Litigation Trust Interests Clause Samples
The 'Litigation Trust Interests' clause defines the rights and entitlements of parties who hold interests in a litigation trust, typically established during bankruptcy or restructuring proceedings. This clause outlines how such interests are allocated, transferred, and what benefits or distributions holders may receive from the trust’s recoveries, such as proceeds from lawsuits or settlements. By clearly specifying the mechanics and rights associated with these interests, the clause ensures transparency and fairness in distributing litigation proceeds among stakeholders, thereby preventing disputes and facilitating orderly administration of the trust.
Litigation Trust Interests. Beneficial interests in the Litigation Trust will be represented by book entries on the books and records of the Litigation Trust.
Litigation Trust Interests. On the date hereof, the Litigation Trust shall issue that percentage of the Litigation Trust Interests to each Litigation Trust Beneficiary, in accordance with the terms of the Plan, the Confirmation Order, and this Agreement, as is set forth next to such Litigation Trust Beneficiary’s name on Schedule 1 hereto (such percentage, the “Ratable Share Percentage”). The Litigation Trust Beneficiaries shall be entitled to distributions from the Litigation Trust Proceeds in accordance with the terms of the Plan, the Confirmation Order, and this Agreement including, without limitation, Section 4.5(a) below. The beneficial interests in the Litigation Trust will be represented by book entries on the books and records of the Litigation Trust. The Litigation Trust will not issue any certificate or certificates to evidence any beneficial interests in the Litigation Trust.
Litigation Trust Interests. The beneficial interests in the Litigation Trust will be represented by book entries on the books and records of the Litigation Trust. The Litigation Trust will not issue any certificate or certificates to evidence any beneficial interests in the Litigation Trust.
Litigation Trust Interests