Claims Reserve Account definition

Claims Reserve Account means the account opened pursuant to the Amendment and Restatement Agreement and further described in Clause 11 of the Intercreditor Agreement;

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Claims Reserve Account means one or more interest-bearing bank account(s), money market or securities account(s) to be established and held in trust by the Master for the purpose of holding the Available Cash

Claims Reserve Account means a segregated account to be established by the Debtors into which Cash in the amount of the Claims Reserve Cash Amount shall be deposited on or before the Effective Date, which account shall vest in the Plan Administration Trust as of the Effective Date.

Examples of Claims Reserve Account in a sentence

• The Unsecured Claims Trustee intends to make an election pursuant to Treasury Regulations section 1.468B-9 to treat the Disputed Unsecured Claims Reserve Account (as defined below) as a “disputed ownership fund.” The Unsecured Claims Trustee will act as the “administrator,” within the meaning of Treasury Regulations section 1.468B-9(b)(2), of such funds.

• The Unsecured Claims Trustee will allocate taxable income or loss to the Disputed Unsecured Claims Reserve Account with respect to any taxable year that would have been allocated to the holders of Disputed Unsecured Claims had such Claims been Allowed on the Effective Date (but only for the portion of the taxable year with respect to which such Claims are Disputed Unsecured Claims).

• All parties (including, without limitation, the Debtors, the Reorganized Debtors, the Unsecured Claims Trust, the Unsecured Claims Trustee, the Unsecured Claims Trust Board, the Unsecured Claims Trust Beneficiaries and the holders of Unsecured Claims Trust Interests) shall treat the Disputed Unsecured Claims Reserve Account in accordance with the foregoing for all federal income tax purposes.

More Definitions of Claims Reserve Account

Claims Reserve Account means an interest bearing bank account or money

Claims Reserve Account means a segregated account to be established by the Debtors into which

Claims Reserve Account means the segregated interest bearing account to be set aside from all the assets remaining in the Estates on the Trust Transfer Date, pursuant to section 7.3 of this Plan, and to be administered by the Liquidating Trustee after the Trust Transfer Date, which account shall contain funds sufficient to pay all unliquidated, contingent, or Disputed Claims, including the Prudential Stock or the proceeds thereof, as of the Trust Transfer Date.

Claims Reserve Account means a segregated account to be established by the Debtors into which Cash in an amount approved by the Pre-Petition Revolving Credit Lender for unpaid or Disputed Administrative Claims (other than Professional Fee Claims), statutory fees in accordance with Article II.C, Other Secured Claims, Priority Tax Claims and Other Priority Claims shall be deposited on or before the Effective Date, which account shall vest in the Liquidating Trust as of the Effective Date; provided that any amounts in the Claims Reserve Account not required to pay Allowed Administrative Claims (other than Professional Fee Claims), statutory fees in accordance with Article II.C, Allowed Other Secured Claims, Allowed Priority Tax Claims or Allowed Other Priority Claims shall constitute “Available Cash”.

Claims Reserve Account means an interest bearing bank account or money market account to be established and held in trust for the benefit of holders of Allowed Unsecured Claims by the Disbursing Agent on or after the Effective Date for the purpose of holding the Unsecured Creditor Contribution to be distributed under the Plan to Unsecured Creditors and for Plan Expenses, and any interest, dividends or other income earned upon the investment of such Claims Reserve Account. The Claims Reserve Account will be funded in the amount of the Unsecured Creditor Contribution pursuant to the terms of this Plan.

Claims Reserve Account means an interest bearing bank account or money market account to be established and held in trust by the Disbursing Agent on or after the Effective Date for the purpose of holding the Plan Proceeds to be distributed under the Plan and any interest, dividends or other income earned upon the investment of such Claims Reserve Account. The Claims Reserve Account will be funded by the Debtor on or immediately after the Effective Date with the Available Cash and, following the Effective Date, from time to time, by the Reorganized Debtor, with (i) any Liquidation Proceeds realized after the Effective Date; plus (ii) any Litigation Recovery realized after the Effective Date; minus (iii) any amounts necessary to pay Plan Expenses.

Claims Reserve Account means an interest bearing bank account or money market account to be established and held in trust by the Liquidating Trustee on or after the Effective Date for the purpose of holding the Plan Proceeds to be distributed under the Plan and any interest,