Unsecured Claims Reserve definition

Unsecured Claims Reserve means the reserve of Reserved Shares and/or Cash, if any, established pursuant to Section 7.4.a for Class 9, which reserve will be maintained in trust for holders of Allowed Claims in such Class 9 and will not constitute property of any of the Reorganized Debtors.

Unsecured Claims Reserve means the reserve holding cash, if any, Reserved Shares and Reserved Warrants, if any, established pursuant to Section VI.D.1 for a Division in Class 11, which reserve will be maintained in trust for holders of Allowed Claims in such Division of Class 11 and will not constitute property of any of the Reorganized Debtors.

Unsecured Claims Reserve means New Common Stock with an aggregate value equal to 100% of the Distributions to which Holders of Disputed General Unsecured Claims would be entitled under this Plan (as of the date that the reserve is established) if such Disputed Claims were Allowed Claims, or such other amount as agreed to by the Debtors and the applicable holder of a Disputed General Unsecured Claim or as set forth in an order of the Bankruptcy Court.

Examples of Unsecured Claims Reserve in a sentence

• The Liquidation Trust will use the Net Daimler Proceeds and any General Unsecured Daimler Fund Balance to: (A) establish the General Unsecured Claims Reserve and (B) fund any identified or projected deficiencies in the Trust Accounts as determined by the Liquidation Trustee.

• Any amount remaining in the Worldwide General Unsecured Claims Reserve being held for the benefit of Disputed Worldwide General Unsecured Claims after reconciliation of all Worldwide General Unsecured Claims asserted against the Debtors shall be distributed to Holders of Allowed Worldwide General Unsecured Claims in accordance with the provisions of the Plan, subject to any New Equity being retained by the Reorganized Debtors pursuant to the terms of the Worldwide GUC Cash-Out Option Payment.

• The Liquidation Trustee may establish (i) a separate account (or sub-account) for the General Unsecured Claims Reserve, as set forth in Section IV.G.2.b.ix; (ii) one or more distribution accounts, as contemplated by Section V.B.1; or (iii) such other accounts (or sub-accounts) as may be necessary, appropriate or desirable and that are consistent with the Plan.

• The treatment received by each holder of First Lien Claims shall be on account of its entire First Lien Claim, including any First Lien Deficiency Claim, and the holders of First Lien Claims shall be deemed to waive all turnover provisions under the Intercreditor Agreement solely with respect to distributions from the Unsecured Claims Reserve Amount and the Second Lien Claims Reserve Account.

• If the Available Net Daimler Proceeds are less than the Minimum Distribution Threshold, the Available Net Daimler Proceeds and any General Unsecured Claims Reserve will be distributed to one or more Charitable Organizations, as further set forth in Section II.A.1.c.iv.

More Definitions of Unsecured Claims Reserve

Unsecured Claims Reserve means the amount of the Unsecured Creditor Distribution funded into the Unsecured Creditor Distribution Escrow Account on the Effective Date in accordance with Article VII.B.1.

Unsecured Claims Reserve means the reserve to be established and maintained by Reorganized RoomStore pursuant to the terms hereof containing sufficient New RoomStore Common Stock to make Distributions that may be made on account of any Disputed Unsecured Claims pending the entry of a Final Order allowing or disallowing such Disputed Unsecured Claims.

Unsecured Claims Reserve means the escrow for Reserved Shares established for Allowed Claims in Class 5, which will not constitute property of the Reorganized Debtor or any of the Reorganized Debtor Subsidiaries.

Unsecured Claims Reserve means the interest-bearing account that may be established by the Liquidating Trustee and added to each time the Trustee files an objection to any Unsecured Claim, with funds deemed by the Trustee to be sufficient to pay at least the full amount of all disputed Unsecured Claim(s), or the estimated amount of such disputed Unsecured Claim(s) as determined by order of the Bankruptcy Court and the estimated costs and expenses (including anticipated professional fees and expenses) of prosecuting objections with respect to those disputed Unsecured Claims.

Unsecured Claims Reserve means the reserve of Reserved Shares, Reserved Warrants and cash, if any, established pursuant to Section VI.D.1 for Claims in Class 6, which reserve

Unsecured Claims Reserve means the reserve of Reserved Shares and Reserved Cash, if any, established pursuant to Section VI.D for Claims in Class 6, which reserve will be maintained in trust for holders of Allowed Claims in Class 6 and will not constitute property of any of the Reorganized Debtors while held in the Unsecured Claims Reserve.

Unsecured Claims Reserve means that reserve account established under Section 7.6(a)(i) of this Plan for the payment of distributions to Classes 4, 5, and 6.