Liquidation Trust Accounts definition

Liquidation Trust Accounts means the bank accounts to be held in the name of the Liquidation Trustee that are created pursuant to Article IV.A of the Plan.
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Liquidation Trust Accounts means those accounts established and maintained by the Liquidation Trustee to hold the Liquidation Trust Assets.
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Liquidation Trust Accounts has the meaning set forth in the Liquidation Trust Agreement. “Liquidation Trust Administrative Account” has the meaning set forth in the Liquidation Trust Agreement.
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Examples of Liquidation Trust Accounts in a sentence

  • For avoidance of doubt, under no circumstances may any creditor of the Liquidation Trust-Owned Entity access the Liquidation Trust Accounts for satisfaction of any liabilities of the Liquidation Trust-Owned Entity.

  • Upon obtaining an order of the Bankruptcy Court authorizing final distribution and closure of the Chapter 11 Cases, any funds remaining in the Liquidation Trust Accounts shall be distributed in accordance with the Plan, the Liquidation Trust Agreement, and any final decree entered in the Debtors’ Chapter 11 Cases.

  • Such costs, fees and expenses may include, but shall not be limited to, administering the Liquidation Trust Accounts; making Distributions after the Effective Date; prosecuting and settling Causes of Action; and otherwise which the Liquidation Trustee must, in his reasonably discretion, address from and after the Effective Date, in administering the Liquidation Trust.

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  • At all times prior to completion of the WDMA Sale on the Effective Date, ownership of the WDMA Assets shall remain in the Estate and thus the WDMA Sale Proceeds shall be received by the Liquidation Trustee on behalf of the WDMA Debtor and its Estate, which proceeds shall be transferred to him on behalf of the WDMA Debtor and its Estate into the Liquidation Trust and promptly deposited by him in the Liquidation Trust Accounts.

  • The Liquidation Trustee shall have the authority to create additional sub- accounts in the Liquidation Trust Accounts and sub-trusts within the Liquidation Trust, which may have a separate legal existence, but which shall be considered sub-accounts or sub-trusts of the Liquidation Trust.

  • Except with respect to the Excess Proceeds, Debtors, and PHI shall have no rights or interest to the Liquidation Trust Acquired Assets, or to any funds remaining in any of the Liquidation Trust Accounts upon the completion of any and all final actions and disbursement of any and all final costs with respect to the Liquidation Trust Acquired Assets.

  • After the Effective Date, all Cash in the Liquidation Trust Accounts shall be free and clear of any and all Encumbrances of TCTM and all other Encumbrances and Claims except as set forth in this Plan.

  • The Liquidation Trustee shall open and use federally insured Liquidation Trust Accounts to hold funds for the Carve-Outs, Unsecured Allowance, and Liquidation Reserve.

  • Any Cash left in the Liquidation Trust Accounts after satisfaction of all Allowed Claims relative to such Accounts, as applicable, shall first be used to satisfy unpaid Allowed Priority Claims, then Allowed but unpaid Administrative Expense Claims and then Allowed General Unsecured Claims.


More Definitions of Liquidation Trust Accounts

Liquidation Trust Accounts means the Pueblo Liquidation Trust Account and the FLBN Liquidation Trust Account.
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Related to Liquidation Trust Accounts

  • 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.

  • 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.

  • 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.

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • Trust Account means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of warrants simultaneously with the closing date of the IPO, will be deposited.

  • 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 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).

  • 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.

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

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

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

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Trust Funds means any cash or Permitted Investments comprised of (a) funds specially and exclusively used (i) for payroll and payroll taxes and other employee benefit payments to or for the benefit of employees of Loan Parties and their subsidiaries, (ii) to pay all taxes required to be collected, remitted or withheld (including, without limitation, federal and state withholding taxes (including the employer’s share thereof)) and (b) any other funds which any Loan Party holds on behalf as an escrow or fiduciary for another person (other than another Loan Party).

  • Note A-1 Trust Fund means the trust formed pursuant to the Note A-1 PSA.

  • Upper-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Upper-Tier REMIC.

  • Custodial Accounts Each custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Purchasing and Servicing Agreement or Servicing Agreement, as applicable.

  • 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.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

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

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Lower-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Lower-Tier REMIC.

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

  • Property Trustee Account has the meaning set forth in Section 3.8(c).

  • 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.