington; (c) the Class 4 Payment; (d) the Asbestos Ratable Portion of the Plan Consideration; (dSCC Litigation Trust Interests and the Liquidation Trust Interests; and (e) $27.5 million in Cash for purposes of Asbestos Trust Expenses; and (e) all of Reorganized ASARCO’s rights, title, and interests in and to the Plan Sponsor Promissory Note and the Security Documents.
View Source
Asbestos Trust Assets means, with respect to the Debtors’ Plan, (a) 100 percent of the interests in Reorganized Covington and (b) Cash equal to the amount of the Asbestos Personal Injury Claims and Demands, as estimated by the Bankruptcy Court or agreed to by the Debtors.
View Source
Asbestos Trust Assets means (a) 100 percent of the interests in Reorganized Covington; (b) the Class 4A Pro Rata Share and the Class 4B Pro Rata Share of the Liquidation Trust Interests and the SCC Liquidation Trust Interests; and (c) Cash in an amount ordered by the Bankruptcy Court for payment of the Administrative Expenses of the Asbestos Trust.
View Source
Asbestos Trust Assets means the Asbestos Trust Payment and an Allowed Class 5B Claim in the amount of $1.0 million, as well as the Debtors' rights with respect to, among other things, indemnification, contribution or reimbursement under the insurance policies issued by the
View Source
Asbestos Trust Assets means (a) $370 million in Cash contributed to the Asbestos Trust by GST or Garrison on the Effective Date; (b) $30 million in Cash contributed to the Asbestos Trust by Coltec on the Effective Date; (c) the Deferred Contribution; (d) the Option; (e) any insurance recoveries paid to the Asbestos Trust in accordance with Section 7.3.10 hereof; and (f) following the transfer or vesting of the foregoing to or in the Asbestos Trust, any proceeds thereof and earnings and income thereon.
View Source