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

  • 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.

  • Declare or make any distribution, including distributions to pre-petition creditors of the Debtors' Chapter 11 estates, except as contemplated by the Plan and the Litigation Proceeds Waterfall.

  • 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.

  • 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.

  • Any Litigation Trust Assets which are not distributable in accordance with this Section 3.6(b) as of the termination of Litigation Trust shall be distributed in accordance with the Litigation Proceeds Waterfall.

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  • 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.