Claims Reserve Account definition

Claims Reserve Account means a segregated account to be established by the Debtors into which Cash in the amount of the Claims Reserve Cash Amount shall be deposited on or before the Effective Date, which account shall vest in the Plan Administration Trust as of the Effective Date.

Claims Reserve Account means the account opened pursuant to the Amendment and Restatement Agreement and further described in Clause 11 of the Intercreditor Agreement;

Claims Reserve Account means one or more interest-bearing bank account(s), money market or securities account(s) to be established and held in trust by the Master for the purpose of holding the Available Cash

Examples of Claims Reserve Account in a sentence

• After the Effective Date, the Plan Administrator shall pay any and all such fees when due and payable from the Claims Reserve Account.

• The funds in the Administrative/Priority Claims Reserve Account shall be used solely for the payment of Allowed Administrative/Priority Claims in accordance with Articles II or III (as applicable) and VI.B of the Plan.

• Any funds remaining in the Administrative/Priority Claims Reserve Account after all required payments have been made shall become Liquidating Trust Assets pursuant to the Plan.

• To the extent funds held in the Other Secured Claims Reserve Account relate to Other Secured Claims that (i) have been Disallowed by the Bankruptcy Court, (ii) are no longer claimed as evidenced by a written release of such Claim, or (iii) have been satisfied by a means other than Cash in accordance with Article III.B.2 the Plan, then such funds shall become Liquidating Trust Assets pursuant to the Plan.

• Any funds remaining in the Other Secured Claims Reserve Account after all required payments have been made shall become Liquidating Trust Assets pursuant to the Plan.

More Definitions of Claims Reserve Account

Claims Reserve Account means an interest bearing bank account or money

Claims Reserve Account means an interest bearing bank account or money market account to be established and held in trust by the Liquidating Trustee on or after the Effective Date for the purpose of holding the Plan Proceeds to be distributed under the Plan and any interest, dividends or other income earned upon the investment of such Claims Reserve Account. The Claims Reserve Account will be funded by the Trustee on or immediately after the Effective Date with the Available Cash and, following the Effective Date, from time to time, by the Liquidating Trustee, with (i) any Liquidation Proceeds realized after the Effective Date; plus (ii) any Litigation Recovery realized after the Effective Date; minus (iii) any amounts necessary to pay Plan Expenses.

Claims Reserve Account means a segregated account to be established by theDebtors into which Cash in an amount approved by the Pre-Petition Revolving Credit Lender for unpaid or Disputed Administrative Claims (other than Professional Fee Claims), statutory fees in accordance with Article II.C, Other Secured Claims, Priority Tax Claims and Other Priority Claims shall be deposited on or before the Effective Date, which account shall vest in the Liquidating Trust as of the Effective Date; provided that any amounts in the Claims Reserve Account not required to pay Allowed Administrative Claims (other than Professional Fee Claims), statutory fees in accordance with Article II.C, Allowed Other Secured Claims, Allowed Priority Tax Claims or Allowed Other Priority Claims shall constitute “Available Cash”.

Claims Reserve Account means one or more interest-bearing bank account(s),

Claims Reserve Account means a segregated account to be established by the Debtors into whichCash in the amount of the Claims Reserve Cash Amount shall be deposited on or before the Effective Date, except to the extent any portion of such amount is distributed on the Effective Date pursuant to the Plan Administration Process, which account shall vest in the Plan Administration Trust as of the Effective Date.

Claims Reserve Account means the segregated interest bearing account to be set aside from all the assets remaining in the Estates on the Trust Transfer Date, pursuant to section 7.3 of this Plan, and to be administered by the Liquidating Trustee after the Trust Transfer Date, which account shall contain funds sufficient to pay all unliquidated, contingent, or Disputed Claims, including the Prudential Stock or the proceeds thereof, as of the Trust Transfer Date.

Claims Reserve Account means an interest bearing bank account or money market account to be established and held in trust for the benefit of holders of Allowed Unsecured Claims by the Disbursing Agent on or after the Effective Date for the purpose of holding the Unsecured Creditor Contribution to be distributed under the Plan to Unsecured Creditors and for Plan Expenses, and any interest, dividends or other income earned upon the investment of such Claims Reserve Account. The Claims Reserve Account will be funded in the amount of the Unsecured Creditor Contribution pursuant to the terms of this Plan.