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.

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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

In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuers or any of its Affiliates or held or maintained in the Disputed Claims Reserve, shall be considered as though not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes that the Trustee has actual knowledge are so owned shall be so disregarded.
The Disputed Claims Reserve is intended to be treated for U.S. income tax purposes as a grantor trust of the Debtors.
The Disbursing Agent shall hold such amount in an interest bearing, federally insured deposit account ("Claims Reserve") pending resolution of the Disputed Claim as provided herein.
Thereafter, if any Pending Claim becomes an Established Claim, the Representative and Harmony shall deliver to the Escrow Agent a Joint Notice directing the Escrow Agent to deliver to Harmony the number of Escrow Shares in the Pending Claims Reserve in respect thereof determined in accordance with Section 4(a)(iii) above and to deliver to each Owner the remaining Escrow Shares in the Pending Claims Reserve allocated to such Pending Claim, all as specified in the Joint Notice.
If any Pending Claim is resolved against Parent, the Parent Representative and the Holder Representative shall deliver to the Escrow Agent a Joint Notice directing the Escrow Agent to pay to each Owner its pro rata portion of the number of shares allocated to such Pending Claim in the Pending Claims Reserve.

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 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.

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

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 $1,500,000.

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 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.