Common use of Undeliverable Distributions and Unclaimed Property Clause in Contracts

Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder of Allowed Claims or Allowed Interests (as applicable) is returned as undeliverable, no distribution to such Holder shall be made unless and until the Disbursing Agent has determined the then-current address of such Holder, at which time such distribution shall be made to such Holder without interest; provided that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year from the Effective Date. After such date, all unclaimed property or interests in property shall revert to the Reorganized Debtors automatically and without need for a further order by the Court (notwithstanding any applicable federal, provincial or state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim of any Holder of Claims and Interests to such property or Interest in property shall be discharged and forever barred.

Appears in 4 contracts

Samples: Voting and Support Agreement (Bonanza Creek Energy, Inc.), Registration Rights Agreement (Bonanza Creek Energy, Inc.), Agreement and Plan of Merger (HighPoint Resources Corp)

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Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder holder of Allowed Claims or Allowed Interests (as applicable) is returned as undeliverable, no distribution to such Holder holder shall be made unless and until the Disbursing Agent has determined the then-current address of such Holderholder, at which time such distribution shall be made to such Holder holder without interest; provided that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year six (6) months from the Effective Date. After such date, all unclaimed property or interests in property shall revert to the Reorganized Debtors automatically and without need for a further order by the Bankruptcy Court (notwithstanding any applicable federal, provincial or state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim of any Holder holder of Claims and Interests to such property or Interest in property shall be discharged and forever barred.

Appears in 2 contracts

Samples: Plan Support Agreement (Vanguard Natural Resources, Inc.), Plan Support Agreement (Vanguard Natural Resources, Inc.)

Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder holder of Allowed Claims or Allowed Interests (as applicable) is returned as undeliverable, no distribution to such Holder holder shall be made unless and until the Disbursing Agent has determined the then-current address of such Holderholder, at which time such distribution shall be made to such Holder holder without interest; provided provided, however, that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year six (6) months from the Effective Date. After such date, all unclaimed property or interests in property shall revert to the Reorganized Debtors automatically and without need for a further order by the Bankruptcy Court (notwithstanding any applicable federal, provincial or state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim of any Holder holder of Claims and Interests to such property or Interest in property shall be discharged and forever barred.

Appears in 1 contract

Samples: Subscription Agreement (5E Advanced Materials, Inc.)

Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder of Allowed Claims or Allowed Interests (as applicable) is returned as undeliverable, no distribution to such Holder shall be made unless and until the Disbursing Agent has determined the then-current address of such Holder, at which time such distribution shall be made to such Holder without interest; provided that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year from the Effective Date. After such date, all unclaimed property or interests in property shall revert to the Reorganized Debtors automatically and without need for a further order by the Bankruptcy Court (notwithstanding any applicable federal, provincial or state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim of any Holder of Claims and Interests to such property or Interest interest in property shall be discharged and forever barred.

Appears in 1 contract

Samples: Restructuring Support Agreement (Avaya Holdings Corp.)

Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder holder of Allowed Claims or Allowed Interests (as applicable) is returned as undeliverable, no distribution to such Holder holder shall be made unless and until the Disbursing Agent has determined the then-current address of such Holderholder, at which time such distribution shall be made to such Holder holder without interest; provided provided, however, that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year from the Effective Date. After such date, all unclaimed property or interests in property shall revert to the Reorganized Debtors automatically and without need for a further order by the Bankruptcy Court (notwithstanding any applicable federal, provincial or state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim of any Holder holder of Claims and Interests to such property or Interest in property shall be discharged and forever barred.

Appears in 1 contract

Samples: Restructuring Support Agreement (Jones Energy, Inc.)

Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder of Allowed Claims or Allowed Interests (as applicable) is returned as undeliverable, no distribution to such Holder shall be made unless and until the Disbursing Agent has determined the then-current address of such Holder, at which time such distribution shall be made to such Holder without interest; provided that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year from the Plan Effective Date. After such date, all unclaimed property or interests in property shall revert to the Reorganized Debtors automatically and without need for a further order by the Court (notwithstanding any applicable federal, provincial or state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim of any Holder of Claims and Interests to such property or Interest in property shall be discharged and forever barred.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (QualTek Services Inc.)

Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder of Allowed Claims or Allowed Interests (as applicable) is returned as undeliverable, no distribution to such Holder shall be made unless and until the Disbursing Agent has determined the then-current address of such Holder, at which time such distribution shall be made to such Holder without interest; provided provided, however, that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year from the Effective applicable Distribution Date. After such date, all unclaimed property or interests in property shall revert to the applicable Reorganized Debtors Debtor(s) automatically and without need for a further order by the Bankruptcy Court (notwithstanding any applicable federal, provincial federal or state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim claim of any Holder of Claims and Interests to such property or Interest in property shall be discharged fully discharged, released, and forever barred.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Energy Future Intermediate Holding CO LLC)

Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder of Allowed Claims or Allowed Interests (as applicable) is returned as undeliverable, no distribution to such Holder shall be made unless and until the Disbursing Distribution Agent has determined the then-current address of such Holder, at which time such distribution shall be made to such Holder without interest; provided provided, however, that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year six (6) months from the later of (a) the Effective DateDate and (b) the date of the distribution. After such date, all unclaimed property or interests in property shall revert to the Reorganized Debtors automatically and without need for a further order by the Bankruptcy Court (notwithstanding any applicable federal, provincial provincial, or state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim of any Holder of Claims and Interests to such property or Interest interest in property shall be discharged of and forever barred.

Appears in 1 contract

Samples: Restructuring Support Agreement (Chaparral Energy, Inc.)

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Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder of Allowed Claims or Allowed Interests (as applicable) is returned as undeliverable, no distribution to such Holder shall be made unless and until the Disbursing Agent has determined the then-current address of such Holder, at which time such distribution shall be made to such Holder without interest; provided provided, however, that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year from the Effective Date. After such date, all unclaimed property or interests in property shall revert to the Reorganized Debtors automatically and without need for a further order by the Bankruptcy Court (notwithstanding any applicable federal, provincial or state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim of any Holder of Claims and Interests to such property or Interest in property shall be discharged and forever barred.

Appears in 1 contract

Samples: Restructuring and Support Agreement (NBC Acquisition Corp)

Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder of Allowed Claims or Allowed Interests (as applicable) is returned as undeliverable, no distribution to such Holder shall be made unless and until the Disbursing Agent has determined the then-current address of such Holder, at which time such distribution shall be made to such Holder without interest; provided that such distributions shall be deemed unclaimed property under Bankruptcy Code section 347(b) of the Bankruptcy Code at the expiration of one year from the Effective Date. After such date, all unclaimed property or interests in property shall revert to the Reorganized Debtors automatically and without need for a further order by the Bankruptcy Court (notwithstanding any applicable federal, provincial provincial, or state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim of any Holder of Claims and Interests to such property or Interest interest in property shall be discharged and forever barred.

Appears in 1 contract

Samples: Intercreditor Agreement (CURO Group Holdings Corp.)

Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder of Allowed Claims or Allowed Interests (as applicable) is returned as undeliverable, no distribution to such Holder shall be made unless and until the Disbursing Agent has Reorganized Debtors have determined the then-current address of such Holder, at which time such distribution shall be made to such Holder without interest; provided that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year six months from the Effective Datedate such distribution is returned as undeliverable. After such date, all unclaimed property or interests in property shall revert to the applicable Reorganized Debtors Debtor(s) automatically and without need for a further order by the Bankruptcy Court (notwithstanding any applicable federal, provincial federal or state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim any claim of any Holder of Claims and Interests to such property or Interest in property shall be discharged fully discharged, released, and forever barred.

Appears in 1 contract

Samples: Restructuring Support Agreement (Chaparral Energy, Inc.)

Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder of Allowed Claims or Allowed Interests (as applicable) is returned as undeliverable, no distribution to such Holder shall be made unless and until the Disbursing Agent has determined the then-current address of such Holder, at which time such distribution shall be made to such Holder without interest; provided provided, however, that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year from the later of (a) the Effective DateDate and (b) the date of the distribution. After such date, all unclaimed property or interests in property shall revert to the Reorganized Debtors automatically and without need for a further order by the Bankruptcy Court (notwithstanding any applicable federal, provincial provincial, or state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim claim of any Holder of Claims and Interests to such property or Interest interest in property shall be discharged of and forever barred.

Appears in 1 contract

Samples: Recapitalization Agreement (Ventura Capital Privado, S.A. De C.V.)

Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder of Allowed Claims or Allowed Interests (as applicable) is returned as undeliverable, no distribution to such Holder shall be made unless and until the Disbursing Distribution Agent has determined the then-current address of such Holder, at which time such distribution shall be made to such Holder without interest; provided provided, however, that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year six months from the later of (a) the Effective DateDate and (b) the date of the distribution. After such date, all unclaimed property or interests in property shall revert to the Reorganized Debtors automatically and without need for a further order by the Bankruptcy Court (notwithstanding any applicable federal, provincial provincial, or state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim of any Holder of Claims and Interests to such property or Interest interest in property shall be discharged of and forever barred.

Appears in 1 contract

Samples: Restructuring Support Agreement (Quorum Health Corp)

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