Common use of Allocation of Plan Distributions Between Principal and Interest Clause in Contracts

Allocation of Plan Distributions Between Principal and Interest. To the extent that any Allowed Claim entitled to a distribution under this Plan is comprised of indebtedness and accrued but unpaid interest thereon, such distribution shall, to the extent permitted by applicable law, be allocated for U.S. federal income tax purposes to the principal amount of the Claim first and then, to the extent that the consideration exceeds the principal amount of the Claim, to the portion of such Claim representing accrued but unpaid interest.

Appears in 2 contracts

Samples: Restructuring Support Agreement (Superior Energy Services Inc), Restructuring Support Agreement (Superior Energy Services Inc)

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Allocation of Plan Distributions Between Principal and Interest. To the extent that any Allowed Claim entitled to a distribution under this the Plan is comprised consists of indebtedness and other amounts (such as accrued but unpaid interest thereon), such distribution shall, to the extent permitted by applicable law, shall be allocated for U.S. federal income tax purposes first to the principal amount of the Claim first (as determined for federal income tax purposes) and then, to the extent that the consideration exceeds the principal amount of the Claim, to the portion of such Claim representing accrued but unpaid interestother amounts.

Appears in 2 contracts

Samples: Restructuring Support Agreement (Novelion Therapeutics Inc.), Stock Purchase and Backstop Agreement (Deutsche Bank Ag\)

Allocation of Plan Distributions Between Principal and Interest. To the extent that any Allowed Claim entitled to a distribution under this Plan is comprised of indebtedness and accrued but unpaid interest thereon, such distribution shall, to the extent permitted by applicable lawlaw (as reasonably determined by the Reorganized Debtors), be allocated for U.S. federal income tax purposes to the principal amount of the Claim first and then, to the extent that the consideration exceeds the principal amount of the Claim, to the portion of such Claim representing accrued but unpaid interest.

Appears in 1 contract

Samples: Restructuring Support Agreement (Audacy, Inc.)

Allocation of Plan Distributions Between Principal and Interest. To the extent that any Allowed Claim entitled to a distribution under this Plan is comprised of indebtedness and accrued but unpaid interest thereon, such distribution shall, to the extent permitted by applicable lawlaw (as reasonably determined by the Reorganized Debtors), be allocated for U.S. federal income tax purposes to the principal amount of the Claim first and then, to the extent that the consideration exceeds the principal amount of the Claim, to the portion of such Claim representing accrued but unpaid interest.

Appears in 1 contract

Samples: Restructuring Support Agreement (2U, Inc.)

Allocation of Plan Distributions Between Principal and Interest. To the extent that any Allowed Claim or Interest entitled to a distribution under this the Plan is comprised composed of indebtedness and accrued but unpaid interest thereon, such distribution shall, to the extent permitted by applicable law, be allocated for U.S. United States federal income tax purposes to the principal amount of the Claim first and then, to the extent that the consideration exceeds the principal amount of the Claim, to the portion of such the Claim representing accrued but unpaid interest.

Appears in 1 contract

Samples: Plan Support Agreement (Anchorage Capital Group, L.L.C.)

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Allocation of Plan Distributions Between Principal and Interest. To Except as otherwise expressly provided in this Plan, to the extent that any Allowed Claim entitled to a distribution under this Plan is comprised of indebtedness and accrued but unpaid interest thereon, such distribution shall, to the extent permitted by applicable lawfor all income tax purposes, be allocated for U.S. federal income tax purposes to the principal amount of the Claim first and then, to the extent that the consideration exceeds the principal amount of the Claim, to the portion of such Claim representing accrued but unpaid interest.

Appears in 1 contract

Samples: Restructuring & Lockup Agreement (Pliant Corp)

Allocation of Plan Distributions Between Principal and Interest. To the extent that any Allowed Claim entitled to a distribution under this Plan is comprised of indebtedness and accrued but unpaid interest thereon, such distribution shall, to the extent permitted by applicable law, be allocated for U.S. federal income tax purposes to the principal amount of the Claim first and then, to the extent that the consideration exceeds the principal amount of the Claim, to the portion of such Claim representing accrued but unpaid interest.

Appears in 1 contract

Samples: Restructuring Support Agreement (Sundance Energy Inc.)

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