Litigation Trust Beneficiaries definition

Litigation Trust Beneficiaries means the holders of Litigation Trust Interests.

Litigation Trust Beneficiaries means the Holders of Allowed Class 6 Claims and Allowed Class 7 Claims.

Litigation Trust Beneficiaries means (a) prior to the Excess Recovery Date, (i) holders of Allowed Class 7-A (except the holders of the Deficiency Claims on account of the Senior Secured Claims and the Bridge Loan Claims), Class 7-C (except the Senior/Bridge Guarantee Claims), (ii) holders of Allowed Class 7-D Claims (except the Senior/Bridge Deficiency Claims), (iii) subject to the satisfaction of the 2015 Notes Plan Conditions, holders of Allowed Class 8 Claims, and (iv) the Reorganized Debtors to the extent of 10% of any net recoveries on account of the Assigned Preference Claims, and (b), subject to Section 5.7 hereof, after the Excess Recovery Trigger Date, also including (i) the Reorganized Debtors to the extent of 1/3 of any recoveries on account of the Assigned Preference Claims and (ii) the holders of the Deficiency Claims on account of the Senior Secured Claims and the Bridge Loan Claims.

Examples of Litigation Trust Beneficiaries in a sentence

• The Litigation Trust Beneficiaries will thereafter be treated for U.S. federal income tax purposes as the grantors and deemed owners of their respective shares of the Litigation Trust Assets.

• The Litigation Trust Beneficiaries shall be treated for all purposes of the Internal Revenue Code of 1986, as amended, as the grantors of the Litigation Trust and the owners of the Litigation Trust.

• Notwithstanding the foregoing, all net proceeds of such Litigation Trust Assets shall be transferred to the Litigation Trust to be distributed to the Litigation Trust Beneficiaries consistent with the terms of the Plan and the Litigation Trust Agreement.

• BellSouth Long Distance, Inc., understands that violation of this provision could result in a rule to show cause as to the withdrawal of certification to complete intrastate telecommunications traffic within the state of South Carolina.

• The Litigation Trust shall be established as a liquidating grantor trust for the purpose of liquidating and distributing the Litigation Trust Assets to the Litigation Trust Beneficiaries in accordance with this Plan and Treasury Regulation Section 301.7701-4(d), with no objective to continue or engage in the conduct of a trade or business.

More Definitions of Litigation Trust Beneficiaries

Litigation Trust Beneficiaries means the holders of Litigation TrustInterests.

Litigation Trust Beneficiaries shall have the meaning set forth in Recital D.

Litigation Trust Beneficiaries means holders of Allowed Class 7-A Claims and Class 8 Claims, to the extent Class 8 votes to accept the Plan, and holders of Allowed General Unsecured Claims against MCI, MSC, MPI and Millennium America, Inc. (except the Senior Secured Lenders or Bridge Lenders).

Litigation Trust Beneficiaries means the holders of Allowed Syndicate Claims, Allowed SocGen Claims and Allowed Class 4 Claims and the Litigation Trust Beneficiaries set forth in the Canadian Plan.

Litigation Trust Beneficiaries means, collectively, the MDC Litigation Trust Beneficiaries and the MTE Litigation Trust Beneficiaries.

Litigation Trust Beneficiaries means the Holders of Allowed Class 4 Claims, Allowed Class 5 Claims, and Allowed Class 6 Claims and, to the extent provided for in a confirmed LandCo Plan, Allowed LandCo General Unsecured Claims, Allowed LandCo Credit Facility Deficiency Claims, and Allowed Insider Claims against the LandCo Debtors.

Litigation Trust Beneficiaries means Holders of Allowed General Unsecured Claims and Holders of Allowed ITLA Unsecured Guaranty Claims.