Asbestos Trust Expenses definition

Asbestos Trust Expenses means any liabilities, costs, taxes, or expenses of, or imposed upon, or in respect of, the Asbestos Trust or, on and after the Effective Date, the Asbestos Trust Assets (except for payments to Holders of Asbestos Claims on account of such Asbestos Claims), including all costs of administering the Asbestos Trust and carrying out the terms of the Asbestos Trust Agreement and CRP, all to be paid solely from the Asbestos Trust Assets.
Sample 1Sample 2Sample 3
Asbestos Trust Expenses means any costs or expenses of, or imposed upon, assumed by, or in respect of, the Asbestos Trust, including loss expenses or legal expenses, except for payments to holders of Unsecured Asbestos Personal Injury Claims or Demands on account of such Unsecured Asbestos Personal Injury Claims or Demands.
Sample 1Sample 2
Asbestos Trust Expenses means any of the liabilities, costs, or expenses incurred by or on behalf of the Asbestos Trust (other than liabilities to Holders of Asbestos Claims in respect of such Claims), in carrying out the terms of the Asbestos Trust Agreement.
Sample 1Sample 2

Examples of Asbestos Trust Expenses in a sentence

  • On the Effective Date, all of the Debtors’ respective rights, title, and interests in the Asbestos Trust Assets, including $27.5 million in Cash for purposes of Asbestos Trust Expenses, shall be transferred to the Asbestos Trust.

  • The Asbestos Trust shall pay all Asbestos Trust Expenses (including applicable taxes) from the assets of the Asbestos Trust.

  • Except for the$27.5 million payment on the Effective Date for purposes of Asbestos Trust Expenses, neither the Debtors nor the Reorganized Debtors nor the Plan Sponsor shall have any obligation to pay or reimburse any Asbestos Trust Expenses.

  • Payments to Holders of Asbestos Claims and payments of Asbestos Trust Expenses shall be made by the Asbestos Trust in accordance with the Asbestos Trust Agreement and the CRP.

  • The Sealed Air Payment and that portion of the Debtors' Payment consisting of the Parent Common Stock, to the extent necessary, shall first fund the Asbestos PI-SE Class Fund, the Asbestos PD Class Fund and the Asbestos Trust Expenses Fund.

  • The Asbestos Trust shall pay all Asbestos Trust Expenses from the Asbestos Trust Assets.

  • As a condition precedent to confirmation of the Plan, the Court shall have found that the aggregate of the Asbestos PI-SE Class Fund, the Asbestos PD Class Fund, and the Asbestos Trust Expenses Fund is not greater than $1.483 billion.

  • As of the Effective Date, liability for all Asbestos Trust Expenses incurred thereafter shall automatically, and without further act, deed or court order, be assumed by the Asbestos Trust and resolved in accordance with the terms, provisions and procedures of the Asbestos Trust Agreement.

  • Neither the Debtor, the Debtor’s Estate, the Reorganized Debtor, nor any other Protected Party shall have any obligation to pay any Asbestos Trust Expenses or any other liabilities of the Asbestos Trust.

  • Other than with respect to payments to be made on account of Asbestos Claims and Asbestos Trust Expenses from the Asbestos Trust and subject to Section 8.10 herein, the Reorganized Debtor shall make all Distributions required to be made under this Plan as provided under this Article V.


More Definitions of Asbestos Trust Expenses

Asbestos Trust Expenses means any of the liabilities, costs, taxes, or expenses of, or imposed upon, or in respect of the Asbestos Trust (excluding liabilities to holders of Asbestos Claims, but including Protected Party Indemnification Claims) in carrying out the terms of the Asbestos Trust Documents, which expenses, along with any post-Effective Date costs of administration, will be paid prior to any amounts owed to holders of Asbestos Claims.
Sample 1
Asbestos Trust Expenses means any costs or expenses of, or imposed upon, assumed by, or in respect of, the Asbestos Trust in connection with the liquidation and resolution of Unsecured Personal Injury Claims in accordance with the provisions of the Plan and the Asbestos Trust Documents, not including the payments to holders of such Claims.
Sample 1

Related to Asbestos Trust Expenses

  • Administrative Expenses means (i) all administrative and operating costs and expenses incurred by the Partnership, (ii) those administrative costs and expenses of the General Partner, including any salaries or other payments to directors, officers or employees of the General Partner, and any accounting and legal expenses of the General Partner, which expenses, the Partners have agreed, are expenses of the Partnership and not the General Partner, and (iii) to the extent not included in clause (ii) above, REIT Expenses; provided, however, that Administrative Expenses shall not include any administrative costs and expenses incurred by the General Partner that are attributable to Properties or partnership interests in a Subsidiary Partnership that are owned by the General Partner directly.

  • Medical Expenses means those expenses that an Insured Person has necessarily and actually incurred for medical treatment on account of Illness or Accident on the advice of a Medical Practitioner, as long as these are no more than would have been payable if the Insured Person had not been insured and no more than other hospitals or doctors in the same locality would have charged for the same medical treatment.