Administrative and Priority Claims Reserve Amount definition

Administrative and Priority Claims Reserve Amount means Cash in the amount of $2.0 million plus such additional amounts as may be necessary to satisfy in full all Allowed Administrative Claims, Allowed Priority Tax Claims, Allowed Other Priority Claims, and Allowed Other Secured Claims that are not otherwise expressly contemplated for satisfaction pursuant to the Wind-Down Budget, which aggregate amount shall be funded into the Administrative and Priority Claims Reserve.
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Administrative and Priority Claims Reserve Amount means (i) on the EffectiveDate, an amount determined by the Debtors, and (ii) at any time after the Effective Date, an amount determined by the Manager, which amount, in each case, shall be sufficient to pay all accrued but unpaid U.S. Trustee Fees and Priority 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 and include reserves for Disputed Priority Claims, amounts needed to fund the ongoing costs and expenses of such reserve, and the payment of taxes, if any.
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Administrative and Priority Claims Reserve Amount means Cash in an amount to be determined by the Debtor or the Reorganized Debtor on or before the Effective Date, which amount shall be funded by the Debtor and used by the Reorganized Debtor for the payment of accrued but unpaid U.S. Trustee Fees and Administrative, Priority Tax, Other Priority, and Professional Fee 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.
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Examples of Administrative and Priority Claims Reserve Amount in a sentence

  • On the Effective Date, the Liquidation Trustee shall establish the Administrative and Priority Claims Reserve with the Administrative and Priority Claims Reserve Amount, funded from the Sale Proceeds, which funds shall vest in the Liquidation Trust free and clear of all liens, Claims, encumbrances, charges and other interests.

  • The Administrative and Priority Claims Reserve shall be funded in the amount of the Administrative and Priority Claims Reserve Amount.

  • The Administrative and Priority Claims Reserve Amount shall be used to pay Holders of Allowed Priority Tax Claims, Allowed Other Priority Claims, Allowed Administrative Claims (other than Professional Fee Claims or DIP Claims), and Allowed Other Secured Claims in full.

  • Notwithstanding anything to the contrary herein, neither the Plan Administrator, the Post- Effective Date Debtor, the Term Loan Agent, the Term Loan Lenders, nor any other party in interest shall be obligated to fund the Administrative and Priority Claims Reserve in excess of the amount approved by the Bankruptcy Court under the Confirmation Order —i.e., the Administrative and Priority Claims Reserve Amount.

  • Notwithstanding anything to the contrary herein, neither the Plan Administrator, the Post-Effective Date Debtor, the Term Loan Agent, the Term Loan Lenders, nor any other party in interest shall be obligated to fund the Administrative and Priority Claims Reserve in an aggregate amount in excess of the Administrative and Priority Claims Reserve Amount.

  • On the Effective Date, the Liquidation Trustee shall establish the Administrative and Priority Claims Reserve with the Administrative and Priority Claims Reserve Amount, which shall be used by the Liquidation Trustee only for the payment of Administrative Expense Claims, Priority Tax Claims, Other Priority Claims, Secured Tax Claims, and Other Secured Claims allowed before or after the Effective Date, to the extent that the foregoing Claims have not been paid in full on or prior to the Effective Date.

  • On the Effective Date, the Debtors shall fund, and the Plan Administrator shall establish and thereafter maintain, the Administrative and Priority Claims Reserve with the Administrative and Priority Claims Reserve Amount in an authorized depository in the District of Delaware, which funds shall vest in the Post-Effective Date Debtor free and clear of all liens, Claims, encumbrances, charges, and other interests, except as otherwise specifically provided in the Plan or in the Confirmation Order.

  • On the Effective Date, the Plan Administrator shall establish the Administrative and Priority Claims Reserve with the Administrative and Priority Claims Reserve Amount, funded with respect to (i) Administrative Expense Claims; (ii) Priority Tax Claims; and (iii) Other Priority Claims.


More Definitions of Administrative and Priority Claims Reserve Amount

Administrative and Priority Claims Reserve Amount means Cash in an amount equal to $33,200,000 less (a) the DIP Financing Claims Amount, less (b) to the extent Allowed on the Effective Date, the Completion Fees, less (c) the aggregate amount of all Other Secured Claims that are Allowed on the Effective Date, less (d) the aggregate amount of all Administrative Expense Claims that are Allowed on the Effective Date, less (e) the aggregate amount of all Priority Tax Claims and Priority Non-Tax Claims that are Allowed on the Effective Date.
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Administrative and Priority Claims Reserve Amount means Cash in an amount to be determined by the Debtors and the Term Loan Agent, in consultation with the Committee, as set forth in the Plan Supplement, which amount shall be funded by the Debtors and used by the Plan Administrator for the payment of Priority Claims Allowed after the Effective Date to the extent that such Priority Claims have not been paid in full on or before the Effective Date.
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Administrative and Priority Claims Reserve Amount means Cash in an amount equal to (a) the aggregate amount, if any, outstanding under the DIP Financing Agreement and Final DIP Order, plus (b) the aggregate amount of the Cash Collateral True-Up Claim to the extent unpaid as of the Effective Date, plus (c) the aggregate amount of all other Administrative Expense Claims that are Allowed on the Effective Date (excluding Professional Claims), plus (d) the aggregate amount of all Priority Tax Claims that are Allowed on the Effective Date, plus (e) the aggregate amount of all Disputed Administrative Expense Claims (excluding Professional Claims), Disputed Priority Tax Claims, and Disputed Other Priority Claims. For the avoidance of doubt, the Administrative and Priority Claims Reserve Amount shall not include Cash in an amount equal to the Allowed Claims of the Lenders pursuant to Bankruptcy Code section 507(b).
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Related to Administrative and Priority Claims Reserve Amount

  • Priority Claims means, collectively, Priority Tax Claims and Other Priority Claims.

  • DIP Facility Claims means all Claims held by the DIP Facility Agent and the DIP Facility Lenders pursuant to the DIP Facility Agreements and the Final DIP Order.

  • DIP Facility Claim means a Claim arising under or as a result of the DIP Facility.

  • Priority Claim means a Claim that is entitled to priority in payment pursuant to section 507(a) of the Bankruptcy Code that is not an Administrative Claim or a Priority Tax Claim.

  • Other Priority Claims means any Claim, other than an Administrative Claim or a Priority Tax Claim, entitled to priority in right of payment under section 507(a) of the Bankruptcy Code.

  • Class A Cash Collateral Account means, in respect of the Class A Liquidity Facility, an Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible Institution, which shall be the Subordination Agent if it so qualifies, into which amounts shall be deposited as referred to in Section 3.05(f).

  • Other Priority Claim means any Claim other than an Administrative Claim or a Priority Tax Claim entitled to priority in right of payment under section 507(a) of the Bankruptcy Code.

  • Additional First Lien Obligations means, with respect to any Series of Additional First Lien Obligations, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional First Lien Obligations, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of the foregoing.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Second Priority Debt Obligations means the Initial Second Priority Debt Obligations and, with respect to any series, issue or class of Second Priority Debt, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Second Priority Debt, (b) all other amounts payable to the related Second Priority Debt Parties under the related Second Priority Debt Documents and (c) any renewals or extensions of the foregoing.

  • L/C Cash Collateral Account means any Cash Collateral Account (a) specifically designated as such by the Borrower in a notice to the Administrative Agent and (b) from and after the effectiveness of such notice, not containing any funds other than those required under the Loan Documents to be placed therein.

  • Senior Priority Obligations means the Original First Lien Obligations and any Additional Obligations constituting Senior Priority Debt.

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • Disputed Claims Reserve means a reserve of Cash that may be funded on or after the Effective Date pursuant to Article VII.E hereof.

  • Superpriority Claim means a claim against the Borrower and any Guarantor in any of the Cases which is an administrative expense claim having priority over any or all administrative expenses of the kind specified in Sections 503(b) or 507(b) of the Bankruptcy Code.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Available Reserve Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Reserve Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Reserve Account made or to be made with respect to such date) and (b) the Required Reserve Account Amount, in each case on such Transfer Date.

  • Priority Amount As to any Distribution Date, the amount equal to the sum of (i) the product of (A) the Scheduled Principal Distribution Amount, (B) the Shift Percentage and (C) the Priority Percentage and (ii) the product of (A) the Unscheduled Principal Distribution Amount, (B) the Shift Percentage and (C) the Priority Percentage.

  • Administrative Claims Bar Date means the deadline for Filing requests for payment of Administrative Claims, which: (a) with respect to Administrative Claims other than Professional Fee Claims, shall be 30 days after the Effective Date; and (b) with respect to Professional Fee Claims, shall be 45 days after the Effective Date.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Administrative Claim Bar Date means the deadline for filing requests for payment of Administrative Claims, which shall be 30 days after the Effective Date.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Junior Priority Obligations means the Original Second Lien Obligations and any Additional Obligations constituting Junior Priority Debt.

  • Initial Additional First Lien Obligations means the [Obligations] as such term is defined in the Initial Additional First-Lien Security Agreement.

  • Collateral Available Funds means with respect to any Distribution Date, the Collateral Floating Percentage of Reallocated Investor Finance Charge Collections with respect to the preceding Monthly Period.