Asbestos trust definition

Asbestos trust means a government-approved or court-approved trust, qualified settlement fund, compensation fund, or claims facility created as a result of an administrative or legal action, a court-approved bankruptcy, or pursuant to 11 U.S.C. 524(g), 11 U.S.C. 1121(a), or other applicable provision of law intended to provide compensation to claimants arising out of, based on, or related to the health effects of exposure to asbestos.

Asbestos trust means a government-approved or

Asbestos trust means a government-approved or court-approved trust, qualified

Examples of Asbestos trust in a sentence

• To date, the amount of cash funds paid out by the Debtors in connection with Asbestos Claims is less than the amount to be contributed by the Debtors to the Asbestos Trust.

• The Asbestos Trustee shall have and perform all duties, responsibilities, rights and obligations set forth in the Asbestos Trust Agreement.

• The indemnification provisions of the Asbestos Trust Agreement shall remain available to and be binding upon any future Asbestos Trustee or the estate of any decedent Asbestos Trustee and shall survive the termination of the Asbestos Trust Agreement.

• To the extent that the Asbestos Trust must indemnify and hold harmless the Indemnified Parties as provided above, the legal fees and related costs incurred by counsel to the Asbestos Trustee in monitoring and participating in the defense of such claims giving rise to the right of indemnification shall be paid out of the Asbestos Trust.

• The Asbestos Trust shall remain in existence until dissolved by the Asbestos Trustee, and upon termination, any remaining assets of the Asbestos Trust shall revert and be paid over to the SWE&C Liquidating Trust.

More Definitions of Asbestos trust

Asbestos trust means the GST Settlement Facility, a Delaware statutory trust, established pursuant to Section 524(g) of the Bankruptcy Code and in accordance with the Asbestos Trust Agreement.

Asbestos trust means a trust, qualified settlement fund, compensation fund, or claims facility created as a result of an administrative or legal action, bankruptcy, agreement, or other settlement or pursuant to11 USC 524 (g) or 49 USC 40101, that is intended to provide compensation to claimants alleging per- sonal injury claims as a result of harm, also potentially compensa- ble in the immediate action, for which the entity creating the trust, qualified settlement fund, compensation fund, or claims facility is alleged to be responsible.

Asbestos trust means the GST Settlement Facility, a Delaware statutory trust, established pursuant to Section 524(g) of the Bankruptcy Code of the United States in accordance with the Modified Joint Plan of Reorganization.

Asbestos trust means the segregated trust fund established pursuant to the Asbestos Trust Agreement.

Asbestos trust means a trust, qualified settlement fund, compensation fund or claims facility that is created as a result of an administrative or legal action, bankruptcy, agreement or other settlement or pursuant to 11 United States Code section 524(g) and that is intended to provide compensation to claimants alleging personal injury claims as a result of harm, also potentially compensable in the immediate action, for which the entity creating the trust, qualified settlement fund, compensation fund or claims facility is alleged to be responsible.

Asbestos trust means the tax-qualified settlement trust to be established pursuant to the Asbestos Trust Agreement.

Asbestos trust means the Federal-Mogul Asbestos Personal Injury Trust.