OCD/FB Settlement definition

OCD/FB Settlement means a global settlement of various issues and potential claims by and between Fibreboard, on the one hand, and OCD, on the other hand, pursuant to which, among other things, upon the Effective Date, (i) the FB Sub-Account Settlement Payment shall be made by OCD to the FB Sub-Account, (ii) the FB/OC Asbestos Settlement Payment shall be made to the FB Sub-Account from the distribution that would otherwise have been made to the OC Sub-Account, and (iii) the assets distributable to the FB Sub-Account shall be limited to those described in Section 3.4(d) below, and (iii) holders of Allowed Class B6 and B10 Claims shall be paid in full (excluding post-petition interest).
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Examples of OCD/FB Settlement in a sentence

  • Thus, the establishment of the OCD/FB Settlement is the product of negotiation and compromise concerning matters involving several factors which are difficult to quantify or value.

  • The Plan Proponents believe the OCD/FB Settlement (including the FB Sub-Account Settlement Payment and the FB/OC Asbestos Settlement Payment) represents a fair and equitable resolution of all issues concerning the source of payment to the holders of FB Asbestos Personal Injury Claims and the agreement for these holders not to assert any claims against OCD (or any of its affiliates other than Fibreboard).

  • The OCD/FB Settlement is premised in part upon the assumption that, prior to the acquisition of Fibreboard by OCD, additional assets were available to pay the FB Asbestos Personal Injury Claims, but the subsequent corporate restructuring, asset swaps, and guaranties of the 1997 Credit Agreement left Fibreboard without any material assets to pay FB Asbestos Personal Injury Claims other than the Existing Fibreboard Insurance Settlement Trust Assets, the FB Reversions and the Committed Claims Account.

  • The OCD/FB Settlement is premised in part upon the assumption that, prior to the acquisition of Fibreboard by OCD, additional assets were available to pay the FB Asbestos Personal Injury Claims, but the subsequent corporate restructuring, asset swaps, and guaranties of the 1997 Credit Agreement left Fibreboard without any material assets to pay FB Asbestos Personal Injury Claims other than the Existing Fibreboard Insurance Settlement Trust Assets and the Committed Claims Account.

Related to OCD/FB Settlement

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • Cash Settlement shall have the meaning specified in Section 14.02(a).

  • Final Settlement means permanent settlement of the Contractor’s actual allowable costs or expenditures as determined at the time of audit, which shall be completed within three years of the date the year-end cost settlement report was accepted for interim settlement by the State. If the audit is not completed within three years, the interim settlement shall be considered as the final settlement.

  • Share Settlement means a number of shares of Class A Common Stock equal to the number of Redeemed Units.

  • Net Share Settlement means the settlement method pursuant to which an exercising Warrantholder shall be entitled to receive from the Company, for each Warrant exercised, a number of shares of Common Stock equal to the Net Share Amount without any payment therefor.

  • Combination Settlement shall have the meaning specified in Section 14.02(a).

  • Physical Settlement shall have the meaning specified in Section 14.02(a).

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • Call Settlement Date means the fifth Business Day following the last Index Business Day in the Call Measurement Period.

  • securities settlement system means a securities settlement system (as defined in the CSD Regulation) operated by a central securities depository;

  • Early Settlement has the meaning specified in Section 5.9(a).

  • TARGET2 Settlement Day means any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System is open.

  • Master Settlement Agreement means the settlement agreement and related documents entered into on November 23, 1998 by the state and leading United States tobacco product manufacturers;

  • Gross Settlement Amount means $633,000.00 which is the total amount Defendant agrees to pay under the Settlement except as provided in Paragraph 9 below. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees, Class Counsel Expenses, Class Representative Service Payment and the Administrator’s Expenses.

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • Final Settlement Date has the meaning set forth in Section 2.4(c).

  • Mandatory Settlement Date means the earliest of:

  • ASTC Settlement Rules means the operating rules of ASTC and, to the extent that they are applicable, the operating rules of ASX and the operating rules of the Australian Clearing House Pty Limited;

  • Net Settlement Fund means the Settlement Fund less: (i) any Taxes;

  • Cash Settlement Date means, for each Financially Settled Futures Transaction, the Business Day determined by Exchange from time to time in accordance with industry practice for such Transaction, as posted on Exchange’s Website not less than one month prior to the occurrence of such date, other than Invoices issued as a result of a Contracting Party’s Default or under the Close- out Procedure which amounts require payment immediately;