Examples of MEPP Claim in a sentence
The Requisite Members of the Noteholder Steering Committee shall have reasonable approval rights over the settlement of any material Claim, including but not limited to, any such settlement related to the MEPP Claim (whether in the Chapter 11 Cases by the Bankruptcy Court or through arbitration of the MEPP Claim) above the amounts held in reserve by the Debtors for such MEPP Claim.
On September 26, 2016, the 1974 Pension Plan filed a motion to lift the automatic stay so as to allow the MEPP Claim to be adjudicated through arbitration, not the claims administration process outlined by the Bankruptcy Code, as articulated in the Stipulation (the "1974 Pension Plan Lift-Stay Motion").
Without limiting the foregoing in any respect, the claims and controversies compromised and settled pursuant to this Plan include: (a) the CNTA Dispute; (b) the Creditors’ Committee Alleged Causes of Action; (c) all of the Debtors’ preference actions under section 547 of the Bankruptcy Code; (d) the reconciliation, recognition and treatment of Intercompany Claims; and (e) resolution of the MEPP Claim.
The MEPP Claim shall be resolved pursuant to a Stipulation of Amount and Nature of Claim or otherwise resolved by the Bankruptcy Court in a manner satisfactory to the Debtors, subject to the Creditor Approval Rights (as applicable).
On August 15, 2016, the 1974 Pension Plan filed Claim number 4722 asserting a general unsecured claim against all Debtors in the total amount of approximately $642.7 million (the "MEPP Claim").
On January 25, 2017, the 1974 Pension Plan and the Debtors agreed to a settlement (the "MEPP Settlement") of the MEPP Claim whereby the 1974 Pension Plan will be entitled to a claim in Class 7 of $75 million to be paid in Cash over a period of fourfive years as follows: $5 million upon emergence, $10 million paid 90 days after emergence, $15 million paid one year after the last payment and $15 million a year for the following 3 years.
Except with respect to the United Mine Workers of America 1974 Pension Plan and Trust (which is not a Pension Plan) and the MEPP Claim (which shall be treated and discharged in accordance with the terms of the Plan), no provision contained herein or section 1141 of the Bankruptcy Code shall be construed as discharging, releasing or relieving any party from liability it may have with respect to the Pension Plans under any law, governmental policy or regulatory provision.
The Requisite First Lien Lender Co-Proponents and the Requisite Members of the Noteholder Steering Committee shall have reasonable approval rights over any material Claim settlement, including but not limited to, any settlement related to the MEPP Claim above the amounts held in reserve by the Debtors for such MEPP Claim.
LA HMGP SPECIFIC: Repair, replacement, upgrade or installation of culverts and arches beneath roads or within associated roadway drainage ditches, including any modest increase in capacity for mitigation purposes or to meet current codes and standards, provided that activities will not disturb previously undisturbed soils.
The arbitration of the MEPP Claim took place on December 19, 2016 through December 21, 2016.