Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 (%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.
Establishment of a Reserve. For each Purchased Receivable that has not been Closed, Buyer shall set aside in the Reserve an amount equal to the difference between 100% of the face amount of the Purchased Receivable and the Advance. The Reserve shall not be a segregated fund. Buyer’s maintenance of the Reserve shall not vest the Seller with any right, title, or interest therein as it is understood that the Reserve is set up as security to pay the Obligations of Seller. Buyer may change the percentage of the Reserve amount at any time in its sole discretion without notice to Seller. Funds in the Reserve shall be released upon Buyer’s discretion.
Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall, unless waived by Buyer in its sole discretion, establish a Reserve. The Reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance (the "Reserve"). The Reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.
Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall, unless waived by Buyer in its sole discretion, establish a Reserve. The Reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance or the Reserve may be established from collections which Buyer may receive on any Account, Purchased Receivable, or Proceeds of any other Collateral (the “Reserve”). The Reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund, and may be accumulated by Buyer, or released to Seller, in any amount, in Buyer’s sole discretion. In order to facilitate the payment and performance of all Obligations, Buyer may, at any time, in its sole discretion: (a) adjust the Reserve upward or downward; or (b) pay into the Reserve collections received on any Account, Purchased Receivable, or the Proceeds of any other Collateral. Buyer’s maintenance of the Reserve shall not vest the Seller with any right title, or interest therein as it is understood that the Reserve is an account established to facilitate the payment and performance of all Obligations. Buyer in its discretion may increase the Reserve to account for any potential Avoidance Claim.
Establishment of a Reserve. The Litigation Trustee shall establish an Operating Reserve funded initially in an amount of $2,500,000. The Operating Reserve may be modified, from time to time, in the reasonable discretion of the Litigation Trustee, with Trust Cash, in an amount determined by the Litigation Trustee to be reasonably necessary to pay existing and anticipated Trust Costs, to fund litigation, to fund contingent liabilities, and to otherwise conduct the affairs and to satisfy existing and anticipated liabilities and obligations of the Trust. If the amount of the Operating Reserve to be established or maintained is determined in good faith by the Litigation Trustee, neither the Litigation Trustee nor its Professionals shall have any liability if such Operating Reserve proves to be excessive or insufficient.
Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a Reserve. The Reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance or the Restive may be established from collections which Buyer may receive on any Account, Purchased Receivable, or Proceeds of any other Collateral (the “Reserve”). The Reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund, and may be accumulated by Buyer, or released to Xxxxxx, in any amount, in Buyer’s sole discretion. In order to facilitate the payment and performance of all Obligations, Buyer may, at any time, in its sole discretion: (a) adjust the Reserve upward or downward; or (b) pay into the Reserve collections received on any Account, Purchased Receivable, or the Proceeds of any other Collateral. Buyer’s maintenance of the Reserve shall not vest the Seller with any right title, or interest therein as it is understood that the Reserve is an account established to facilitate the payment and performance of all Obligations. Buyer in its discretion may increase the Reserve to account for any potential Avoidance
Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the “Reserve”); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20(%) percent of the Account Balance at that time, and not less than 35(%) percent with respect to the initial purchase, and such amount may be set at a higher percentage at Buyer’s sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund. 3.
Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 30(%) percent (or 20(%) percent on Purchased Receivables with terms of ----- ----- 30 days or less) of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.
Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall, unless waived by Buyer in its sole discretion, establish a Reserve. The Reserve initially shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance (the "Reserve"). For the purpose of calculating the Refund pursuant to SECTION 5 or the Repurchase Price pursuant to SECTION 4.1, the Reserve shall be reduced by the amount of any collections received with respect to such Purchased Receivable in excess of the amount of the related Advance. The Reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.
Establishment of a Reserve. (a) The Distribution Trust shall establish a reserve fund for disputed or unresolved Bankruptcy Claims and Interests of the Trust Beneficiaries (the "Claim Reserve"). The amount of cash withheld as a part of the Claim Reserve shall be equal to the amount the Trustee reasonably determines is necessary to satisfy the distributions required to be made to each Trust Beneficiary of such class when the allowance or disallowance of each Trust Claim or Interests therein is ultimately determined. The Trustee shall segregate in a separate account the Claim Reserve from other monies held by the Trustee pursuant to this Agreement.
(b) The Trustee shall timely elect to treat Claim Reserve as a "disputed ownership fund" pursuant to Treasury Regulations section 1.468B-9(c)(2)(ii). Consistent therewith, the Trustee shall prepare and timely file income tax returns for the Claim Reserve (which shall be separate and apart from any income tax returns prepared and filed for the Distribution Trust) as a C corporation or a qualified settlement fund, as the case may be, and shall pay any income taxes owing by or imposed on the Claim Reserve. The Trustee shall make such election by attaching a statement to that effect to the timely filed Federal income tax return of the Claim Reserve for the first taxable year of the Claim Reserve's existence and shall include the legend, in boldfaced type, "§1.468B-9(c) Election" at the top of the page. To the extent permitted by applicable law, the Trustee shall report consistent with the foregoing for state and local income tax purposes. The Trustee shall file any information returns and make any tax deposits required to be made by applicable Federal, state or local law.
(c) All Trust Beneficiaries shall report, for tax purposes, consistently with the provisions of this Section 5.2.
