Claims Resolution Procedures definition

Claims Resolution Procedures or “CRP” means the procedures, in the form attached to the Settlement Facility Agreement, to be implemented by the Settlement Facility pursuant to the terms and conditions of the Plan and the Settlement Facility Agreement, to process, review, and pay (if Allowed) Settlement Option Claims.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Claims Resolution Procedures or “CRP” shall mean the procedures, substantially in the form attached as Exhibit B in the Exhibit Book, to be implemented by the Trustee pursuant to the terms and conditions of the Plan and the Asbestos Trust Agreement, to liquidate, determine, and pay (if entitled to payment) Asbestos Claims as and to the extent set forth in such procedures.

Claims Resolution Procedures or “CRP” means the Claims Resolution Procedures attached hereto as Annex A. The CRP are expressly incorporated herein by reference and are a part of this Settlement Facility Agreement.

Examples of Claims Resolution Procedures in a sentence

• The eligibility criteria and documentation required to qualify for this settlement option are specified in the Claims Resolution Procedures.

• If the Claim qualifies for payment under the selected settlement option, the Claims Office shall provide to the Claimant a Notification of Status letter specifying the settlement amount for which the Claimant qualifies, as more specifically described in the Claims Resolution Procedures.

• The Settlement Facility and Claimants shall each bear their own costs, expenses, and attorneys’ fees in connection with the Claims Resolution Procedures.

• Breast Implant Claimants with Allowed Claims who receive payment under the Disease Payment Option shall be entitled to apply for an additional payment under the applicable Disease Compensation Schedule as defined in the Claims Resolution Procedures.

• In accordance with the Claims Resolution Procedures, the Claims Office shall distribute to Personal Injury Claimants Claim Forms by which Claimants can elect one or more settlement options.

• The eligibility criteria and documentation required to qualify for each of these compensation options are specified in the Claims Resolution Procedures.

• The procedures for electing to settle or litigate are specified in the Claims Resolution Procedures.

• Allowed Claims will be paid in accordance with the applicable compensation level described in the Claims Resolution Procedures and subject to the terms of this Agreement.

• The Claims Administrator may have conducted, by an independent auditor, random audits to verify evidence and supporting documentation (including medical records and medical evidence) submitted by randomly-selected Claimants in connection with the Claims Resolution Procedures and may audit individual Claims, or groups of Claims.

• The provisions of this Article describe the settlement options for resolving Claims subject to the terms and conditions of this Agreement and the Claims Resolution Procedures.

More Definitions of Claims Resolution Procedures

Claims Resolution Procedures means the process by which a Holder of Claims may Dispute the decision of the claims processor as to the Allowed amount of a Claim or whether a Claim is Allowed, which shall be set forth in the Liquidating Trust Agreement. Any such dispute shall be submitted for final and binding arbitration before (ret.) Judge George Finkle of Judicial Dispute Resolution in Seattle, Washington, and Members may have the right to seek review of such decision as may be set forth in the Liquidating Trust Agreement. The type and manner of the arbitration (in-person, by phone or video conference, or on the papers), shall be determined by the arbitrator in his sole discretion. Expenses of the arbitrator shall be paid from the Liquidating Trust. The arbitration provisions shall not apply to the States’ Class 5 Claims which shall be subject to review by the Bankruptcy Court.

Claims Resolution Procedures means the procedures established in accordance with the Plan and the Confirmation Order, substantially in the form annexed to the TCE Trust as Exhibit B thereto, as may be modified from time to time.

Claims Resolution Procedures means the procedures, to be implemented by the Asbestos Trust pursuant to the terms and conditions of the Plan, the Asbestos Trust Agreement and the Confirmation Order, governing the resolution of Asbestos Claims, substantially in the form of Exhibit 1.1.26.