Common use of RESOLUTION OF CERTAIN OBJECTIONS Clause in Contracts

RESOLUTION OF CERTAIN OBJECTIONS. Notwithstanding anything in the Modified Plan or this Second Confirmation Order to the contrary, to the extent that there is any inconsistency between the terms of the Modified Plan or this Second Confirmation Order and that certain Confidential Settlement Agreement and Mutual Release (the "Settlement Agreement") between and among the Debtors and Southwestern Bell Telephone, L.P., d/b/a Southwestern Bell Telephone Company, ▇▇▇ritech (composed of Illinois Bell Tel▇▇▇▇ne Company d/b/a Ameritech Illinois, Indiana Bell Te▇▇▇▇one Company Incorporated d/b/a Ameritech Indi▇▇▇, ▇▇▇▇▇▇▇n Bell Telephone Company d/b/a Ameritech Michigan, The Ohio Bell T▇▇▇▇hone Company d/b/a Ameritech Ohio, Wisconsin Bell, Inc., ▇/b/a Ameritech Wisconsin) and Pacific Bell Telephon▇ ▇▇mpany approved by this Court on May 1, 2002 and ▇▇▇ered of record May 2, 2002 [Docket No. 1437], the terms of the Settlement Agreement shall govern. Notwithstanding anything in the Modified Plan or this Second Confirmation Order to the contrary, the Debtors or the Reorganized Debtors will pay any undisputed Priority Tax Claims of the Missouri Department of Revenue and the Tennessee Department of Revenue on or about the Effective Date. The Debtors or the Reorganized Debtors have resolved the objection of Bexar County by agreeing to pay a portion of Bexar County's Other Secured Claim on or about the Effective Date and by paying the remainder of such claim on a quarterly schedule at an agreed upon interest rate. Notwithstanding anything in the Modified Plan or this Second Confirmation Order to the contrary, (i) sections 12.9 and 12.10 of the Modified Plan, as well as any other similar or applicable language or provisions herein, do not in any way affect, alter or preclude Genuity's setoff or recoupment rights, however arising or asserted now or in the future in the Colorado Action (as defined in Genuity's objection) and (ii) sections 12.9 and 12.10 of the Modified Plan, as well as any other similar or applicable language or provisions in this Second Confirmation Order, do not prohibit Genuity from continuing to prosecute its counterclaims and its affirmative defenses against the Debtors in the Colorado Action, provided that Genuity's right to collect on any judgment rendered in Colorado Action is governed by the Modified Plan provisions regarding distributions to holders of Allowed prepetition Claims. Notwithstanding anything in the Modified Plan or this Second Confirmation Order to the contrary, the Debtors or the Reorganized Debtors shall pay fifty percent (50%) of the amount set forth in the proof of claim filed by the Texas Comptroller on or about the Effective Date in complete and full satisfaction of such claim. Notwithstanding anything in the Modified Plan or this Second Confirmation Order to the contrary, to the extent that the Claim of the County of San Diego is found to be an Allowed Claim, the Debtors or the Reorganized Debtors shall pay such claim on a quarterly basis over a three-year period at an agreed upon interest rate. County of San Diego shall retain any liens provided for by applicable state law (if any). The Debtors and County of San Diego have agreed to certain remedies in the event of default. Notwithstanding anything in the Modified Plan or this Second Confirmation Order to the contrary, to the extent that the Internal Revenue Service is found to have an Allowed Priority Tax Claim under applicable law, the interest rate applicable to such Claim shall be 7%. The Internal Revenue Service shall retain any setoff rights to which it is entitled under the Bankruptcy Code.