Common use of Estimation of Claims Clause in Contracts

Estimation of Claims. The Liquidating Trust Administrator may at any time request that the Bankruptcy Court estimate any Claim pursuant to section 502(c) of the Bankruptcy Code regardless of whether any of the Debtors, the Post Effective Date Debtors, or the Liquidating Trust Administrator previously objected to such Claim or whether the Bankruptcy Court has ruled on any such objection (for the avoidance of doubt, however, to the extent a Claim has been Allowed by a Bankruptcy Court order, such Claim is no longer subject to estimation), and the Bankruptcy Court will retain jurisdiction to estimate any Claim at any time during litigation concerning any objection to any Claim, including, without limitation, during the pendency of any appeal relating to any such objection. In the event that the Bankruptcy Court estimates any Claim, the amount so estimated shall constitute either the Allowed amount of such Claim or a maximum limitation on such Claim, as determined by the Bankruptcy Court. If the estimated amount constitutes a maximum limitation on the amount of such Claim, the Liquidating Trust Administrator may pursue supplementary proceedings to object to the allowance of such Claim. All of the aforementioned objection, estimation, and resolution procedures are intended to be cumulative and not exclusive of one another. Claims may be estimated and subsequently compromised, settled, withdrawn, or resolved by any mechanism approved by the Bankruptcy Court, provided, however, any Claim settled for an amount in excess of $100,000 would be subject to prior unanimous approval by the Advisory Board.

Estimation of Claims. The Liquidating Trust Administrator Debtor (or the Reorganized Debtor, as the case may be) shall be permitted, at any time time, to request that the Bankruptcy Court estimate any contingent or unliquidated Claim pursuant to section 502(c) of the Bankruptcy Code Code, regardless of whether any of the Debtors, the Post Effective Date Debtors, Debtor (or the Liquidating Trust Administrator Reorganized Debtor, as the case may be) previously had objected to such Claim or whether the Bankruptcy Court has had ruled on any such objection (for the avoidance of doubt, however, to the extent a Claim has been Allowed by a Bankruptcy Court order, such Claim is no longer subject to estimation)objection, and the Bankruptcy Court will shall retain jurisdiction to estimate any Claim at any time during any litigation concerning any objection to any such Claim, including, without limitation, including during the pendency of any appeal relating to any such objection. In the event that If the Bankruptcy Court estimates any contingent or unliquidated Claim, the amount so estimated shall constitute either the Allowed amount of such Claim or a maximum limitation on such Claim, as determined by the Bankruptcy Court. If the such estimated amount constitutes a maximum limitation on the amount of such Claim, the Liquidating Trust Administrator Debtor (or the Reorganized Debtor, as the case may be) may elect to pursue supplementary any supplemental proceedings to object to the allowance of such Claim. All of the aforementioned objection, estimation, estimation and resolution procedures are intended to be cumulative and not exclusive of one another. Claims may be estimated and subsequently compromised, settled, withdrawn, withdrawn or resolved by any mechanism approved by the Bankruptcy Court, provided, however, any Claim settled for an amount in excess of $100,000 would be subject to prior unanimous approval by the Advisory Board.