Undeliverable Distributions. (a) If, on the date that is six months after the Closing Date (the “Reversion Date”), an Initial Lender has failed to comply with its obligations hereunder to provide a completed Administrative Questionnaire and any applicable tax forms required pursuant to Section 3.01(d) with respect to itself, then, without any further action by the Administrative Agent or any Lender, on the Reversion Date each such Initial Lender’s Initial Term Loans deemed made pursuant to Section 2.01 shall be deemed unclaimed property or interests in property pursuant to Section 347(b) of the Bankruptcy Code and an “Unclaimed Distribution” under and as defined in the Bankruptcy Plan and shall revert to the Borrower and be automatically discharged, terminated and cancelled (and the Administrative Agent shall update the Register to reflect such discharge, termination and cancellation).
Undeliverable Distributions. If any distribution to a Holder of an Allowed Claim is returned to the Distribution Agent as undeliverable, no further distributions shall be made to such Holder unless and until the Distribution Agent is notified in writing of such Holder’s then-current address or other necessary information for delivery, at which time all currently due missed distributions shall be made to such Holder on the next Distribution Date. Undeliverable distributions shall remain in the possession of the Reorganized Debtors until such time as a distribution becomes deliverable, or such distribution reverts to the Reorganized Debtors or is canceled pursuant to Article VI.D.5.c of the Plan, and shall not be supplemented with any interest, dividends, or other accruals of any kind.
Undeliverable Distributions. If any distribution to a holder of an Allowed Claim or Interest is returned to a Distribution Agent as undeliverable, no further distributions shall be made to such holder unless and until such Distribution Agent is notified in writing of such holder’s then-current address or other necessary information for delivery, at which time all currently due missed distributions shall be made to such holder on the next Distribution Date. Undeliverable distributions shall remain in the possession of the Reorganized Debtors until such time as a distribution becomes deliverable, or such distribution reverts to the Reorganized Debtors or is cancelled pursuant to Section 6.3(f)(3), and shall not be supplemented with any interest, dividends, or other accruals of any kind.
Undeliverable Distributions. If any distribution to the Holder of an Allowed Claim is returned as undeliverable, no further distributions shall be made to such Holder unless and until the Reorganized Debtors are notified in writing of such Holder’s then-current address. Undeliverable distributions made by the Reorganized Debtors or the Exchange Agent shall be returned to the Reorganized Debtors and shall remain in the possession of the Reorganized Debtors pursuant to this Article until such time as a distribution becomes deliverable. The Reorganized Debtors shall have no obligation to attempt to locate any Holder with regard to whom a distribution has been returned as undeliverable, forwarding time expired or similar indication. Undeliverable distributions shall not be entitled to any interest, dividends or other accruals of any kind.
Undeliverable Distributions. Any undeliverable distributions shall be administered as provided for in Section 7.5 of the Plan.
Undeliverable Distributions. If any distribution to a Liquidation Trust Beneficiary is returned as undeliverable, no further distributions to such Liquidation Trust Beneficiary shall be made unless and until the Liquidation Trust Administrator is notified of such Liquidation Trust Beneficiary’s then current address, at which time all missed distributions shall be made to such Liquidation Trust Beneficiary without interest. Amounts in respect of undeliverable distributions shall be returned to the Liquidation Trust until such distributions are claimed. All claims for undeliverable distributions shall be made on the later of the first (1st) anniversary of the Effective Date or 90 days from the date the Claim becomes an Allowed Claim. After such date, all unclaimed property on account of Deferred Professional Fee Claims or General Unsecured Claims shall revert to the Liquidation Trust and shall be distributed to Liquidation Trust Beneficiaries holding such Deferred Professional Fee Claims or General Unsecured Claims pursuant to the Plan. Upon such reversion, the claim of any Liquidation Trust Beneficiary, or their successors, with respect to such property shall be discharged and forever barred notwithstanding any federal or state escheat laws to the contrary.
Undeliverable Distributions. If a distribution is returned to the Trustee as undeliverable, such undeliverable distributions shall be governed by Article VI of the Plan.
Undeliverable Distributions. If any Allowed Claim Holder’s distribution is returned as undeliverable, no further distributions shall be made to such Holder unless and until the Liquidating Trustee is notified in writing of such Holder’s then-current address. Undeliverable distributions shall remain in the possession of the Liquidating Trustee until such time as a distribution becomes undeliverable, as set forth below. Undeliverable Cash shall not be entitled to any interest, dividends or other accruals of any kind. Any distribution that remains uncashed for a period of one hundred and eight (180) days shall be deemed undeliverable and the distribution shall revert to the Liquidating Trust, free and clear of the claimant’s interest in the Distribution, to be distributed pursuant to the Plan. For the avoidance of doubt, (i) any undeliverable distribution to a Holder of an Allowed Settlement Claim pursuant to this section 7.11 shall revert to the Class A Trust Recovery to be available for distribution to Holders of Allowed Settlement Claims in accordance with the terms of the Plan and this Agreement, and (ii) any undeliverable distribution to a Holder of an Allowed General Unsecured Claim pursuant to this section 7.11 shall revert to the Class B Trust Recovery to be available for distribution to Holders of Allowed General Unsecured Claims in accordance with the terms of the Plan and this Agreement. The applicable claimant shall be forever barred from asserting any such Claim on account of the distribution against the Debtor, the Liquidating Trust, the Liquidating Trustee, or their respective assets. No such funds or other property shall escheat to any federal, state, or local government or other entity for any reason. Nothing contained in the Plan, Confirmation Order, or this Agreement shall require the Liquidating Trustee to attempt to locate any Holder of an Allowed Claim.
Undeliverable Distributions. If any distribution to a Holder of a Proven Claim is returned as undeliverable, no further distributions to such Holder of such Claim shall be made unless and until the Disbursing Agent or the appropriate Servicer is notified of then-current address of such Holder, at which time all missed distributions shall be made to such Holder without interest. Undeliverable distributions shall be returned to the Reorganized Debtors until such distributions are claimed. The Applicants shall make reasonable efforts to locate Holders of Proven Claims for which distributions were undeliverable. AllNotwithstanding the foregoing, all claims for undeliverable distributions must be made on or before the date that is 90 days after the Initial Distribution Date, the applicable Interim Distribution Date or the Final Distribution Date as the case may be, after which date all unclaimed property shall revert to the Reorganized Debtors free of any restrictions or claims thereon and the Claim of any Holder or successor to such Holder with respect to such property shall be discharged and forever barred.
Undeliverable Distributions. Ifthere are any Undeliverable Distributions, then, at the discretion of and with the consent of the Trustee, the Corporation shall direct, authorize or cause the Depository to distribute the Undeliverable Distributions to the Unsecured Creditors on a pro-rata basis to the maximum amount ofthe Proven Claims ofUnsecured Creditors should any such Proven Claims ofUnsecured Creditors remain.
