Examples of Settlement Claimant in a sentence
Each holder of a Secured Asbestos Claim of a Qualified Pre-Petition Settlement Claimant in Class 2 is entitled to vote to accept or reject the Plan under sections 524(g) and 1126 of the Bankruptcy Code.
Each such Qualified Pre-Petition Settlement Claimant will, in respect of its Secured Asbestos Claim (except to the extent that such Claim has been expunged), be paid by the Plan Trust, in full satisfaction, settlement, release, and discharge of and in exchange for such Claim, in Cash in accordance with the provisions of the Plan Documents.
In order to become a Settlement Claimant eligible for a settlement payment pursuant to Section II.A, Class Members must submit a timely Settlement Claim pursuant to the Settlement Claim Process during the Settlement Claim Period, and the Class Action Settlement Administrator shall review and evaluate the Settlement Claim.
Each Qualified Pre-Petition Settlement Claimant will be paid in Cash by the Plan Trust in accordance with the provisions of the Asbestos Settlement Documents, the Plan, the Plan Trust Agreement and TDP.
Pursuant to the Plan, any Pre-Petition Settled Claimant that is not a Litigation Settlement Claimant shall nevertheless receive the same treatment as the Litigation Settlement Claimants.
The Secured Asbestos Claims of Qualified Pre-Petition Settlement Claimants are secured to the full extent of their liquidated settlement amounts, as determined under the Collateral Trust Agreement and the respective Pre-Petition Settlement Agreement; provided, however, the Plan provides that each Qualified Pre-Petition Settlement Claimant will forbear from exercising or enforcing such security interest and Congoleum has challenged the validity of such security interests in the Omnibus Avoidance Action.
Each Qualified Pre-Petition Settlement Claimant shall release his, her or its rights, if any, to hold, exercise or enforce any lien, security interest or payment priority under the respective Pre-Petition Settlement Agreements and his, her or its rights, if any, to hold, exercise or enforce any lien, security interest or payment priority under the Collateral Trust Agreement and the Security Agreement in and to the Plan Trust Assets.
If the Settlement Claimant does not timely comply and/or is unable to timely produce documents to substantiate and/or verify the information on the Settlement Claim Form or the Settlement Claim is otherwise not approved for any reason set forth in the Settlement Claim Review Protocol, the Settlement Claim shall be disqualified.
Furthermore Ontario shall have the right to review and audit the Claim Forms and supporting records and information relating thereto in respect of Claims which have been approved by the Claims Administrator, and to provide a response to any Claim Form to the Claims Administrator within 60 days of Ontario receiving such Claim Form confirming whether or not the Claim is on behalf of a Settlement Claimant via secure email.
Subject to paragraphs 8, 9, 10 and 11 below, each Settlement Claimant who has been determined under the Claims Process to have been a victim of an Assault shall be entitled to one payment of $3,000 (the “Settlement Payment”) and may proceed with their claims as set out in paragraphs 17 and 18 of this Settlement Agreement.