GUC Settlement definition

GUC Settlement means the settlement of all disputes, claims, and controversies between the Debtors, B. Riley Commercial Capital, LLC, BRF Finance Co., LLC (and any assignees thereof), the Creditors’ Committee, members of the Creditors’ Committee (except for any claims (i) held by the Debtors against Sphere 3D Corp. or (ii) held by Sphere 3D Corp. against the Debtors), and the consideration given or received, as applicable, by each as set forth in the Plan and as summarized in section 5.12 hereof.
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GUC Settlement means a settlement or other resolution of General Unsecured Claims that, if approved by the Court on or prior to the Confirmation Date, would result in payment of all Allowed General Unsecured Claims under the Plan in full, in Cash, on or prior to the Effective Date.
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Examples of GUC Settlement in a sentence

  • On or before the Effective Date, the Unsecured Creditor Trustee shall execute the Unsecured Creditor Trust Agreement and cause the Unsecured Creditor Trust to accept, on behalf of the beneficiaries thereof, (i) the GUC Settlement Cash, (ii) Retained Causes of Action and (iii) claims under and proceeds of D&O Policies.

  • The Debtors shall have transferred the GUC Settlement Cash to the Unsecured Creditor Trust.

  • As a condition precedent to consummation of the GUC Settlement, the Creditors’ Committee shall not object to or take any other action that is inconsistent with or that would reasonably be expected to prevent, interfere with, delay, or impede the confirmation and consummation of the Plan or approval of the GUC Settlement.

  • On February 13, 2020, the Debtors filed their Fourth Amended Joint Chapter 11 Plan of Liquidation of PES Holdings, LLC and its Debtor Affiliates [D.I. 994] (the “Plan”).Among other things, the Plan establishes a "GUC Claims Administrator" to administer the "GUC Settlement Reserve," a cash reserve to pay allowed general unsecured claims.

  • The General Unsecured Claim shall receive treatment under Article III.B.5.b of the Plan and AdvanSix is entitled to receive its pro rata share of the GUC Settlement Proceeds.

  • The Unsecured Creditor Trustee may, but shall not be required to, hold Cash in its Disputed Claims Reserve from the GUC Settlement Cash in trust for the benefit of the Holders ofGeneral Unsecured Claims ultimately determined to be Allowed after the Effective Date.

  • The Unsecured Creditor Trustee may, but shall not be required to, hold Cash in its Disputed Claims Reserve from the GUC Settlement Cash in trust for the benefit of the Holders of General Unsecured Claims ultimately determined to be Allowed after the Effective Date.

  • Regardless, a judicial determination regarding these issues presumably would require written discovery, such as document production (and foreseeably, motion practice), and well as depositions resulting in a time consuming litigation and potentially protracted or contentious litigation, that would also deplete assets of the GUC Settlement Proceeds.

  • For the avoidance of doubt, the Cure Payments and Sale Distribution Proceeds do not include the Escrowed Amount, GUC Settlement Amounts, or Pre-Effective Date Litigation and Settlement Proceeds.

  • Specifically, it is my understanding that the Released Parties under the Plan made significant contributions to these Chapter 11 Cases, including providing debtor-in-possession funding during the Chapter 11 cases and consenting to the use of cash collateral, pursuing and supporting the Contribution Agreement Transaction, and providing funding for the GUC Settlement Payment.

Related to GUC Settlement

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • PJM Settlement or “PJM Settlement, Inc.” shall mean PJM Settlement, Inc. (or its successor), established by PJM as set forth in Operating Agreement, section 3.3. PJM Tariff, Xxxxxx, O.A.T.T., OATT or PJM Open Access Transmission Tariff: “PJM Tariff,” “Tariff,” “O.A.T.T.,” “OATT,” or “PJM Open Access Transmission Tariff” shall mean that certain PJM Open Access Transmission Tariff, including any schedules, appendices or exhibits attached thereto, on file with FERC and as amended from time to time thereafter. Plan:

  • Cash Settlement shall have the meaning specified in Section 14.02(a).

  • CCASS Settlement Day means the term “Settlement Day” as defined in the General Rules of CCASS.

  • Final Settlement means permanent settlement of the Contractor’s actual allowable costs or expenditures as determined at the time of audit, which shall be completed within three years of the date the year-end cost settlement report was accepted for interim settlement by the State. If the audit is not completed within three years, the interim settlement shall be considered as the final settlement.

  • Combination Settlement shall have the meaning specified in Section 14.02(a).

  • securities settlement system means a securities settlement system (as defined in the CSD Regulation) operated by a central securities depository;

  • Share Settlement means a number of shares of Class A Common Stock (together with any Corresponding Rights) equal to the number of Redeemed Units.

  • Master Settlement Agreement means the settlement agreement and related documents entered into on November 23, 1998, by the state and leading United States tobacco product manufacturers.

  • Resettlement means the impact of an involuntary taking of land under the Project, which taking causes affected persons to have their: (i) standard of living adversely affected; or (ii) right, title or interest in any house, land (including premises, agricultural and grazing land) or any other fixed or movable asset acquired or possessed, temporarily or permanently; or (iii) access to productive assets adversely affected, temporarily or permanently; or (iv) business, occupation, work or place of residence or habitat adversely affected, temporarily or permanently.

  • Physical Settlement shall have the meaning specified in Section 14.02(a).

  • Early Settlement has the meaning specified in Section 5.9(a).

  • ASTC Settlement Rules means the operating rules of ASTC and, to the extent that they are applicable, the operating rules of ASX and the operating rules of the Australian Clearing House Pty Limited;

  • TARGET2 Settlement Day means any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System is open.

  • Mandatory Settlement Date means the earliest of:

  • Subscription Settlement Date means the second Valuation Date after the Subscription Trade Date, provided that such Valuation Date is not a Disrupted Day and that such Valuation Date is both a Currency Business Day and a Clearing System Business Day.

  • Ontario Settlement Class means the settlement class in respect of the Ontario Action as defined in Schedule A.

  • Day-ahead Settlement Interval means the interval used by settlements, which shall be every one clock hour. Day-ahead System Energy Price:

  • Net Share Settlement On each Settlement Date, Issuer shall deliver to Dealer a number of Shares equal to the Number of Shares to be Delivered for such Settlement Date to the account specified by Dealer and pay cash to Dealer in lieu of any fractional shares valued at the Relevant Price on the Valuation Date corresponding to such Settlement Date. Number of Shares to be Delivered: In respect of any Exercise Date, subject to the last sentence of Section 9.5 of the Equity Definitions, the product of (i) the number of Warrants exercised or deemed exercised on such Exercise Date, (ii) the Warrant Entitlement and (iii)(A) the excess, if any, of the VWAP Price on the Valuation Date occurring on such Exercise Date over the Strike Price, divided by (B) such VWAP Price. The Number of Shares to be Delivered shall be delivered by Issuer to Dealer no later than 4:00 P.M. (local time in New York City) on the relevant Settlement Date.

  • Retail Settlement Code or “Code” means this code approved by the Board and in effect at the relevant time, which, among other things, establishes a distributor’s obligations and responsibilities associated with financial settlement among retailers and consumers and provides for tracking and facilitating consumer transfers among competitive retailers.

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • Call Settlement Date means the fifth Business Day following the last Index Business Day in the Call Measurement Period.

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • Gross Settlement Amount means $633,000.00 which is the total amount Defendant agrees to pay under the Settlement except as provided in Paragraph 9 below. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees, Class Counsel Expenses, Class Representative Service Payment and the Administrator’s Expenses.

  • Viatical settlement broker means a person, including a life insurance producer as provided for in section 508E.3, who, working exclusively on behalf of a viator and for a fee, commission, or other valuable consideration, offers or attempts to negotiate viatical settlement contracts between a viator and one or more viatical settlement providers or one or more viatical settlement brokers. Notwithstanding the manner in which the viatical settlement broker is compensated, a viatical settlement broker is deemed to represent only the viator, and not the insurer or the viatical settlement provider, and owes a fiduciary duty to the viator to act according to the viator’s instructions and in the best interest of the viator. “Viatical settlement broker” does not include an attorney, certified public accountant, or a financial planner accredited by a nationally recognized accreditation agency who is retained to represent the viator and whose compensation is not paid directly or indirectly by the viatical settlement provider or purchaser.

  • Final Settlement Date has the meaning set forth in Section 3.1(e).