Creditor Trust definition

Creditor Trust means the trust established pursuant to Section 5.8 hereof, to which the State Law Avoidance Claims shall be contributed, to hold and to prosecute the State Law Avoidance Claims and to distribute the net proceeds of any recoveries on the State Law Avoidance Claims in accordance with Section 5.8 hereof.

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Creditor Trust means the creditor recovery trust established on the Effective Date in accordance with Article IV.D.2 of the Plan and the Creditor Trust Agreement.

Creditor Trust means a common law grantor trust to be established

Examples of Creditor Trust in a sentence

Such compensation shall be paid out of the Creditor Trust Administrative Expense Reserve or the Creditor Trust Litigation Expense Reserve, as applicable, and shall be consistent with the Creditor Trust Budget.
The affirmative vote of a majority of the Directors present at a meeting shall be the act of the Trust Board except as otherwise required by law or as provided in this Creditor Trust Agreement.
Creditor Trust Address: Ocean Ridge Capital Advisors, LLC, Trustee Attn: ▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇, Managing Member ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Suite 203 A New Rochelle, New York 10801 (▇▇▇) ▇▇▇-▇▇▇▇ (fax) ▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ Copy of all notices to Trust shall also be sent to counsel for the Trust: ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ Federal Tax Identification Number: ▇▇-▇▇▇▇▇▇▇ WCI COMMUNITIES, INC.
All monies and other assets received by the Creditor Trust shall, until distributed or paid over as herein provided, be held in trust for the benefit of the Beneficiaries, but need not be segregated from other Creditor Trust Assets.
The Creditor Trustee must maintain the Creditor Trust’s books and records relating to the Creditor Trust Assets, Beneficiaries, income earned by, expenses paid by, and claims made against the Creditor Trust in the detail and for the period necessary to enable the Creditor Trustee to make full and proper reports.

More Definitions of Creditor Trust

Creditor Trust means a common law trust to be established under the Plan, the Creditor Trust Agreement, and the Confirmation Order for the sole and exclusive benefit of the Beneficiaries. The Creditor Trust will liquidate and distribute the Creditor Trust Assets according to the Creditor Trust Agreement.

Creditor Trust means (i) with respect to Non-Federal Domestic Governmental Channeled Claims, NOAT, (ii) with respect to Tribe Channeled Claims, the Tribe Trust, (iii) with respect to Hospital Channeled Claims, the Hospital Trust, (iv) with respect to Third-Party Payor Channeled Claims, the TPP Trust, (v) with respect to NAS Monitoring Channeled Claims, the NAS Monitoring Trust, (vi) with respect to PI Channeled Claims, the PI Trust and (vii) with respect to Future PI Channeled Claims, the PI Futures Trust.

Creditor Trust means the trust to be established on the Effective Date

Creditor Trust means the trust to be created on the Effective Date in accordance with Section 9 of the Plan and the Creditor Trust Agreement for the benefit of holders of Allowed General Unsecured Claims.

Creditor Trust means the trust to be created on the Effective Date pursuant to the Creditor Trust Agreement and this Plan.

Creditor Trust the statutory trust being created under the Plan of Reorganization pursuant to the Delaware Statutory Trust Act (12 Del. C. section 3801 et seq.) in which certain holders of Claims (as defined in the Plan of Reorganization) against the Debtors will hold a beneficial interest as of the Plan Effective Date.

Creditor Trust means the trust to be formed under the Plan which shall hold the Creditor Trust Assets.