Claims Reserve definition

Claims Reserve means, collectively, one or more reserves and/or escrows to be established not later than the Effective Date that will provide for the payment in full of Allowed Secured Claims, Allowed Administrative Expense Claims, Allowed Priority Claims, Allowed PACA Claims, Allowed PASA Claims, Allowed Class Action Claims, and Allowed Professional Fee Claims in an amount to be disclosed in the Plan Supplement. All such amounts and reserves and/or escrows shall be subject to the consent of the Prepetition Secured Lender and the Committee.

Claims Reserve means the Company's reserves, determined in accordance with GAAP and the Company's accounting policies, attached hereto as Schedule 1.1(a), consistently applied by the Company, to satisfy claims made by customers with respect to products of the Company or any of its Subsidiaries.

Claims Reserve means remaining cash funds and Revested Assets held by the Plan Administrator after payment in full of all Plan Administration Expenses, Allowed Administrative Claims (including Professional Fee Claims and Administrative Tax Claims), Allowed Priority Tax Claims, Allowed Claims in Class 2, Allowed Claims in Class 3, and the First Interim Distribution to Class 4.

Examples of Claims Reserve in a sentence

• On the Effective Date, the City shall establish the Disputed COP Claims Reserve.

• The Disbursing Agent shall hold in the Disputed Claims Reserve all dividends, payments and other distributions made on account of, as well as any obligations arising from, the property held in the Disputed Claims Reserve, to the extent that such property continues to be so held at the time such distributions are made or such obligations arise.

• In the event, and to the extent, any Cash in the Disputed Claims Reserve is insufficient to pay the portion of any such taxes attributable to the taxable income arising from the assets of the Disputed Claims Reserve (including any income that may arise upon the distribution of the assets in the Disputed Claims Reserve), assets of the Disputed Claims Reserve may be sold to pay such taxes.

• Potential distributions in respect of Unresolved Affected Unsecured Claims or potential payments to Unresolved Secured Claims, or Government Priority Claims will be maintained in the Unresolved Claims Reserve until such claims are Finally Determined.

• The Unresolved Claims Reserve may be reduced by the Monitor from time to time to the extent the amount of the Unresolved Claims Reserve exceeds the maximum amounts distributable or payable for remaining Unresolved Affected Unsecured Claims, Unresolved Secured Claims, or Unresolved Government Priority Claims.

More Definitions of Claims Reserve

Claims Reserve means the reserve to be created by the TSC Debtors to hold a contribution of New TSC Notes, which reserve shall be held for the benefit of holders of Unsecured Claims, for distribution according to the procedures set forth in Article VII and Article VIII.

Claims Reserve means an amount which has been reserved for Claims and which may only be applied towards the purposes listed in Clause 4.2(e).

Claims Reserve means the Claims Reserve established pursuant to Section 9.02 of the Plan and the amounts held therein.

Claims Reserve means that reserve created and held by the Liquidating Trustee to pay Disputed Claims when and to the extent they become Allowed Claims, and to pay Administrative Claims of the Bankruptcy Case that are not yet due, in full with interest.

Claims Reserve means as of any date the excess, if any, of (i) the Claims Adjusted Consolidated Net Worth of the Company over (ii) $26,170,656 (which represents the Consolidated Net Worth of the Company as of September 30, 1996, less $2,500,000).

Claims Reserve means $1,500,000.

Claims Reserve means a reserve to be established by the Debtors on or before the Effective Date and comprised of Cash in the amount of the Claims Reserve Amount, less any portion of such amount that is distributed on the Effective Date pursuant to the Plan, which reserve shall vest in the Reorganized Debtors, the Liquidation Trust, or the GUC Trust (as applicable) as of the Effective Date.