GUC Budget Excess definition

GUC Budget Excess means an amount, as of the Effective Date, after accounting for any amounts reserved for Claims, equal to fifty percent (50%) of any unused portion of the following line items set forth in the Approved Budget: (i) the REC Budget Line Item; (ii) the Sales Tax Budget Line Item; and (iii) Priority Claims Budget Line Item; and after the Effective Date, inclusive of fifty percent (50%) of any funds reserved from the foregoing budget line items in the event they are not used to pay Claims provided, however, that the GUC Budget Excess shall not exceed $1.5 million in the aggregate.
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GUC Budget Excess means an amount, as of the Effective Date, equal to fifty percent (50%) of any unused portion of the following line items set forth in the Approved Budget dated April [], 2020 [Docket No []: (i) the $1,623,686 line item for payment of renewable energy certificates or alternative compliance payments; (ii) the $2.5 million line item for payment of sales taxes; and (iii) the $750,000 line item for payment of priority claims; provided, however, that the GUC Budget Excess shall not exceed $1.5 million in the aggregate.
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Examples of GUC Budget Excess in a sentence

  • Except with respect to the GUC Budget Excess, any amounts reserved to satisfy Non-Tax Priority Claims that are ultimately Disallowed shall remain collateral securing the Prepetition BP Secured Claim and shall be distributed to BP on account of the Prepetition BP Secured Claim upon disallowance of such Non-Tax Priority Claims.

  • Except with respect to the GUC Budget Excess, any amounts reserved to satisfy Professional Fee Claims that are ultimately Disallowed shall remain collateral securing the Prepetition BP Secured Claim and shall be distributed to BP on account of the Prepetition BP Secured Claim upon disallowance of such Professional Fee Claims.

  • Except with respect to the GUC Budget Excess, any amounts reserved to satisfy Administrative Expense Claims that are ultimately Disallowed shall remain collateral securing the Prepetition BP Secured Claim and shall be distributed to BP on account of the Prepetition BP Secured Claim upon disallowance of such Administrative Expense Claims.

  • The Liquidation Trustee shall remove funds from the Disputed Confirmation Reserve as Disputed Administrative Expense Claims, Disputed Other Secured Claims, Disputed Priority Tax Claims, and Disputed Non-Tax Priority Claims are resolved, which funds shall be distributed as provided in this Plan (including with respect to any GUC Budget Excess), and any excess shall be returned to BP.

  • Except with respect to the GUC Budget Excess, any amounts reserved to satisfy Priority Tax Claims that are ultimately Disallowed shall remain collateral securing the Prepetition BP Secured Claim and shall be distributed to BP on account of the Prepetition BP Secured Claim upon disallowance of such Priority Tax Claims.

  • Many cloud service customers have not fully developed their abilities to monitor for configuration changes in cloud services, so configuration drift may go unnoticed, extending the exposure time.13In addition, although virtualization and cloud services should provide containment to prevent exposure of the hypervisor or other tenants, there are occasions when software vulnerabilities allow an adversary to escape from the containment and move laterally within the cloud infrastructure.

  • The Liquidation Trustee shall remove funds from the Disputed Confirmation Reserve as Disputed AdministrativeExpense Claims, Disputed Other Secured Claims, Disputed Priority Tax Claims, and Disputed Non-Tax Priority Claims are resolved, which funds shall be distributed as provided in this Plan (including with respect to any GUC Budget Excess), and any excess shall be returned to BP.

  • Except with respect to the GUC Budget Excess, any amounts reserved to satisfy Priority Tax Claims that are ultimately Disallowed shall remain collateral securing the Prepetition BP Secured Claim and shall bedistributed to BP on account of the Prepetition BP Secured Claim upon disallowance of such Priority Tax Claims.

  • Confirmation Amount” means all Cash, which shall be funded from the Effective Date Cash, that is necessary to pay or reserve for Allowed Administrative Expense Claims, Allowed Priority Tax Claims, Allowed Non-Tax Priority Claims, Professional FeeClaims, Allowed Other Secured Claims, the GUC Budget Excess, and the Initial Liquidation Trust Funding, but shall not include any such amounts previously paid pursuant to the Approved Budget.

Related to GUC Budget Excess

  • Budget means a resource, expressed in financial terms, proposed by the Board for the purpose of carrying out, for a specific period, any or all of the functions of the Trust.