PT Cash definition
PT Cash means Cash in an amount to be determined by the Creditors’ Committee and the Exit Lender (and which shall be reasonably acceptable to the PT Beneficiary) to fund the initial administrative expenses of the Property Trust related to a PT Property, which Cash shall be provided by the Liquidating Trust to the Property Trust from Available Cash or the proceeds of the Liquidating Trust Promissory Note on the date that such PT Property is transferred to the Property Trust.
Examples of PT Cash in a sentence
The Trust Company shall be reimbursed from the PT Cash for its reasonable expenses (including reasonable attorneys’ fees) incurred in the performance of its duties as the PT Trustee hereunder.
The PT Cash may be funded from proceeds of the Liquidating Trust Promissory Note.
After the transfer of the PT Cash, the Liquidating Trust shall have no further obligation to provide any additional Cash to the Property Trust.
On the Effective Date, the Liquidating Trust will fund the Property Trust with the PT Cash in the amount of $[ ].