Excess Recoveries definition

Excess Recoveries means all recoveries of the Creditor Trust and the Litigation Trust, in the aggregate (net of the Creditor Representative’s and Trusts’ costs and expenses), after any distributions made to the Reorganized Debtors from the Litigation Trust (which, after the Excess Recovery Trigger Date, will be one-third of all Assigned Preference Claims instead of 10%) that are in excess of the amount required to pay to the holders of the Allowed General Unsecured Claims their Allowed Base Claim Amounts, in Cash or Class A Shares, after giving effect to other distributions made to holders of Allowed General Unsecured Claims under the Plan, the Lender Litigation Settlement or pursuant to distributions from the Creditor Trust or Litigation Trust.

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Excess Recoveries means, with respect to any Collection Period, all Recoveries received during such Collection Period in excess of the Default Amount for such Collection Period (calculated without deducting such Recoveries in calculating the Default Amount for such Collection Period).

Excess Recoveries means for any Monthly Period, the excess of (a) the aggregate amount of Recoveries received in such Monthly Period over (b) the aggregate amount of Principal Receivables (other than Ineligible Receivables) which became Defaulted Receivables in such Monthly Period.

Examples of Excess Recoveries in a sentence

Following the Excess Recovery Trigger Date, holders of Senior Secured Claims, Bridge Loan Facility Claims and, solely to the extent of their Post-Effective Date Interest Amount, holders of Allowed General Unsecured Claims and 2015 Notes Claims shall be entitled to share in Excess Recoveries.
Thereafter, Excess Recoveries shall be paid 100% to holders of Bridge Loan Claims.
Thereafter, until the holders of Senior Secured Claims (taking into account all distributions previously received by them) are paid in full, Excess Recoveries shall be paid 50% to the holders of Deficiency Claims on account of the Senior Secured Claims and 50% to the holders of Deficiency Claims on account of the Bridge Loan Claims.
The U.S. federal income tax treatment of the right of holders of Allowed Senior Secured Claims and Allowed Bridge Loan Claims to their share of any Excess Recoveries is unclear.
Finance Charge Collections, Principal Collections, the Default Amount and the Servicing Fee allocated to Series 2013-1 pursuant to Article V of the Indenture and Excess Recoveries shall be allocated and distributed as set forth in this Article IV.
Notwithstanding anything to the contrary, the Deficiency Claims of the Senior Secured Lenders and the Bridge Lenders against Non-Schedule III Obligor Debtors may only be satisfied out of the Excess Recoveries (if at all).
Finance Charge Collections, Principal Collections, the Default Amount and the Servicing Fee allocated to Series 20[_]-[_] pursuant to Article V of the Indenture and Excess Recoveries shall be allocated and distributed as set forth in this Article IV.
Unsecured Claims and 2015 Notes Claims, and, third, for distribution subject to Sections 5.7 and 5.8 hereof with respect to any amounts that constitute Excess Recoveries.
Finance Charge Collections, Principal Collections, the Default Amount and the Servicing Fee allocated to Series 201[_]-[_] pursuant to Article V of the Indenture and Excess Recoveries shall be allocated and distributed as set forth in this Article IV.
The Litigation Trust will be authorized under the Revised Plan or an Alternative Plan to prosecute the Non-Settling Defendant Claims for the benefit of holders of Allowed General Unsecured Claims, who shall receive a Pro Rata share of any net recoveries on Non-Settling Defendant Claims (subject to Section 3.6 hereof with respect to any Excess Recoveries).

More Definitions of Excess Recoveries

Excess Recoveries has the meaning specified in the Servicing Agreement.

Excess Recoveries means Excess Available Cash, Excess Senior Notes Amount, Excess New OCD Common Stock and Excess Litigation Trust Recoveries.

Excess Recoveries means, with respect to any Monthly Period, an amount equal to the product of (a) the Series 20[_]-[_] Floating Allocation Percentage and (b) the aggregate amount of Excess Recoveries with respect to such Monthly Period.

Excess Recoveries means all recoveries of the Creditor Trust and the Litigation Trust, in the aggregate (net of the Creditor Representative’s and Trusts’ costs and expenses), after any distributions made to the Reorganized Debtors from the Litigation Trust pursuant to Section 3.3 (which, after the Excess Recovery Trigger Date, will be one-third of all Assigned Preference Claims instead of 10%) that are in excess of the amount required to pay to the holders of the Allowed General Unsecured Claims their allowed Base Claim Amounts, in cash or Class A Shares (as described in Section 3.2 hereof), after giving effect to other distributions made to holders of Allowed General Unsecured Claims under the Revised Plan or an Alternative Plan, this Settlement Agreement or pursuant to distributions from the Creditor Trust or Litigation Trust, or from a chapter 7 trustee in the event the Bankruptcy Case is converted into a case or cases under chapter 7 of the Bankruptcy Code.

Excess Recoveries means Recoveries in excess of the amount of Senior Losses.