Distribution Trust Fund definition

Distribution Trust Fund means the $59,843.58 remaining cash proceeds from the sale of the wave.com domain name to Chime, Inc. after payment of chapter 7 professional fees and the Cash Consideration less (i) any amounts paid by the Debtor on the Effective Date and (ii) any Cash reserved from the Cash Consideration on account of the Administrative Claims Reserve.
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Distribution Trust Fund means the Cash Consideration less any amounts paid by the Debtor on the Effective Date.
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Distribution Trust Fund means Consideration to be funded to the Distribution Trust Account after payment of certain obligations on the Effective Date, including the Allowed DIP Claim and obligations under 6.4(e) of the Plan.
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Examples of Distribution Trust Fund in a sentence

  • On the Effective Date, pursuant to the Settlement Agreement and Settlement Order, Apollo and KKR shall carve out of the proceeds of their collateral and the Plan Investor will transfer, grant, assign, convey, set over, and deliver to the Creditor Trustee, for the benefit of the Creditor Distribution Trust, the Creditor Distribution Trust Fund free and clear of all Liens, Claims, encumbrances or interests of any kind in such property.

  • The Creditor Distribution Trust Fund will be used to pay all liabilities, costs and expenses of the Creditor Distribution Trust, including compensation then due and payable to the Creditor Trustee, his agents, representatives, the Trust Professionals and employees and all costs, expenses, and liabilities incurred by the Creditor Trust in connection with the performance of the Creditor Trustee’s duties and the Creditor Distribution Trust Functions.

  • Notwithstanding this Section 9.2, any amendments to this Agreement shall not be inconsistent with the Plan or the purpose and intention of the Creditor Distribution Trust to distribute in an expeditious but orderly manner the Creditor Distribution Trust Fund in accordance with Treasury Regulations Section 301.7701-4(d) this Agreement, the Settlement Agreement, and the Settlement Order.

  • The Creditor Trustee shall have all the powers and authority set forth herein and in the Settlement Agreement, Settlement Order, and this Agreement necessary to effect the claims reconciliation process and distribution of all Creditor Distribution Trust Fund and proceeds thereof.

  • No surviving spouse, heir, or devisee of any deceased Beneficiary shall have any right of dower, homestead or inheritance, or of partition, or any other right, statutory or otherwise, in the Creditor Distribution Trust Fund, but the whole title to all the Creditor Distribution Trust Fund shall be vested in the Creditor Trustee and the sole interest of the Beneficiaries shall be the rights and benefits provided to such persons under this Agreement and the Settlement Order.

  • Any successor Creditor Trustee shall be entitled to accept as conclusive any final accounting and statement of the Creditor Distribution Trust Fund furnished to such successor Creditor Trustee by such predecessor Creditor Trustee and shall further be responsible only for those Creditor Distribution Trust Fund included in such statement.

  • A Beneficiary shall have no title to, or any right to possess, manage or control, the Creditor Distribution Trust Fund, or any portion thereof or interest therein, except as expressly provided herein.

  • For United States federal and applicable state income tax purposes, the transfer of the Creditor Distribution Trust Fund to the Creditor Distribution Trust pursuant to and in accordance with the Settlement Agreement, Settlement Order, and this Agreement shall be treated as a disposition of such assets directly to and for the benefit of the Beneficiaries.

  • The Creditor Trustee shall not be responsible in any manner whatsoever for the correctness of any recitals, statements, representations, or warranties herein or in any documents or instrument evidencing or otherwise constituting a part of the Creditor Distribution Trust Fund.

  • The Creditor Trustee shall be entitled to reimbursement of reasonable and actual out-of-pocket expenses, to be paid monthly from the Creditor Distribution Trust Fund.