Examples of GUC Account in a sentence
The Plan Administrator shall perform its duties within the parameters of the Plan Administration Budget, including without limitation using the Cash in the Plan Administration Account and the GUC Account consistent therewith and with the terms and obligations of the Plan and the Plan Administration Budget, in each case in order to carry out its duties under the Plan.
On and after the Effective Date, the GUC Account and the Plan Administration Account shall be deemed to be accounts in the name of the Reorganized Debtors without any further action by any Person or any further order of the Bankruptcy Court.
Title to all of the Debtors’ bank accounts, including without limitation the GUC Account and the Plan Administration Account shall vest in the Reorganized Debtors, effective as of the Effective Date, without any further order of the Bankruptcy Court or further action on the part of any Person.
As Disputed General Unsecured Claims are resolved, the Disbursing Agent shall make one or more additional distributions from the GUC Account to holders of Allowed General Unsecured Claims, in each case so as to effectuate such Catch-Up Distributions as are warranted.
On or before the Effective Date, the Debtors shall deposit the GUC Distribution into the Segregated GUC Account, free and clear of any Liens, claims or encumbrances.
On the Effective Date or as soon as practicable thereafter, the Liquidating Trustee shall create the GUC Account into which the Debtor shall transfer all Cash belonging to the Debtor's Estate (but not including the COBRA Account), less a reserve for anticipated Professional Compensation and Reimbursement Claims under section 4.1.3 of the Plan (the "Professional Fee Reserve").
The successor to the Committee shall be the GUC Account Committee appointed by the members of the Committee.
Undeliverable distributions shall remain in the possession of the Reorganized Debtors or in the applicable reserve or Segregated GUC Account, subject to Article VI.D.4(b) hereof, until such time as any such distributions become deliverable.
If the Professional fee reserve is not sufficient to pay all Allowed Professional Compensation and Reimbursement Claims, the Liquidating Trustee shall pay any remaining claims from the GUC Account.
All fees and expenses of administration of the Liquidating Trust Estate and representation of the Liquidating Trustee shall be paid from the Reserve and the GUC Account, as applicable, after approval as specified above.