Liquidation Trust Expense Fund definition

Liquidation Trust Expense Fund means a reserve established under Section5.5(f).
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Liquidation Trust Expense Fund means a reserve established under Section
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Liquidation Trust Expense Fund means the Cash in the amount of $51 million to be transferred to the Liquidation Trustee by the Debtors on the Effective Date, together with all additions thereto in accordance with the Liquidation Trust Agreement, in order to fund the operations of the Liquidation Trust.
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Examples of Liquidation Trust Expense Fund in a sentence

  • On the Effective Date, or as soon thereafter as is practicable, the Liquidation Trustee shall establish the Liquidation Trust Expense Fund, the funding of which may include any Liquidation Trust Assets; provided, however, that the Liquidation Trust Expense Fund may not include more than $750,000 of the Initial Liquidation Trust Funding.

  • After the Effective Date, and subject to the establishment and funding of the Liquidation Trust, the Confirmation Fund, Liquidation Trust Expense Fund, and Disputed Confirmation Reserve under Section 5.5 and as set forth in greater detail in ARTICLE 4, Distributions shall be made by the Liquidation Trustee in accordance with ARTICLE 2, ARTICLE 4, and ARTICLE 9.

  • Any amounts remaining in the Liquidation Trust Expense Fund after all Liquidation Trust Expenses are paid shall become available for Distribution to holders of Allowed General Unsecured Claims, the Allowed BP Deficiency Claim, the Allowed BP Subordinated Claim, and any Allowed Prepetition CBLIC Claims in the priority of payment provided for in accordance with the provisions of the Plan.

  • Prior to being relieved of its obligations, the Liquidation Trustee shall distribute to holders of Allowed Class 5 Claims and Class 6 Interests in accordance with the Plan the portion of Liquidation Trust Expense Fund not used to fund the operations of the Liquidation Trust.

  • The Liquidation Trust Expense Fund shall be used to pay the Liquidation Trust Expenses in accordance with the Liquidation Trust Agreement, including, without limitation, costs and expenses of (i) counsel or other advisors retained by the Liquidation Trustee, (ii) any liquidation or administration of the Liquidation Trust Assets, and (iii) the prosecution of Causes of Action and Claims objections.

  • Any amounts remaining in the Liquidation Trust Expense Fund after all Liquidation Trust Expenses are paid shall become available for Distribution to holders of Allowed General Unsecured Claims, the Allowed BP Deficiency Claim, and the Allowed BP Subordinated Claim in the priority of payment provided for in accordance with the provisions of the Plan.

  • The Liquidation Trustee and his retained professionals shall be compensated out of the Liquidation Trust's Liquidation Trust Expense Fund pursuant to the Liquidation Trustee Employment Agreement to be filed with the Court no later than ten (10) days prior to the Confirmation Hearing.

  • The initial amount of the Liquidation Trust Expense Fund shall be equal to $750,000.

  • On the Effective Date, (a) the Liquidation Trust shall be created and the Liquidation Trust Expense Fund shall be established; and (b) the Debtors’ respective rights, title, and interests in the Liquidation Trust Claims and the Debtors’ Privileges associated therewith shall be transferred to the Liquidation Trust.

  • On the Effective Date, or as soon thereafter as is practicable, the Liquidation Trustee shall establish the Liquidation Trust Expense Fund, the funding of which may include any Liquidation Trust assets; provided, however, that the Liquidation Trust Expense Fund may not include more than $750,000 of the Initial Liquidation Trust Funding.

Related to Liquidation Trust Expense Fund

  • 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 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.

  • 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.

  • 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.

  • Expense Fund has the meaning set forth in Section 9.14(f).

  • Trust Expenses means any liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Trust.

  • Extraordinary Trust Expenses shall have the meaning specified in the Standard Terms.

  • 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 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."

  • Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to zero until the outstanding principal amount of each Class of Notes has been reduced to zero, and thereafter, an amount equal to the Principal Distribution Amount (as reduced by the Noteholders’ Principal Distributable Amount, if any for such Distribution Date) for such Distribution Date.

  • Trust Amount has the meaning set forth in the Trust Agreement.

  • Noteholders’ Distributable Amount means, with respect to any Distribution Date, the sum of the Noteholders’ Principal Distributable Amount and the Noteholders’ Interest Distributable Amount.

  • Certificate Distribution Amount means, as of any Payment Date, the amount being distributed to the Trust Certificateholders on such Payment Date.

  • Liquidation Amount means $1,000 per share of Designated Preferred Stock.

  • REMIC II Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) 50% of the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) the REMIC II Remittance Rate for REMIC II Regular Interest AA minus the Marker Rate, divided by (b) 12.

  • Accrued Certificate Interest Distribution Amount With respect to any Distribution Date for each Class of LIBOR Certificates, the amount of interest accrued during the related Interest Accrual Period at the applicable Pass-Through Rate on the related Class Certificate Balance immediately prior to such Distribution Date, as reduced by such Class's share of Net Prepayment Interest Shortfalls and Relief Act Interest Shortfalls for such Distribution Date allocated to such Class pursuant to Section 4.02.

  • REMIC I Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) the REMIC I Remittance Rate for REMIC I Regular Interest I-LTAA minus the Marker Rate, divided by (b) 12.

  • Unitrust amount means an amount computed as a percentage of the fair market value of the trust.

  • Pool Distribution Amount As of any Distribution Date, the funds eligible for distribution to the Holders of the Certificates on such Distribution Date, which shall be the sum of (i) all previously undistributed payments or other receipts on account of principal and interest on or in respect of the Mortgage Loans (including, without limitation, the proceeds of any repurchase of a Mortgage Loan by the Seller and any Substitution Principal Amount) received by the Master Servicer with respect to the applicable Remittance Date in the month of such Distribution Date and any Unscheduled Principal Receipts received by the Master Servicer on or prior to the Business Day preceding such Distribution Date, (ii) all Periodic Advances made by a Servicer pursuant to the related Servicing Agreement or Periodic Advances made by the Master Servicer or the Trustee pursuant to Section 3.03 and (iii) all other amounts required to be placed in the Certificate Account by the Servicer on or before the applicable Remittance Date or by the Master Servicer or the Trustee on or prior to the Distribution Date, but excluding the following:

  • Senior Interest Distribution Amount With respect to any Distribution Date, an amount equal to the sum of (i) the Interest Distribution Amount for such Distribution Date for the Class A Certificates and (ii) the Interest Carry Forward Amount, if any, for such Distribution Date for the Class A Certificates.

  • 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.

  • Class A Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class A Noteholders’ Interest Distribution Amount and the Class A Noteholders’ Principal Distribution Amount for that distribution date.

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

  • Class B Servicing Fee shall have the meaning specified in Section 3.01.

  • 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.

  • Liquidation Expenses With respect to a Mortgage Loan in liquidation, unreimbursed expenses paid or incurred by or for the account of the Master Servicer or the related Servicers, such expenses including (a) property protection expenses, (b) property sales expenses, (c) foreclosure and sale costs, including court costs and reasonable attorneys’ fees, and (d) similar expenses reasonably paid or incurred in connection with liquidation.