Litigation Proceeds Waterfall definition

Litigation Proceeds Waterfall means the manner in which the proceeds of any recovery on account of the Litigation Claims are to be distributed as set forth in Section 5.14 of the Plan.
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Litigation Proceeds Waterfall. Provision” under this Agreement shall require the consent of each Lender, (iii) any amendment that extends the Term Loan Maturity Date or the Second-Out Maturity Date shall require the consent of each affected Lender, (iv) any amendment (or series of amendments taken together) that increases by more than 2% the rate of interest (including any component thereof, floor or margin added thereto) or imposes or increases any fees (including commitment fees), in each case, for the sole benefit of Term Loan Lenders and by more than 2%, but excluding increases resulting from imposition of a default rate not in excess of 2.00% per annum (or imposing the PIK Interest rate) or increases in the interest rate resulting from increases in a reference rate, shall require the consent of each Lender holding the Second-Out Term Notes, and (vi) any amendment or waiver that disproportionately impacts in a negative manner the rights and obligations of Lenders holding Second-Out Term Notes, including an extension of the Second-Out Maturity Date, shall require the consent of Lenders holding a majority of the Second-Out Term Notes.
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Litigation Proceeds Waterfall shall have the meaning set forth in the Plan. "Litigation Trust Account" shall have the meaning ascribed to such term in Section 8.1.
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Examples of Litigation Proceeds Waterfall in a sentence

  • In furtherance of and consistent with the purpose of the Litigation Trust and the Plan, the Litigation Trustee, subject to the terms and conditions contained herein, in the Plan and in the Confirmation Order, shall (i) hold the Litigation Trust Assets for the benefit of the Litigation Trust Beneficiaries, and (ii) make distributions of Litigation Trust Proceeds in accordance with the Plan and the Litigation Proceeds Waterfall.

  • Notwithstanding the foregoing, all Litigation Trust Proceeds shall be paid over to the Litigation Trust and shall be applied in accordance with the Plan and the Litigation Proceeds Waterfall.

  • All proceeds of the Recovery from time to time received by the Litigation Trust or the Litigation Trustee shall be applied (promptly after receipt) in accordance with the Litigation Proceeds Waterfall.

  • Subject to Section 1.11 hereof, principal and interest on the Loans and the Second-Out Term Notes shall be repaid with Litigation Proceeds or Lender Distributions, as the case may be, from time to time in accordance with the Litigation Proceeds Waterfall Provision.

  • In consideration for their agreement to backstop the commitments for the Litigation Funding Loans, the Backstop Parties shall receive the Backstop Fee payable in accordance with the Litigation Proceeds Waterfall.

  • The Litigation Trustee shall distribute all Litigation Trust Proceeds in accordance with the Plan and the Litigation Proceeds Waterfall at such time or times as the Litigation Trustee, after consultation with the Litigation Trust Oversight Committee, may determine, provided, however, that the Litigation Trust shall promptly distribute all Litigation Trust Proceeds recovered from and after the entry of a Final Order resolving all of the Litigation Claims.

  • The proceeds from the settlement or successful prosecution of the causes of action transferred to the Litigation Trust, if any, will be distributed pursuant to the Litigation Proceeds Waterfall as set forth in the Plan and further described herein.

  • The SFI 2015–2019 Forest Management Standard applies to any participating organization in the U.S. or Canada that owns or has management authority for forestlands and consists of measures designed to protect water quality, biodiversity, wildlife habitat, species at risk, and forests with exceptional conservation value.

  • From and after the Effective Date, each Holder of an Allowed First Lien Lender Deficiency Claim shall receive, in full satisfaction, settlement, release, and discharge of and in exchange for such Allowed First Lien Lender Deficiency Claim its Pro Rata share of the Litigation Trust Interests in the Litigation Trust distributable to Holders of First Lien Lender Deficiency Claims representing a right to receive distributions from the Litigation Trust in accordance with the Litigation Proceeds Waterfall.

  • The Cash necessary for the Reorganized Debtors to make payments required pursuant to the Plan will be funded from three sources: (i) Available Cash, (ii) the proceeds of the Exit Facility, and (iii) the proceeds from the Litigation Trust, if any, pursuant to the Litigation Proceeds Waterfall.

Related to Litigation Proceeds Waterfall

  • Net Liquidation Proceeds With respect to any Liquidated Mortgage Loan or any other disposition of related Mortgaged Property (including REO Property) the related Liquidation Proceeds net of Advances, Servicing Advances, Servicing Fees and any other accrued and unpaid servicing fees received and retained in connection with the liquidation of such Mortgage Loan or Mortgaged Property.

  • Excess Liquidation Proceeds To the extent that such amount is not required by law to be paid to the related Mortgagor, the amount, if any, by which Liquidation Proceeds with respect to a Liquidated Mortgage Loan exceed the sum of (i) the Outstanding Principal Balance of such Mortgage Loan and accrued but unpaid interest at the related Mortgage Interest Rate through the last day of the month in which the related Liquidation Date occurs, plus (ii) related Liquidation Expenses.

  • Liquidation Proceeds Amounts, including Insurance Proceeds, received in connection with the partial or complete liquidation of defaulted Mortgage Loans, whether through trustee's sale, foreclosure sale or otherwise or amounts received in connection with any condemnation or partial release of a Mortgaged Property and any other proceeds received in connection with an REO Property, less the sum of related unreimbursed Servicing Fees and Advances.

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.