Post-Effective Date Major Settlement definition

Post-Effective Date Major Settlement means any allowance, settlement, release, withdrawal or other resolution of a pending objection, abandonment, sale, or other disposition of any Administrative, Priority, Priority Tax, Other Priority, Secured, Other Secured, Senior, Consignment, or Reclamation Claim or a Right of Action (other than Preference Actions) in which the asserted amount in controversy exceeds $100,000.

Examples of Post-Effective Date Major Settlement in a sentence

  • As a condition to the validity and effectiveness of any Post-Effective Date Major Settlement (including without limitation allowance of Senior Claims), the Responsible Person shall file a notice in the Chapter 11 Cases that provides fifteen (15) days’ written notice of such proposed Post-Effective Date Major Settlement.

  • Any party in interest shall have standing to object to any Post-Effective Date Major Settlement.

  • If an objection to any such Post-Effective Date Major Settlement is timely filed, and the objection cannot be consensually resolved, the Bankruptcy Court shall adjudicate the matter.

  • If no objection is filed and/or served on the Responsible Person within fifteen (15) days following the filing date of such notice, all parties in interest shall be deemed to have consented to such Post-Effective Date Major Settlement.

Related to Post-Effective Date Major Settlement