Class 5 Claim definition
Examples of Class 5 Claim in a sentence
If the appeal results in an order remanding the matter for new trial as to liability and/or damages, the Claim shall be treated as a Class 5 Claim under the Plan.
The Senior Note Claim shall be an Allowed Class 5 Claim on the Confirmation Date and shall be entitled to the treatment provided under section 3.5 of the Plan.
If it is determined that any such Claim is not subject to a legally binding pre-petition settlement, then it will be treated as a Class 5 Claim under the Plan.
All applications for payment of ------------------------------ fees and expenses pursuant to Section 330 and 503(b) of the Bankruptcy Code which were incurred before the Effective Date must be filed with the Court on or before 4:00 p.m. (Eastern Standard Time) on the date that is the forty-five (45) days after the Effective Date; provided however that the foregoing shall not apply to the Class 5 Claim.
Any transfer of a Class 5 Claim held ------------------------- by a Ventas Entity shall be effective and recognized for distribution purposes of the Plan upon the filing with the Clerk of the Bankruptcy Court by the respective Ventas Entity of a notice of the transfer.
Each holder of an Allowed Class 5 Claim shall, in full satisfaction of such Claim, at the sole option of the Debtors, be (i) paid in full in Cash on the Initial Distribution Date, (ii) reinstated according to the terms of the relevant instrument, (iii) paid on such other terms as the Debtors and the holder of such Claim may agree, or (iv) satisfied through the surrender by the applicable Debtors of the collateral securing the Claim to the holder thereof.
Except as otherwise provided in this Agreement, the Escrow Agent and the Class 5 Plan Consideration Cash Out Funder shall rely conclusively on any Notice and shall have no responsibility to determine, or any independent obligation to confirm, whether the information set forth therein, including the amount of any claim held by an Eligible Allowed Class 5 Claim Holder or the amount of the payment of the Escrow Funds, is accurate or correct.
After receiving such amount, a holder of an Allowed Class 5 Claim will not be entitled to any further distribution of Distribution Trust Assets on account of such Claim.
For purposes of clarification, given that the various Releasors will waive all claims against the Federal Policy and the Ironshore Policy and given that the Federal Policy will be deemed exhausted, there will be no available insurance coverage for the Class 5 Claim.
On the Effective Date, except to the extent that a Holder of an Allowed Class 5 Claim agrees, in writing, to less favorable treatment, in full and final satisfaction, settlement, discharge and release of, and in exchange for, each Allowed Class 5 Claim, each Holder of an Allowed Class 5 Claim shall receive its Pro Rata share of the New Common Equity Interests Term Loan Pool (subject to dilution by the MIP Equity).