Claim Reserve definition

Claim Reserve means the Disabled Life Reserve plus the reserve for pending and incurred but not reported claim payments as further defined herein.

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Claim Reserve means the Disabled Life Reserve and reserve for pending and incurred but not reported future claim payments as further defined herein.

Claim Reserve means the amount represented by all Open Claims;

Examples of Claim Reserve in a sentence

The Professional Fee Claim Reserve shall be maintained in trust for the Professionals and shall not be considered property of the Debtors’ Estates; provided that the Reorganized Debtors shall have a reversionary interest in the Unused Cash Reserve Amount.
To the extent that funds held in the Professional Fee Claim Reserve do not or are unable to satisfy the full amount of the Allowed Professional Fee Claims, such Professionals shall have an Allowed Administrative Claim for any such deficiency, which shall be satisfied in full in Cash in accordance with Article II.A of this Plan.
REINSURER will withhold the Claim Reserve from the Coinsurance Premium and place it in a trust account in a bank chosen by REINSURER for the sole purpose of paying such claims.
If such payment, settlement, compromise or judgment arises from Claim(s), REINSURER’s payment will be made from the Claim Reserve.
However, if any such payment, settlement, compromise, or judgment which is attributable, in whole or in part, to contract liability Claims is made after the return of the Claim Reserve (and the parties have not continued the Claim Reserve to address the risk at issue), then CEDENT shall be responsible for any portion attributable to contract liability.
The Pending Claim Reserve shall remain in the Indemnity Escrow Account until the resolution of the applicable claim or claims to which such reserve relates.
At the time of the Confirmation Hearing, the Bankruptcy Court may resolve any dispute between the Chapter 11 Trustee and the Liquidating Trustee regarding the appropriate amount to reserve in the Claim Reserve Account.
To the extent the Professional Fee Claim Reserve is insufficient to pay in full in Cash the obligations and liabilities for which such reserve was established, then the Reorganized Debtors shall, within five (5) Business Days, pay such obligations and liabilities in full in Cash.
The Reorganized Debtors shall not commingle any funds contained in the Professional Fee Claim Reserve and shall use such funds to pay only the Professional Fee Claims, as and when allowed by order of the Bankruptcy Court.
The Debtor’s remaining Cash, as well as any remaining amount in the Claim Reserve Account after all the disputed claims are resolved and paid, will be split between the Disbursement Escrow and the Reorganized Debtor in proportion to the number of shares selecting each option under the Plan.

More Definitions of Claim Reserve

Claim Reserve shall have the meaning set forth in Section 5.2.

Claim Reserve means, with respect to Claims Incepted in a Claim Inception Year, the actuarial present value of future benefit amounts due on claims, computed (i) at an effective annual rate of interest of 6% and (ii) using 100% of the 1985 Commissioners’ Individual Disability Income Table A for claim termination rates, as such actuarial present value is reduced or increased in accordance with such adjustments as are agreed in writing by the parties hereto from time to time.

Claim Reserve has the meaning specified in Section 14.11.

Claim Reserve means the aggregate amount (based on a reasonable good faith estimate by Acquiror) of all pending Indemnity Claims that, as of the Interim Distribution Date or the Expiration Date (as the case may be), have not yet finally been resolved and/or for which the full amount of Damages has not finally been determined and is not yet determinable.