Trust Reserve definition
Examples of Trust Reserve in a sentence
The Liquidating Trustee shall establish the Liquidating Trust Reserve (as defined below) in accordance with Section 8.2 of this Liquidating Trust Agreement.
The Litigation Trustee shall establish the Litigation Trust Reserve in accordance with Section 8.2 of this Litigation Trust Agreement.
In addition, the Liquidating Trust shall purchase insurance coverage as set forth in Section 4.11(k) hereof, including fiduciary liability insurance using funds from the Liquidating Trust Reserve for the benefit of the Liquidating Trustee and the Members.
The Liquidating Trustee may pay the reasonable salaries, fees and expenses of such Persons out of the Liquidating Trust Reserve in the ordinary course of business and neither the Liquidating Trustee nor any Liquidating Trust Beneficiary shall have any liability or obligation for any fees or expenses of any such professional.
The Liquidating Trust Reserve shall be held separately from the other Liquidating Trust Assets and shall be used to (a) fund the Wind- Down Manager Reserve, (b) satisfy all Allowed Administrative Claims, Allowed Priority Tax Claims, Allowed Priority Non-Tax Claims, and Allowed Secured Claims not paid by the Debtors on or prior to the Effective Date, (c) fund Disputed Claims Reserves relating to such Claims, (d) fund the Liquidating Trust Expenses, and (e) fund the Prepetition Junior Loan Agent Fee Reserve.
If there is less than $[●] at the end of any calendar year, the Landlord will replenish the Supplemental Trust Reserve so that it contains at least $[●].
The First Trust Reserve shall secure obligations of Seller under Section 3.
On the Effective Date, the Liquidating Trustee shall fund the Liquidating Trust Reserve, which shall vest in the Liquidating Trust free and clear of all Claims, Liens, encumbrances, and charges.
The Trust Reserve Deposit shall be made available for the uses described in Section 7.05 below.
Seller shall bear and be responsible for the payment Taxes on the income from each of the Deficiency Reserve Escrow Account, the Indemnity Reserve Escrow Account and the First Trust Reserve Escrow Account.