Examples of Custodial Trusts in a sentence
The settlement agreements for the Previously Settled Environmental Claims, the Miscellaneous Federal and State Environmental Claims, the Residual Environmental Claims, and the Environmental Custodial Trusts have been approved by the Bankruptcy Court and, where so required by the terms of the settlement agreement, by the appropriate federal district court.
Any Subsequent Administrative Claims of the United States or any individual state under civil Environmental Laws relating to the Designated Properties shall be addressed through the Environmental Custodial Trust Settlement Agreements, the Environmental Custodial Trust Funding, and the Environmental Custodial Trust Administration Funding to be paid by ASARCO to the Environmental Custodial Trusts.
Any Administrative Claims of the United States or any individual state under civil Environmental Laws relating to the Designated Properties shall be addressed through the Environmental Custodial Trust Settlement Agreements, the Environmental Custodial Trust Funding, and the Environmental Custodial Trust Administration Funding to be paid by ASARCO to the Environmental Custodial Trusts.
The Asbestos Trust and the Environmental Custodial Trusts (including each of the Environmental Custodial Trust Accounts) shall be subject to the continuing jurisdiction of the Bankruptcy Court sufficient to satisfy the requirements of Treasury Regulation section 1.468B-1.
The Environmental Custodial Trusts are intended to be treated as qualified settlement funds (for which no grantor trust election has been made) within the meaning of Treasury Regulation section 1.468B-1, and hence as taxable entities for federal income tax purposes, and each respective Custodial Trustee will be the “administrator” of its respective Environmental Custodial Trust pursuant to Treasury Regulation section 1.468B- 2(k)(3).
Jurisdiction over the Asbestos Trust and the Environmental Custodial Trusts.
The Environmental Custodial Trusts under the Parent’s Plan shall be substantially identical to the environmental custodial trusts agreed upon by the Debtors and applicable governmental agencies with respect to the Designated Properties, which environmental custodial trusts the Debtors and the applicable governmental agencies sought approval of, from the Bankruptcy Court, pursuant to the Environmental 9019 Motion.
Each contract or lease entered into by any Debtor after the Petition Date that is identified in Exhibit 2-D to this Plan (as such list may be amended, supplemented, or modified on or before the Confirmation Date) shall be assigned to, and such Debtor’s obligations thereunder assumed by, one or more Environmental Custodial Trusts, as specified in Exhibit 2-D hereto.
In particular, the organization, operative documents and funding amounts of the Environmental Custodial Trusts under the Parent’s Plan shall be substantially identical to those which the Debtors and the applicable governmental agencies agreed upon and sought approval of in connection with the Environmental 9019 Motion.
The Environmental Custodial Trusts andthe trust created by the Residual Environmental Settlement Agreement shall be implemented on or before the Effective Date exactly in accordance with the Debtors’ Environmental 9019 Motion and orders approving such motion except for ministerial non-substantive changes.