GUC Cash Payment definition
Examples of GUC Cash Payment in a sentence
To the extent an Unsecured Creditor’s general unsecured claim remains contingent, unliquidated or disputed as of the 2014 Payment date, the GUC Cash Payment to which that Unsecured Creditor is entitled shall be paid as soon as practicable following the date such Unsecured Creditor’s claim is allowed.
The GUC Trustee may use Assets (other than the GUC Cash Payment) in the GUC Trustee’s reasonable business judgment to maintain customary insurance coverage, if available, for the protection of the Assets.
Except as otherwise provided in this GUC Trust Agreement, Entities (including any professionals retained by the GUC Trustee in accordance with this GUC Trust Agreement) engaged in transactions with the GUC Trust or the GUC Trustee shall look only to the Assets (exclusive of the GUC Cash Payment) to satisfy any liability incurred in connection with carrying out the terms of this GUC Trust Agreement.
The GUC Trustee shall not make any Distributions to Beneficiaries unless and until the GUC Trust Seed Funding Amount is repaid to the Debtors in accordance with Section 2.8 hereof, provided, however, the GUC Trustee may distribute the GUC Cash Payment to the Beneficiaries prior to the repayment of the GUC Trust Seed Funding Amount.
All Entities dealing with the GUC Trustee, GUC Trust or GUC Trust Oversight Committee shall only look to the Assets (other than the GUC Cash Payment), or any insurance that may cover such claim, to satisfy any liability incurred by the GUC Trustee or GUC Trust Oversight Committee.
After execution of this contract, the Engineer shall not proceed with the work until authorized in writing by the County to proceed, as provided in Article 5 – Work Authorizations.
Entities dealing with the GUC Trustee and GUC Trust Oversight Committee may only look to the Assets (other than the GUC Cash Payment) and any applicable insurance coverage to satisfy any liability incurred by the GUC Trustee or the GUC Trust Oversight Committee to such Entity in carrying out the terms of this GUC Trust Agreement, and neither the GUC Trustee nor the GUC Trust Oversight Committee shall have any personal obligation to satisfy any such liability.
Subject to Section 7.9 of this GUC Trust Agreement, the GUC Trustee may pay the reasonable fees, costs and expenses of such persons out of the Assets (excluding the GUC Cash Payment) in the ordinary course of business and, except as set forth below, without any further notice to any party or action, order or approval of the Bankruptcy Court.
The Reorganized Debtors, or an agent appointed by the Reorganized Debtors, shall serve as disbursing agent with respect to all distributions of the GUC Cash Payment and the Non-Accredited Investor Payment.
The GUC Trust shall repay the GUC Trust Seed Funding Amount without interest to the Debtors or their successors or assigns from either the GUC Trust Seed Funding Amount not used to pay costs and expenses of administering the GUC Trust and/or the Net Proceeds, if any, of the liquidation of the Distributable Assets (other than the GUC Cash Payment which shall be utilized exclusively for the payment of Distributions to Beneficiaries).