Examples of Allowed Claim in a sentence
If a Claim or any portion of a Claim is Disputed, no payment or distribution shall be made on account of the disputed portion of such Claim (or the entire Claim, if the entire Claim is disputed), unless such Disputed Claim or portion thereof becomes an Allowed Claim.
However, neither the failure to do so, nor the allowance of any Claim under the Plan or otherwise, shall constitute a waiver or release of any such claim, right of setoff or right of recoupment against the holder of such Allowed Claim.
The Liquidation Trustee may, but shall not be required to, setoff against or recoup from the holder of any Allowed Claim (including any Liquidation Trust Beneficiary) on which payments or other distributions are to be made hereunder, claims of any nature that the Liquidation Trust may have against such Person.
First Priority Payments and Settlement Fund Other Payments shall be distributed as soon as practicable after approval of the Allowed Claim.
Each Liquidation Trust Beneficiary’s Liquidation Trust Interest is dependent upon such Liquidation Trust Beneficiary’s classification under the Plan and the status of its Allowed Claim.