Tail Fund definition

Tail Fund means Cash set aside and held by the Debtors for purposes of payment of reasonable administrative costs (including but not limited to the salaries of the Debtors’ board members and officers) prior to dissolution of the Debtors in accordance with the Plan and the Implementation Memorandum, which shall be topped up from the Liquidating Trust Assets as, and to the extent, needed. The Debtors shall provide the Liquidating Trustee with a report of Tail Fund expenditures monthly. Immediately prior to the dissolution of the Debtors, any remaining portion of the Tail Fund shall be transferred to the Liquidating Trust and become part of the Liquidating Trust Assets.
View Source
Tail Fund means Cash set aside and held by the Debtors for purposes of payment of
View Source

Examples of Tail Fund in a sentence

  • If an individual Attending Physician does not have sufficient proceeds from his/her priority or severance claim distribution for such Attending Physician’s required contribution to the Tail Fund, then such Attending Physician must contribute the applicable difference in a cash payment in order to receive the benefit of the “Plan Injunction” as hereinafter defined.

  • Cash amounts from the Tail Fund shall be distributed in the same proportion as the Tail Amount was deposited in the Tail Fund with respect to each Company Holder.

  • The Plan would provide that any and all recoveries on account of such Tail Claims (including any related indemnification claims against SVCMC) will be channeled to and solely paid from the Tail Fund.

  • All contribution amounts received will be placed into an escrow account with the undersigned counsel for the Movants2 and held in such account until the establishment of the Tail Fund as part of the Debtors’ Plan.

  • All Tail Claims against participating Covered Staff and SVCMC would be channeled to the Tail Fund.

  • In such event, the Escrow Agent shall promptly release an amount of cash equal to the Losses set forth in such Tail Notice first, from the Tail Fund and second, to the extent such Losses exceed the funds then held in the Tail Fund, from the Escrow Fund.

  • In exchange for the Debtors’ agreement to seek the establishment of the Temporary Stay Extension, the Tail Fund, Tail Claim Mediation Procedures, and the Plan Injunction, upon the entry of an Order creating the Temporary Stay Extension, the Movants’ Administrative Claim Motion shall be deemed withdrawn without prejudice and upon the entry of a final order approving confirmation of the Plan which includes the Plan Injunction, such withdrawal shall be deemed to be with prejudice.

  • Each party bears its own legal fees, provided however that SVCMC’s legal fees shall also be payable from the Tail Fund.

  • If an Attending Physician elects to opt-out of contributing to the Tail Fund, then such individual will not be entitled to a channeling injunction and the Temporary Stay Extension will immediately terminate as to that individual.

  • Each House Staff Officer will contribute up to $1,000 of his/her priority claim distribution under 11 U.S.C. §507(a)(4)) to the Tail Fund.

Related to Tail Fund

  • Special Fund means any fund other than the city general fund.

  • Sub-Fund means a segregated pool of assets and liabilities into which the Trust Fund is divided, established under the Trust Deed and the relevant supplemental deed as a separate trust as described in the relevant Appendix.

  • Endowment fund means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an endowment fund for its own use.

  • Investment Fund has the same meaning as in National Instrument 81-106 Investment Fund Continuous Disclosure;

  • Local fund means any of the local retirement funds for