Tort Claims Trust definition

Tort Claims Trust shall have the same meaning as in the Plan.
Sample 1Sample 2Sample 3
Tort Claims Trust means the trust to be established by Tronox pursuant to the Plan, from which Distributions to Holders of Tort Claims will be made, as described in more detail in Article IV hereof.
Sample 1Sample 2Sample 3
Tort Claims Trust shall have the meaning set forth in Recital D.
Sample 1Sample 2Sample 3

Examples of Tort Claims Trust in a sentence

  • No implied covenants or obligations shall be read into this Tort Claims Trust Agreement.

  • The Tort Claims Trustee shall pay from the respective Reserve for Resolution the reasonable costs, expenses, and fees, including attorney fees, associated with such Resolution of Tort Claims, and for all other activities required to administer the Tort Claims Trust beyond those identified above.

  • In addition, the Tort Claims Trustee may, from time to time, create such other accounts and reserves within the Tort Claims Trust as it may deem necessary, prudent or useful in order to provide for the payment of expenses and payment of Tort Claims and may, with respect to any such account or reserve, restrict the use of monies therein.

  • The parties hereto hereby create a trust known as the Tort Claims Trust, which is the Tort Claims Trust provided for and referred to in the Plan.

  • The Tort Claims Trustee may pay from the assets of the Tort Claims Trust the reasonable salaries, fees and expenses of the Tort Claims Trustee and any professionals retained by the Tort Claims Trust.

  • The Tort Claims Trustee, the Delaware Trustee and the TAC shall not be liable to the Tort Claims Trust, to any individual holding a Tort Claim, or to any other person, except for such individual’s own breach of trust constituting fraud, bad faith or willful misconduct.

  • The principal purpose of this Tort Claims Trust Agreement and the Tort Claims Trust Distribution Procedures is to aid in the implementation of the Plan.

  • Upon distribution of all of the assets of the Tort Claims Trust, or the proceeds thereof, the Tort Claims Trustee shall hold the books, records and files delivered to or created by the Tort Claims Trustee for a period of four years after the last distribution of assets from the Tort Claims Trust is made.

  • Subject to the terms and conditions of this Tort Claims Trust Agreement and the Tort Claims Trust Distribution Procedures, the Tort Claims Trustee may delegate responsibility for discrete issues or decisions to one or more third parties subject to continued oversight by the Tort Claims Trustee.

  • The Tort Claims Trustee may transact the business and affairs of the Tort Claims Trust in the name of the Tort Claims Trust, and references herein to the Tort Claims Trust shall include the Tort Claims Trustee acting on behalf of the Tort Claims Trust.


More Definitions of Tort Claims Trust

Tort Claims Trust means the trust to be established by Tronox pursuant to the Plan, from which
Sample 1Sample 2Sample 3

Related to Tort Claims Trust

  • Deposit Accounts means all “deposit accounts” as such term is defined in the UCC, now or hereafter held in the name of a Debtor.

  • Securities Accounts (i) shall mean all “securities accounts” as defined in Article 8 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4(A) under the heading “Securities Accounts” (as such schedule may be amended or supplemented from time to time).

  • Excluded Accounts means any Xxxxx Cash Account and any other deposit account used for (a) funding payroll or segregating payroll taxes or funding other employee wage or benefit payments, (b) segregating 401(k) contributions or contributions to an employee stock purchase plan or (c) funding other employee health and benefit plans.

  • Securities Account is any “securities account” as defined in the Code with such additions to such term as may hereafter be made.

  • Investment Property the collective reference to (i) all “investment property” as such term is defined in Section 9-102(a)(49) of the New York UCC (other than any Foreign Subsidiary Voting Stock excluded from the definition of “Pledged Stock”) and (ii) whether or not constituting “investment property” as so defined, all Pledged Notes and all Pledged Stock.

  • Commodity Account is any “commodity account” as defined in the Code with such additions to such term as may hereafter be made.

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent and with respect to which a Grantor has delivered to the Administrative Agent an executed Deposit Account Control Agreement.

  • 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.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

  • Pledged Deposits means all time deposits of money (other than Deposit Accounts and Instruments), whether or not evidenced by certificates, which a Grantor may from time to time designate as pledged to the Administrative Agent or to any Secured Party as security for any Secured Obligations, and all rights to receive interest on said deposits.

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.

  • Property Trustee Account has the meaning set forth in Section 3.8(c).

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Collateral Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Administrative Claims Bar Date means the deadline for Filing requests for payment of Administrative Claims, which: (a) with respect to Administrative Claims other than Professional Fee Claims, shall be 30 days after the Effective Date; and (b) with respect to Professional Fee Claims, shall be 45 days after the Effective Date.

  • Administrative Claim Bar Date means the deadline for filing requests for payment of Administrative Claims, which shall be 30 days after the Effective Date.

  • Securities Intermediary The meaning specified in Section 8-102(a)(14) of the UCC.

  • Investment Property Control Agreement means an agreement in writing, in form and substance satisfactory to Agent, by and among Agent, any Borrower or Guarantor (as the case may be) and any securities intermediary, commodity intermediary or other person who has custody, control or possession of any investment property of such Borrower or Guarantor acknowledging that such securities intermediary, commodity intermediary or other person has custody, control or possession of such investment property on behalf of Agent, that it will comply with entitlement orders originated by Agent with respect to such investment property, or other instructions of Agent, and has such other terms and conditions as Agent may require.

  • Commodities Accounts (i) shall mean all “commodity accounts” as defined in Article 9 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4 under the heading “Commodities Accounts” (as such schedule may be amended or supplemented from time to time).

  • Commodity intermediary means a person that:

  • Commodity Interests means commodity futures contracts, options on commodity futures contracts, and options on physical commodities traded on or subject to the rules of:

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.