GUC Settlement definition

GUC Settlement means the settlement of all disputes, claims, and controversies between the Debtors, B. Riley Commercial Capital, LLC, BRF Finance Co., LLC (and any assignees thereof), the Creditors’ Committee, members of the Creditors’ Committee (except for any claims (i) held by the Debtors against Sphere 3D Corp. or (ii) held by Sphere 3D Corp. against the Debtors), and the consideration given or received, as applicable, by each as set forth in the Plan and as summarized in section 5.12 hereof.
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GUC Settlement means a settlement or other resolution of General Unsecured Claims that, if approved by the Court on or prior to the Confirmation Date, would result in payment of all Allowed General Unsecured Claims under the Plan in full, in Cash, on or prior to the Effective Date.
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Examples of GUC Settlement in a sentence

  • For the avoidance of doubt, any portion of the GUC Settlement Total Amount allocable to any Class of General Unsecured Claims that votes to reject the Plan shall be retained by the Reorganized Debtors.

  • On or before the Effective Date, the Unsecured Creditor Trustee shall execute the Unsecured Creditor Trust Agreement and cause the Unsecured Creditor Trust to accept, on behalf of the beneficiaries thereof, (i) the GUC Settlement Cash, (ii) Retained Causes of Action and (iii) claims under and proceeds of D&O Policies.

  • Any unsecured, non-priority Claim against the Debtor or the Estate that is unpaid as of the Effective Date and that arose or is deemed by the Bankruptcy Code or the Bankruptcy Court, as the case may be, to have arisen before the Petition Date and that is not an Administrative Claim, Priority Tax Claim, Secured Claim, Priority Non-Tax Claim, GUC Settlement Claim or Subordinated Claim.

  • The aggregate amount of Cash or proceeds realized from the Assets of the Estate, including, without limitation, the proceeds of any Retained Causes of Action, available for Distribution Pro Rata to Holders of Allowed GUC Settlement Claims, after the payment, or appropriate reserves have been established, in full satisfaction of wind-down costs, Allowed Unclassified Claims, Allowed Secured Claims, Allowed Priority Non-Tax Claims and Allowed General Unsecured Claims.

  • Any Claim or Interest that is subordinated to General Unsecured Claims and GUC Settlement Claims pursuant to section 510 of the Bankruptcy Code or a Final Order of the Bankruptcy Court.

  • For the avoidance of doubt, Second Lien Notes Claims, Intercompany Claims, and, if Whitton opts out of the Subsidiary GUC Settlement Reserve, the Whitton Claim shall not participate in the Subsidiary GUC Settlement Reserve; provided that the Second Lien Notes Claims shall maintain a reversionary interest in the Subsidiary GUC Settlement Reserve solely to the extent the amount of Allowed Subsidiary General Unsecured Claims are less than the amount of the Subsidiary GUC Settlement Reserve.

  • In addition, holders of Allowed Cobalt General Unsecured Claims that are not Second Lien Notes Deficiency Claims shall also receive their Pro Rata share of the Cobalt GUC Settlement Amount.

  • The GUC Settlement Cash shall be retained by the Trustee as a reserve to finance the operations of the Unsecured Creditor Trust.

  • Trade Settlement Distribution 25.27% of (i) the GUC Settlement Amount and (ii) any Retained Preference Action Net Proceeds, which shall be (x) if Class 9(c) votes to accept the Plan, allocated to Holders of Allowed Trade Claims for distribution in accordance with the Plan or (y) if Class 9(c) votes to reject the Plan, retained by the Reorganized Debtors.

  • In the event that the Allowed amount of all General Unsecured Claims is less than$5,000,000, the excess amount of the GUC Settlement Fund will be returned to the Liquidation Trust for purposes of making future Distributions to the Holders of Liquidation Trust Interests.

Related to GUC Settlement

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • PJM Settlement or “PJM Settlement, Inc.” shall mean PJM Settlement, Inc. (or its successor), established by PJM as set forth in Section 3.3 of the Operating Agreement.

  • Cash Settlement shall have the meaning specified in Section 14.02(a).

  • CCASS Settlement Day means the term “Settlement Day” as defined in the General Rules of CCASS.

  • Final Settlement means permanent settlement of the Contractor’s actual allowable costs or expenditures as determined at the time of audit, which shall be completed within three years of the date the year-end cost settlement report was accepted for interim settlement by the State. If the audit is not completed within three years, the interim settlement shall be considered as the final settlement.

  • Combination Settlement shall have the meaning specified in Section 14.02(a).

  • securities settlement system means a securities settlement system (as defined in the CSD Regulation) operated by a central securities depository;

  • Share Settlement means a number of shares of Class A Common Stock equal to the number of Redeemed Units.

  • Master Settlement Agreement means the settlement agreement and related documents entered into on November 23, 1998, by the state and leading United States tobacco product manufacturers.

  • Resettlement means the impact of an involuntary taking of land under the Project, which taking causes affected persons to have their: (i) standard of living adversely affected; or (ii) right, title or interest in any house, land (including premises, agricultural and grazing land) or any other fixed or movable asset acquired or possessed, temporarily or permanently; or (iii) access to productive assets adversely affected, temporarily or permanently; or (iv) business, occupation, work or place of residence or habitat adversely affected, temporarily or permanently.

  • Physical Settlement shall have the meaning specified in Section 14.02(a).

  • Early Settlement has the meaning specified in Section 5.9(a).

  • ASTC Settlement Rules means the operating rules of ASTC and, to the extent that they are applicable, the operating rules of ASX and the operating rules of the Australian Clearing House Pty Limited;

  • TARGET2 Settlement Day means any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System is open.

  • Mandatory Settlement Date means the earliest of:

  • Subscription Settlement Date means the second Valuation Date after the Subscription Trade Date, provided that such Valuation Date is not a Disrupted Day and that such Valuation Date is both a Currency Business Day and a Clearing System Business Day.

  • Day-ahead Settlement Interval means the interval used by settlements, which shall be every one clock hour.

  • Net Share Settlement means the settlement method pursuant to which an exercising Warrantholder shall be entitled to receive from the Company, for each Warrant exercised, a number of shares of Common Stock equal to the Net Share Amount without any payment therefor.

  • Termination Settlement Date means, for any Terminated Obligation, the date customary for settlement, substantially in accordance with the then-current market practice in the principal market for such Terminated Obligation (as determined by the Calculation Agent), of the sale of such Terminated Obligation with the trade date for such sale occurring on the related Termination Trade Date.

  • Retail Settlement Code means the code approved by the Board and in effect at the relevant time, which, among other things, establishes a distributor’s obligations and responsibilities associated with financial settlement among retailers and customers and provides for tracking and facilitating customer transfers among competitive retailers;

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • Call Settlement Date means the fifth Business Day following the last Index Business Day in the Call Measurement Period.

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • Gross Settlement Amount means $240,000 which is the total amount Standard agrees to pay under the Settlement, except as provided in Paragraph 8 below. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees, Class Counsel Expenses, Class Representative Service Payment and the Administrator’s Expenses.

  • Viatical settlement broker means a person, including a life insurance producer as provided for in section 508E.3, who, working exclusively on behalf of a viator and for a fee, commission, or other valuable consideration, offers or attempts to negotiate viatical settlement contracts between a viator and one or more viatical settlement providers or one or more viatical settlement brokers. Notwithstanding the manner in which the viatical settlement broker is compensated, a viatical settlement broker is deemed to represent only the viator, and not the insurer or the viatical settlement provider, and owes a fiduciary duty to the viator to act according to the viator’s instructions and in the best interest of the viator. “Viatical settlement broker” does not include an attorney, certified public accountant, or a financial planner accredited by a nationally recognized accreditation agency who is retained to represent the viator and whose compensation is not paid directly or indirectly by the viatical settlement provider or purchaser.

  • Final Settlement Date has the meaning set forth in Section 2.4(c).