Friday, May 31, 2019 3:18:43 AM
(b) In connection with the Judicial Approval Proceeding, the Trustee may, in its discretion, also seek Final Allocation Approval, provided however, that the Trustee will ~ seek any Final Allocation Approval in the form of a separate order from the Approval Court and Final Allocation Approval will not be an element of Final Court Approval, it being the express intention ofthe Parties that any objection's by Investors to the Trustees proposed allocation or other allocation as may be ordered by the Approval Court, or any delay in obtaining Final Allocation Approval, will not affect Final Court Approval. Unless the Trustee elects to forego seeking Final Allocation Approval, in the event Final Court Approval is obtained prior to Final Allocation Approval, the Trustee will not distribute amounts received by the Trustee pursuant to this Settlement to the Trusts prior to Final Allocation Approval.
2.03. Termination. Unless otherwise extended by written agreement ofthe Parties, this Settlement Agreement will automatically terminate (i) in the event Final Court Approval has not been obtained on or before June 30, 2019, or (ii) prior to June 30, 2019, on the first business day following which securing Final Court Approval becomes legally impossible. For purposes of this Settlement Agreement, Final Court Approval will become legally impossible ifand when the Approval Court has entered a final and non~appealable (including the expiration of any time to apply for discretionary review) judgment denying Final Court Approval.
ARTICLE ill. SETTLEMENT TERMS
3.01. Trustee Allowed Claim. Upon the Effective Date, the Trustee will be deemed to have an allowed general unsecured creditor claim in the WMB Receivership Estate in the amount of $3,006,929,660 (the "Trustee Allowed Claim"). The claim will be evidenced by a notice of allowance of claim from the FDIC~Receiver's claims agent in charge addressed to the Trustee as provided in Section4.09. The FDIC-Receiver will treat the Trustee Allowed Claim proportionally with all other allowed general unsecured claims and will not subordinate or otherwise diminish the Trustee Allowed Claim. Any and all distributions on account ofthe Trustee Allowed Claim will be made by the FDIC~Receiver to the Trustee as and when the FDIC-Receiver makes distributions to other general unsecured creditors holding allowed claims . in the WMB Receivership Estate. All distributions made by the FDIC-Receiver on account of the Trustee Allowed Claim will be made to an account designated by the Trustee. The maintenance, allocation, or distribution of all payments made by the FDIC-Receiver to the Trustee on account ofthe Trustee Allowed Claim will be the sole responsibility ofthe Trustee after receipt. The Trustee will, in the exercise of its reasonable discretion, and subject to approval or modification by the Approval Court, allocate among the Trusts any amounts available for distribution to the Trusts.
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