Liquidation Trust Interests definition

Liquidation Trust Interests means TOUSA Class 1B General Liquidation Trust Interests, TOUSA Class 1B Transeastern Liquidation Trust Interests, TOUSA Class 2 General Liquidation Trust Interests, TOUSA Class 2 Transeastern Liquidation Trust Interests, TOUSA Class 5A Liquidation Trust Interests, TOUSA Class 5B Liquidation Trust Interests, Conveying Subsidiaries Class 4A Liquidation Trust Interests, Conveying Subsidiaries Class 4B Contingent Liquidation Trust Interests and Conveying Subsidiaries Class 4B Liquidation Trust Interests.

Liquidation Trust Interests means the uncertified beneficial interests in the Liquidation Trust representing the right of each holder of an Allowed Second Lien Secured Claim to receive Cash distributions from the Liquidation Trust on account of such Liquidation Trust Interests in accordance with the terms of this Plan and the Liquidation Trust Agreement.

Liquidation Trust Interests means the interests to be issued to the Holders of Allowed General Unsecured Claims evidencing their interests in the Liquidation Trust and the right to receive distributions therefrom as set forth in the Liquidation Trust Agreement and this Plan. The aggregate sum of the Liquidation Trust Interests shall be allocated to the Holders of General Unsecured Claims against each Debtor Group in accordance with Article V.H of this Plan.

Examples of Liquidation Trust Interests in a sentence

• The record holders of the Liquidation Trust Interests shall be recorded and set forth in a registry maintained by, or at the direction of, the Liquidation Trustee expressly for such purpose.

• Moreover, the Plan Debtors will have, immediately upon the Effective Date, sufficient Cash and Liquidation Trust Interests, as applicable, to make all payments required to11 For the avoidance of doubt, “Intercreditor Settlement Agreement” means the Intercreditor Settlement Agreement attached as Exhibit C to the Plan, as amended, modified or supplemented from time to time, including pursuant to the Amendment No. 1 to Settlement Agreement.be made on the Effective Date pursuant to the terms of the Joint Plan.

• To the extent that the Liquidation Trust Interests constitute “securities,” the exemption provisions of section 1145 of the Bankruptcy Code shall apply to the Liquidation Trust Interests to the maximum extent permitted by law without further act or action by any person.

• Distributions in respect of Liquidation Trust Interests shall be made to Holders of Liquidation Trust Interests as of the record date set for such Distribution.

• All Distributions received under the Plan by Holders of Liquidation Trust Interests and Claims shall be deemed to be allocated first to the principal amount of such Claim, or the Claim to which the applicable Liquidation Trust Interest relates, as determined for United States federal income tax purposes, and then to accrued interest, if any, with respect to such Claim.

More Definitions of Liquidation Trust Interests

Liquidation Trust Interests means the beneficial interests in the Liquidation Trust.

Liquidation Trust Interests means that number of beneficial interests in the Liquidation Trust equal to aggregate number of Allowed Equity Interests as at the Effective Date.

Liquidation Trust Interests means the interests to be distributed to Holders of Allowed Claims in Classes 5 and 7 (if any) under the Plan.

Liquidation Trust Interests means those certain beneficial interests in the Liquidation Trust Assets as set forth in the Liquidation Trust Agreement and the Plan. Ownership of the Liquidation Trust Interests shall be beneficial only and not entitle any such holder to any title in or to the Liquidation Trust Assets as such (which title shall be vested in the Liquidation Trust pursuant to Article XIII hereof) or to any right to call for a partition or division of the Liquidation Trust Assets or to require an accounting.

Liquidation Trust Interests means the uncertificated beneficial interests in the Liquidation Trust representing the right of each holder of an Allowed Bond Deficiency Claims and Allowed Class 8 Non-Settling General Unsecured Claims to receive Distributions from the Liquidation Trust in accordance with Article V of this Plan and the Liquidation Trust Agreement.

Liquidation Trust Interests means each Liquidation Trust Beneficiary’s interests in the Liquidation Trust.

Liquidation Trust Interests means all beneficial interests in the Liquidation Trust, as provided for in the Liquidation Trust Agreement.