Litigation Trust Payment definition

Litigation Trust Payment means a one-time, non-refundable payment of $500,000 in Cash to be provided by the Restructuring Support Parties to the Litigation Trust on the Effective Date, which payment shall be used either to fund a distribution to Holders of Litigation Trust Interests or to provide funding in connection with the investigation and/or prosecution of the Litigation Trust Causes of Action.
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Litigation Trust Payment means that certain payment in the amount of $250,000 to be made by the Post-Confirmation Debtors to the Litigation Trustee out of the Settlement Escrow on the Effective Date or as soon thereafter as is practicable, as agreed between the Litigation Trustee and the Creditors’ Committee in connection with the UCC-LT Settlement .
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Litigation Trust Payment means a one-time, non-refundable payment of $1,000,000 in Cash to be provided by the Debtors to the Litigation Trust on the Effective Date, which payment shall be used either to fund a distribution to Holders of Litigation Trust Interests, to provide funding in connection with the investigation and/orprosecution of the Litigation Trust Causes of Action and/or for such other purposes determined by the Litigation Trustee in its sole discretion and consistent with the Litigation Trust Agreement and applicable law.
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Examples of Litigation Trust Payment in a sentence

  • Pursuant to the Plan, in general, each Holder of a General Unsecured Claim shall receive its Pro Rata Share of the Litigation Trust Interests, entitling such Holder to receive the actual proceeds, if any, of the Litigation Trust Causes of Action and the Litigation Trust Payment.

  • On the Effective Date, the Debtors shall transfer the Litigation Trust Payment and the Litigation Trust Causes of Action to the Litigation Trust for the benefit of Holders of Allowed General Unsecured Claims, which assets shall vest in the Litigation Trust.

  • The Debtors shall not use the Litigation Trust Payment and the Litigation Trust Causes of Action for any other purpose.

  • In the event that the Insider Claim Objection Period Expires without a written objection to an Insider General Unsecured Claim being Filed, then such Insider General Unsecured Claim shall be deemed Allowed and shall receive the treatment set forth in Article III.C.8.No portion of the Litigation Trust Payment shall be subject to distribution and/or allocation to the Reorganized Debtors pursuant to Article IV.R.12.

  • Notwithstanding anything to the contrary herein, and regardless of whether the Reorganized Debtors provide the Litigation Trust Discretionary Financing, in no event shall Holders of Allowed General Unsecured Claims recover more than the full amount of their Allowed General Unsecured Claims from the Litigation Trust Distributable Proceeds, if any, and the Litigation Trust Payment.

  • Upon paying the Proceeds Amount, the Payment Trust shall provide written notice of the amount of the Proceeds Amount to the Litigation Trust ("Payment Notice").

  • The Litigation Trustee may, in its discretion, distribute any portion of the Litigation Trust Payment to the Holders of Litigation Trust Interests at any time and/or use such funds for any purpose permitted under the Plan, the Trust Agreement and applicable law.

  • On the Effective Date, the Debtors shall transfer the Litigation Trust Payment to the Litigation Trust and the Debtors and the Litigation Trustee shall execute the Litigation Trust Agreement and shall take all steps necessary to establish the Litigation Trust in accordance with the Plan and the beneficial interests therein, which shall be for the benefit of the Litigation Trust Beneficiaries.

Related to Litigation Trust Payment

  • Litigation Trustee means a Person to be determined by SFC and the Initial Consenting Noteholders prior to the Effective Time, with the consent of the Monitor, to serve as trustee of the Litigation Trust pursuant to and in accordance with the terms thereof.

  • 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.

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

  • 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.

  • 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.

  • 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 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 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).

  • 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.

  • Indenture Trustee Fees means the compensation and expenses (including attorney’s fees and expenses and indemnification payments) payable to the Indenture Trustee for its services under this Master Indenture and the other Relative Documents to which it is a party (if any).

  • Owner Trustee Fee means an annual fee equal to $3,000, payable on the Payment Date occurring in May of each year, commencing in May 2020.

  • Disbursing Agent means the Reorganized Debtors or the Entity or Entities selected by the Debtors or the Reorganized Debtors, as applicable, to make or facilitate distributions pursuant to the Plan.

  • 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.

  • Trustee Fees and Expenses As compensation for and in payment of trust expenses related to its services hereunder other than Extraordinary Trust Expenses, the Trustee will receive Trustee Fees on each Distribution Date in the amount equal to $2,000. The Trustee Fee shall cease to accrue after termination of the Trust. The "Trigger Amount" with respect to Extraordinary Trust Expenses for the Trust is $25,000 and the Maximum Reimbursable Amount is $100,000. The Trustee Fee will be paid by the Expense Administrator. Expenses will be reimbursed by the Expense Administrator in accordance with the Expense Administration Agreement. Expense Administrator: The Trustee will act as Expense Administrator on behalf of the Trust pursuant to an Expense Administration Agreement, dated as of the date of the Trust Agreement (the "Expense Administration Agreement"), between the Trustee as Expense Administrator (the "Expense Administrator") and the Trust. The Expense Administrator will receive a fee equal to $5,500 payable on each Distribution Date. The Expense Administrator Make-Whole Amount, if any, shall also be considered part of the Expense Administrator's fee hereunder and under the Expense Administration Agreement. The Amounts specified in this paragraph are also referred to as the "Expense Administrator's Fee". The Expense Administrator will be responsible for paying the Trustee Fee and reimbursing certain other expenses of the Trust in accordance with the Expense Administration Agreement.

  • Trust Fund Expenses shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

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

  • Indenture Trust Estate means all money, instruments, rights and other property that are subject or intended to be subject to the lien and security interest of Indenture for the benefit of the Noteholders (including, without limitation, all property and interests Granted to the Indenture Trustee), including all proceeds thereof.

  • Indenture Trustee Fee means an annual fee equal to $5,000, payable on the Payment Date occurring in June of each year, commencing in 2017.

  • Note A-2 Trust Fund means the trust formed pursuant to the Note A-2 PSA.

  • NIM Trustee The trustee for the NIM Securities.

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.

  • 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.

  • 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."

  • 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.