Unsecured Creditor Distribution Trust Sample Clauses

Unsecured Creditor Distribution Trust. 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. Upon the occurrence of a Trigger Event that results in the Creditor Claim Representative becoming the Unsecured Creditor Distribution Trustee, the Reorganized Debtors shall deliver to the Creditor Claim Representative a list as of the date of the Trigger Event of each holder of a Cash Recovery General Unsecured Claim, the amount of each such holder’s Cash Recovery General Unsecured Claim, whether such claim is Allowed or Disputed, and the address and the name of a contact person for each such holder. After the Effective Date, the Unsecured Creditor Distribution Trust Agreement may be amended in accordance with its terms without further order of the Court. The Creditor Claim Representative shall serve as trustee for and shall administer the Unsecured Creditor Distribution Trust in accordance with the Unsecured Creditor Distribution Trust Agreement. Except as provided herein, Cash held in the Unsecured Creditor Distribution Trust shall not constitute property of the Debtors or the Reorganized Debtors. Distributions from the Unsecured Creditor Distribution Trust to holders of Allowed Cash Recovery General Unsecured Claims shall be made in accordance with the Unsecured Creditor Distribution Trust Agreement and the provisions governing distribution set forth in Article III, Article VI, and Article VII hereof. In the event there is a remaining Cash balance in the Unsecured Creditor Distribution Trust following payment to all holders of Allowed Cash Recovery General Unsecured Claims and Convenience Claims, such remaining amount, if any, shall be returned to the Reorganized Debtors. Subject to definitive guidance from the Internal Revenue Service or a court of competent jurisdiction to the contrary (including receipt by the Creditor Claim Representative of a private letter ruling if so requested, or the receipt of an adverse determination by the Internal Revenue Service upon audit if not contested by the Creditor Claim Representative), the Creditor Claim Representative shall (i) treat the Unsecured Creditor Distribution Trust as a “disputed ownership fund” governed by Treasury Regulation section 1.468B-9 (and make any appropriate elections) and (ii) to the extent permi...
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Related to Unsecured Creditor Distribution Trust

  • Limited Distributions of Income from Trust Account (a) Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested by the Company to cover any income or other tax obligation owed by the Company.

  • Liquidating Distributions Notwithstanding anything to the contrary in this Article VII or in Section 8.3 of the Master Agreement, upon the sale of the Property or the dissolution and liquidation of the Series in accordance with the provisions of this Agreement and of Section 8.3 of the Master Agreement, the proceeds of liquidation of the Series or the sale of the Property will be distributed within ninety (90) days of the date of sale of the Property or the dissolution and liquidation in the following order and priority:

  • Residual Distributions If the Liquidation Preference has been paid in full to all holders of Designated Preferred Stock and the corresponding amounts payable with respect of any other stock of the Issuer ranking equally with Designated Preferred Stock as to such distribution has been paid in full, the holders of other stock of the Issuer shall be entitled to receive all remaining assets of the Issuer (or proceeds thereof) according to their respective rights and preferences.

  • Trust Accounts Distributions Statements to Noteholders SECTION 5.1.

  • Multi-Class Distribution Arrangements You understand and acknowledge that the Funds may offer Shares in multiple classes, and you represent and warrant that you have established compliance procedures designed to ensure that your customers are made aware of the terms of each available class of Fund Shares, to ensure that each customer is offered only Shares that are suitable investments for him or her, to ensure that each customer is availed of the opportunity to obtain sales charge break points as detailed in the Prospectus, and to ensure proper supervision of your representatives in recommending and offering the Shares of multiple classes to your customers.

  • Accounts Distributions (a) On or prior to the Closing Date, the Indenture Trustee shall establish and maintain or cause to be established and maintained, in the name of the Indenture Trustee for the benefit of the Noteholders and the Transferor, the Collection Account as provided in Article V of the Sale and Servicing Agreement into which amounts shall be deposited in accordance with the terms of the Sale and Servicing Agreement.

  • Liquidation Distributions All property and all cash in excess of that required to discharge liabilities as provided in Section 12.4(b) shall be distributed to the Partners in accordance with, and to the extent of, the positive balances in their respective Capital Accounts, as determined after taking into account all Capital Account adjustments (other than those made by reason of distributions pursuant to this Section 12.4(c)) for the taxable year of the Partnership during which the liquidation of the Partnership occurs (with such date of occurrence being determined pursuant to Treasury Regulation Section 1.704-1(b)(2)(ii)(g)), and such distribution shall be made by the end of such taxable year (or, if later, within 90 days after said date of such occurrence).

  • Operating Distributions Subject to Section 5.2, the Company shall from time to time distribute to the Member such amounts in cash and other assets as shall be determined by the Member.

  • Custodial Accounts; Distribution Account (a) On or prior to the Closing Date, the Master Servicer shall have caused each Servicer to establish and maintain one or more Custodial Accounts, as provided in the related Purchase and Servicing Agreement, into which all Scheduled Payments and unscheduled payments with respect to the related Mortgage Loans, net of any deductions or reimbursements permitted under the related Purchase and Servicing Agreement, shall be deposited. On each Distribution Account Deposit Date, the Servicers shall remit to the Securities Administrator for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Purchase and Servicing Agreements.

  • Distributions of Cash Flow Cash flow for each taxable year of the Company shall be distributed to the Member at such times and in such amounts as the Member shall determine.

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