Examples of Schedule III Debtors in a sentence
Notwithstanding the foregoing, the Reorganizing Debtors or their designees reserve the right to resolve Claims against the Schedule III Debtors prior to the Effective Date.
Within 90 days of the Effective Date, the Millennium Trust Trustee shall review all executory contracts and unexpired leases that exist between any of the Schedule III Debtors and shall determine whether to assume or reject such contracts.
Within 90 days of the Effective Date, the Millennium Trust Trustee will review all executory contracts and unexpired leases that exist between any of the Schedule III Debtors and will determine whether to assume or reject such contracts.
Class 14 consists of the Equity Interests in the Debtors other than LBFC, LBAFGP, LBIAF and the Schedule III Debtors.
Each holder of Equity Interest in any Debtor (other than LBFC, LBAFGP, LBIAF and the Schedule III Debtors) is conclusively presumed to accept the Plan and is not entitled to vote to accept or reject the Plan.
Notwithstanding anything to the contrary in the Plan or Confirmation Order, no exculpation, release, injunction or discharge provisions in the Plan or Confirmation Order shall affect or limit the rights or obligations of, or protections afforded, the Debtors, Reorganized Debtors, Schedule III Debtors or Insurers under § 9.5 or any Insurance Policies or Insurance Agreements.
In addition, Schedule III Debtors that are U.S. corporations may not be permitted to file a consolidated U.S. federal income tax return because each Schedule III Debtor may not be treated as owning at least 80% of its respective subsidiary’s equity (by vote and value) due to the issuance of Participation Rights.
The Millennium Custodial Trust shall be established for the sole purpose of holding, liquidating and distributing the assets of the Schedule III Debtors other than MPI, MSC and MPCO, subject to the North American Restructuring, in accordance with Treasury Regulation section 301.7701-4(d) and Revenue Procedure 94-45, with no objective to continue or engage in the conduct of a trade or business.
The Wind-Up Funds will be held in an account maintained by the Millennium Trust Trustee for the benefit of holders of Claims against the Schedule III Debtors (other than MPCO, MSC and MPI) and will likely be invested in cash equivalents and other low risk permitted investments until needed in connection with administration of the trust and liquidation of the Millennium Trust Chain Assets.
Working with their financial and legal advisors, the Debtors undertook an analysis of the potential costs associated with the Millennium Custodial Trust and the Environmental Custodial Trust, and believe that the proposed funding will be sufficient to wind up the Schedule III Debtors (including resolving claims asserted against those Debtors) and fund the remediation of the property to be contributed to the Environmental Custodial Trust.