PI Trust definition

PI Trust means the trust to be established in accordance with Section 5.7 of the Plan to

PI Trust means, as applicable, the Asbestos PI Trust, the CTPV PI Trust, the NIHL PI Trust or the Silica PI Trust.

PI Trust shall have the meaning given to such term in the Reorganization Plan.

Examples of PI Trust in a sentence

• The IR process is intended to result in payments equal to the liquidated value for each claim multiplied by the Payment Percentage; however, the liquidated value of any PI Trust claim that undergoes IR may be determined to be less than the claimant would have received under ER.

• A representative of the PI Trust with settlement authority must participate in the conference.

• Accordingly, ER provides claimants with a substantially less burdensome process for pursuing PI Trust claims than the IR process described below and in Section 5.3(b) of the TDP.

• The ER process is designed primarily to provide an expeditious, efficient and inexpensive method for liquidating all categories of PI Trust claims (except those involving Lung Cancer 2 and all Foreign Claims).

• Holders of Pre-Petition Liquidated Claims that are secured by letters of credit, appeal bonds, or other security or sureties shall first exhaust their rights against any applicable security or surety before making a claim against the PI Trust.

• The proof of claim form to be submitted to the PI Trust shall require the claimant to assert the highest Disease Level for which the claim qualifies at the time of filing.

• Promptly after a claimant fails to comply with a specified deadline without obtaining an extension, the PI Trust shall send the claimant written notice of the failure to comply.

• Before making any payment to a claimant, the PI Trust must have reasonable confidence that the medical evidence provided in support of the claim is credible and consistent with recognized medical standards.

• If requested by the claimant, the Asbestos PI Trust shall accept information provided electronically.

• Indirect PI Trust Claims ..........................................................................

More Definitions of PI Trust

PI Trust means the Old Revco Talc Personal Injury Liquidating Trust.

PI Trust means the trust of that name to be established pursuant to the PI Claims Agreement; "Reserves" means the reserves held by insurers in respect of Underlying PI Claims; "Shortfall" means the amount by which the Sale Proceeds realised pursuant to clause 4.1 are less than 80% of the Uninsured PI Claims Amount; "Underlying PI Claim" means any third party claim in respect of which an Outstanding PI Claim has been made or notified; "Uninsured PI Claims Amount" means the estimated aggregate amount by which the Loss suffered by WWL and/or the relevant member of the Purchaser's Group under the Outstanding PI Claims is not covered by insurance cover available to satisfy the Underlying PI Claims to be determined in accordance with clause 3; and "Uninsured PI Claims Schedule" means the schedule of Outstanding PI Claims, to be prepared and determined in accordance with clause 3. 1.2 Recitals, etc References to this deed include the recitals which form part of this deed for all purposes. References in this deed to the parties, the recitals and clauses are references respectively to the parties and their legal personal representatives and successors, the recitals to and clauses of this deed. 1.3 Meaning of references. Save where specifically required or indicated otherwise: (a) words importing one gender shall be treated as importing any gender, words importing individuals shall be treated as importing corporations and vice versa and words importing the singular shall be treated as importing the plural and vice versa; (b) references to a person shall include any individual, firm, body corporate, unincorporated association, government, state or agency of state, association, joint venture or partnership, in each case whether or not having a separate legal personality. References to a company shall be construed so as to include any company, corporation or other body corporate wherever and however incorporated or established; and (c) terms used in this deed shall have the meanings attributed to them in the BTA, unless otherwise provided in this deed. 1.4 Headings clause and paragraph headings and the table of contents are inserted for ease of reference only and shall not affect construction.

PI Trust. The Raytech Corporation Personal Injury Settlement Trust By: ________________________________ Xxxxxxx X. Xxxx, Xx. (ct05349) “Future Claims Representative” Xxxxxx Xxxxxx, not individually but solely in his capacity as the Future Claims Representative By: ________________________________ Xxxx X. Xxxxxxxx (ct00944) “Raytech” Raytech Corporation By: ________________________________ Xxxxxxxxx X. Xxxxxx (ct04384)

PI Trust means the personal injury trust established pursuant to the Plan of Reorganization.