Administrative and Priority Claims Reserve definition

Administrative and Priority Claims Reserve means the reserve of Cash initially funded by the Debtors and maintained by the Plan Administrator, on behalf of the Liquidating Debtors (or the Liquidating Trust, if established), for the benefit of Holders of Allowed Administrative Claims (exclusive of Holders of Professional Fee Claims, the reserve for which Holders shall be the Professional Fee Reserve), Allowed Priority Tax Claims and Allowed Priority Non-Tax Claims in an amount equal to the Administrative and Priority Claims Estimate.

Administrative and Priority Claims Reserve means the reserve to be established and maintained by the Creditor Trust and funded on the Effective Date with such Cash in a segregated escrow account in the amount of$7,638,658.00, for the payment of accrued but unpaid U.S. Trustee Fees and Administrative, Priority, and Professional Compensation Claims that are Allowed after the Effective Date to the extent that such Claims have not been paid in full on or before the Effective Date.

Administrative and Priority Claims Reserve means the reserve of Cash funded by the Debtors on the Effective Date in an amount equal to the Administrative and Priority Claims Estimate and maintained by the Plan Administrator, on behalf of the Liquidating Debtors, for the benefit of Holders of Allowed Administrative Claims (exclusive of Holders of Professional Claims which shall be paid from the Professional Claims Reserve), Allowed Priority Tax Claims and Allowed Other Priority Claims, provided that any excess Cash in the Administrative and Priority Claims Reserve shall constitute Excess Sale Proceeds and shall be promptly distributed to the Holders of Allowed Claims in Classes 3 and 4 in accordance with Section 3.02 of this Plan. Subject to entry of the CRG-ESH Settlement Order by April 10, 2019, the Administrative and Priority Claims Reserve shall include the CRG Discovery Expense Reserve, subject to the challenge rights of the Litigation Trustee set forth in Section 5.11(b) of the Plan.

Examples of Administrative and Priority Claims Reserve in a sentence

• Administrative and Priority Claims ReserveOn or before the Effective Date, the Debtors shall create and fund the Administrative and Priority Claims Reserve in Cash in the Amount of the Administrative and Priority Claims Estimate.

• The Cash so transferred shall not be used for any purpose other than to pay Allowed Administrative Claims (except Professional Fee Claims, which shall be paid from the Professional Fee Reserve), Priority Tax Claims and Priority Non-Tax Claims, and, subject to Section 5.9(e), no payments on account of the foregoing claims shall be made from any source other than the Administrative and Priority Claims Reserve.

• For the avoidance of doubt, any payments made by the Plan Administrator on account of Allowed Administrative Claims (other than Professional Fee Claims) shall be paid solely from the Administrative and Priority Claims Reserve.

• For the avoidance of doubt, any payments made by the Plan Administrator on account of Allowed Priority Tax Claims shall be paid solely from the Administrative and Priority Claims Reserve.

• In the case of undeliverable or unclaimed Distributions on account of Administrative Claims, Priority Tax Claims or Priority Non-Tax Claims, any Cash otherwise reserved for undeliverable or unclaimed Distributions shall revert to the Administrative and Priority Claims Reserve.

More Definitions of Administrative and Priority Claims Reserve

Administrative and Priority Claims Reserve means that amount reserved for the payment of all Administrative Claims, Priority Tax Claims, and Priority Claims which are not Allowed as of the Effective Date or as to which the holder of such Claim has agreed to treatment other than payment in full upon the Effective Date, including, without limitation (i) the statutory commission of the Trustee, (ii) estimated fees and expenses of Professional Persons,(iii) Disputed Administrative Claims, (iv) Disputed Priority Tax Claims, and (v) Disputed Priority Claims.

Administrative and Priority Claims Reserve means a segregated account to be established by the Plan Administrator and funded with the Administrative and Priority Claims Reserve Amount in accordance with Article VIII.D.

Administrative and Priority Claims Reserve means a reserve established by the Wind-Down Trust on the Effective Date to be used to pay Holders of all Allowed Priority Claims and Allowed Administrative Claims (subject to the terms of the Settlement Agreement), to the extent that such claims have not been paid in full on or before the Effective Date. For the avoidance of doubt, Allowed Diminution in Value Claims shall not be included, nor be paid from, the Administrative and Priority Claims Reserve.

Administrative and Priority Claims Reserve means a segregated Cash fund in an amount that is determined by the Court prior to the Effective Date to be an appropriate reserve for the payment of the estimated allowable amount of all Unresolved Administrative and Priority Claims and which shall serve as the sole source of payment of any such claims that are Allowed by Final Order after the Effective Date or that are Allowed but by their respective terms not yet due and payable on the Effective Date.

Administrative and Priority Claims Reserve means the reserve to be established,maintained, and funded in Cash by Post-Effective Date CMTSU LLC in an amount equal to the Administrative and Priority Claims Reserve Amount pursuant to Article IV.G hereof.

Administrative and Priority Claims Reserve means the reserve established in accordance with § 7.4.3 of this Plan for the payment of certain Allowed Administrative Expense Claims, Allowed Priority Tax Claims, and Allowed Priority Claims, which reserve may be augmented by the Liquidating Trustee as set forth in this Plan and the Liquidating Trust Agreement.

Administrative and Priority Claims Reserve means a reserve to be funded by the applicable Supporting Lenders in a reasonable and appropriate amount, which amount shall be subject to the Supporting Lenders’ approval in their sole discretion, for the payment of Administrative Claims pursuant to Article II.A, Priority Tax Claims pursuant to Article II.D, and Other Priority Claims in Class 1.