Examples of Priority Claims Reserve in a sentence
A cash amount initially of ISK 6.0 billion (the “ISK Priority Claims Reserve Fund”) which was deposited to a separate account for the settlement of disputed ISK-denominated priority claims lodged under Art.
From and after the Effective Date, the Liquidation Trustee shall maintain and distribute the Other Priority Claims Reserve in accordance with the terms and subject to the conditions set forth herein and in the Trust Agreement.
Distributions to Holders of Allowed Class 3 Claims shall be made by the Plan Administrator, first from the Plan Settlement Fund, then from the Priority Claims Reserve, until all Allowed Class 3 Claims are paid in full.
Upon closure of a Disputed Claim Reserve, all Cash or other property held in that Disputed Claim Reserve shall revest in and become unrestricted property of the Plan Administrator; provided, however, that with respect to the Priority Claims Reserve, any and all Cash that is not paid to or on account of an Allowed Priority Tax Claim or an Allowed Class 3 Claim shall be distributed to Comerica.
Any amounts remaining in the Reorganized Debtor Administrative and Priority Claims Reserve after payment of all Allowed Administrative, Priority, and Professional Compensation Claims and U.S. Trustee Fees shall become the GUC Available Cash.