Claims Trust definition

Claims Trust means the trust or other legal entity established on the Effective Date in accordance with the Claims Trust Documents, which trust or other legal entity shall be vested with the Claims Trust Assets and shall make certain distributions in accordance with the Claims Trust Documents.
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Claims Trust is defined in Section 12.3.
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Examples of Claims Trust in a sentence

  • For the avoidance of doubt, the nominees of the Multistate Trust, the Nevada Trust, and the Tort Claims Trust shall have fiduciary duties only to the beneficiaries of the Multistate Trust, the Nevada Trust, and the Tort Claims Trust, respectively.

  • If and to the extent such damage or loss as covered by this Indemnification provision is covered by the State of Georgia Tort Claims Trust Fund (the “Fund”), Contractor agrees to reimburse the Fund.

  • Two members shall be deemed to have been recommended to the Bankruptcy Court for appointment jointly by the United States and the Beneficiaries other than the Multistate Trust, the Nevada Trust, and the Tort Claims Trust, and one member shall be deemed to have been recommended to the Bankruptcy Court for appointment by each of the Multistate Trust, the Nevada Trust, and the Tort Claims Trust, in each case as indicated on the attached Schedule 2.

  • The term “Tort Claims Trust Agreement” shall have the same meaning as in the Plan.

  • Additional recoveries from the Non-Released Claims Trust include potential claims against directors and officers with recoveries from the director and officer liability insurance policies as well as other avoidance actions held by Toys, Inc.

  • The Liquidating Trust shall communicate with the Private Securities Claims Trust, the RMBS Claims Trust and with the Senior Unsecured Notes Indenture Trustee to obtain from them account information for the respective DTC participants through which the Units distributed to them will be held.

  • However, the parties to the Settlement Agreement agreed that the personal assets of directors, officers, and managers will not be a source of recovery for the Non-Released Claims Trust.

  • Upon distribution of all of the assets of the Tort Claims Trust, or the proceeds thereof, the Tort Claims Trustee shall hold the books, records and files delivered to or created by the Tort Claims Trustee for a period of four years after the last distribution of assets from the Tort Claims Trust is made.

  • At the request of the Borrower Claims Trustee, the Liquidating Trust shall also afford access to employees of the Liquidating Trust and Books and Records, as provided in subsection (a), to those professionals and agents of the Borrower Claims Trust (including, without limitation, counsel, accountants and financial advisors) who have been identified to the Liquidating Trust in each instance by the Borrower Claims Trustee.

  • The Tort Claims Trustee shall, at all times, administer the Tort Claims Trust and the assets therein in accordance with the purposes set forth in Section 1.3 hereof.