Settling Claimants definition
Examples of Settling Claimants in a sentence
The Reorganized Dow Corning and Shareholders along with their Insurers shall at their request and expense, and pursuant to procedures approved by the Claims Office, be afforded access to and permitted to inspect all documentation and other supporting evidence submitted by any Settling Claimants who have been paid as may be necessary for the Debtor and the Shareholders to receive benefits under insurance policies.
The Settling Claimants agree to apportion all Consideration among themselves in accordance with the terms of the Allocation Agreement.
In the case of any allocation of Collateral to the Settling Claimants and the Additional Payees, such compliance shall be determined separately with respect to the MSA Portion and AP Portion.
To ensure prompt payment of such amounts, the Settling Claimants hereby authorize the Designated Representative to setoff from amounts owing to each responsible Settling Claimant the fees and costs owed by that Settling Claimant under the terms of this Paragraph.
No parties other than the Settling Claimants, PG&E Corporation, their respective Releasees, Edison International, and the El Paso Releasees shall be entitled to the benefits of, or entitled to enforce, the releases provided for in this Agreement.
The El Paso Settling Parties shall cooperate with the Settling Claimants and the Settlement Fund as more fully set forth herein, including, without limitation, in Paragraphs 5.7, 8.3(c), 8.8, and 12.6 of this Agreement.
If this Agreement is terminated pursuant to Paragraph 10.1(d), then the Settling Claimants or their designees shall have all rights available to them at law or in equity, including, without limitation, the right to specific performance.
Specifically, the Settlement Fund shall be used for payment of the Allowed amount of Claims of Settling Claimants in Classes 5-10, 6A, 6B, 6C, 6D and, to the extent provided in the Litigation Facility Agreement, Litigated Shareholder Claims, and for the Allowed amount of obligations described at Sections 6.16.5 and 6.16.6 of the Plan, and for payment of the Allowed amount of Claims in Classes 4A and 11-17 to the extent provided in the Plan and the Litigation Facility Agreement.
Upon the Effective Date, all claims by the El Paso Settling Parties to Consideration on deposit in the Escrow Account shall, without any further action, be released and fully discharged and the Settlement Fund shall be free to distribute such amounts to the Settling Claimants in accordance with the Allocation Agreement and as authorized by the Class Action Court.
It has made an independent determination of the fair market value of all Consideration it is providing to the Settling Claimants and the Settlement Fund and has determined that the fair market value of that Consideration is reasonably equivalent to the fair market value of all consideration received by it pursuant to this Agreement from the Settling Claimants.