Distribution Trust Operating Reserve definition

Distribution Trust Operating Reserve means such reserve of Cash determined from time to time by the Distribution Trustee pursuant to the Distribution Trust Agreement to be reasonably necessary to pay Distribution Trust Operating Expenses, including (a) the unpaid liabilities, debts, or obligations of the Distribution Trust; (b) the fees and expenses of the Distribution Trustee; (c) all fees and expenses of professionals retained by the Distribution Trust; and (d) any and all other costs associated with the liquidation or preservation of the Distribution Trust Assets.
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Distribution Trust Operating Reserve means such reserve of Cash determined from time to time by the Distribution Trustee pursuant to the Distribution Trust Agreement to be reasonably necessary to pay Distribution Trust Operating Expenses, including
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Distribution Trust Operating Reserve means such reserve of Cash
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Examples of Distribution Trust Operating Reserve in a sentence

  • Distribution Trust Available Cash” means the Cash on deposit in the Distribution Trust Account at any time, less the Distribution Trust Operating Reserve.

  • Other Priority Claims, (iii) Priority Tax Claims, (iv) Other Secured Claims; plus (b) the GUC Recovery, subject to Section 5.1.4(b) hereof; plus (c) accrued interest on all Cash in the Distribution Reserve; plus (d) Cash in the amount of all taxes previously incurred by the Debtor (and not paid or otherwise provided for under the Plan); plus (e) the Distribution Trust Operating Reserve, including under Articles VI and XIII of the Plan.

  • The Distribution Trust Operating Reserve initially shall be funded with the Distribution Trust Seed Money.

  • The Plan is feasible because the funds being transferred to the Distribution Trust will be more than sufficient to pay all Other Secured Claims, Administrative Claims, Priority Tax Claims, and Other Priority Claims and to fund the GUC Recovery reserve and Distribution Trust Operating Reserve.

  • I believe the Plan is feasible because the funds being transferred to the Distribution Trust will be more than sufficient to pay all Other Secured Claims, Administrative Claims, Priority Tax Claims, and Other Priority Claims and to fund the Distribution Reserve, including the GUC Recovery reserve and Distribution Trust Operating Reserve.

  • Moreover, the Distribution Trustee is authorized and directed to serve as the plan administrator of the Debtor’s 401(k) plan, to cause all appropriate or necessary documents related thereto to be prepared or filed timely, and to pay, from the Distribution Trust Operating Reserve, all costs and expenses he or she deems necessary or advisable in connection with the Debtor’s 401(k) plan.

Related to Distribution Trust Operating Reserve

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.

  • Companion Distribution Account shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

  • Class R-2 Residual Interest The uncertificated undivided beneficial interest in REMIC II which has been designated as the single class of “residual interest” in REMIC II pursuant to Section 2.11. The Class R-2 Residual Interest, together with the REMIC II Regular Interests, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • Class R-1 Residual Interest The uncertificated undivided beneficial interest in REMIC I which has been designated as the single class of “residual interest” in REMIC I pursuant to Section 2.06.

  • Class R Residual Interests The Class R-1 and Class R-2 Residual Interests (which shall be transferable only as a unit evidenced by the Class R Certificates, in accordance with the applicable provisions of Section 5.01).

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) shall be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • Certificate Distribution Amount means, as of any Payment Date, the amount being distributed to the Trust Certificateholders on such Payment Date.

  • Certificate Account The account maintained by the Trustee in accordance with the provisions of Section 4.04.

  • Distribution Report The meaning specified in Section 10.7(b).

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • REMIC I Distribution Amount For any Distribution Date, the REMIC I Available Distribution Amount shall be distributed to the REMIC I Regular Interests and the Class R-1 Residual Interest in the following amounts and priority:

  • Servicing Reserve means, the product (expressed as a percentage) of (a) 1%, times (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 months and the denominator of which is 360.

  • Class IO Distribution Amount As defined in Section 5.07(f) hereof. For purposes of clarity, the Class IO Distribution Amount for any Distribution Date shall equal the amount payable to the Supplemental Interest Trust on such Distribution Date in excess of the amount payable on the Class IO Interest on such Distribution Date, all as further provided in Section 5.07(f) hereof.

  • REMIC IV Distribution Amount shall not cause a reduction in the Class Principal Balances of any of the Classes of REMIC IV Regular Interests; and