Liquidating Trust Budget definition

Liquidating Trust Budget means the annual budget of expenses for administering the Liquidating Trust.
Sample 1Sample 2Sample 3
Liquidating Trust Budget has the meaning assigned in Section
Sample 1Sample 2
Liquidating Trust Budget means the budget attached hereto as Schedule 2.
Sample 1Sample 2

Examples of Liquidating Trust Budget in a sentence

  • The Liquidating Trust shall maintain customary insurance coverage, including any appropriate tail coverage, for the protection of the Trustees and Liquidating Trust Management (which coverage shall be primary to any other coverage potentially available to such persons) and may procure insurance coverage for such employees as the Liquidating Trust Board may determine in its discretion, and the cost thereof shall be reflected in the Liquidating Trust Budget.

  • The Liquidating Trust Board shall have the authority to fix by unanimous consent the compensation of the Liquidating Trustees, which may include their expenses, if any, of attendance at meetings of the Liquidating Tru st Board or any committee thereof, which compensation shall be included in the Liquidating Trust Budget.

  • The Liquidating Trust Budget for such Fiscal Year shall not become effective until approved by Majority Consent of the Liquidating Trust Board, and until so approved, the Liquidating Trust Budget for the prior year shall constitute the Liquidating Trust Budget for the subsequent year on an interim basis.

  • The Lender shall make funds available to the Liquidating Trust in the amounts set forth in the Liquidating Trust Budget, which such funds shall be used to pay the costs, fees and other expenses incurred by the Liquidating Trust in the liquidation and distribution of the Liquidating Trust Assets and as necessary to pay obligations owed by the Trust under the Consulting Agreements, in accordance with the Plan and Liquidating Trust Agreement.

  • The Liquidating Trust shall have authority to incur indebtedness in furtherance of its objectives.Subject to the Liquidating Trust Agreement, as soon as practicable after the Effective Date, the Liquidating Trustee shall provide the Liquidating Trust Budget to the trust oversight committee (the “Trust Oversight Committee”) of up to three (3) creditors.

  • The Liquidating Trust Budget shall set forth (on an annual basis) in reasonable detail: (i) the assumptions underlying the projected recoveries and expenses associated with the administration of the Liquidating Trust for the annual budget and the funding of the Administrative Expenses Set Aside in respect thereof, and (ii) the anticipated distributions to the Unitholders.

  • Such compensation shall be paid out of the Administrative Expenses Set Aside, and shall be consistent with the Liquidating Trust Budget.

  • The fees and expenses of Liquidating Trust Agents shall be satisfied out of the Administrative Expenses Set Aside, and shall be consistent with the Liquidating Trust Budget.

  • Except as otherwise ordered by the Bankruptcy Court, the amount of any reasonable fees and expenses incurred by a Person designated by the Liquidating Trust as Disbursing Agent on or after the Effective Date (including taxes) and any reasonable compensation and expense reimbursement claims (including reasonable attorney fees and expenses) made by the Disbursing Agent shall be paid in Cash by the Liquidating Trust pursuant to the Liquidating Trust Budget.

  • Within ten (10) Business Days after receipt of the First Quarter Liquidating Trust Budget, the Liquidating Trust Oversight Committee shall either (i) approve the First Quarter Liquidating Trust Budget, (ii) approve the First Quarter Liquidating Trust Budget with modifications, or (iii) deny the First Quarter Liquidating Trust Budget, and shall provide written notice of such decision to the Liquidating Trustee.


More Definitions of Liquidating Trust Budget

Liquidating Trust Budget means the Liquidating Trust’s operating budget which shall be agreed to by and between the Liquidating Trustee, the Liquidating Trust Committee, PNC, Arch, and Xxxxxxxxxx Xxxxxxx as set forth in section 7.8(B) of this Agreement (to the extent such Liquidating Trust Budget is amended, supplemented, modified or revised following the Effective Date of the Plan). A copy of such initial Liquidating Trust Budget for year one (1) of the Trust is attached hereto as Exhibit A.
Sample 1
Liquidating Trust Budget means the budget for the operation of the Liquidating Trust agreed to by the Debtors, HEP and the Committee, which budget is attached to the Liquidating Trust Agreement as Exhibit B.
Sample 1
Liquidating Trust Budget means the quarterly budget of expenses for administering the Liquidating Trust, which shall be approved by the Liquidating Trust Oversight Committee.
Sample 1
Liquidating Trust Budget means (i) the initial budget for the six (6) month period following the Effective Date, setting forth in reasonable detail the anticipated Liquidating Trust Expenses, together with any amendments or modifications thereto, as prepared by the Debtors and approved by the Trust Oversight Committee, and (ii) any budget for a subsequent six (6) month period, setting forth in reasonable detail the anticipated Liquidating Trust Expenses, together with any amendments or modifications thereto, as prepared by the Liquidating Trustee and approved by the Trust Oversight Committee pursuant to the Liquidating Trust Agreement.
Sample 1
Liquidating Trust Budget means the budget attached as Schedule 2 to the Funding Agreement.
Sample 1

Related to Liquidating Trust Budget

  • Liquidating Trust means the liquidating trust maintained by the Trustee holding the Trust Assets of the Partnership, identified as the "PLM Equipment Growth Fund III Liquidating Trust"; also referred to herein as the "Trust."

  • Liquidating Trust Assets means the assets of a Debtor or Debtor-Controlled Entity to be transferred to a Liquidating Trust as may be determined by the Plan Administrator, which shall be described in a Liquidating Trust Agreement.

  • Liquidating Trust Agreement means an agreement evidencing the terms and provisions governing a Liquidating Trust that shall be entered into prior to the establishment of such Liquidating Trust and pursuant to which a Liquidating Trustee shall manage and administer Liquidating Trust Assets.

  • Liquidating Trustee has the meaning set forth in Section 6.2(a).

  • Liquidation Trust means the trust created pursuant to the Liquidation Trust Agreement on the Effective Date in accordance with the Plan, the Confirmation Order and the Liquidation Trust Agreement.

  • Liquidation Trust Agreement means the Liquidation Trust Agreement to be dated as of the Effective Date establishing the terms and conditions of the Liquidation Trust, substantially in the form attached hereto as Exhibit B.

  • Liquidation Trustee means the trustee appointed jointly by the Debtors and the Creditors’ Committee, and identified in the Plan Supplement, to serve as the liquidation trustee under the Liquidation Trust Agreement, or any successor appointed in accordance with the terms of the Plan and Liquidation Trust Agreement.

  • Managing Member means CEF Equipment Holding, L.L.C., a Delaware limited liability company or any successor Managing Member under the Issuer Limited Liability Company Agreement.

  • Litigation Trust Agreement means the trust agreement dated as of the Plan Implementation Date, between SFC and the Litigation Trustee, establishing the Litigation Trust.

  • Litigation Trust means the trust to be established on the Plan Implementation Date at the time specified in section 6.4(p) in accordance with the Litigation Trust Agreement pursuant to the laws of a jurisdiction that is acceptable to SFC and the Initial Consenting Noteholders, which trust will acquire the Litigation Trust Claims and will be funded with the Litigation Funding Amount in accordance with the Plan and the Litigation Trust Agreement.

  • Liquidating Events shall have the meaning set forth in Section 13.1.

  • Liquidating Losses means any net loss realized in connection with the actual or hypothetical sale of all or substantially all of the assets of the Partnership (including upon the occurrence of any event of liquidation of the Partnership), including but not limited to net loss realized in connection with an adjustment to the book value of Partnership assets under Section 6.2 hereof.

  • Additional Trust Fund Expense Any expense of the Trust Fund that (i) arises out of a default on a Mortgage Loan or a Serviced Pari Passu Companion Loan or an otherwise unanticipated event, (ii) is not included in the calculation of a Realized Loss, (iii) is not covered by a Servicing Advance or a corresponding collection from the related Borrower, and (iv) is not covered by Default Charges collected on the Mortgage Loans to the extent provided herein.

  • Additional Trust Fund Expenses (i) Special Servicing Fees, Workout Fees and Liquidation Fees, (ii) interest in respect of unreimbursed Advances, (iii) the cost of various default-related or unanticipated Opinions of Counsel required or permitted to be obtained in connection with the servicing of the Mortgage Loans and the administration of the Trust Fund, (iv) unanticipated, non-Mortgage Loan specific expenses of the Trust Fund, including indemnities and expense reimbursements to the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer and the Depositor and federal, state and local taxes, and tax-related expenses, specifically payable out of the Trust Fund, (v) any fees or expenses that are expressly designated as an Additional Trust Fund Expense pursuant to any provision of this Agreement and (vi) any other default-related or unanticipated expense of the Trust Fund that is not covered by a Property Advance and for which there is no corresponding collection from a Mortgagor.

  • PFPC Trust means PFPC Trust Company or a subsidiary or affiliate of PFPC Trust Company.

  • Liquidating Event has the meaning set forth in Section 13.1 hereof.

  • Litigation Trustee means a Person to be determined by SFC and the Initial Consenting Noteholders prior to the Effective Time, with the consent of the Monitor, to serve as trustee of the Litigation Trust pursuant to and in accordance with the terms thereof.

  • Distribution Date" for a Trust shall mean the "Distribution dates" set forth under "Investment Summary--Essential Information" in the Prospectus for the Trust.

  • Administrative fund means that Fund established by Section 6.1 and administered pursuant to Section 6.9.

  • Majority in Interest of the Partners means Partners holding in the aggregate Percentage Interests that are greater than fifty percent (50%) of the aggregate Percentage Interests of all Partners entitled to Consent to or withhold Consent from a proposed action.

  • Disbursing Agent means the Reorganized Debtors or the Entity or Entities selected by the Debtors or the Reorganized Debtors, as applicable, to make or facilitate distributions pursuant to the Plan.

  • Majority in Interest of the Members means Members whose Percentage Interests aggregate to greater than fifty percent of the Percentage Interests of all Members.

  • Managing Owner as used only in this Section 4.7 shall include, in addition to the Managing Owner, any other Covered Person performing services on behalf of the Trust and acting within the scope of the Managing Owner’s authority as set forth in this Trust Agreement.

  • Book Capital Account means, for any Holder at any time, the Book Capital Account of the Holder for such day, determined in accordance with Section 8.1 hereof.

  • self-liquidating paper means any draft, xxxx of exchange, acceptance or obligation which is made, drawn, negotiated or incurred by the Company for the purpose of financing the purchase, processing, manufacturing, shipment, storage or sale of goods, wares or merchandise and which is secured by documents evidencing title to, possession of, or a lien upon, the goods, wares or merchandise or the receivables or proceeds arising from the sale of the goods, wares or merchandise previously constituting the security, provided the security is received by the Trustee simultaneously with the creation of the creditor relationship with the Company arising from the making, drawing, negotiating or incurring of the draft, xxxx of exchange, acceptance or obligation.

  • Master Trust Agreement means the Second Amended and Restated Trust Agreement, dated as of May 8, 2019, between Verizon ABS II LLC, as depositor, and the Master Trust Owner Trustee, as amended, restated, supplemented or modified from time to time.