GUC Recovery Trust definition
Examples of GUC Recovery Trust in a sentence
All Residual Funds shall revert to the GUC Recovery Trust and be distributed in accordance with Section 9.6 (d) and (e) of the Plan and Section 7.5 and 9.3 of the Trust Agreement.
The Class Settlement Amount shall be paid from the GUC Recovery Trust Assets and distributed to the Class Administrator for purposes of making distributions of the Individual Class Member Settlement Payment(s) to the Class Members.
The Class Counsel Award shall be paid from the GUC Recovery Trust Assets and distributed to Class Counsel in accordance with the terms of distribution under the Debtors’ confirmed chapter 11 plan of reorganization.
Upon the entry of an order approving this Settlement Agreement on a final basis (the “Final Order”) pursuant to Federal Rule of Civil Procedure 23 and Federal Rules of Bankruptcy Procedure 7023 and 9019, the Class Members collectively shall have, and may assert an allowed general unsecured claim against the GUC Recovery Trust in the amount of $7,032,147.00, comprising of: (a) $3,423,224.40 as mileage reimbursement; and (b) $3,608,922.60 as prejudgment interest (the “Class Settlement Amount”).
The Class Settlement Amount shall be paid from assets of the GUC Recovery Trust and distributed to the Class Administrator for purposes of making distributions of the Individual Class Member Settlement Payment(s) to the Class Members.
The Class Counsel Award shall be paid from assets of the GUC Recovery Trust and distributed to Class Counsel in accordance with the terms of distribution under the Plan.
Upon the entry of the Final Order pursuant to Rule 23 and Bankruptcy Rules 7023 and 9019, Class Counsel shall be entitled to an allowed general unsecured claim against the GUC Recovery Trust in the amount of $7,099,990, comprised of: (a) $6,000,000 in legal fees; and (d) $1,099,990 in legal costs (the “Class Counsel Award”).
Upon the entry of the Final Order pursuant to Federal Rule of Civil Procedure 23 and Federal Rules of Bankruptcy Procedure 7023 and 9019, Class Counsel shall be entitled to an allowed general unsecured claim against the GUC Recovery Trust in the amount of $15,037,849.81, comprising of: (a) $13,049,809.15 as legal fees; and (b) $1,988,040.66 as legal costs (the “Class Counsel Award”).