Distribution Trust Account definition

Distribution Trust Account means one or more segregated interest bearing accounts established by the Distribution Trust into which shall be deposited (a) the Distribution Trust Seed Money, and (b) the proceeds of the liquidation of all other Distribution Trust Assets, until otherwise distributed pursuant to the Combined Plan and Disclosure Statement.
Sample 1Sample 2Sample 3
Distribution Trust Account means the segregated interest bearing account established by the Distribution Trust into which shall be deposited (a) the Distribution Trust Fund, (b) the proceeds of the Distribution Trust Actions, and (c) the proceeds of the liquidation of all other Distribution Trust Assets.
Sample 1Sample 2Sample 3
Distribution Trust Account means the segregated interest-bearing account established by the Distribution Trust into which shall be deposited the Distribution Trust Assets.
Sample 1Sample 2Sample 3

Examples of Distribution Trust Account in a sentence

  • Each holder of an Allowed Independence Convenience Claim against a Debtor other than FLYi will receive Cash from the Independence Distribution Trust Account in an amount equal to 19.5 percent of the amount of such Allowed Claim (as reduced, if applicable, pursuant to an election by the holder thereof in accordance with Section II.7).

  • Each holder of an Allowed FLYi Convenience Claim against FLYi will receive Cash from the FLYi Distribution Trust Account in an amount equal to 10.3 percent of the amount of such Allowed Claim (as reduced, if applicable, pursuant to an election by the holder thereof in accordance with Section II.6).

  • On or prior to the Effective Date, (i) the FLYi Distribution Trust Account and the Independence Distribution Trust Account will be established to pay Allowed General Unsecured Claims against the FLYi Distribution Trust Assets and Allowed Convertible Note Claims and (ii) the Independence Distribution Trust Account will be established to pay Allowed General Unsecured Claims against the Independence Distribution Trust Assets, respectively.

  • Distribution Trust Available Cash” means the Cash on deposit in the Distribution Trust Account at any time, less the Distribution Trust Operating Reserve.

  • If the Distribution Trustee determines that the balance of any Priority Claims Trust Account is in excess of the amount that will be sufficient to make all payments payable therefrom in accordance with the terms of the Plan and the Distribution Trust Agreement, the Distribution Trustee may transfer such excess to the applicable Distribution Trust Account as provided in the Distribution Trust Agreement.

  • As at the Latest Practicable Date, neither the Company nor any of its subsidiaries is engaged in any litigation or arbitration of material importance and so far as the Directors are aware, no litigation or claim of material importance are pending or threatened by or against the Company or any of its subsidiaries.

  • Any recovery of Cash by the Distribution Trustee on account of such actions will be deposited in the Distribution Trust Account of the applicable Debtor and distributed pursuant to the terms of the Plan and the Distribution Trust Agreement.

  • If the balance of any Priority Claim Trust Accounts is insufficient to make all payments therefrom in accordance with the terms of the Plan and the Distribution Trust Agreement, additional funds may be transferred from the applicable Distribution Trust Account (to the extent Cash remains available therein) to the applicable Priority Claims Trust Account as provided in the Distribution Trust Agreement.


More Definitions of Distribution Trust Account

Distribution Trust Account means one or more segregated interest
Sample 1Sample 2

Related to Distribution Trust Account

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Upper-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Upper-Tier REMIC.

  • Trust Account means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of warrants simultaneously with the closing date of the IPO, will be deposited.

  • Lower-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Lower-Tier REMIC.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Liquidating Trust Assets means the assets of a Debtor or Debtor-Controlled Entity to be transferred to a Liquidating Trust as may be determined by the Plan Administrator, which shall be described in a Liquidating Trust Agreement.

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) may be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1(a)(ii).

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Liquidation Trust means the trust created pursuant to the Liquidation Trust Agreement on the Effective Date in accordance with the Plan, the Confirmation Order and the Liquidation Trust Agreement.

  • Liquidation Trust Agreement means the Liquidation Trust Agreement to be dated as of the Effective Date establishing the terms and conditions of the Liquidation Trust, substantially in the form attached hereto as Exhibit B.

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Upper-Tier REMIC Distribution Account The trust account or accounts created and maintained as a separate trust account (or separate sub-account within the same account as the Lower-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Deutsche Bank Trust Company Americas, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2017-P7, Commercial Mortgage Pass-Through Certificates, Series 2017-P7, Upper-Tier REMIC Distribution Account” and which must be an Eligible Account.

  • Companion Distribution Account shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

  • Distribution box means a watertight component that receives effluent from a septic tank or other treatment unit and distributes effluent via gravity in approximately equal portions to two or more distribution laterals in the soil treatment area.

  • Certificate Account The account maintained by the Trustee in accordance with the provisions of Section 4.04.

  • Liquidating Trust Agreement means an agreement evidencing the terms and provisions governing a Liquidating Trust that shall be entered into prior to the establishment of such Liquidating Trust and pursuant to which a Liquidating Trustee shall manage and administer Liquidating Trust Assets.

  • Liquidating Trust means the liquidating trust maintained by the Trustee holding the Trust Assets of the Partnership, identified as the "PLM Equipment Growth Fund III Liquidating Trust"; also referred to herein as the "Trust."

  • Lower-Tier REMIC Distribution Account The account or accounts created and maintained as a separate account (or separate sub-account within the same account as the Upper-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2020-GC46, Commercial Mortgage Pass-Through Certificates, Series 2020-GC46, and the Uncertificated VRR Interest Owner, Lower-Tier REMIC Distribution Account” and which must be an Eligible Account. The Lower-Tier REMIC Distribution Account shall be an asset of the Lower-Tier REMIC.

  • Excess Interest Distribution Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(e) of this Agreement in trust for the Holders of the Excess Interest Certificates, which (subject to changes in the identities of the Certificate Administrator and/or the Trustee) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Class S – Excess Interest Distribution Account.” Any such account shall be an Eligible Account. The Excess Interest Distribution Account shall be held solely for the benefit of the Holders of the Excess Interest Certificates. The Excess Interest Distribution Account shall not be an asset of any Trust REMIC, but rather shall be an asset of the Grantor Trust.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Liquidation Trustee means the trustee appointed jointly by the Debtors and the Creditors’ Committee, and identified in the Plan Supplement, to serve as the liquidation trustee under the Liquidation Trust Agreement, or any successor appointed in accordance with the terms of the Plan and Liquidation Trust Agreement.

  • Non-Lead Securitization Trust means the Securitization Trust into which any Non-Lead Securitization Note is deposited.

  • Lead Securitization Trust means the Securitization Trust created in connection with the Lead Securitization.