Asbestos Trust Assets definition

Asbestos Trust Assets means (a) $370 million in Cash contributed to the Asbestos Trust by GST or Garrison on the day immediately preceding the Effective Date; (b) $30 million in Cash contributed to the Asbestos Trust by Coltec on the day immediately preceding the Effective Date; (c) the Deferred Contribution; (d) the Option; (e) any insurance recoveries paid to the Asbestos Trust in accordance with Section 7.3.10 hereof;(f) the Asbestos Trust Causes of Action (as defined in Section 7.3.4 hereof); and (g) following the transfer or vesting of the foregoing to or in the Asbestos Trust, any proceeds thereof and earnings and income thereon.
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Asbestos Trust Assets means the Asbestos Trust Payment and an Allowed Class 5B Claim in the amount of $1.0 million, as well as the Debtors' rights with respect to, among other things, indemnification, contribution or reimbursement under the insurance policies issued by the Asbestos Insurance Carriers (but not the policies themselves) and all of their rights under any other policies that provide coverage for Asbestos Claims (but not those policies themselves), but only to the extent of such coverage under those policies, which rights shall be transferred to the Asbestos Trustee.
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Asbestos Trust Assets means, collectively: (a) the Asbestos Trust Contributions; (b) all other assets, rights, and benefits assigned, transferred or conveyed to the Asbestos Trust in connection with this Plan or any Plan Documents; and (c) all proceeds of the foregoing.
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Examples of Asbestos Trust Assets in a sentence

  • All Asbestos Claims shall be paid by the Asbestos Trust solely from the Asbestos Trust Assets as and to the extent provided in the CRP.

  • In consideration of the Asbestos Trust Assets transferred to the Asbestos Trust under the Plan and in furtherance of the purposes of the Asbestos Trust and the Plan, the Asbestos Trust shall assume all liability and responsibility for all Asbestos Personal Injury Claims and the Debtors shall have no further financial or other responsibility or liability therefor.

  • Notwithstanding the foregoing, neither the PBGC nor any other Entity shall assert any liability or responsibility with respect to any pension plans under any law, governmental policy or regulatory provisions against, and such liability or responsibility shall not attach to, the Asbestos Trust or any of the Asbestos Trust Assets.

  • Initial Appointment: Upon entering an appointive position, an employee shall receive compensation at the minimum of the salary range in the job classification for which the employee was hired.

  • The costs and expenses of the Asbestos Trust, including the fees and expenses of the Asbestos Trust Administrator(s) and its retained professionals, shall, subject to the provisions of the Budget and the terms of the Asbestos Trust Agreement, be paid first out of the $2 million in Cash in the Asbestos Trust Assets and then out of the other Asbestos Trust Assets.

  • The Asbestos Trust Administrator(s) shall be responsible for payment, out of the Asbestos Trust Assets, of any taxes imposed on the Asbestos Trust or the Asbestos Trust Assets.

  • The Asbestos Trust Administrator(s) shall be responsible for all decisions and duties with respect to the Asbestos Trust and the Asbestos Trust Assets.

  • The Asbestos Trust Administrator(s) and the Asbestos Trust shall be discharged or dissolved, as applicable, at such time as (i) all Asbestos Personal Injury Claims have been resolved, (ii) all Asbestos Trust Assets have been liquidated, and (iii) all distributions required to be made by the Asbestos Trust Administrator(s) under the Plan and the Asbestos Trust Agreement have been made.

  • Any indemnification claim of the Asbestos Trust Administrator(s) (and the other parties entitled to indemnification under this subsection (p)) shall be satisfied first from the $2 million in Cash in the Asbestos Trust Assets and then from the Asbestos Trust Assets.

  • The costs and expenses of the Asbestos Trust, including the fees and expenses of the Asbestos Trust Administrator and its retained professionals, shall, subject to the terms of the Asbestos Trust Agreement, be paid first out of the $2 million in Cash in the Asbestos Trust Assets and then out of the other Asbestos Trust Assets.


More Definitions of Asbestos Trust Assets

Asbestos Trust Assets means the Debtors' Payment and the Sealed Air Payment, and any proceeds thereof.
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Asbestos Trust Assets means (a) directly or indirectly, the Asbestos Insurance Recoveries; (b) 100 percent of the interests in Reorganized Covington; (c) the Class 4 Payment; (d) the Asbestos Ratable Portion of the Plan Consideration; (dSCC Litigation Trust Interests and the Liquidation Trust Interests; and (e) $27.5 million in Cash for purposes of Asbestos Trust Expenses; and (e) all of Reorganized ASARCO’s rights, title, and interests in and to the Plan Sponsor Promissory Note and the Security Documents.
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Asbestos Trust Assets means, with respect to the Debtors’ Plan, (a) 100 percent of the interests in Reorganized Covington and (b) Cash equal to the amount of the Asbestos Personal Injury Claims and Demands, as estimated by the Bankruptcy Court or agreed to by the Debtors.
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Asbestos Trust Assets means (a) directly or indirectly, the Asbestos Insurance Recoveries; (b) 100 percent of the interests in Reorganized Covington; (c) the Class 4 Payment; (d) the Asbestos Ratable Portion of the SCC Litigation Trust Interests and the Liquidation Trust Interests; and (e) $27.5 million in Cash for purposes of Asbestos Trust Expenses.
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Asbestos Trust Assets means the Asbestos Trust Payment and an Allowed Class 5B Claim in the amount of $1.0 million, as well as the Debtors' rights with respect to, among other things, indemnification, contribution or reimbursement under the insurance policies issued by the
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Asbestos Trust Assets means the Debtors’ assets transferred to the Asbestos Trust in accordance with the Plan and the Asbestos Trust Agreement. The Asbestos Trust Assets shall be comprised of (i) Cash in the amount of $2 million and (ii) the Asbestos Trust Claim (or, if fixed by Final Order or settlement prior to the Effective Date, the distribution to which such Claim is entitled as an Allowed General Unsecured Claim).
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Related to Asbestos Trust Assets

  • Trust Assets means, with respect to the Appointments and to the extent held, deposited or invested by any Seller for the benefit of others (whether or not constituting all or a portion of the corpus of any trust) as collateral, trust assets or otherwise by the applicable Corporate Trust Contracts or any other applicable legal obligation, (a) all cash on hand or held in bank accounts (including the Deposits) or in money market funds, and (b) all shares, stock, bonds, debentures, notes, mortgages, guarantees, letters of credit, certificates of indebtedness, warrants, treasuries or other securities or financial instruments or property of any type or description.

  • Liquidating Trust Assets means the assets of a Debtor or Debtor-Controlled Entity to be transferred to a Liquidating Trust as may be determined by the Plan Administrator, which shall be described in a Liquidating Trust Agreement.

  • Trust business means the business of acting as trustee, executor or administrator;

  • the Trust Fund means the Bond(s) referred to in the First Schedule to the Declaration of Trust and the property from time to time representing the same (and also includes any other property which may become Trust Property as a result of any loan to the Trustees or any addition by way of gift or any accumulation of income).

  • Lead Securitization Trust means the Securitization Trust created in connection with the Lead Securitization.

  • Note A-1 Trust Fund means the trust formed pursuant to the Note A-1 PSA.

  • Note A-2 Trust Fund means the trust formed pursuant to the Note A-2 PSA.

  • Note A-4 Trust Fund means the trust formed pursuant to the Note A-4 PSA.

  • Trust Property means as of any particular time any and all property, real or personal, tangible or intangible, which at such time is owned or held by or for the account of the Trust or the Trustees in such capacity.

  • Liquidating Trust means the liquidating trust maintained by the Trustee holding the Trust Assets of the Partnership, identified as the "PLM Equipment Growth Fund III Liquidating Trust"; also referred to herein as the "Trust."

  • Related Claims means all Claims for Wrongful Acts based upon, arising out of, resulting from, or in any way involving the same or related facts, circumstances, situations, transactions or events or the same or related series of facts, circumstances situations, transactions or events, whether related logically, causally or in any other way.

  • Liquidating Trust Agreement means an agreement evidencing the terms and provisions governing a Liquidating Trust that shall be entered into prior to the establishment of such Liquidating Trust and pursuant to which a Liquidating Trustee shall manage and administer Liquidating Trust Assets.

  • Note A-3 Trust Fund means the trust formed pursuant to the Note A-3 PSA.

  • Trust Account means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of warrants simultaneously with the closing date of the IPO, will be deposited.

  • Delaware Trust Assets Purchaser means the Computershare Delaware Trust Company.

  • Litigation Trust means the trust to be established on the Plan Implementation Date at the time specified in section 6.4(p) in accordance with the Litigation Trust Agreement pursuant to the laws of a jurisdiction that is acceptable to SFC and the Initial Consenting Noteholders, which trust will acquire the Litigation Trust Claims and will be funded with the Litigation Funding Amount in accordance with the Plan and the Litigation Trust Agreement.

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

  • Non-Lead Securitization Trust means the Securitization Trust into which any Non-Lead Securitization Note is deposited.

  • Owner Trust Estate means all right, title and interest of the Trust in and to the property and rights assigned to the Trust pursuant to Article II of the Sale and Servicing Agreement, all funds on deposit from time to time in the Trust Accounts and all other property of the Trust from time to time, including any rights of the Trust pursuant to the Sale and Servicing Agreement.

  • Trust Funds means any cash comprised of (i) funds specifically and exclusively used for payroll Taxes, payroll and other employee benefit payments to or for the benefit of any Loan Party’s or its Subsidiaries’ employees, (ii) all Taxes required to be collected, remitted or withheld (including, without limitation, federal and state withholding taxes (including the employer’s share thereof) and (iii) any other funds (A) which any Loan Party holds on behalf of another Person and (B) which such Loan Party holds as an escrow or fiduciary for such Person.

  • Blind Trust means an independently managed trust in which the employee-beneficiary has no management rights and in which the employee-beneficiary is not given notice of alterations in or other dispositions of the property subject to the trust.

  • Plan Trust means the trust governed by the Plan.

  • Pool Assets has the meaning set forth in Section 1.2(d) of the Agreement.

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • PFPC Trust means PFPC Trust Company or a subsidiary or affiliate of PFPC Trust Company.

  • Class Title means the designation given under these rules to a class and to each position allocated to such class.