Initial Payment Percentage definition
Examples of Initial Payment Percentage in a sentence
Because of the increased uncertainty during the initial period of the Plan Trust's operation, the Initial Payment Percentage is particularly susceptible to review and modification as the Plan Trust accumulates necessary and relevant data.
The Initial Payment Percentage shall be determined by the Plan Trustees with the consent of the TAC and the Futures Representative as soon as practicable following the Effective Date.
At the Effective Time, each share of ARACOR Common Stock shall be converted into the right of its owner to receive the applicable Initial Payment Percentage of the Initial Payment net of Other Fees and the right to receive certain Contingent Payments if any.
During the first two years after the Effective Date, the Trustees shall only pay non-Prepetition Claims filed before the Bar Date electing Individualized Review under the APICRP and Category 2 and Category 3 Claimants electing payment deferral under the APDCRP on an installment basis with an initial payment determined by the Initial Payment Percentage in Article 1 of the Plan times fifty (50%) percent of the Allowed Amount of the Claim.
Claims that are liquidated and Allowed during the first two (2) years following the Effective Date, but after a decision by the Trustees to reduce the Initial Payment Percentage to a new Payment Percentage, shall receive payments in the future, in installments or otherwise (but for a period no longer than ten (10) years after the date of liquidation and Allowance), equal to any increase in the Payment Percentage, CLOSING BINDER INDEX TAB NO.
Because of the initial uncertainties about assets and liabilities, during the first two years after the Effective Date, the Trustees shall only pay Prepetition Claimants electing Individualized Review under the APICRP and Category 1 Claimants electing payment deferral under the APDCRP on an installment basis with an initial payment determined by the Initial Payment Percentage in Article 1 of the Plan times fifty (50%) percent of the Allowed Amount of the Claim.
At the Effective Time, each ARACOR Stock Option outstanding immediately prior to the Effective Time shall be converted into the right of the ARACOR Optionholder to receive the applicable Initial Payment Percentage of the Initial Payment net of Other Fees and the right to receive certain Contingent Payments if any.
If the Trustees conclude that use of the Initial Payment Percentage will adversely affect the interests of future claimants or present claimants who have not yet been liquidated and Allowed, the Trustees shall either suspend payments until they are able to determine an appropriate Payment Percentage, or exercise their powers as set forth herein and in the CRP.
During the first two years following the Effective Date, while these matters are particularly uncertain, the Trust can and shall rely upon the calculation of the Initial Payment Percentage, as described in the Plan and use the Initial Payment Percentage in paying (i) Prepetition Liquidated Claims or claims under the Individualized Review Process pursuant to the APICRP and (ii) PD Claims liquidated and Allowed prior to the Effective Date which shall be paid within six (6) months of the Effective Date.
H.1 Initial Payment Percentage: 85 per cent of the Notified (See Condition 9.2 and Value of Approved Debts.