Release of Reserves. Effective immediately and continuing throughout the Forbearance Period, Lender will release for use by the Borrower the following reserves: (1) the Licensing Payment Reserve totaling $135,416; and (2) the Primary Reserve totaling $375,000.
Release of Reserves. A. On the 180th day after the Closing Date, the parties hereto shall jointly instruct the Disbursing Agent to disburse to the General Partner that portion of the Reserve Amount that has not been paid, disbursed or otherwise required to be paid on account of Liability Claims or Indemnity Claims. The General Partner may then elect: (i) to continue to hold such disbursed amounts for up to 360 days after the Closing Date, in trust for the benefit of the Partnership and the Partners, as a fund against which to pay unanticipated Partnership Claims (the "Contingency Reserve"); or (ii) to distribute such sums pro rata to the Partners.
Release of Reserves. Any amounts remaining in any of the Reserves and each of the Transaction Escrows shall be distributed as set forth in the Plan.
Release of Reserves. Effective upon the receipt and approval by Co-Collateral Agents of one or more signed, binding and bona fide commitment letters for a Refinancing Transaction that satisfy the requirements of Section 4(m) of this Agreement, and so long as Loan Parties have not failed to satisfy any Forbearance Condition as of such date (excluding for avoidance of doubt any Forbearance Condition which on such date is not yet required to be satisfied), Bank of America, N.A., in its capacity as Co-Collateral Agent, and Regions Bank, in its capacity as Administrative Agent, agree to release a portion, in the amount of $10,000,000, of the Reserves that are in existence on the date of this Agreement; provided, that each Loan Party hereby acknowledges and agrees that the foregoing release shall in no way prohibit, or limit the right of, Administrative Agent or any Co-Collateral Agent from imposing, changing or re-imposing any Reserve before or after such date, in accordance with the Loan Documents.
Release of Reserves. Subject to Clause 27.4, a Reserve shall be released to the relevant Bank upon the maturity of the unmatured liability in respect of which that Reserve had been created.
Release of Reserves. (i) Amounts deposited into the Completion Reserve Account and the Operating Reserve Account shall be released in accordance with the LLC Agreement.
Release of Reserves. Notwithstanding anything contained in this Agreement to the contrary, on and effective as of the Effective Date, except for reserves for Retained Subrogation Claims, any reserves held under the Seventh Amended Plan for proofs of claims by the D&O Claimants for advancement, settlement, indemnification and defense costs paid, incurred, or to be paid or incurred by the D&O Claimants or the Insurers, including the Indemnification Claims (or Indemnification Components, as applicable), shall be released to WMILT and distributed in accordance with the terms and provisions of Section 26.3 of the Seventh Amended Plan and the Liquidating Trust Agreement.
