Examples of Avoidance Action Release in a sentence
Each holder of an Allowed Ongoing Trade Claim that votes to accept the Plan shall receive an Avoidance Action Release.
Each holder of an Allowed General Unsecured Claim that votes to accept the Plan shall receive an Avoidance Action Release.
On the Effective Date, in connection with the Distributions to the holders of Allowed General Unsecured Claims in accordance with section II.C of this Plan, the Debtors, and the Reorganized Debtors shall grant each holder of an Allowed General Unsecured Claim, Allowed Ongoing Trade Claim, and Convenience Class Claim that individually votes to accept the Plan an Avoidance Action Release.
On the Effective Date, in connection with the Distributions to the holders of Allowed General Unsecured Claims in accordance with section II.C of this Plan, the Debtors, and the Reorganized Debtors shall grant each holder of an Allowed General Unsecured Claim that individually votes to accept the Plan an Avoidance Action Release.
Each holder of an Allowed Convenience Class Claim that votes to accept the Plan shall receive an Avoidance Action Release.
Also, on the Effective Date, in connection with the Distributions to holders of Allowed Ongoing Trade Claims in accordance with section II.C of this Plan, the Debtors and the Reorganized Debtors shall grant each holder of an Allowed Ongoing Trade Claim an Avoidance Action Release if, and only if, Class 5 votes to accept the Plan.
Also on the Effective Date, in connection with the Distributions to holders of Allowed Ongoing Trade Claims in accordance with section II.C of the Plan, the Debtors and the Reorganized Debtors shall grant each holder of an Allowed Ongoing Trade Claim an Avoidance Action Release if, and only if, Class 5 votes to accept the Plan.
For the avoidance of doubt, the Litigation Proceedings shall not include any Avoidance Action released pursuant to the Avoidance Action Release.
For the avoidance of doubt, the Liquidation Trust Causes of Action shall not include any Avoidance Action released pursuant to the Avoidance Action Release.
On the other hand, if Class 5 creditors, as a class, vote to reject the Proposed Plan, they will not receive the Avoidance Action Release and they will share in the General Unsecured Claim Distribution afforded to creditors in Class 4.