Claims Reserve definition

Claims Reserve means, collectively, one or more reserves and/or escrows to be established not later than the Effective Date that will provide for the payment in full of Allowed Secured Claims, Allowed Administrative Expense Claims, Allowed Priority Claims, Allowed PACA Claims, Allowed PASA Claims, Allowed Class Action Claims, and Allowed Professional Fee Claims in an amount to be disclosed in the Plan Supplement. All such amounts and reserves and/or escrows shall be subject to the consent of the Prepetition Secured Lender and the Committee.

Claims Reserve means the Company's reserves, determined in accordance with GAAP and the Company's accounting policies, attached hereto as Schedule 1.1(a), consistently applied by the Company, to satisfy claims made by customers with respect to products of the Company or any of its Subsidiaries.

Claims Reserve means remaining cash funds and Revested Assets held by the Plan Administrator after payment in full of all Plan Administration Expenses, Allowed Administrative Claims (including Professional Fee Claims and Administrative Tax Claims), Allowed Priority Tax Claims, Allowed Claims in Class 2, Allowed Claims in Class 3, and the First Interim Distribution to Class 4.

Examples of Claims Reserve in a sentence

• On the Effective Date, the City shall establish the Disputed COP Claims Reserve.

• As disputed claims are resolved, the claimants will receive distributions of shares from the Disputed Claims Reserve on the same basis as if such distributions had been made on or about the Effective Date.

• These claims will be adjudicated in accordance with the unitholder claims process.Pursuant to the Plan, the Monitor is holding the Administrative Costs Reserve, the Insurance Deductible Reserve and the Unresolved Claims Reserve (as each such term is defined in the Plan) (collectively, the “Reserves”) on behalf of the Issuer and its subsidiaries (collectively, the “Arctic Glacier Parties”).

• Fees payable to the Tort Claims Reviewer for review of Class 7 Claims shall be paid from the Future Tort Claims Reserve Fund.

• When all Disputed Claims are resolved and either become Allowed or are disallowed by Final Order, to the extent Cash, New Common Stock and/or Warrants remain in the Disputed Claims Reserve after all Holders of Disputed Claims that have become Allowed have been paid the full amount they are entitled to pursuant to the treatment set forth for the appropriate Class under the Plan, then such remaining Cash, New Common Stock and/or Warrants shall be cancelled or shall vest in the Reorganized Debtor.

More Definitions of Claims Reserve

Claims Reserve means the reserve to be created by the TSC Debtors to hold a contribution of New TSC Notes, which reserve shall be held for the benefit of holders of Unsecured Claims, for distribution according to the procedures set forth in Article VII and Article VIII.

Claims Reserve means the Claims Reserve established pursuant to Section 9.02 of the Plan and the amounts held therein.

Claims Reserve means an amount which has been reserved for Claims and which may only be applied towards the purposes listed in Clause 4.2(e).

Claims Reserve means, with respect to each Debtor, a reserve to be established by the Debtors on or before the Effective Date and comprised of Cash or Digital Assets, as applicable, according to the Distribution Principles, in the amount of the applicable Claims Reserve Amount, less any portion of such amount that is distributed on the Effective Date pursuant to the Plan, which reserve shall vest in the applicable Wind-Down Debtor as of the Effective Date.

Claims Reserve means $1,500,000.

Claims Reserve means as of any date the excess, if any, of (i) the Claims Adjusted Consolidated Net Worth of the Company over (ii) $26,170,656 (which represents the Consolidated Net Worth of the Company as of September 30, 1996, less $2,500,000).

Claims Reserve means that reserve created and held by the Liquidating Trustee to pay Disputed Claims when and to the extent they become Allowed Claims, and to pay Administrative Claims of the Bankruptcy Case that are not yet due, in full with interest.