Liquidating Trust Estate definition

Liquidating Trust Estate means collectively, (i) all Assets transferred to the Liquidating Trust pursuant to this Plan on the Effective Date or at any time thereafter pursuant to this Plan, (ii) such additional or different corpus as the Liquidating Trustee may from time to time acquire and hold in trust pursuant to the Liquidating Trust Agreement, and (iii) all proceeds of all of the foregoing.
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Liquidating Trust Estate means all the property held from time to time by the Trustee under this Agreement of Trust including but not limited to (i) the Assets, (ii) the proceeds (including rents, sales payments and recoveries of claims) from such property held, or from the sale thereof, (iii) dividends and other cash distributions received from any corporation, (iv) interest earned on any monies or securities held by the Trustee under this Agreement of Trust, and (v) any royalties or income of any kind.
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Liquidating Trust Estate means all the property held from time to time by the Liquidating Trustees under this Agreement of Trust including but not limited to (i) proceeds from such property held, or from the sale thereof, (ii) dividends and other cash distributions received from any corporation, (iii) interest earned on any monies or securities held by the Liquidating Trustees under this Agreement of Trust, and (iv) any royalties or income of any kind; provided however that the Liquidating Trust shall not (A) acquire any listed stocks or securities, any readily- marketable assets or any operating assets of a going business, (B) retain cash in excess of a reasonable amount to meet fixed, contingent or unliquidated claims and contingent liabilities, (C) acquire any unlisted stock of a single issuer that represents eighty percent or more of the stock of such issuer, or (D) acquire any general or limited partnership interests.
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Examples of Liquidating Trust Estate in a sentence

  • A Beneficiary shall have no title to, possession of, management of, or control of, the Liquidating Trust Estate except as herein expressly provided.

  • The Liquidating Trustees shall be restricted to the holding and collection of the Liquidating Trust Estate and the payment and distribution thereof for the purpose set forth in this Agreement and to the conservation and protection of the Liquidating Trust Estate and the administration thereof in accordance with the provisions of this Agreement.

  • The Liquidating Trustees may, at such times and for such amounts as they may deem appropriate, transfer, assign, or otherwise dispose of all or any part of the Liquidating Trust Estate as they deem appropriate at public auction or at private sale for cash or securities, or upon credit (either secured or unsecured as the Liquidating Trustees shall determine).

  • In furtherance, and not in limitation, of the foregoing, the Liquidating Trustees shall make a final liquidating distribution to the Beneficiaries out of the remaining Liquidating Trust Estate as soon as practicable following the expiration of the Indemnity Obligations under the Purchase Agreement or, if a claim has arisen thereunder, as soon as practicable following resolution of such claim.

  • The Liquidating Trustees will make continuing efforts to resolve any contingent or unliquidated claims and outstanding contingent liabilities for which the Liquidating Trust may be responsible, dispose of the Liquidating Trust Estate, make timely distributions, and not unduly prolong the duration of the Liquidating Trust.

  • The Liquidating Trustees may, in their discretion, make reasonable provision by reserve or otherwise out of the Liquidating Trust Estate, for such amount as the Liquidating Trustees in good faith may reasonably determine to be necessary or desirable to meet present or future claims and liabilities of the Liquidating Trust, whether fixed or contingent.

  • Should any liability be asserted against the Liquidating Trustees as the transferees of the Liquidating Trust Estate or as a result of the assumption made in this Section, the Liquidating Trustees may use such part of the Liquidating Trust Estate as they deem necessary or appropriate in contesting any such liability or in payment thereof.

  • The Liquidating Trustees shall hold the Liquidating Trust Estate without being obligated to provide for or pay any interest thereon to any Beneficiary, except to the extent of such Beneficiary's share of interest actually earned by the Liquidating Trust after payment of the Liquidating Trust's liabilities and expenses as provided in Section 5.4.

  • No widower, widow, heir, or devisee or any person who may be a Beneficiary shall have any right of dower, homestead, or inheritance, or of partition, or of any other right, statutory or otherwise, in any property whatever forming a part of the Liquidating Trust Estate, but the whole title to all the Liquidating Trust Estate shall be vested in the Liquidating Trustees and the sole interest of the Beneficiaries shall be the rights and benefits given to such persons under this Agreement of Trust.

  • No Liquidating Trustee shall be subject to any personal liability whatsoever to any person in connection with the Liquidating Trust Estate or the affairs of this Liquidating Trust, except for his own misconduct knowingly and intentionally committed in bad faith.


More Definitions of Liquidating Trust Estate

Liquidating Trust Estate means (a) the Liquidating Trust Assets, (b) such additional or different corpus, assets or investments, if any, as the Liquidating Trustee may from time to time acquire and/or hold in trust under the provisions of the Liquidating Trust Agreement and the Plan, and (c) any and all dividends, rents, royalties, income, proceeds and other receipts of, from or attributable to the foregoing, less any assets distributed or expenses incurred by the Liquidating Trustee in accordance with the terms and provisions of the Liquidating Trust Agreement.
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Liquidating Trust Estate means all Assets of the Debtor that will be irrevocably transferred to the Liquidating Trust pursuant to this Plan on the Effective Date.
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Liquidating Trust Estate means all Assets of the Debtor transferred to the Liquidating Trust pursuant to this Plan on the Effective Date or at any time thereafter pursuant to this Plan.
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Related to Liquidating Trust Estate

  • 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 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."

  • Trust Estate means all money, instruments, rights and other property that are subject or intended to be subject to the lien and security interest of this Indenture for the benefit of the Noteholders (including, without limitation, all property and interests Granted to the Indenture Trustee), including all proceeds thereof.

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

  • 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.

  • Owner Trust Estate means all right, title and interest of the Trust in and to the property and rights assigned to the Trust pursuant to Article II of the Sale and Servicing Agreement, all funds on deposit from time to time in the Trust Accounts and all other property of the Trust from time to time, including any rights of the Trust pursuant to the Sale and Servicing Agreement.

  • 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.

  • Indenture Trust Estate means all money, instruments, rights and other property that are subject or intended to be subject to the lien and security interest of the Indenture for the benefit of the Noteholders (including all Collateral Granted to the Indenture Trustee), including all proceeds thereof.

  • 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.

  • Trust Property means as of any particular time any and all property, real or personal, tangible or intangible, which at such time is owned or held by or for the account of the Trust or the Trustees in such capacity.

  • 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.

  • 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.

  • Non-Lead Securitization Trust means the Securitization Trust into which any Non-Lead Securitization Note is deposited.

  • the Trust Fund means the Bond(s) referred to in the First Schedule to the Declaration of Trust and the property from time to time representing the same (and also includes any other property which may become Trust Property as a result of any loan to the Trustees or any addition by way of gift or any accumulation of income).

  • Trust Assets means, with respect to the Appointments and to the extent held, deposited or invested by any Seller for the benefit of others (whether or not constituting all or a portion of the corpus of any trust) as collateral, trust assets or otherwise by the applicable Corporate Trust Contracts or any other applicable legal obligation, (a) all cash on hand or held in bank accounts (including the Deposits) or in money market funds, and (b) all shares, stock, bonds, debentures, notes, mortgages, guarantees, letters of credit, certificates of indebtedness, warrants, treasuries or other securities or financial instruments or property of any type or description.

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

  • Intervening Trust Vehicle with respect to any Securitization Vehicle that is a CDO, shall mean a trust vehicle or entity that holds any Note as collateral securing (in whole or in part) any obligation or security held by such Securitization Vehicle as collateral for the CDO.

  • Lead Securitization Trust means the Securitization Trust created in connection with the Lead Securitization.

  • Trust Funds means any cash comprised of (i) funds specifically and exclusively used for payroll Taxes, payroll and other employee benefit payments to or for the benefit of any Loan Party’s or its Subsidiaries’ employees, (ii) all Taxes required to be collected, remitted or withheld (including, without limitation, federal and state withholding taxes (including the employer’s share thereof) and (iii) any other funds (A) which any Loan Party holds on behalf of another Person and (B) which such Loan Party holds as an escrow or fiduciary for such Person.

  • Delaware Trust Assets Purchaser means the Computershare Delaware Trust Company.

  • Liquidating Agent has the meaning specified in Section 7.2(a).

  • Note A-4 Trust Fund means the trust formed pursuant to the Note A-4 PSA.

  • 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.

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

  • Net estate means the gross estate less those items specified in Iowa Code section 450.12 as deductions in determining the net shares of property of each heir, beneficiary, surviving joint tenant, or transferee. In re Estate of Waddington, 201 N.W.2d 77 (Iowa 1972). The total of all net shares of an estate must equal the total of the net estate.

  • Trust Land ’ means an interest in land the title to which is held in trust by the United States for an Indian or Indian tribe, or by an Indian or Indian tribe subject to a re- striction by the United States against alien- ation;