Priority Reserves Sample Clauses

Priority Reserves. An account or accounts, designated as a “priority reserve,” as more fully described in Section 2.3 below (the “Priority Reserves”).

Priority Reserves. (a) On the Effective Date (or as soon thereafter as is practicable), the Plan Administrator shall create and fund the Priority Reserves with an amount of Cash equal to the sum, without duplication, of (i) all Allowed or Provisionally Allowed but unpaid ACC Secured Claims, Subsidiary Debtor Secured Claims, Priority Tax Claims (except to the extent included in the Postpetition Tax Reserve or the Prepetition Tax Reserve), ACC Priority Claims, Subsidiary Debtor Priority Claims, and Bank Fee Claims, and estimates thereof, for contingent and/or unliquidated claims, and (ii) the aggregate Disputed Claim Amount of all Disputed ACC Secured Claims, Disputed Subsidiary Debtor Secured Claims, Disputed Priority Tax Claims (except to the extent included in the Postpetition Tax Reserve or the Prepetition Tax Reserve), Disputed ACC Priority Claims, and Disputed Subsidiary Debtor Priority Claims. (b) On or prior to each Subsequent Distribution Date, the Plan Administrator shall determine the type, kind and amount of Cash required to adequately maintain each of the Priority Reserves on and after such date. If, and to the extent that, after making and giving effect to the determination referred to in the immediately preceding sentence, the Plan Administrator determines that any of the Priority Reserves containing Cash in excess of the Cash then required to adequately maintain that Priority Reserve, the Plan Administrator shall transfer such surplus Cash to the General Account.