ASE 12.5.x and later versions do not use buildmaster. Use the following steps to rebuild model:
Shut down Adaptive Server.
Run the following command:
% dataserver -d master_device_path_name -w model
This is a unix example. On Windows platforms, you use the sqlsrvr program; refer to your Utility Guide for details.
Restart Adaptive Server.
Reload any user-specific structures or data in model, such as data types, tables, stored procedures, users and permissions.