Priority Non-Tax Claims. Except to the extent that a holder (i) has been paid by the Debtors, in whole or in part, prior to the Effective Date, or (ii) agrees to a less favorable treatment, each holder of an allowed priority non-tax claim shall receive, in full satisfaction of such claim, cash in the full amount of the claim (without interest), on or as soon as reasonably practicable after the later of (a) the Effective Date, or as soon thereafter as reasonably practicable, and (b) the date such claim becomes allowed.
Priority Non-Tax Claims. (Class 1). On the Consummation Date, each holder of an Allowed Priority Non-Tax Claim shall be distributed on account of such Allowed Priority Claim a payment in Cash equal to the amount of its Allowed Priority Non-Tax Claim.
Priority Non-Tax Claims. Class 1 shall consist of any Priority Non-Tax Claims.
Priority Non-Tax Claims. (Class 7).
Priority Non-Tax Claims. All holders of Allowed claims against the Company under section 507(a) of the Bankruptcy Code other than Administrative Expense Claims or Priority Tax Claims shall not be impaired by the Plan, with holders of such
Priority Non-Tax Claims. Unimpaired – Deemed to Accept: “Priority Non-Tax Claim” shall mean: any claim other than an Administrative Expense Claim or a Priority Tax Claim that is entitled to priority in payment as specified in section 507(a) of the Bankruptcy Code. On or as soon as reasonably practicable after the Effective Date, each holder of an allowed Priority Non-Tax Claim shall receive cash equal to the full allowed amount of its claim or otherwise be left unimpaired, or receive such lesser treatment as may otherwise be agreed to by such holder, the Debtors, in consultation with the Ad Hoc Group. EXECUTION VERSION
Priority Non-Tax Claims. Unimpaired; not entitled to vote. To the extent not otherwise paid in the ordinary course, the holders of allowed claims entitled to priority treatment pursuant to section 507 of the Bankruptcy Code, other than the Administrative Expense Claims and the Priority Tax Claims (the “Priority Non-Tax Claims”) shall, at the option of the Debtors be paid: (i) in cash in full on the later of (x) the Effective Date and (y) the date such claim becomes due and payable in the ordinary course of business; (ii) in cash on such other terms and conditions as may be agreed between the holder of each such claim, on the one hand, and the Debtors, on the other hand; or (iii) in deferred cash payments, to the extent permissible under the Bankruptcy Code.
Priority Non-Tax Claims. The Plan of Reorganization shall provide that all holders of allowed priority non-tax claims are satisfied in full in cash, unless a holder thereof (with the consent of the Requisite Investors) agrees otherwise.
Priority Non-Tax Claims. Allowed priority non-tax claims (the “Priority Non-Tax Claims”) shall be satisfied in full in cash, unless the holder of an Allowed Priority Non-Tax Claim and the Debtors (with the consent of the Consenting Lenders and the Administrative Agent) or, after the Effective Date, Reorganized OSG agrees otherwise. Recovery: 100%. (e) CEXIM Secured Credit Facility Claims – The vessels securing the CEXIM secured credit facility shall be retained by the Debtors and Allowed claims arising under the CEXIM secured credit facility (the “CEXIM Secured Credit Facility Claims”) shall be satisfied in full in cash. Recovery: 100%. (f)
Priority Non-Tax Claims. Unimpaired No
