Liquidating Trust Interest definition

Liquidating Trust Interest means a beneficial interest in a Liquidating Trust entitling the Holder thereof to the Distribution from a Liquidating Trust as provided for in the Plan and in the Liquidating Trust Agreement.

Liquidating Trust Interest means a non-certificated beneficial interest in the Liquidating Trust granted to each holder of Existing Stock as of the Existing Stock Record Date that satisfies the Existing Stock Settlement Conditions, which shall entitle such holder to a pro rata share in any distributions from the Liquidating Trust, after any Liquidating Trust Expenses are paid, in accordance with the Liquidating Trust Agreement and Section 5.3 of the Plan.

Liquidating Trust Interest means a non-certificated beneficial interest in the Liquidating Trust that, subject to the terms of the Plan and the Liquidating Trust Agreement, may be granted to Holders of Allowed Non-Opt-Out Sales Representatives Commission Claims and Allowed General Unsecured Claims, which shall entitle such holder to a Pro Rata share in the Liquidating Trust Assets.

Examples of Liquidating Trust Interest in a sentence

• Notwithstanding the above, each holder of an Allowed Claim or Liquidating Trust Interest that is to receive a Distribution shall have the sole and exclusive responsibility for the satisfaction and payment of any tax obligations imposed by any Governmental Unit, including income, withholding and other tax obligations, on account of such Distribution.

• Ownership of a Liquidating Trust Interest in the Liquidating Trust will be evidenced by the recording of such ownership in an electronic book-entry system (the “Book Entry System”) maintained either by the Liquidating Trust or an agent of the Liquidating Trust.

• On any subsequent Distribution Date, each Holder of a Liquidating Trust Interest shall receive a Pro Rata Share of Available Trust Cash.

• The Liquidating Trustee shall, upon the written request of a holder of a Liquidating Trust Interest, provide reasonably adequate documentary evidence of such holder’s Liquidating Trust Interest, as indicated in the Book Entry System.

• By March 31 (if such day is not a Business Day, the first Business Day thereafter) following the end of each calendar year, the Liquidating Trustee shall submit to each holder of a Liquidating Trust Interest appearing on its records during such year a separate statement setting forth the holder's share of items of income, gain, loss, deduction or credit and will instruct all such holders to report such items on their federal income tax returns.

More Definitions of Liquidating Trust Interest

Liquidating Trust Interest means, as to each Beneficiary, the proportionate undivided share of the Liquidating Trust Assets allocated to such Beneficiary, initially determined by the ratio of the aggregate number of Units assigned to a Beneficiary divided by the total number of Units assigned in the aggregate to all Beneficiaries.

Liquidating Trust Interest means a beneficial interest in the Liquidating Trust issued to Holders of Allowed General Unsecured Claims on the Effective Date on account of such Claims.

Liquidating Trust Interest means the non-certificated beneficial

Liquidating Trust Interest means the beneficial interest in the Liquidating Trust allocable to holders of Allowed Class 3 Claims and which represents the right to receive, on a pro rata basis, such holder’s share of the Liquidating Trust Proceeds.

Liquidating Trust Interest means a 1% membership interest in the Debtor that the Debtor shall issue and transfer to the Liquidating Trust pursuant to the Fifth Amended LLC Agreement (as modified pursuant to this Plan) on the Effective Date, solely for the purpose of conferring derivative standing upon the Liquidating Trustee to institute Causes of Action pursuant to the provisions of the Delaware Limited Liability Company Act to the extent the Liquidating Trustee is found not to have direct standing to pursue such claims as estate representative pursuant to section 1123(b) of the Bankruptcy Code.

Liquidating Trust Interest means a beneficial interest in the Liquidating Trust, which interest shall be uncertificated and shall not be assignable or transferable except (i) upon death of a Holder of a Liquidating Trust Interest or by operation of law and (ii) in accordance with the provisions of the Liquidating Trust Agreement.

Liquidating Trust Interest means a beneficial interest in the Liquidating Trust issued to Holders of Allowed General Unsecured Claims.