Designated Settlement Fund definition

Designated Settlement Fund means the non-grantor trust portion of the settlement fund established for claimants against the Company which filed a petition for reorganization under Chapter 11 of Title 11, United States Code on August 26, 1982, pursuant to Section 1807(a)(7) (C) (i) of the Tax Reform Act of 1986.
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Designated Settlement Fund means the non-grantor trust portion of the settlement fund established for claimants against the Company which filed a petition for reorganization under Chapter 11 of Title 11, United States Code on August 26, 1982, pursuant to Section 1807(a)(7)(C)(i) of the Tax Reform Act of 1986.
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Designated Settlement Fund means the non-grantor trust portion of the settlement fund established pursuant to Section l807(a)(7) (C) (i) of the Tax Reform Act of 1986 for claimants against the Company, which filed a petition for reorganization under Chapter 11 of Title 11, United States Code on August 26, 1982. "Escrow Agreement" shall have the meaning set forth in Section 3.3 hereof. "Final Order" means (a) a judgment, order or other decree issued and entered by the Court or by any state or other federal court or other tribunal located in one of the states, territories or possessions of the United States or the District of Columbia, which judgment, order or decree (x) has not been reversed or stayed and as to which the time to appeal has expired and as to which no appeal or petition for review, rehearing or certiorari is pending or (y) with respect to which any appeal has been finally decided and no further appeal or petition for certiorari can be taken or granted; or (b) stipulation or other agreement entered into which has the effect of any such judgment, order or other decree. "Futures Representative" shall mean Xxxxxx Xxxxxx Xxxxx, the successor to the Legal Representative of the Future Claimants against the Trust appointed pursuant to the Second Amended and Restated Plan of Reorganization of the Company or any of his successors in such capacity. "Governmental Agency" shall mean any domestic, foreign, supranational, national, federal, state, regional or local government and any department, bureau, agency, authority, commission, board, court, tribunal, or other legislative, executive, judicial, regulatory or administrative body or instrumentality of any such government or any official empowered to act on behalf of any of the foregoing, or any arbitral tribunal acting within the proper scope of its jurisdiction. "Indemnified Parties" shall have the meaning set forth in Section 2.2 hereof. "Merger" shall mean the merger contemplated by the Merger Agreement. "Merger Agreement" shall mean the Agreement and Plan of Merger, dated as of the date hereof, among Parent, Acquisition Subsidiary and the Company. "Offer" shall have the meaning set forth in the Merger Agreement. "Order" shall have the meaning set forth in Section 6.1(c). "Parent" means Berkshire Hathaway Inc., a Delaware corporation. "SCB" shall mean the Selected Counsel for the Beneficiaries appointed pursuant to the Second Amended and Restated Plan of Reorganization of the Company. "Statutory Tax Provision" shall have the me...
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Examples of Designated Settlement Fund in a sentence

  • Such payment shall be treated as a payment to a Qualified or Designated Settlement Fund under I.R.C. § 468B and the regulations or proposed regulations promulgated thereunder (including without limitation Treasury Reg.

  • For Federal income tax purposes, JM had elected for the qualified assets of the Trust to be taxed as a Designated Settlement Fund (DSF).

  • Following the Effective Time (as defined in the Merger Agreement), the Trust shall transfer to the Designated Settlement Fund all assets received by the grantor trust portion of the Trust that would constitute Qualified Payments (as defined in section 468B(d) of the Code) immediately following receipt of such assets.

  • Except as provided in Section 2.2(b), from and after the Closing, the Company shall have no further obligation to indemnify and pay the Trust in respect of any Taxes, non-income taxes of the Designated Settlement Fund, costs, expenses, losses and damages (including fees and expenses of counsel and other litigation and settlement costs), regardless of when incurred, in connection with any Taxes and non-income taxes of the Designated Settlement Fund, imposed upon the Trust at any time.

  • Except as provided in Section 2.2(b), from and after the Closing, the Company shall have no further obligation to indemnify and pay the Trust, regardless of when incurred, in respect of any Taxes, non-income taxes of the Designated Settlement Fund, costs, expenses, losses and damages (including fees and expenses of counsel and other litigation and settlement costs), in connection with any Taxes and non-income taxes of the Designated Settlement Fund, imposed upon the Trust at any time.

  • The Trust shall transfer to the Designated Settlement Fund portion of the Trust all assets received by the grantor trust portion of the Trust that would constitute Qualified Payments (as defined in Section 468B(d) of the Code), including any cash consideration received by the Trust pursuant to the Offer or the Stockholder Agreement, immediately following receipt of such assets.

  • The Plan Trust may satisfy the requirements of a Designated Settlement Fund under§ 468B of the Tax Code or a Qualified Settlement Fund under Regulation 1.468B-1 of the Treasury Regulations.

  • Accordingly, an attendant purpose of the Trust is to qualify as a non-reversionary Designated Settlement Fund pursuant to Section 468 of the Internal Revenue Code.

  • Such payment shall be treated as a payment to a Qualified or Designated Settlement Fund under I.R.C. § 468B and the regulations or proposed regulationspromulgated thereunder (including without limitation Treasury Reg.

  • TAXES means all federal, state, local or foreign taxes, assessments, duties, levies or similar charges of any kind imposed on the income of the Designated Settlement Fund (including, without limitation, any Tax imposed pursuant to the Statutory Tax Provision) and including any interest, fines, penalties, assessments or additions to Tax resulting from, attributable to or incurred in connection with any such Tax or any contest or dispute thereof.

Related to Designated Settlement Fund

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • Net Settlement Fund means the Settlement Fund less: (i) Court-awarded attorneys’ fees and expenses; (ii) Notice and Administration Expenses; (iii) Taxes; and (iv) any other fees or expenses approved by the Court.

  • Purchase Contract Settlement Fund has the meaning specified in Section 5.5.

  • Qualified Settlement Fund or “Settlement Fund” means the interest-bearing, settlement fund account to be established and maintained by the Escrow Agent in accordance with Article 5 herein and referred to as the Qualified Settlement Fund (within the meaning of Treas. Reg. § 1.468B-1).

  • Settlement Fund means the Settlement Amount plus any and all interest earned thereon.

  • Settlement Funds means Standard Settlement Funds and Maximizing Settlement Funds.

  • Structured settlement annuity means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant.

  • Gross Settlement Amount means $2,300,000 which is the total amount Defendant agrees to pay under the Settlement. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, LWDA PAGA Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, Class Representative Service Payment, and Administration Expenses Payment.

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • Viatical settlement broker means a person, including a life insurance producer as provided for in section 508E.3, who, working exclusively on behalf of a viator and for a fee, commission, or other valuable consideration, offers or attempts to negotiate viatical settlement contracts between a viator and one or more viatical settlement providers or one or more viatical settlement brokers. Notwithstanding the manner in which the viatical settlement broker is compensated, a viatical settlement broker is deemed to represent only the viator, and not the insurer or the viatical settlement provider, and owes a fiduciary duty to the viator to act according to the viator’s instructions and in the best interest of the viator. “Viatical settlement broker” does not include an attorney, certified public accountant, or a financial planner accredited by a nationally recognized accreditation agency who is retained to represent the viator and whose compensation is not paid directly or indirectly by the viatical settlement provider or purchaser.

  • Net Share Settlement Amount For any Settlement Date, an amount equal to the product of (i) the number of Warrants exercised or deemed exercised on the relevant Exercise Date, (ii) the Strike Price Differential for the relevant Valuation Date and (iii) the Warrant Entitlement.

  • Cash Settlement shall have the meaning specified in Section 14.02(a).

  • Cash Settlement Amount means the “Cash Settlement Amount” as determined by the Calculation Agent in accordance with Paragraph 6.

  • Individual Settlement Payment means the amount payable from the Net

  • CCASS Settlement Day means the term “Settlement Day” as defined in the General Rules of CCASS.

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • Structured settlement payment rights means rights to receive periodic payments under a structured settlement, whether from the structured settlement obligor or the annuity issuer, where:

  • Physical Settlement Amount For any Settlement Date for which Physical Settlement is applicable, an amount in cash equal to the product of (a) the Forward Price in effect on the relevant Settlement Date multiplied by (b) the Settlement Shares for such Settlement Date.

  • Net Share Settlement On each Settlement Date, Issuer shall deliver to Dealer a number of Shares equal to the Number of Shares to be Delivered for such Settlement Date to the account specified by Dealer and pay cash to Dealer in lieu of any fractional shares valued at the Relevant Price on the Valuation Date corresponding to such Settlement Date. Number of Shares to be Delivered: In respect of any Exercise Date, subject to the last sentence of Section 9.5 of the Equity Definitions, the product of (i) the number of Warrants exercised or deemed exercised on such Exercise Date, (ii) the Warrant Entitlement and (iii)(A) the excess, if any, of the VWAP Price on the Valuation Date occurring on such Exercise Date over the Strike Price, divided by (B) such VWAP Price. The Number of Shares to be Delivered shall be delivered by Issuer to Dealer no later than 4:00 P.M. (local time in New York City) on the relevant Settlement Date.

  • Purchase Contract Settlement Date means _____________.

  • Cash Settlement Date means, for each Financially Settled Futures Transaction, the Business Day determined by Exchange from time to time in accordance with industry practice for such Transaction, as posted on Exchange’s Website not less than one month prior to the occurrence of such date, other than Invoices issued as a result of a Contracting Party’s Default or under the Close- out Procedure which amounts require payment immediately;

  • Investment Funds means all monies and financial resources available for investment by the Authority, other than proceeds of bonds issued by the Authority.

  • Call Settlement Date means the fifth Business Day following the last Index Business Day in the Call Measurement Period.

  • Share Settlement means a number of shares of Class A Common Stock (together with any Corresponding Rights) equal to the number of Redeemed Units.

  • Payment Fund has the meaning set forth in Section 2.02(a).

  • Early Settlement Amount has the meaning specified in Section 5.9(a).