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 XXXX 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 that reserve of Company funds, if any, held by the Company in connection with its process of winding up for the purpose of addressing obligations of the Company which may become due during the winding up process or after the termination of the Company.
Examples of Liquidation Reserve in a sentence
The Depositor will be the owner of the Liquidation Reserve Fund for federal tax purposes and the Depositor shall direct the Trust Administrator in writing as to the investment of amounts therein.
The funds on deposit in the Liquidation Reserve Fund shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Trust Administrator pursuant to this Agreement.
The Trust Administrator shall deposit any such Excess Liquidation Proceeds received into the Liquidation Reserve Fund.
The Trust Administrator shall treat amounts paid by the Liquidation Reserve Fund as payments made from outside each of the REMICs for all federal tax purposes.
The Trust Administrator shall account for the Liquidation Reserve Fund as an outside reserve fund within the meaning of Treasury regulation 1.860G-2(h) and not an asset of any REMIC created pursuant to this Agreement.
More Definitions of Liquidation Reserve
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.
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.
Liquidation Reserve means that certain Reserve in the amount of $1,535,000 established in connection with Administrative Agent’s consent to the senior Liens granted by EMS OpCo, Bob’s, Sport Chalet, and Team Sales to the Inventory Liquidators pursuant to the GOB Agreement.
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, 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 has the meaning set forth in Section 6.1(B)(iv).