Common use of Undeliverable Distributions and Unclaimed Property Clause in Contracts

Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder is returned as undeliverable, no distribution to such Holder shall be made unless and until the Reorganized Debtors have determined the then-current address of such Holder, at which time such distribution shall be made to such Holder without interest; provided, that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year from the time of such distribution. After such date, all unclaimed property or interests in property shall be property of the Reorganized Debtors, notwithstanding any applicable federal, provincial, state, or other jurisdiction’s escheat, abandoned, or unclaimed property laws to the contrary, and the Claim of any Holder to such property or Interest in property shall be discharged and forever barred. For the avoidance of doubt, any unclaimed property or interests in property with respect to General Unsecured Claims shall be returned to the Reorganized Debtors.

Undeliverable Distributions and Unclaimed Property. In the event that any distribution to any Holder holder is returned as undeliverable, no distribution to such Holder holder shall be made unless and until the Debtors, the Reorganized Debtors Debtors, or the Creditor Claim Representative, as applicable, shall have determined the then-current address of such Holderholder, at which time such distribution shall be made to such Holder holder without interest; provided, provided that such distributions shall be deemed unclaimed property under section 347(b) of the Bankruptcy Code at the expiration of one year from the time of such distributionEffective Date. After such date, all unclaimed property or interests in property shall be property redistributed Pro Rata (it being understood that, for purposes of this Article VI.E.3, “Pro Rata” shall be determined as if the Reorganized Debtors, Claim underlying such unclaimed distribution had been Disallowed) without need for a further order by the Court (notwithstanding any applicable federal, provincial, state, or other jurisdiction’s state escheat, abandoned, or unclaimed property laws to the contrary), and the Claim of any Holder holder to such property or Interest in property shall be discharged and forever barred. For the avoidance of doubt, any unclaimed property or interests in property with respect to General Unsecured Claims shall be returned to the Reorganized Debtors.