Examples of Liquidating Trust Expenses in a sentence
If the Insurance Settlement is approved the fees and expenses of Stretto in performing the Stretto Claims Reconciliation Work shall be deemed part of the Covered Claims Allowance Process and shall be paid as Liquidating Trust Expenses.
If the Liquidating Trust Expenses are not paid, the Liquidating Trustee may refuse to continue to perform its services as set forth in the Liquidating Trust Agreement and the Liquidating Trust may not be maintained in accordance therewith as a result.
All Liquidating Trust Expenses shall be funded fromthe Fund B Assets within the Fund B – Covered Claims Fund other than as specifically provided in the Byline- Covered Claim Settlement.
The Liquidating Trust Agreement generally will provide for, among other things: (i) the transfer of the Liquidating Trust Assets to the Liquidating Trust; (ii) the payment of certain reasonable expenses of the Liquidating Trust from Liquidating Trust Assets; and (iii) distributions to holders of Liquidating Trust Interests from the proceeds of Liquidating Trust Assets, net of Liquidating Trust Expenses, as provided herein and in the Liquidating Trust Agreement.
On the Effective Date, and after making all Distributions required to be made on the Effective Date under the Plan, the Liquidating Trustee shall establish and maintain a separate reserve (each, a “Reserve”) for the estimated amount of the Liquidating Trust Expenses, as well as each Class of Claims and Unclassified Claims, which Reserve shall be administered by the Liquidating Trustee.