Common use of Delivery of Distributions in General Clause in Contracts

Delivery of Distributions in General. Except as otherwise provided herein, the Disbursing Agent shall make distributions to Holders of Allowed Claims and Allowed Interests (as applicable) as of the Distribution Record Date at the address for each such Holder as indicated on the Debtors’ records as of the date of any such distribution; provided, that the manner of such distributions shall be determined at the discretion of the Reorganized Debtors; provided further, that the address for each Holder of an Allowed Claim or Allowed Interest shall be deemed to be the address set forth in any Proof of Claim or Proof of Interest Filed by such Holder. Notwithstanding any provision to the contrary herein and except as otherwise agreed by the relevant parties no partial payments and no partial distributions shall be made with respect to a Disputed Claim or Disputed Interest until all such disputes in connection with such Disputed Claim or Disputed Interest have been resolved by settlement or Final Order. Any dividends or other distributions arising from property distributed to Holders of Allowed Claims or Allowed Interests in a Class and paid to such Holders under the Plan shall also be paid, in the applicable amounts, to any Holder of a Disputed Claim or Disputed Interest in such Class that becomes an Allowed Claim or Allowed Interest, after the date such Disputed Claim or Disputed Interest becomes an Allowed Claim or Allowed Interest and after the date or dates that such dividends or other distributions were earlier paid to holders of Allowed Claims or Allowed Interests in such Class. All distributions to Holders of DIP Claims and RCF Claims shall be deemed complete when made to such Holders as reflected on the applicable Loan Registers, and not when made to the DIP Agent or the RCF Agent, as applicable. The RCF Agent and the DIP Agent (in their capacities as such) shall not be required to act as the Distribution Agent with respect to any distributions of the Exit Facility (if any) and shall have no responsibility or liability for such distributions.

Delivery of Distributions in General. The Distribution Agent shall make all distributions, allocations, and/or issuances required under the Plan, at which time such distributions shall be deemed complete. Subject to Article IV.G, distributions to the Notes Trustees for further distribution to the Holders of Allowed Senior Notes Claims shall be deemed made by the Debtors upon delivery to the relevant Notes Trustee. Except as otherwise provided herein, and notwithstanding any authority to the Disbursing Agent shall make contrary, distributions to Holders of Allowed Claims, including Claims and that become Allowed Interests (as applicable) after the Effective Date, shall be made to Holders of record as of the Effective Date by the Distribution Record Date at Agent: (a) to the address for each such Holder as indicated on the Debtors’ records as of the date of any such distribution; provided, that the manner of such distributions shall be determined at the discretion of the Reorganized Debtors; provided further, that the address for each Holder of an Allowed Claim or Allowed Interest shall be deemed to be the address signatory set forth in on any Proof of Claim or Proof of Interest Filed filed by such Holder. Notwithstanding Holder or other representative identified therein (or at the last known addresses of such Holder if no Proof of Claim or Proof of Interest is filed or if the Debtors have not been notified in writing of a change of address); (b) at the addresses set forth in any provision written notices of address changes delivered to the contrary herein and except as otherwise agreed by the relevant parties no partial payments and no partial distributions shall be made with respect to a Disputed Claim Reorganized Debtors or Disputed Interest until all such disputes in connection with such Disputed Claim or Disputed Interest have been resolved by settlement or Final Order. Any dividends or other distributions arising from property distributed to Holders of Allowed Claims or Allowed Interests in a Class and paid to such Holders under the Plan shall also be paid, in the applicable amountsDistribution Agent, to any Holder of a Disputed Claim or Disputed Interest in such Class that becomes an Allowed Claim or Allowed Interestas appropriate, after the date such Disputed of any related Proof of Claim or Disputed Interest becomes an Allowed Claim Proof of Interest; or Allowed Interest and after (c) on any counsel that has appeared in the date or dates Chapter 11 Cases on the Holder’s behalf; provided that such dividends or other all distributions were earlier paid to holders the Holders of Allowed Claims or Allowed Interests in such Class. All distributions to Holders of DIP Claims and RCF Credit Facility Claims shall be deemed complete when made by the Distribution Agent (in the case of Cash by wire transfer) directly to the Holders of such Holders Claims as reflected on the applicable Loan Registersrecords of the Credit Facility Agent as of the Effective Date. Notwithstanding anything to the contrary herein, including this Article VI.E, New Valaris Holdco (or any of its subsidiaries), the Debtors, the Reorganized Debtors, the Credit Facility Agent, and not when made to the DIP Agent or the RCF Distribution Agent, as applicable. The RCF Agent and the DIP Agent (in their capacities as such) , shall not be required to act as the Distribution Agent with respect to incur any liability whatsoever on account of any distributions of under the Exit Facility (if any) and shall have no responsibility or liability for such distributionsPlan.

Delivery of Distributions in General. Except as otherwise provided herein, the Disbursing Distribution Agent shall make distributions to Holders of Allowed Claims and Allowed Interests (as applicable) as of the Distribution Record Date Date, or, if applicable, to such Holder’s designee, as appropriate: (a) at the address for each such Holder as indicated on the Debtors’ records as of the Distribution Record Date; (b) to the signatory set forth on any Proof of Claim Filed by such Holder or other Representative identified therein (or at the last known addresses of such Holder if no Proof of Claim is Filed or if the Debtors have not been notified in writing of a change of address); (c) at the addresses set forth in any written notices of address changes delivered to the Reorganized Debtors or the applicable Distribution Agent, as appropriate, after the date of any such distributionrelated Proof of Claim; or (d) on any counsel that has appeared in the Chapter 11 Cases on the Holder’s behalf; provided, that the manner of such distributions shall be determined at the discretion of the Reorganized Debtors; provided further, that the address for each Holder of an Allowed Claim or Allowed Interest shall be deemed to be the address set forth in any Proof of Claim or Proof of Interest Filed by such Holder. Notwithstanding any provision to the contrary herein and except as otherwise agreed by the relevant parties no partial payments and no partial distributions shall be made with respect to a Disputed Claim or Disputed Interest until all such disputes in connection with such Disputed Claim or Disputed Interest have been resolved by settlement or Final Order. Any dividends or other distributions arising from property distributed to Holders of Allowed Claims or Allowed Interests in a Class and paid to such Holders under the Plan shall also be paid, in the applicable amounts, to any Holder of a Disputed Claim or Disputed Interest in such Class that becomes an Allowed Claim or Allowed Interest, after the date such Disputed Claim or Disputed Interest becomes an Allowed Claim or Allowed Interest and after the date or dates that such dividends or other distributions were earlier paid to holders of Allowed Claims or Allowed Interests in such Class. All distributions to Holders of DIP Claims and RCF Claims shall be deemed complete when made to such Holders as reflected on the applicable Loan Registers, and not when made to the DIP Agent Agents or the RCF Exit Term Loan Agent, as applicable. The RCF Agent , and the DIP Agents or the Exit Term Loan Agent (in their capacities as such) shall not be required to be, and shall act as as, the Distribution Agent with respect to any the DIP Claims in accordance with the terms and conditions of this Plan and the applicable debt documents. All distributions to Holders of Prepetition Term Loan Claims shall be made to the Exit Facility (if any) Prepetition Term Loan Agent, and the Prepetition Term Loan Agent shall be, and shall have no responsibility or liability for such distributionsact as, the Distribution Agent with respect to the Prepetition Term Loan Claims in accordance with the terms and conditions of this Plan and the applicable debt documents.

Delivery of Distributions in General. Except as otherwise provided herein, the Disbursing Agent Agent, the Purchaser, or the Post-Effective-Date Debtor Subsidiary, as applicable, shall make distributions to Holders of Allowed Claims and Allowed Interests (as applicable) as of the Distribution Record Date at the address for each such Holder as indicated on the Debtors’ books and records as of the date of any such distribution; providedprovided that, that except as expressly provided in the Purchase Agreement or the Plan, the manner of such distributions shall be determined at the discretion of the Reorganized DebtorsDisbursing Agent, the Purchaser, or the Post-Effective-Date Debtor Subsidiary, as applicable; provided and provided, further, that the address for each Holder of an Allowed Claim or Allowed Interest shall be deemed to be the address set forth in any Proof of Claim or Proof of Interest Filed by such that Holder. Notwithstanding If a Holder holds more than one Claim in any provision to one Class, all Claims of the contrary herein Holder will be aggregated into one Claim and except as otherwise agreed by the relevant parties no partial payments and no partial distributions shall one distribution will be made with respect to a Disputed Claim or Disputed Interest until all such disputes in connection with such Disputed Claim or Disputed Interest have been resolved by settlement or Final Orderthe aggregated Claim. Any dividends or other distributions arising from property distributed Distributions of the Net Sale Proceeds to Holders of Allowed EME Senior Notes Claims or Allowed Interests in a Class and paid shall (a) be made by the Disbursing Agent to such Holders under the Plan shall also be paid, in EME Senior Notes Indenture Trustee for the applicable amounts, to any Holder benefit of a Disputed Claim or Disputed Interest in such Class that becomes an Allowed Claim or Allowed Interest, after the date such Disputed Claim or Disputed Interest becomes an Allowed Claim or Allowed Interest and after the date or dates that such dividends or other distributions were earlier paid to holders of Allowed Claims or Allowed Interests in such Class. All distributions to Holders of DIP EME Senior Notes Claims and RCF Claims shall (b) be deemed complete completed when made to such Holders as reflected on by the applicable Loan Registers, and not when made Disbursing Agent to the DIP Agent or the RCF Agent, as applicableEME Senior Notes Indenture Trustee. The RCF Agent and the DIP Agent (in their capacities as such) EME Senior Notes Indenture Trustee shall not be required to act as give any bond, surety, or other security for the Distribution Agent performance of its duties with respect to any distributions such Distributions. Distributions of New Interests to Holders of EME Senior Notes Claims hereunder, if any, shall not be made to the EME Senior Notes Trustee, but shall be distributed as provided under the Plan directly to the Holders of the Exit Facility (if any) EME Senior Notes Claims or any applicable Entity other than the EME Senior Notes Indenture Trustee receiving such distribution on such Holders’ behalf. Prior to the distribution of New Interests hereunder, the recipient of such New Interests shall furnish to the transfer agent identified by the Debtors such identification and shall have no responsibility or liability for such distributionstax information as may be required by the Debtors.