Common use of Manner of Payment or Distribution Clause in Contracts

Manner of Payment or Distribution. (a) Subject to the terms and conditions of any Term Sheet and/or any documents evidencing such terms and conditions (as they may be modified by agreement of the parties thereto) and any liens that may be granted in connection therewith, and in strict accordance thereto, all distributions authorized under Section 6.1 hereof and made by the Liquidating Trustee to holders of Liquidating Trust Interests shall be payable to the holders of Liquidating Trust Interests of record as of the 20th day prior to the date scheduled for the distribution, unless such day is not a Business Day, then such day shall be the following Business Day. If the distribution shall be in Cash, the Liquidating Trustee shall distribute such Cash by wire, check, or such other method as the Liquidating Trustee deems appropriate under the circumstances. (b) To the extent that the Debtors become liable for the payment of any Claims arising under section 502(h) of the Bankruptcy Code on account of Liquidating Trust Assets Recoveries, the Liquidating Trustee will be responsible for making distributions on account of such Claims pursuant to Section 8.2. (c) Subject to the terms and conditions of any Term Sheet and/or any documents evidencing such terms and conditions (as they may be modified by agreement of the parties thereto) and any liens that may be granted in connection therewith, and in strict accordance thereto, all distributions authorized under Section 6.1 hereof shall be distributed Pro Rata to holders of Liquidating Trust Interests in accordance with the terms of the Plan. (d) Holders of General Unsecured Claims shall share the Liquidating Trust Interests Pro Rata based on the amount of each such holder’s Allowed Claim.