Liquidation Reserve definition

Liquidation Reserve means a Cash reserve established by the Liquidating Agent, in an amount to be specified in a budget attached to the Confirmation Order, which shall be used for payment of expenses of the Liquidating Agent and the Liquidating Entity in performing their functions under Article VIII of the Plan, including, but not limited to, expenses of liquidating any assets held by the Liquidating Entity, litigating any Pending Debtor Claims, preparing tax returns, filing monthly operating reports in the Bankruptcy Cases (if required), paying quarterly U.S. Trustee's fees (if required), paying fees and expenses of professionals and agents retained by the Liquidating Agent, paying other expenses incurred in the administration of the Liquidating Entity, dissolving the Debtors and, if applicable, WorldCorp LLC, making a final distribution to creditors, and funding the Wind-Up Reserve, if any.

Liquidation Reserve means the record created on the books of the Bank in accordance with Section 6.03 hereof. "LIQUIDATION RESERVE FACTOR" means a factor which shall be established and modified by Bank in its sole discretion from time to time PROVIDED, HOWEVER, that in no event may such factor exceed .03 and PROVIDED FURTHER, that Bank may not make changes to the Liquidation Reserve Factor unless and until Retailers shall have requested in writing that Bank, in the

Liquidation Reserve means the reserve account, initially funded under the Plan, established and maintained by the Liquidation Trustee for payment of costs, fees and expenses of the Liquidation Trust.

Examples of Liquidation Reserve in a sentence

• Liquidation ReserveOn or before the Effective Date, the Debtors shall fund the Liquidation Reserve with the First Lien Term Lender Contribution in accordance with the terms of the Committee Settlement.

• The Liquidating Trustee shall not be permitted to distribute any of the Liquidation Reserve to any Person other than a Person entitled to payment from the Liquidation Reserve (and then such payment shall be permitted in accordance with the terms of the Plan and the Committee Settlement) unless and until all Allowed General Unsecured Claims have been paid in full and all other General Unsecured Claims have been Disallowed or otherwise resolved.

• STATUS UPDATE This Quarterly Report contains the following information: (i) Section A – status of Trust Causes of Action; (ii) Section B – status of Disputed Claims; (iii) Section C - fees and expenses of the Liquidation Trust; (iv) Section D - all other Trust Assets; (v) Section E - distributions from the Liquidation Trust to Secured Lender Beneficiaries and to GUC Beneficiaries; and (vi) Section F - status of the Liquidation Reserve and the Admin/Priority Claims Reserve.

• The Liquidation Reserve shall also be funded by the residual proceeds, if any, from Unencumbered Assets and Available Additional DIP Collateral Proceeds to the extent necessary to allow payment of all Allowed General Unsecured Claims, provided, however, that such proceeds are first applied to pay Allowed Administrative Claims and Allowed Priority Claims in accordance with the Plan and the priority scheme set forth in the Bankruptcy Code.

• The remaining cash will be allocated to a Liquidation Reserve established for the Oxford Debtors (the “Oxford Debtor Reserve” as defined in the Plan) and used to pay the Oxford Secured Claim, the remaining 80%of the Chapter 11 Administrative Claims, and all other tax, secured or priority claims asserted against the Oxford Debtors.

More Definitions of Liquidation Reserve

Liquidation Reserve has the meaning set forth in Insert A attached hereto and made a part hereof.

Liquidation Reserve means a portion of availability under the Alcore Borrowing Base equal to $200,000 (or such lower amount as may be approved by the Lender in its sole discretion) to be reserved for any and all potential costs associated with liquidating Alcore's Equipment located at its Jessup, Maryland facility (such as costs of advertising and sale, rent payable in the event such premises are vacated by Alcore, damages or other costs payable to the landlord by the Lender, and any amounts payable to the landlord from the proceeds of any sale of the Alcore Equipment).

Liquidation Reserve means, one and one-half (1.5) times the product of (i) the Greatest Amount of Net Eligible Advances at such time and (ii) the greatest of (x) the most recently calculated Liquidation Ratios, (y) the Liquidation Ratio for the immediately preceding calendar year and (z) the average of the Liquidation Ratios for the three immediately preceding calendar years.

Liquidation Reserve means, at any time, the greater of (x) an amount equal to 2% of the Greatest Amount of Net Eligible Advances at such time and (y) an amount equal to two (2) times the greatest amount of annual Liquidation Costs computed for all Acquired Advances for the three immediately preceding calendar years.

Liquidation Reserve means Cash held in the Liquidation Trust retained by the Liquidation Trustee as a reserve to cover (i) the costs and expenses of administering the Liquidation Trust and liquidating the Remaining Assets, including compensation of the Liquidation Trustee; and (ii) amounts that the Liquidation Trust anticipates may become due under this Plan to Holders of Allowed Claims and Interests.

Liquidation Reserve has the meaning set forth in Section 6.1(B)(iv).

Liquidation Reserve means, at any time of calculation, an amount equal to the product of the Cost of Store Closing Inventory multiplied by the then prevailing discount established by the Borrower or a Borrower Retail Subsidiary or their respective agents against the original retail price for such Store Closing Inventory, provided that no Liquidation Reserve shall be established for any sale of Store Closing Inventory until the beginning of the sixth week of any such sale.