Unsecured Creditor Cash Pool definition

Unsecured Creditor Cash Pool means in respect of a Participating CCAA Party, the Available Cash of such Participating CCAA Party available for distribution to the Affected Unsecured Creditors of such Participating CCAA Party with Proven Affected General Unsecured Claims under the Plan, calculated on the Distribution Date immediately prior to the distribution of the Non-Filed Affiliates Plan Distributions pursuant to Section 7.1(b), prior to any Unsecured Creditor Cash Pool Adjustment, and for greater certainty does not include either of the Pension Cash Pools, and “Unsecured Creditor Cash Pool” means more than one Unsecured Creditor Cash Pools;

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Unsecured Creditor Cash Pool means, with respect to each Debtor, Cash in the amounts set forth on Exhibit A attached hereto, for purposes of disbursements to Holders of Allowed Claims in Classes 4, 5, 6, and 7, in each case solely to the extent such Class votes to accept the Plan, in accordance with Article III.B hereof. For the avoidance of doubt, a Holder of an Allowed Claim in Classes 4, 5, 6, or 7 shall be entitled to a Pro Rata recovery on account of such Allowed Claim only with respect to the Unsecured Creditor Cash Pool applicable to the Debtor subject to such Claim. The amounts set forth in each Unsecured Creditor Cash Pool may be re-allocated among the Debtors in their reasonable business judgment to recalibrate for, among other things, the claims asserted against the Debtors’ estates after the occurrence of the Claims Bar Date.

Examples of Unsecured Creditor Cash Pool in a sentence

Subordinated Note Claims: Each beneficial holder of a Subordinated Note Claim with an Accepted Claim shall receive its Pro Rata Share4 of the General Unsecured Creditor Cash Pool from the Plan Implementation Fund, in full satisfaction of such Accepted Claim, in each case, subject to the terms of the Subordinated Note Indenture and all related obligations thereunder.
The General Unsecured Creditor Cash Pool shall be funded in the aggregate amount of CAD $10 million.
Disputed Claims: Distributions to holders of Disputed Claims that become Accepted Claims following the Effective Date shall be made from time to time by the Monitor from the General Unsecured Creditor Cash Pool in accordance with provisions to be set out in the Plan.
The Monitor, on behalf of the Just Energy Entities, shall pay each General Unsecured Creditor with an Accepted Claim, and who is not deemed or has not elected to have its eligible General Unsecured Creditor Claim treated as a Convenience Claim, its Pro Rata Share3 of the General Unsecured Creditor Cash Pool, after paying all Convenience Claims, in full satisfaction of such Accepted Claims.
With respect to expenses incurred by the Unsecured Creditor Distribution Trustee, if any, acting as the Creditor Claim Representative, all Creditor Claim Representative Expenses, including the reasonable, documented fees and expenses of legal counsel to the Creditor Claim Representative, shall be paid from the Unsecured Creditor Cash Pool in accordance with the Unsecured Creditor Distribution Trust Agreement.
The establishment of the Unsecured Creditor Distribution Trust in accordance with the Unsecured Creditor Distribution Trust Agreement, and the deposit of Cash making up the Unsecured Creditor Cash Pool in the Unsecured Creditor Distribution Trust, in accordance with Article VI.B hereof, shall be authorized on the Effective Date without the need for any further corporate action and without any further action by the holders of Claims or Interests.
On the Effective Date, (i) the Debtors shall fund and transfer the Unsecured Creditor Cash Pool to the Unsecured Creditor Distribution Trust and (ii) the Unsecured Creditor Distribution Trust Agreement shall be deemed to be valid, binding, and enforceable in accordance with its terms and provisions.

More Definitions of Unsecured Creditor Cash Pool

Unsecured Creditor Cash Pool means Cash in the amount of $23,000,000.00.

Unsecured Creditor Cash Pool means the Cash pool for the benefit of Class I and Class J funded by (a) any Cash remaining in the Convenience Cash Pool after satisfying all Allowed Convenience Unsecured Claims in accordance with the Plan treatment of Claims in Class K, and (b) New CEC, in each case for the benefit of Undisputed Unsecured Claims and Disputed Unsecured Claims. The amount of Cash in the Unsecured Creditor Cash Pool funded by New CEC shall be (a) if Class I votes to accept the Plan, $6,160,000, or (b) if Class I votes to reject the Plan, $6,160,000 less the amount that otherwise would have gone to Class I if it had voted to accept the Plan. In the event that Class I does not vote uniformly against each Debtor to either accept or reject the Plan, then the Debtors will further adjust the amount of Cash in the Unsecured Creditor Cash Pool to account for the Class I acceptances and rejections at each Debtor, as applicable. The Unsecured Creditor Cash Pool shall be used (x) solely to the extent that Class I votes to accept the Plan, first to provide the Holders of Allowed Undisputed Unsecured Claims a Cash recovery equal to 2.0% of such Holder’s Allowed Undisputed Unsecured Claim, and (y) second to provide Pro Rata recoveries to Holders of Allowed Disputed Unsecured Claims in Class J from the remaining Cash pool (after the payment of Allowed Undisputed Unsecured Claims) up to a Cash recovery equal to 2.0% of such Holder’s Allowed Disputed Unsecured Claims; provided that to the extent Class I votes to reject the Plan, the Unsecured Creditor Cash Pool shall only be available to the Holders of Allowed Disputed Unsecured Claims as set forth in Article III.B.10 of the Plan. Any remaining Cash in the Unsecured Creditor Cash Pool after the satisfaction of all Undisputed Unsecured Claims and Disputed Unsecured Claims shall be reallocated to the Unsecured Insurance Creditor Cash Pool.