Reorganized LMIC definition

Reorganized LMIC means LMIC on and after the effective date of its reorgani- zation to a Massachusetts stock property and casualty insurance company under a mutual holding company structure pursuant to Sections 175:19F to 19W, inclusive, of the Massa- chusetts General Laws.
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Examples of Reorganized LMIC in a sentence

  • In other words, all membership interests in Liberty Mutual Holding Company remain in force only so long as the individual remains a policyholder of Reorganized LMIC.

  • The Massachusetts General Laws also require that the Merger Agreement be approved by a vote of two-thirds of the holders of Reorganized LMIC insurance policies who qualify under Massachusetts law as members of Liberty Mutual Holding Company and who actually vote.

  • As a result, Converted EIOW, Reorganized LMIC and Reorganized LMFIC will become indirect, wholly-owned subsidiaries of Liberty Mutual Holding Company.

  • The fiduciary duties of the directors extend to all members, regardless of whether they are policyholders in Wisconsin, Massachusetts or any other states or jurisdictions where Converted EIOW, Reorganized LMIC and Reorganized LMFIC write policies of insurance.

  • As directors of Liberty Mutual Holding Company, the board will be responsible for carrying out what is in the interest of the policyholders of Reorganized LMIC, Reorganized LMFIC and Converted EIOW who are also the members of Liberty Mutual Holding Company.

  • Reorganized LMIC will continue to indirectly own approximately 72% of LFC, and it is not anticipated that the placement within the holding company system will change.

  • The Global Transaction serves to bring Converted EIOW, Reorganized LMIC and Reorganized LMFIC under the common ownership of Liberty Mutual Holding Company.

  • When Reorganized LMIC issues additional policies, the holders of such policies automatically acquire membership interests in Liberty Mutual Holding Company.

  • The votes that Members currently exercise with respect to matters involving Converted EIOW may be diluted as a result of members of Converted EIOW, Reorganized LMIC and Reorganized LMFIC acquiring equity rights in Liberty Mutual Holding Company.

  • In this scenario, Reorganized LMFIC would become a wholly-owned stock subsidiary of Liberty Mutual Holding Company along with Reorganized LMIC.

Related to Reorganized LMIC

  • Reorganized means, with respect to the Debtors, any Debtor or any successor thereto, by merger, consolidation or otherwise, on or after the Effective Date.

  • Reorganized Company means the Company, as reorganized pursuant to and under the Plan, on and after the Effective Date, or any successor or assign thereof.

  • Reorganized Debtor means a Debtor, or any successor or assign thereto, by merger, consolidation, reorganization, or otherwise, in the form of a corporation, limited liability company, partnership, or other form, as the case may be, on and after the Effective Date.

  • Reorganized Debtors means the Debtors on and after the Effective Date.

  • Liquidation Trust means the trust created pursuant to the Liquidation Trust Agreement on the Effective Date in accordance with the Plan, the Confirmation Order and the Liquidation Trust Agreement.

  • Liquidation Trustee means the trustee appointed jointly by the Debtors and the Creditors’ Committee, and identified in the Plan Supplement, to serve as the liquidation trustee under the Liquidation Trust Agreement, or any successor appointed in accordance with the terms of the Plan and Liquidation Trust Agreement.

  • Liquidating Trustee has the meaning set forth in Section 6.2(a).

  • Liquidating Trust means the liquidating trust maintained by the Trustee holding the Trust Assets of the Partnership, identified as the "PLM Equipment Growth Fund III Liquidating Trust"; also referred to herein as the "Trust."

  • Liquidating Trust Assets means the assets of a Debtor or Debtor-Controlled Entity to be transferred to a Liquidating Trust as may be determined by the Plan Administrator, which shall be described in a Liquidating Trust Agreement.

  • Disbursing Agent means the Reorganized Debtors or the Entity or Entities selected by the Debtors or the Reorganized Debtors, as applicable, to make or facilitate distributions pursuant to the Plan.

  • Reorganization Plan means a plan of reorganization in any of the Cases.

  • Liquidating Agent has the meaning specified in Section 7.2(a).

  • Reorganization Cases means the cases filed by the Debtors under Chapter 11 of the Bankruptcy Code.

  • Creditors’ Committee means the statutory committee of unsecured creditors appointed in the Chapter 11 Cases pursuant to section 1102 of the Bankruptcy Code.

  • Subsidiary Debtors means, collectively, Congoleum Sales, Inc. and Congoleum Fiscal, Inc.

  • CEC means the California Energy Commission or its successor agency.

  • Liquidation Trust Agreement means the Liquidation Trust Agreement to be dated as of the Effective Date establishing the terms and conditions of the Liquidation Trust, substantially in the form attached hereto as Exhibit B.

  • UCA means Utah State Code Annotated 1953 as amended.

  • Subordinated Certificates As specified in the Preliminary Statement.

  • SCC means the Special Conditions of Contract.

  • Virginia venture capital account means an investment fund that has been certified by the

  • DIP Motion means the motion filed by the Debtors seeking entry of the DIP Orders.

  • Chapter 11 Case has the meaning set forth in the Recitals.

  • self-liquidating paper means any draft, xxxx of exchange, acceptance or obligation which is made, drawn, negotiated or incurred by the Company for the purpose of financing the purchase, processing, manufacturing, shipment, storage or sale of goods, wares or merchandise and which is secured by documents evidencing title to, possession of, or a lien upon, the goods, wares or merchandise or the receivables or proceeds arising from the sale of the goods, wares or merchandise previously constituting the security, provided the security is received by the Trustee simultaneously with the creation of the creditor relationship with the Company arising from the making, drawing, negotiating or incurring of the draft, xxxx of exchange, acceptance or obligation.

  • Litigation Trust means the trust to be established on the Plan Implementation Date at the time specified in section 6.4(p) in accordance with the Litigation Trust Agreement pursuant to the laws of a jurisdiction that is acceptable to SFC and the Initial Consenting Noteholders, which trust will acquire the Litigation Trust Claims and will be funded with the Litigation Funding Amount in accordance with the Plan and the Litigation Trust Agreement.

  • Liquidating Trust Agreement means an agreement evidencing the terms and provisions governing a Liquidating Trust that shall be entered into prior to the establishment of such Liquidating Trust and pursuant to which a Liquidating Trustee shall manage and administer Liquidating Trust Assets.