Class 4 Claims definition
Examples of Class 4 Claims in a sentence
In accordance with the Plan and this Agreement, on, or as soon as practical after, the Effective Date each holder of (i) Allowed Class 3 Claims under the Plan shall receive and hold its Pro Rata share of 25% of the Class B Litigation Trust Interests and (ii) Allowed Class 4 Claims under the Plan shall receive and hold its Pro Rata share of 75% of the Class B Litigation Trust Interests.
All amounts paid or to be paid by Dow Chemical to the eight named ▇▇▇▇▇▇▇▇▇▇ Claimants pursuant to the letter agreement between counsel for such parties dated April 12, 1999, shall constitute Allowed Class 16 Claims, and Dow Chemical shall be reimbursed such amounts in full, together with interest (calculated in the same manner as for Class 4 Claims), by the Claims Administrator from funds maintained by the Settlement Facility.
Holders of Allowed Class 4 Claims are not entitled to vote to accept or reject the Plan.
The total number of Litigation Trust Interests to be recorded on account of Allowed Class 3 Claims and Allowed Class 4 Claims will be adjusted as necessary to account for the rounding provided for herein.
In accordance with the Plan and this Agreement, on, or as soon as practical after, the Effective Date each holder of (i) Allowed Class 3 Claims under the Plan shall receive and hold its Pro Rata share of 50% of the Class A Litigation Trust Interests and (ii) Allowed Class 4 Claims under the Plan shall receive and hold its Pro Rata share of 50% of the Class A Litigation Trust Interests.
Holders of Allowed Class 4 Claims are conclusively presumed to have accepted the Plan under section 1126(f) of the Bankruptcy Code.
Board of Directors There will be an initial board of directors of Reorganized Group (the “New Board”), which will consist of 5 directors, consisting of: (a) the current CEO of Group, (b) the current Executive Vice President of Group, (c) one member appointed by the holders of the Class 4 Claims, (d) one member appointed by the holders of the Class 3 Claims, and (e) one member jointly appointed by the holders of the Class 3 Claims and the Class 4 Claims, after consultation with the Debtors.
Any such Claims that are resolved prior to the Effective Date, or legally determined to be subject to legally binding pre-petition settlement agreements, shall be treated and paid in the same manner as Allowed Class 4 Claims under the Plan.
Whether or not the New AMCE Notes Exchange Option is exercised, the consideration provided for herein shall be in full satisfaction of the Allowed Class 4 Claims for all purposes, and without limiting the foregoing, will be deemed to fully satisfy all claims and rights of the holders of such claims against Harcourt General, Inc.
The Trust Certificates representing the Beneficial Interests of holders of Allowed Class 4 Claims shall be distributed to such holders after all Disputed Class 4 Claims have been resolved as provided in the Plan.