Claims Paid by Third Parties Contract Clauses (16)

Grouped Into 1 Collection of Similar Clauses From Business Contracts

This page contains Claims Paid by Third Parties clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Claims Paid by Third Parties. The Debtors or the Reorganized Debtors, as applicable, shall reduce in full a Claim, and such Claim shall be disallowed without a Claim objection having to be Filed and without any further notice to or action, order, or approval of the Bankruptcy Court, to the extent that the Holder of such Claim receives payment in full on account of such Claim from a party that is not a Debtor or a Reorganized Debtor. Subject to the last sentence of this paragraph, to the extent a Holder of a Claim receives a ...distribution on account of such Claim and receives payment from a party that is not a Debtor or a Reorganized Debtor on account of such Claim, such Holder shall, within fourteen (14) days of receipt thereof, repay or return the distribution to the applicable Reorganized Debtor, to the extent the Holder's total recovery on account of such Claim from the third party and under the Plan exceeds the amount of such Claim as of the date of any such distribution under the Plan. The failure of such Holder to timely repay or return such distribution shall result in the Holder owing the applicable Reorganized Debtor annualized interest at the Federal Judgment Rate on such amount owed for each Business Day after the 14-day grace period specified above until the amount is repaid. View More Arrow
Found in Tailored Brands, Inc. contract
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Claims Paid by Third Parties. The WLB Debtors or the Reorganized Debtors, as applicable, shall reduce in full a Claim, and such Claim shall be disallowed without a Claim Claims objection having to be Filed and without any further notice to or action, order, or approval of the Bankruptcy Court, to the extent that the Holder of such Claim receives payment in full on account of such Claim from a party that is not a Debtor or a Reorganized WLB Debtor. Subject to the last sentence of this paragraph, to the extent a Holder of a Cl...aim receives a distribution on account of such Claim and receives payment from a party that is not a Debtor or a Reorganized WLB Debtor on account of such Claim, such Holder shall, within fourteen (14) 14 days of receipt thereof, repay or return the distribution to the applicable Reorganized Debtor, WLB Debtors to the extent the Holder's total recovery on account of such Claim from the third party and under the Plan exceeds the amount of such Claim as of the date of any such distribution under the Plan. The failure of such Holder to timely repay or return such distribution shall result in the Holder owing the applicable Reorganized Debtor WLB Debtors annualized interest at the Federal Judgment Rate on such amount owed for each Business Day after the 14-day grace period specified above until the amount is repaid. View More Arrow
Found in WESTMORELAND COAL Co contract
Claims Paid by Third Parties. The Debtors To the extent that the holder of an Allowed Claim receives payment in full on account of such Claim from a party that is not a Debtor, a Reorganized Debtor, or the Reorganized Debtors, as applicable, shall reduce in full a Claim, and GUC Trust, such Claim shall be disallowed Disallowed without a Claim an objection having to be Filed and without any further notice to or action, order, or approval of the Bankruptcy Court, to the extent that the Holder of such Claim receives payment in ...full on account of such Claim from a party that is not a Debtor or a Reorganized Debtor. Subject to the last sentence of this paragraph, to Court. To the extent a Holder holder of a Claim receives a distribution on account of such Claim and receives payment from a party that is not a Debtor or Debtor, a Reorganized Debtor Debtor, or the GUC Trust on account of such Claim, such Holder holder shall, within fourteen (14) days of receipt thereof, repay or return the distribution to the applicable Debtor, Reorganized Debtor, or the GUC Trust to the extent the Holder's holder's total recovery on account of such Claim from the third party and under the Plan exceeds the amount of such Claim as of the date of any such distribution under the Plan. The failure of such Holder holder to timely repay or return such distribution shall result in the Holder holder owing the applicable Reorganized Debtor annualized interest at the Federal Judgment Rate on such amount owed for each Business Day after the 14-day grace period specified above until the amount is repaid. View More Arrow
Found in Ascena Retail Grp contract
Claims Paid by Third Parties. The Debtors or the Reorganized Debtors, as applicable, shall reduce in full a Claim, Claim against any Debtor, and such Claim (or portion thereof) shall be disallowed Disallowed without a Claim objection having to be Filed and without any further notice to or action, order, or approval of the Bankruptcy Court, to the extent that the Holder of such Claim receives a payment in full on account of such Claim from a party that is not a Debtor or a Reorganized Debtor. Debtor, as applicable. Subject to... the last sentence of this paragraph, to the extent a Holder of a Claim receives a distribution on account of such Claim and also receives payment from a party that is not a Debtor or a Reorganized Debtor Debtor, as applicable, on account of such Claim, such Holder shall, within fourteen (14) days two (2) weeks of receipt thereof, of such payment, repay or return the distribution to the applicable Reorganized Debtor, Debtor to the extent the Holder's total recovery on account of such Claim from the third party and under the Plan exceeds the amount of such Claim as of the date of any such distribution under the Plan. The failure of such Holder to timely repay or return such distribution shall result in the Holder owing the applicable Reorganized Debtor annualized interest at the Federal Judgment Rate on such amount owed for each Business Day after the 14-day two-week grace period specified above until the amount is repaid. View More Arrow
Found in CUMULUS MEDIA INC contract
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