Examples of Wildfire Claims in a sentence
The Debtors shall only use the proceeds of an Equity Offering to fund obligations to holders of Wildfire Claims under the Plan.
The Parties also agree that they shall not take the position in any public communication that the amount of the Settlement Payment or the Plan Treatment are not a reasonable amount to fully liquidate, settle and resolve all the Plan Support Public Entities’ Wildfire Claims in a confirmed plan.
Subject to payment in full by the Company of the Settlement Payment to Baron & Budd’s Trust Account, in addition to the Public Entity Releasing Parties providing full and complete releases in favor of the Released Parties, any and all of the Supporting Public Entity’s Wildfire Claims shall be deemed satisfied, released and discharged in accordance with Section 1141 of the Bankruptcy Code and other applicable law, and forever barred to the fullest extent permitted by law (collectively, the “Plan Release”).
The Plan filed by the Debtors shall include Abrams and Knighthead as plan proponents with the Debtors and be in a form reasonably acceptable to Abrams, Knighthead, and the Debtors, which Plan shall provide for substantially the same classification and treatment, including releases, of all Claims (other than Holdco Other Wildfire Claims and Utility Other Wildfire Claims) as provided in the Debtors’ Joint Chapter 11 Plan of Reorganization filed with the Bankruptcy Court on November 4, 2019.
The Subrogation Wildfire Trustee and all holders of Subrogation Wildfire Claims shall report consistently with the foregoing.
The TCC RSA provides for, among other things, an aggregate of $13.5 billion in value to be provided by the Debtors pursuant to the Proposed Plan in order to settle and discharge all claims against the Debtors relating to the 2015 Butte fire, the 2017 Northern California wildfires and the 2018 Camp fire (other than the Subrogation Claims and the Public Entity Wildfire Claims) (the “Fire Victim Claims”), upon the terms and conditions set forth in the TCC RSA and the Proposed Plan.
If the Bankruptcy Court does not approve the RSA on or prior to October 16, 2019, then (i) the Wildfire Claims Cap shall be reduced to $17.9 billion (it being understood that such amount will continue to be subject to the proviso in Section 5(j) for purposes of Section 5(j)) and (ii) the Debtors shall amend the Plan to be in the form of the Plan prior to making the Specified Plan Amendment.
On the Effective Date, the Debtors’ liability for all Utility Subrogation Wildfire Claims shall be fully assumed by, and be the sole responsibility of, the Subrogation Wildfire Trust, Weil, Gotshal & Manges LLP 767 Fifth Avenue New York, NY 10153-0119 and all such Claims shall be satisfied solely from the assets of the Subrogation Wildfire Trust.
Utility Other Wildfire Claims shall be satisfied solely from the Other Wildfire Claims Estimation Consideration.
In accordance with the Subrogation Wildfire Trust Agreement and the Subrogation Wildfire Trust Claims Resolution Procedures, the Subrogation Wildfire Trust shall administer, process, settle, resolve, liquidate, satisfy, and pay all Subrogation Wildfire Claims.