Allowed Secured Claims definition
Examples of Allowed Secured Claims in a sentence
Pursuant to section 510(b) of the Bankruptcy Code, a Holder of an Allowed Shareholders’ Securities Claim and/or an Allowed Equity Interest shall not receive any Distribution under the Plan unless and until all Allowed Administrative Claims, Allowed Priority Tax Claims, Allowed Other Priority Claims, Allowed Secured Claims, Allowed General Unsecured Claims and Allowed Noteholders’ Securities Claims have been satisfied in full.
All Allowed Secured Claims will be reinstated and otherwise not impaired and all liens shall be continued until the Claims are paid in full.
Except as otherwise provided by the Plan or this Trust Agreement, upon the Effective Date of the Plan, title to the Assets shall pass to the Liquidating Trust free and clear of all Claims and Interests, in accordance with Section 1141 of the Bankruptcy Code, except for Liens on the Assets held by Holders of Allowed Secured Claims (including Claims which become Allowed Claims after the Effective Date).
On the Effective Date, or as soon as practicable thereafter, to the extent any Secured Claims (as defined below) exist, all Allowed Secured Claims shall be satisfied by either (a) payment in full in cash, (b) reinstatement pursuant to section 1124 of the Bankruptcy Code, or (c) such other recovery necessary to satisfy section 1129 of the Bankruptcy Code.
Pursuant to the Plan, on or before the Effective Date, the holder of an Allowed Secured Claim in Class 4 may receive, on account of such Allowed Secured Claim, Cash equal to its Allowed Secured Claims, or such lesser amount to which the holder of such Claim shall agree, in full satisfaction and release of such Claim.
Class 6 consists of all General Unsecured Claims against any Debtor (including, for the avoidance of doubt, any Revolving Credit Facility Claims and Secured Swap Claims against any Debtor, in each case, that are not Allowed Secured Claims).
Such written notice shall specify an effective date for the designation of the successor Beneficial Agent and on and after that date, the successor Beneficial Agent shall hold the Beneficial Interest as agent for the holders of the Class 3.1 Allowed Secured Claims under the Plan and the Plan Trustee shall be entitled to rely upon such notice and treat the successor Beneficial Agent as the Beneficial Agent for all purposes under this Plan Trust Agreement.
Class 9 --- All Allowed General Unsecured Claims of ERLY: Class 9 is -------------------------------------------------------- comprised of holders of any unpaid Allowed General Unsecured Claims of Creditors of ERLY including any unsecured deficiency Claims of holders of Allowed Secured Claims in Classes 6 and 8.
Class 3H consists of all Allowed Secured Claims other than Allowed GECC Secured Claims.
Depending upon the option selected by the Debtors pursuant to Section 5.4.3 below, the holders of Allowed Secured Claims in Class 4 may be impaired pursuant to the Plan.