Class 5 Reserve definition

Class 5 Reserve means the Class 5 Distribution Shares that have not at the time of determination been distributed to the holders of Remaining Allowed Unsecured Claims pursuant to this Plan and the portion of the Cash Election Payment Amounts that has not
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Class 5 Reserve means at the sole option of Reorganized Regal, either (a) an interest-bearing account into which Reorganized Regal shall deposit $15,000,000 in cash for the benefit of a third-party escrow agent on behalf of Class 5 Reserve Beneficiaries or (b) a renewable letter of credit in the amount or $15,000,000 which shall be posted by Regal for the benefit of a third-party escrow agent on behalf of Class 5 Reserve Beneficiaries.
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Examples of Class 5 Reserve in a sentence

  • On the Final Distribution Date the Debtor shall distribute or cause to be distributed to the Closing Date Holders of Remaining Allowed Unsecured Claims all shares remaining in the Class 5 Reserve.

  • Such distribution shall be made to Closing Date Holders of Remaining Allowed Unsecured Claims who have previously received no distributions of Class 5 Distribution Shares as and in the amounts provided in Section 10.2.3. The other remaining shares in the Class 5 Reserve shall be distributed Pro Rata to all other Record Date Holders of Remaining Allowed Unsecured Claims.

  • On such date the Debtor shall also distribute to Validly Electing Holders all of the amounts still required to be paid pursuant to the Cash Election remaining in the Class 5 Reserve.

  • At the election of the Debtor, Interim Distributions of Class 5 Distribution Shares and portions of the Cash Election Payment Amounts in the Class 5 Reserve may be made on such dates as the Debtor may determine.

  • The Creditors' Committee may appear before the Court, or any other court of competent jurisdiction if the Reorganization Cases have been closed, to enforce Reorganized Regal's obligation to pay allowed Class 5 Claims from sources other than the Class 5 Reserve or obtain reimbursement for the Class 5 Reserve for amounts paid on account of allowed class 5 claims which were paid from the Class 5 Reserve when they should have first been paid from sources other than the Class 5 Reserve.

  • To the extent the amount of disputed class 5 claims is at any time less than $15,000,000, at Reorganized Regal's direction and on five Business Days' advance notice to the Creditors' Committee, the escrow agent shall remit to Reorganized Regal from the Class 5 Reserve an amount equal to such difference.

  • Interest earned on the Class 5 Reserve shall be remitted quarterly to Reorganized Regal.

  • All statutory committees appointed in the Reorganization Cases pursuant to section 1102 of the Bankruptcy Code, if any, shall be dissolved on the Effective Date; provided, however, that the Creditors' Committee shall survive on a limited basis for the purpose of monitoring and enforcing the terms of the Class 5 Reserve and shall be fully dissolved on the Class 5 Reserve Termination Date.

  • To the extent the allowed amount of such liquidated claim remains unpaid by Reorganized Regal ten Business Days after such notice is received by Reorganized Regal and the Creditors' Committee, the escrow agent shall remit the unpaid allowed amount to the Class 5 Reserve Beneficiary unless (a) such demand is withdrawn or (b) otherwise ordered by the Court.

  • Prior to or simultaneously with, the effectiveness of the Plan, the Class 5 Reserve shall have been funded, either with cash or through issuance of a renewable letter of credit, and the related escrow agreement shall have become effective.

Related to Class 5 Reserve

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Cash Reserve means for any Financed Receivable which has been paid in full during a Monthly Period, the amount by which the amount(s) paid on such Financed Receivable exceeds the Advance made on such Financed Receivable.

  • Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage). Condition: The three-month rolling average Excess Spread Percentage is: Class C Reserve Account Percentage:

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.08 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered holders of CWABS, Inc., Asset-Backed Certificates, Series 2004-BC3". Funds in the Carryover Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created under this Agreement.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Class B Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) the Class B Floating Percentage of the Reallocated Investor Finance Charge Collections and (b) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class B Floating Percentage of the Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date.

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Interest Reserve Account As defined in Section 3.4(d).

  • Class A Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class A Floating Percentage of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date, (b) the Class A Floating Percentage of the Reallocated Investor Finance Charge Collections and (c) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be included in Class A Available Funds with respect to such Distribution Date.

  • Excess Liquidation Proceeds Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • FF&E Reserve means, for any Person or any Hotel Property at any time, a reserve equal to four percent (4%) of gross revenues from any Hotel Property owned by such Person or from such Hotel Property, as applicable, for the Rolling Period of the Parent most recently ended for which financial statements have been, or are required to be, delivered to the Banks hereunder.

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE5, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE5." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Replacement Reserve As defined in Section 9.5.1.

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Interest Reserve means, for any Calculation Period, the product (expressed as a percentage) of (i) 1.5 times (ii) the Alternate Base Rate as of the immediately preceding Cut-Off Date times (iii) a fraction the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

  • Class Balance With respect to any Class of Certificates, at any time, the aggregate of the Certificate Balances of all Outstanding Certificates of such Class.

  • Available Reserve Account Amount means, with respect to any Distribution Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (before giving effect to any deposit to be made to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).