Admitted Claim definition

Admitted Claim means a Claim of an SoP Creditor that is included on the final list of Claims filed timely in accordance with Section 255(1)(1o) and 265 DBA and which has been acknowledged (erkend) by the SoP Administrator Administrators (and which has not been retracted by the SoP Administrator Administrators at the Voting Hearing), as evidenced by the official court record of the Voting Hearing as referred to in Section 269 DBA.

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Admitted Claim has the meaning set forth in Section 9.1(b).

Admitted Claim means any ordinary unsecured Claim against the Company (whether in respect of unpaid principal, interest or otherwise) which is not an Expense Claim, which is or has been admitted by the Joint Administrators in accordance with the Insolvency Rules (including, for the avoidance of doubt, where the creditor has successfully appealed under Rule 14.8 against the rejection of its Claim);

Examples of Admitted Claim in a sentence

• To the extent a Party admits (or is taken to have admitted) liability for the whole or part of a Claim Amount pursuant to clause 11.2(c) or clause 11.2(e) (Admitted Claim Amount), then that Party must pay the Claimant Party the Admitted Claim Amount within 14 days of the end of the Consideration Period.

• An Affected TA Signatory who has an Asset Claim to securities held by a Net Equity Intermediary, such as LBI, may elect to collateralise its Net Financial Liability initially with its Affected Intermediary Admitted Claim Amount before any Distribution or Appropriation has been made with respect to such Asset Claim; and subsequently with its Affected Intermediary Claim Amount.

• The “Affected Intermediary Admitted Claim Amount” is determined by the Company to be the lesser of: (i) the Affected TA Signatory’s relevant Net Equity Amount; and (ii) its total Individual Claim Amounts in respect of the relevant Affected Stock Lines.

• If the total value of all such Asset Allocation is less than the Affected Intermediary Admitted Claim Amount, then such deficit (the “Shortfall For Appropriation”) will be Appropriated by the Company to reduce further any remaining Collateralised Net Financial Liability.

• This amount is referred to as the “Affected Intermediary Admitted Claim Amount”.

More Definitions of Admitted Claim

Admitted Claim has the meanings set forth in Sections 11.1(b), 11.2(b), and 11.3(b).

Admitted Claim means a Claim that is admitted by the Deed Administrators in accordance with this Deed. For the avoidance of doubt, any Claim by a Creditor who is a Non-Participating Creditor will not be an Admitted Claim.

Admitted Claim has the meaning given in clause 10.11(a);

Admitted Claim means an unsecured claim (other than a Preferential

Admitted Claim means a claim under Warranties and/or the Tax Deed of Covenant which has been agreed by the Vendors and the Purchaser or which is the subject of a judgment of the court;

Admitted Claim means any ordinary unsecured Claim against the Company (whether in respect of unpaid principal, interest or otherwise) which is not an Expense Claim, which is or has been admitted by the Joint Administrators in accordance with Rule 14.7 of the Insolvency Rules or has been admitted in accordance with Rule 2.77 of the Insolvency Rules.

Admitted Claim is defined in Section 7.5.