Liquidation Trust Assets means the Assets of the Estates as of the Effective Date, including without limitation, the Retained Causes of Action and any proceeds therefrom, except that the Liquidation Trust Assets shall expressly exclude: (i) the Liquidation Trust Claims Reserve, except that any excess amounts in the Liquidation Trust Claims Reserve after the payment in full or other satisfaction of all Allowed Administrative Claims (other than Professional Fee Claims), Priority Tax Claims, Other Priority Claims, and Other Secured Claims shall become Liquidation Trust Assets; and (ii) the Professional Fee Claims Reserve, except that any excess amounts in the Professional Fee Claim Reserve after payment in full or other satisfaction of Allowed Professional Fee Claims, shall become Liquidation Trust Assets.
Liquidation Trust Assets means the Liquidation Trust Causes of Action (including the Transeastern Litigation, the RSUI Insurance Coverage Action and the Remaining Contingent Assets) and the proceeds thereof, and any interest and earnings on such proceeds, which shall be transferred to the Liquidation Trust on the Effective Date.
Liquidation Trust Assets means all of the assets transferred or granted to the Liquidation Trust, consisting of: (i) the Causes of Action; (ii) the Liquidation Trust Proceeds; and (iii) all other Assets of the Debtor.
Examples of Liquidation Trust Assets in a sentence
The Liquidation Trust shall hold and distribute the Liquidation Trust Assets in accordance with the provisions of the Plan and the Liquidation Trust Agreement.
The primary indicator for impairment is when the debt is 90 days or more overdue for that category of debtor.
On the Effective Date, the Liquidation Trustee shall sign the Liquidation Trust Agreement and, in his or her capacity as Liquidation Trustee, accept all Liquidation Trust Assets on behalf of the beneficiaries thereof, and be authorized to obtain, seek the turnover, liquidate, and collect all of the Liquidation Trust Assets not in his or her possession.
Thereupon, and except as expressly provided in the Plan or Liquidation Trust Agreement, the Debtors shall not have any interest in, or with respect to, the Liquidation Trust Assets.
Upon termination of the Liquidation Trust, any remaining Liquidation Trust Assets that exceed the amounts required to be paid under the Plan may be transferred by the Liquidation Trustee to the American Bankruptcy Institute Endowment Fund.
More Definitions of Liquidation Trust Assets
Liquidation Trust Assets means all Assets, including Causes of Action, of the Estates as of the Effective Date.
Liquidation Trust Assets means the assets to be transferred to the Liquidation Trust on the Effective Date including, without limitation, the Liquidation Trust Causes of Action, the Liquidation Trust Reserve, and all other property and assets of the Debtors remaining after segregation of the Cash component of the Unsecured Plan Consideration, including Canadian Proceeds that are payable to the holders of Allowed General Unsecured Claims, reserving for Fee Claims, and payment of Administrative Expense Claims, U.S. Trustee Fees, Priority Tax Claims, Other Priority Claims, Other Secured Claims, First Liens Claims (if applicable), the Cash component of the Second Lien Plan Consideration, including Canadian Proceeds that are payable to the holders of Allowed Second Lien Secured Claims. For the avoidance of doubt, from and after the Effective Date, the Liquidation Trust shall be vested with the right to receive Canadian Proceeds, which amounts shall be distributed in accordance with the terms of this Plan and the Liquidation Trust Agreement.
Liquidation Trust Assets means, collectively, (a) the Liquidation Accounts and (b) the Trust Properties. A schedule of the Liquidation Trust Assets is attached to the Liquidation Trust Agreement and is set forth on Plan Exhibit X.A.143.
Liquidation Trust Assets means (a) the Avoidance Actions (other than causes of action arising under Bankruptcy Code section 549 related to the Prepetition Collateral and any related action under Bankruptcy Code section 550); (b) the Debtors’ commercial tort claims; (c) the Debtors’ claims or Causes of Action against the Debtors’ directors and officers; (d) claims or Causes of Action that may be satisfied by Insurance Policies, each only to the extent such Claims or Causes of Action do not constitute Prepetition Collateral; (e) the Initial Liquidation Trust Funding; (f) the Briarcliff Membership Interests; (g) the GUC Budget Excess; (h) the right to receive Guarantee Proceeds; (i) the right to receive the CBLIC Intercreditor Proceeds; (j) any assets of the Debtors not otherwise distributed or administered under the Plan; and (k) any proceeds or product of the foregoing. Notwithstanding the foregoing, the Liquidation TrustAssets shall not include (i) the Posted Collateral and any Causes of Action relating thereto, (ii) except as otherwise provided herein, the Prepetition Collateral, or (iii) any Cause of Action against the Released Parties.
Liquidation Trust Assets means all assets transferred to the Liquidation Trust from the Debtors or the Wind-Down Trust after satisfaction of (i) all claims senior to Class 6 Claims (in accordance with Article III, Article IV, and the Settlement Agreement) and (ii) all fees and expenses incurred by (and that are the obligation of) the Debtors or Wind-Down Trust in connection with the wind-down. In addition, the GUC Recovery Pool shall be an asset of the Liquidation Trust.
Liquidation Trust Assets means all assets held from time to time by the Liquidation Trust (including Causes of Action), the proceeds of which shall be distributed to the Holders of Liquidation Trust Interests after payment in full of Trust Expenses and any other obligations to the extent set forth in this Plan. The Liquidation Trust Assets shall initially consist of the Distributable Assets.
Liquidation Trust Assets means the assets to be transferred or provided to the Liquidation Trust on or after the Effective Date (as applicable) including, without limitation, the Trust Loan, the UCC Cash Reserve, and the Liquidation Trust Causes of Action. For the avoidance of doubt, the Atascosa County Account, the APA 503(b)(9)/Sale Reserve, and the APA Cash Reserve are not a Liquidation Trust Asset.