Liquidated Sites definition
Examples of Liquidated Sites in a sentence
The Settling Federal Agencies, the Settling California Agencies, the State of Illinois Natural Resource Trustees, and the Settling Michigan Agencies shall receive no distributions from the Debtors in the Bankruptcy Cases with respect to the Debtors’ liabilities asserted in the aforementioned proofs of claim with respect to the Liquidated Sites other than as set forth in this Paragraph and Paragraph 5.
EPA, the States, and the Debtors shall take all appropriate steps under each financial assurance instrument to release all financial assurance maintained by the Debtors at Liquidated Sites or Transferred Real Properties, as listed in Exhibit E to this Settlement Agreement, within thirty days after the Debtors transfer all funds pursuant to Sections VI and XI of this Settlement Agreement.
The “matters addressed” in this Settlement Agreement do not include claims against any of the Debtors for liquidated past response costs incurred prior to the Petition Dates and included in proofs of claim filed in any of the Bankruptcy Cases by potentially responsible parties with respect to any of the Liquidated Sites or Transferred Real Properties.
To the extent that excess insurance proceeds are allocable to sites other than Liquidated Sites, no payment need be made to the United States, the Settling California Agencies, the State of Illinois Natural Resource Trustees, or the Settling Michigan Agencies from the excess insurance proceeds allocable to sites other than Liquidated Sites.
However, under no circumstances, may the payments required to be made under this Paragraph, when combined with the consideration received for the Liquidated Sites by the Settling Federal Agencies, the Settling California Agencies, the State of Illinois Natural Resource Trustees, or the Settling Michigan Agencies under Paragraphs 4 and 33 of this Settlement Agreement, exceed the amount of the Allowed General Unsecured Claims for the Liquidated Sites under Paragraph 4.
The Debtors agree to allocate in writing any excess insurance proceeds on a fair and equitable basis among sites between Liquidated Sites and other sites based upon all of the facts and circumstances including, but not limited to, any defenses asserted by insurers, and with deference to any allocation by a court or in an approved settlement document.
In determining the Debtors’ cost of pursuing insurance proceeds for Liquidated Sites, the Debtors shall use the same percentage allocation of costs as is used in the Debtors’ allocation of recovery of excess insurance proceeds attributed to Liquidated Sites.
In settlement and satisfaction of the Claims of the PRPs with respect to the PRP Liquidated Sites, the PRPs shall have Allowed General Unsecured Claims or Allowed Convenience Claims, as designated below, in the amounts set forth below.
The United States, on behalf of EPA, may, in its sole discretion, direct any portion of the proceeds of any non-cash distribution received on account of an Allowed General Unsecured Claim for EPA Liquidated Sites into the EPA Hazardous Substance Superfund or site-specific special accounts within the EPA Hazardous Substance Superfund established to fund response actions at EPA Liquidated Sites in the event that future work is anticipated at such sites.
In settlement and satisfaction of the Claims of the United States under CERCLA, RCRA, and all Similar State Laws with respect to the EPA Liquidated Sites, the United States shall have Allowed General Unsecured Claims in the amounts set forth below.