Proceed Assets definition

Proceed Assets means those assets of the Debtor’s bankruptcy estate designated by the Class Representatives which are set forth on Exhibit F to the Plan, (i) which the Legal Representatives shall be responsible to administer and liquidate and (ii) the net proceeds of which shall be irrevocably channeled and assigned to the Trust.
Proceed Assets means those assets set forth on a schedule that will be available at the Confirmation Hearing which are designated by the Class Representative and the proceeds of which are hereby assigned and channeled, net of any applicable tax liability accruing to the Legal Representative and/or the Post-Confirmation Debtor as a result of the collection of such proceeds, to the Trust for the benefit of the Class Members.

Examples of Proceed Assets in a sentence

  • In accordance with Section 1123(b) of the Bankruptcy Code, the Trust or the Post-Confirmation Debtor shall exclusively enforce any claims, rights and Causes of Action or Proceed Assets, as the case may be, that the Debtor or the Estate may hold against any Person or Entity that are not released or discharged by or pursuant to this Plan.

  • For all federal income tax purposes, all parties (including, without limitation, the Debtor, the Trustee and the Class Members) shall treat the transfer of the Causes of Action and the proceeds of the Proceed Assets by the Trust in accordance with the terms of this Plan as a transfer by the Debtor to the Class Members followed by a transfer by the Class Members to the Trust, and the Class Members shall be treated as the grantors and owners thereof.

  • The Debtor and the Post-Confirmation Debtor shall execute such documents and take such actions as are necessary to effect the transfer of the Causes of Action and the proceeds of the Proceed Assets to the Trust in accordance with this Section 5.04.

  • The transfer of the Causes of Action and proceeds of the Proceed Assets to the Trust shall be made, as provided herein, for the benefit of the Class Members.

  • Pursuant to the order of the District Court, there is hereby created a trust which shall be known as the “AremisSoft Liquidating Trust” (the “Trust”), which is the Trust created by the Plan and the Individual Trustees of which also shall serve as the legal representatives of the Debtor’s bankruptcy estate for the purpose of liquidating the Proceed Assets (in such capacity, the “Legal Representatives”).

  • Except in their capacity as Legal Representatives with respect to the Proceed Assets, the Individual Trustees shall not be deemed successors to the Debtor, and any liability resulting from such successor capacity with respect to the Proceed Assets shall be solely the responsibility of the Debtor.

  • The Legal Representative shall administer the Proceed Assets as provided in Section 5.04.

  • The Legal Representative shall be deemed authorized to take all further actions for the Post-Confirmation Debtor with respect to the Proceed Assets.

  • The Trust is organized for the primary purpose of litigating the Trust Claims, distributing the proceeds of the Trust Claims and the Proceed Assets to the Class Members and liquidating its assets for the benefit of the Class Members, all in accordance with Treasury Regulation Section 301.7701-4(d), with no objective to continue or engage in the conduct of a trade or business except to the extent reasonably necessary to, and consistent with, the liquidating purpose of the Trust.

  • Under the Plan, the Individual Trustees will be appointed as Legal Representatives of the post-confirmation Debtor, solely with respect to the administration of the Proceed Assets and other ancillary duties assigned under the Plan.

Related to Proceed Assets

  • Conveyed Assets shall have the meaning set forth in Section 2.01.

  • Leased Assets shall have the meaning ascribed thereto in Section 3.6.

  • Included Assets has the meaning in Section 5.1(d)(ii)(A).

  • Purchased Assets has the meaning set forth in Section 2.1.

  • Excluded Assets has the meaning set forth in Section 2.2.

  • Retained Assets has the meaning set forth in Section 2.2.

  • Acquired Assets has the meaning set forth in Section 2.1.

  • Related Assets Any assets held by a Trust the return of which is linked to one or more Underlying Securities and which, if applicable, shall be described in the related Supplement or a schedule thereto.

  • Transferred Assets means the assets, rights and properties of the Sellers that the Purchasers shall acquire as of the Closing.

  • Qualified Assets means any of the following assets: (i) interests, rights, options, warrants or convertible or exchangeable securities of the Partnership; (ii) Debt issued by the Partnership or any Subsidiary thereof in connection with the incurrence of Funding Debt; (iii) equity interests in Qualified REIT Subsidiaries and limited liability companies (or other entities disregarded from their sole owner for U.S. federal income tax purposes, including wholly owned grantor trusts) whose assets consist solely of Qualified Assets; (iv) up to a one percent (1%) equity interest in any partnership or limited liability company at least ninety-nine percent (99%) of the equity of which is owned, directly or indirectly, by the Partnership; (v) cash held for payment of administrative expenses or pending distribution to security holders of the General Partner or any wholly owned Subsidiary thereof or pending contribution to the Partnership; and (vi) other tangible and intangible assets that, taken as a whole, are de minimis in relation to the net assets of the Partnership and its Subsidiaries.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Specified Assets the following property and assets of such Grantor:

  • Hotel Property means a Property on which there is located an operating hotel.

  • Gaming Equipment means any and all gaming devices, gaming device parts inventory and other related gaming equipment and supplies used in connection with the operation of a casino, including (without limitation), slot machines, gaming tables, cards, dice, chips, tokens, player tracking systems, cashless wagering systems, electronic betting systems, mobile gaming systems and associated equipment which are located at the Casino Components, owned or leased by Operating Company or Mortgage Borrower and used or useable exclusively in the present or future operation of slot machines and live games at the Casino Component, together with all improvements and/or additions thereto.

  • Real Estate Assets means any investment by the Company or the Operating Partnership in unimproved and improved Real Property (including fee or leasehold interests, options and leases), directly, through one or more subsidiaries or through a Joint Venture.

  • The Properties means and refer to all such existing properties, and additions thereto, as are subject to this Declaration or any Supplemental Declaration under the provisions of Article II hereof.

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  • Contributed Assets shall have the meaning as set forth in Section 2.2.

  • Operating Assets means all merchandise inventories, furniture, fixtures and equipment (including all transportation and warehousing equipment but excluding office equipment and data processing equipment) owned or leased pursuant to Capital Leases by the Company or a Restricted Subsidiary.

  • Gross estate means the gross estate, for federal estate tax purposes.

  • Sale Assets is defined in Section 5.2(a)(ii).

  • Permitted Assets means any and all properties or assets that are used or useful in a Permitted Business (including Capital Stock in a Person that is a Restricted Subsidiary and Capital Stock in a Person whose primary business is a Permitted Business that shall become a Restricted Subsidiary immediately upon the acquisition of such Capital Stock by the Issuer or by a Restricted Subsidiary, but excluding any other securities).

  • Real Estate-Related Assets means any investments by the Company or the Operating Partnership in Mortgages and Real Estate-Related Securities.

  • IP Assets means all Intellectual Property owned or used by or purported to be owned or used by the Group Companies.

  • Receivables Related Assets means accounts receivable, instruments, chattel paper, obligations, general intangibles and other similar assets, in each case relating to receivables subject to the Permitted Receivables Facility, including interests in merchandise or goods, the sale or lease of which gave rise to such receivables, related contractual rights, guaranties, insurance proceeds, collections and proceeds of all of the foregoing.

  • District Property means all property owned by the District including, but not limited to, the Amenity Centers, common areas, parking lots and ponds.