Washington Mutual WAHUQ Trust Prf (fka WAHUQ)

[marayatano]

I am not following this, however, at a glance, it looks like it depends on how many elect stock then it is prorated.

The "all or some" is something you fill out yourself on the ballot.

I am sure whoever is following HUQ will jump in answer your question.

imo

Commencing on the Effective Date, and subject to the right of election described in the Plan, each holder
of an Allowed PIERS Claim shall receive, in full satisfaction, release and exchange of such holder’s Allowed PIERS
Claim and Postpetition Interest Claim, subject to the Lien or priority rights of the PIERS Trustee, such holder’s Pro
Rata Share of (i) Runoff Notes (subject to the provisions of Section 31.14 of the Plan and to the extent remaining
after distribution to holders of Allowed Senior Notes Claims, Allowed General Unsecured Claims, Allowed Senior
Subordinated Notes Claims, Allowed CCB-1 Guarantees Claims, and Allowed CCB-2 Guarantees Claims), (ii)
Creditor Cash and (iii) Liquidating Trust Interests, in an aggregate amount equal to (a) such holder’s Allowed
PIERS Claim and (b) in the event that all Allowed Claims (other than Subordinated Claims) are paid in full, such
holder’s Postpetition Interest Claim.
Notwithstanding the foregoing, the Plan provides that each holder of an Allowed PIERS Claim shall be
provided the right to elect, in its sole and absolute discretion, to receive such holder’s Pro Rata Share of the
Common Stock Allotment in lieu of (i) fifty percent (50%) of such holder’s Litigation Proceeds Interest (solely in its
capacity as a holder of an Allowed PIERS Claim) and (ii) subject to the provisions of Section 31.1(e) of the Plan,
some or all of the Runoff Notes that such holder otherwise is entitled to receive pursuant to Section 20.1 of the Plan.

Elect to receive pro rata share of the Common Stock Allotment, collectively and
not individually, in lieu of (i) fifty percent (50%) of such holder’s Litigation
Proceeds Interest and (ii) some or all of the Runoff Notes that such holder otherwise
is entitled to receive pursuant to Section 20.1 of the Plan.

$ of Runoff Notes to be tendered for such holder’s pro rata share of the
Common Stock Allotment.

NOTE: To the extent a holder of an Allowed PIERS Claim receives Reorganized Common Stock pursuant
to the foregoing election, such holder’s share of the Runoff Notes to which the election was effective shall not be
issued and Reorganized WMI shall retain an economic interest in the Litigation Proceeds equal to fifty percent
(50%) of the Litigation Proceeds (and such interest shall not constitute a component of the Liquidating Trust Assets)
such holder otherwise would have received (solely in its capacity as a holder of an Allowed PIERS Claim) (and the
holder’s rights in respect of distributions from the Liquidating Trust shall be adjusted to the extent such proceeds are
received by Reorganized WMI). Failure by any holder of an Allowed PIERS Claim to elect to exercise rights
provided in Section 20.2 of the Plan on or before the Voting and Election Deadline shall constitute a deemed waiver
and relinquishment of such rights by such holder. Any election made after the Voting and Election Deadline shall
not be binding upon the Debtors unless the Voting and Election Deadline is waived, in writing, by the Debtors;
provided, however, that under no circumstance may such waiver by the Debtors occur on or after the Effective Date.

http://www.kccllc.net/documents/0812229/0812229120109000000000015.pdf

PDF 348