Aircraft Secured Claim definition

Aircraft Secured Claim means a Secured Claim secured by a valid, perfected, and enforceable Lien on any of the Debtors’ Aircraft Equipment.
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Aircraft Secured Claim means a Claim that is secured by a security interest in or a lien on any of the Aircraft Equipment set forth on Exhibit K hereto (to the extent the Debtors have not abandoned, or rejected leases with respect to, such Aircraft Equipment on or prior to the Effective Date) in which a Debtor’s Estate has an interest or that is subject to setoff under section 553 of the Bankruptcy Code, to the extent of the value, as of the Effective Date or such other date as is established by the Bankruptcy Court, of such Claimholder’s interest in the applicable Estate’s interest in such Aircraft Equipment or to the extent of the amount subject to setoff, as applicable, as determined by a
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Aircraft Secured Claim means a Claim that is secured by a valid, duly perfected, non-avoidable security interest in the interest of a Debtor in Aircraft Equipment, to the extent of the value, as of the Effective Date or such other date as is established by the Bankruptcy Court, of such Claimholder’s interest in the applicable Debtor’s interest in such Aircraft Equipment, as determined by a Final Order of the Bankruptcy Court pursuant to section 506(a) of the Bankruptcy Code or as otherwise agreed upon in writing by the Debtors and the Claimholder.
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Examples of Aircraft Secured Claim in a sentence

  • A holder of an Aircraft Secured Claim (including Restructured Aircraft Secured Claims) or Other Secured Claim may recognize income, gain or loss for U.S. federal income tax purposes with respect to the settlement of such Claim, depending on whether the Claim is reinstated or, if not reinstated, on the outcome of negotiations with the Debtors.

  • A holder who receives Cash or other property in exchange for its Aircraft Secured Claim or Other Secured Claim pursuant to the Plan will generally recognize income, gain or loss for U.S. federal income tax purposes in an amount equal to the difference between (i) the amount of Cash or fair market value of the other property received in exchange for such holder’s Claim, and (ii) the holder’s adjusted tax basis in its Claim.

  • A holder whose Aircraft Secured Claim or Other Secured Claim is reinstated pursuant to the Plan will not realize income, gain or loss unless either (i) such holder is treated as having received interest, damages or other income in connection with the reinstatement, or (ii) such reinstatement is considered a “significant modification” of the Claim.

  • Notwithstanding anything to the contrary contained in this Order, the Plan or in any Plan Supplement, on the Effective Date the CRJ Equipment Trust Aircraft Secured Claim shall be Allowed in full and all obligations under the CRJ Equipment Trust Loan Documents (including any unpaid principal and interest under the CRJ Equipment Trust Loan Documents) shall be reinstated pursuant to section 1124 of the Bankruptcy Code and shall be binding on the Reorganized Debtors.

  • Treatment: On the Effective Date, each Allowed Reinstated Aircraft Secured Claim set forth in Schedule 4.3 to the Plan shall be Reinstated and rendered unimpaired in accordance with section 1124(2) of the Bankruptcy Code, notwithstanding any contractual provision or applicable non-bankruptcy law that entitles the holder of such Allowed Reinstated Aircraft Secured Claim to demand or receive payment of such Allowed Reinstated Aircraft Secured Claim from and after the occurrence of a default.


More Definitions of Aircraft Secured Claim

Aircraft Secured Claim means a Claim, other than a GEAE Claim, GECC Claim or an Airbus Claim, that is secured by a security interest in or a lien on, or that is for amounts due under a conditional sale contract of, any of the Aircraft Equipment set forth on Exhibit B to this Plan, in which a Debtor’s Estate has an interest, but does not include any Claim to the extent that, on or prior to the Effective Date, the Debtors have abandoned, returned to the Claimholder that holds a lien on or security interest in such Aircraft Equipment. Nothing in this Section 1.8 shall prejudice the Debtors’ right to seek a determination as to the extent of a Claimholder’s secured status in accordance with section 506(a) of the Bankruptcy Code.
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Related to Aircraft Secured Claim

  • Secured Claim means a Claim: (a) secured by a valid, perfected, and enforceable Lien on collateral to the extent of the value of such collateral, as determined in accordance with section 506(a) of the Bankruptcy Code or (b) subject to a valid right of setoff pursuant to section 553 of the Bankruptcy Code.

  • Allowed Secured Claim means all or that portion of a Secured Claim which is an Allowed Claim.

  • Other Secured Claim means any Secured Claim other than an Administrative Claim, Secured Tax Claim, DIP Facility Claim, or Prepetition Credit Agreement Claim.

  • Secured Claims means Claims held by “secured creditors” as defined in the CCAA, including Construction Lien Claims, to the extent of the Allocated Value of the Property securing such Claim, with the balance of the Claim being a Deficiency Claim, and amounts subject to section 6(6) of the CCAA;

  • Other Priority Claim means any Claim other than an Administrative Claim or a Priority Tax Claim entitled to priority in right of payment under section 507(a) of the Bankruptcy Code.

  • Priority Claim means a Claim that is entitled to priority in payment pursuant to section 507(a) of the Bankruptcy Code that is not an Administrative Claim or a Priority Tax Claim.

  • Unsecured Claim means a Claim that is not an Administrative Claim, a Priority Tax Claim, a Priority Claim, or a Secured Claim.

  • DIP Facility Claim means a Claim arising under or as a result of the DIP Facility.

  • DIP Claim means a Claim of the DIP Agent or DIP Lenders arising under the DIP Credit Agreement or any of the DIP Orders, including Claims for payment of DIP Expenses.

  • Approved Claim means a Claim Form submitted by a Settlement Class Member that: (a) is submitted timely and in accordance with the directions on the Claim Form and the provisions of the Settlement Agreement; (b) is fully and truthfully completed by a Settlement Class Member with all of the information requested in the Claim Form; (c) is signed by the Settlement Class Member, physically or electronically; and (d) is approved by the Settlement Administrator pursuant to the provisions of this Agreement.

  • Subordinated Claim means a Claim of the kind described in sections 726(a)(3) or 726(a)(4) of the Bankruptcy Code and/or Claims subordinated under sections 510(b) or 510(c) of the Bankruptcy Code.

  • Allowed Claim means an Allowed Claim of the type described.

  • Other Secured Claims means any Secured Claim against the Debtors that is not an Administrative

  • Allowed Unsecured Claim means all or that portion of an Unsecured Claim which is an Allowed Claim.

  • Tax Claim has the meaning set forth in Section 6.05.

  • General Unsecured Claim means any Claim that is not a/an: Administrative Claim; DIP Facility Claim; Professional Fee Claim; Priority Tax Claim; Secured Tax Claim; Other Priority Claim; Other Secured Claim; Intercompany Claim; Prepetition Debt Claim; or 510(b) Equity Claim.

  • Preferred claim means a claim with respect to which the terms of this chapter accord priority of payment from the general assets of the insurer.

  • 503(b)(9) Claim means a Claim or any portion thereof entitled to administrative expense priority pursuant to section 503(b)(9) of the Bankruptcy Code.

  • Senior Notes Claim means a Claim arising under or as a result of the Senior Notes.

  • Covered Claim means either a Provider Covered Claim or Customer Covered Claim.

  • Other Priority Claims means any Claim, other than an Administrative Claim or a Priority Tax Claim, entitled to priority in right of payment under section 507(a) of the Bankruptcy Code.

  • Intercompany Claim means any Claim held by a Debtor against another Debtor.

  • Secured Tax Claim means any Secured Claim that, absent its secured status, would be entitled to priority in right of payment under section 507(a)(8) of the Bankruptcy Code (determined irrespective of time limitations), including any related Secured Claim for penalties.

  • Administrative Claim means a Claim for costs and expenses of administration of the Chapter 11 Cases pursuant to sections 503(b), 507(a)(2), 507(b), or 1114(e)(2) of the Bankruptcy Code, including: (a) the actual and necessary costs and expenses incurred on or after the Petition Date until and including the Effective Date of preserving the Estates and operating the Debtors’ businesses; (b) Allowed Professional Fee Claims; and (c) all payments afforded administrative expense treatment under the Backstop Agreement.

  • Allowed Administrative Claim means an Administrative Claim that is an Allowed Claim.

  • Insured Claim means any Claim arising from an incident or occurrence alleged to have occurred prior to the Effective Date that is covered under an insurance policy applicable to the Debtors or their businesses.