Examples of Disbursing Agent in a sentence
Commencing upon the Effective Date, the Reorganized Debtor, the Committee or the Disbursing Agent, as applicable, shall be authorized and directed to distribute the amounts required under this Plan to the holders of Allowed Claims according to the provisions of the Plan.
On or as soon as practical following the Effective Date, the Claims Reserve Account shall be opened and held by the Disbursing Agent and funded by the Unsecured Creditor Contribution, which funds (minus Plan Expenses) shall be held for the benefit of holders of Allowed Unsecured Claims.
The funds allocated to Disputed Claims that are asserted as Unsecured Claims will not be distributed, but will be held in the Claims Reserve Account by the Disbursing Agent in accordance with this Plan pending resolution of such Disputed Claims.
Payments to Holders of Class 4 Unsecured Claims will be made by the Disbursing Agent in accordance with the procedures set forth in Article 5 hereof.
The Reorganized Debtor shall have no obligations or duties whatsoever, including but not limited to, any fees, taxes, tax reporting or filings with any governmental authority, with respect to the Claims Reserve Account or its administration, which obligations and duties shall be solely vested with the Committee and the Disbursing Agent.