Litigation Trust Payment definition
Litigation Trust Payment means a one-time, non-refundable payment of $500,000 in Cash to be provided by the Restructuring Support Parties to the Litigation Trust on the Effective Date, which payment shall be used either to fund a distribution to Holders of Litigation Trust Interests or to provide funding in connection with the investigation and/or prosecution of the Litigation Trust Causes of Action.
Litigation Trust Payment means that certain payment in the amount of $250,000 to be made by the Post-Confirmation Debtors to the Litigation Trustee out of the Settlement Escrow on the Effective Date or as soon thereafter as is practicable, as agreed between the Litigation Trustee and the Creditors’ Committee in connection with the UCC-LT Settlement .
Examples of Litigation Trust Payment in a sentence
Upon paying the Proceeds Amount, the Payment Trust shall provide written notice of the amount of the Proceeds Amount to the Litigation Trust ("Payment Notice").