Sales and Use Escrow definition

Sales and Use Escrow means the segregated account no. 041001039 with KeyBank (formerly account no. 144025784 with JPMorgan), in the original amount of $63 million, established from the Winddown Funds in accordance with paragraph 21 of the Sale Order, to be used to pay certain sales and use taxes, Michigan business taxes and other taxes owed to state and local taxing authorities in the United States in respect of any of the Debtors and not covered by paragraph 20 of the Sale Order.
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Examples of Sales and Use Escrow in a sentence

  • The Debtors' obligations under the DIP Credit Agreement are secured by a first priority perfected lien and security interest on: (a) the Liquidation Funds (as defined below), subject only to the rights of the taxing authorities subject to the Sales and Use Escrow as set forth in paragraph 21 of the Sale Order; and (b) the DIP Collateral (as defined below).

  • The Liquidation Analysis assumes that, consistent with the Sale Order, the Sales and Use Escrow can be used to satisfy certain Secured Tax Claims and Priority Tax Claims consistent with paragraph 21 of the Sale Order (the "Escrow Tax Claims").

  • Project close‐ out requires completion of terms and activities outlined in the state contract, and including all deliverables identified in the work plan.

  • The Liquidation Analysis assumes that no funds would be available to pay Priority Tax Claims not covered by the Sales and Use Escrow.

  • The Liquidation Analysis assumesthat no funds will be available to pay any Other Secured Claims that are not satisfied by either the remaining collateral or the Sales and Use Escrow.

  • Any excess amounts in the Sales and Use Escrow are subject to the Liens of the Government DIP Lenders and will be paid to them after all relevant Escrow Tax Claims are resolved and satisfied.

  • This category includes the Government DIP Lenders' and the First Lien Lenders' cash collateral, the Government DIP Lenders' cash subject to Sales and Use Escrow and certain unencumbered funds comprised of the Committee Car Proceeds.

  • The Liquidation Analysis assumes Priority Tax Claims subject to paragraph 21 of the Sale Order will be satisfied to the extent amounts are available under the Sales and Use Escrow.

  • The Liquidation Analysis assumes that the Government DIP Lenders will receive their cash collateral (i.e., the Liquidation Funds, except for cash in the Sales and Use Escrow used to pay Escrow Tax Claims and any carve-out amounts) (the "Available Liquidation Funds") and any proceeds as a result of sales or collections of other DIP Collateral.

Related to Sales and Use Escrow

  • Agreement sales and use tax means a tax imposed under: (a) Subsection 59-12-103(2)(a)(i)(A);

  • Generator Operator means the Person that Operates the Generating Facility and performs the functions of supplying electric energy and interconnected operations services within the meaning of the NERC Reliability Standards.

  • Food processing plant means a commercial operation that manufactures, packages, labels or stores food for human consumption and does not provide food directly to a consumer. “Food processing plant” does not include any of the following:

  • Bulk transfer/terminal system means the motor fuel distribution system consisting of refineries, pipelines, marine vessels, and terminals. Motor fuel in a refinery, pipeline, terminal, or a marine vessel transporting motor fuel to a refinery or terminal is in the bulk transfer/terminal system. Motor fuel in a fuel storage facility including, but not limited to, a bulk plant that is not part of a refinery or terminal, in the fuel supply tank of any engine or motor vehicle, in a marine vessel transporting motor fuel to a fuel storage facility that is not in the bulk transfer/terminal system, or in any tank car, rail car, trailer, truck, or other equipment suitable for ground transportation is not in the bulk transfer/terminal system.

  • Construction Phase Services means the coordination, implementation and execution of the Work required by this Agreement, which are further defined in Article 8.

  • Service Areas means those areas within the Building used for stairs, elevator shafts, flues, vents, stacks, pipe shafts and other vertical penetrations (but shall not include any such areas for the exclusive use of a particular tenant).

  • Data Processing Equipment means any equipment, computer hardware, or computer software (and the lease or licensing agreements related thereto) other than Personal Computers, owned or leased by the Failed Bank at Bank Closing, which is, was, or could have been used by the Failed Bank in connection with data processing activities.

  • Pre-Construction Phase Services means the participation, documentation and execution of Contractor’s Pre-Construction Phase deliverables as required by this Agreement and further defined in Article 5.

  • Property management system means the Contractor’s system or systems for managing and controlling Government property.

  • Custom Local Area Signaling Service Features (CLASS Features) means certain Common Channel Signaling based features available to End Users, including: Automatic Call Back; Call Trace; Distinctive Ringing/Call Waiting; Selective Call Forward; and Selective Call Rejection.

  • Initial Xxxx of Sale means the document, in the form of Attachment B hereto, executed by an authorized officer of SLM ECFC which shall (i) set forth the applicable Initial Loans offered by SLM ECFC and accepted for purchase by the Interim Eligible Lender Trustee for the benefit of Funding, (ii) sell, assign and convey to the Interim Eligible Lender Trustee for the benefit of Funding and its assignees all rights, title and interest of SLM ECFC in the Initial Loans listed on that Xxxx of Sale and (iii) certify that the representations and warranties made by SLM ECFC as set forth in Sections 5 (A) and (B) of these Master Terms are true and correct.

  • Service Area means the geographic area approved by the commissioner within which an issuer is authorized to offer a Medicare Select policy.

  • Quality Management System means a set of interrelated or interacting elements that organisations use to direct and control how quality policies are implemented and quality objectives are achieved;

  • Additional Xxxx of Sale means each document, in the form of Attachment D hereto, executed by an authorized officer of VL Funding, the VL Funding Eligible Lender Trustee on behalf of VL Funding, Funding and the Interim Eligible Lender Trustee on behalf of Funding which shall: (i) set forth the list and certain terms of (a) Additional Loans offered by VL Funding and the VL Funding Eligible Lender Trustee on behalf of VL Funding and accepted for purchase by the Interim Eligible Lender Trustee for the benefit of Funding, including the Additional Loans Purchase Price for the Additional Loans being sold thereunder or (b) Substituted Loans substituted by VL Funding and (ii) sell, assign and convey to Funding and the Interim Eligible Lender Trustee, for the benefit of Funding, and their assignees, all right, title and interest of VL Funding and of the VL Funding Eligible Lender Trustee on behalf of VL Funding in the Additional Loans or Substituted Loans, as applicable, listed on the related Additional Xxxx of Sale and (iii) certify that the representations and warranties made by VL Funding and the VL Funding Eligible Lender Trustee on behalf of VL Funding pursuant to Sections 5(A) and (B) of these Master Terms, by the Servicer as set forth in Section 5(C) and by the Interim Eligible Lender Trustee as set forth in Section 5(D) are true and correct.

  • DRIVER / OPERATOR means an individual possessing sound mental and physical health who must be in possession of an appropriate professional Driving License and

  • Storage area means any location, facility, or vehicle which is used to store, to transport, or to secure a radiographic exposure device, a storage container, or a sealed source when it is not in use and which is locked or has a physical barrier to prevent accidental exposure, tampering with, or unauthorized removal of the device, container, or source.

  • General air quality operating permit or "general permit" means an air quality operating permit that meets the requirements of ARM 17.8.1222, covers multiple sources in a source category, and is issued in lieu of individual permits being issued to each source.

  • Distribution center means a building or structure used primarily for the storage of goods which are intended for subsequent shipment to retail outlets. Distribution center does not mean a building or structure used primarily to store raw agricultural products, used primarily by a manufacturer to store goods to be used in the manufacturing process, used primarily for the storage of petroleum products, or used for the retail sale of goods.

  • Cannabis processing facility means a person that:

  • Primary service area means that area within a five (5) mile radius from any imaging center owned, operated or managed by Administrator, Parent or their Affiliates for which the Group provides professional Radiology services or any hospital at which on-site professional Radiology services are then provided by Physician Employee(s) or Physician Extender Employee(s) of the Group.

  • Storage operator means a person holding or applying for a permit.

  • Generation Operations Center means the location of Buyer’s real-time operations personnel.

  • Adult foster care facility means an adult foster care facility licensed under the adult foster care facility licensing act, 1979 PA 218, MCL 400.701 to 400.737.

  • Energy storage system means a system which stores energy and releases it in the same form as was input.

  • Marijuana processor means a person who processes marijuana items in this state.

  • Production Operations means all operations conducted for the purpose of producing Petroleum from the Development Area after the commencement of production from the Development Area including the operation and maintenance of all necessary facilities therefor.