Allowed Secured Claims definition

Allowed Secured Claims has the meaning set forth in the Plan.
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Allowed Secured Claims means the total allowed secured Claims against the Debtors in Class 2 or Class 3 under the Plan to be paid pursuant to the Plan as set forth on the Allowed Secured Claims Schedule, which shall consist only of (i) principal and interest outstanding under the Secured Credit Agreement not to exceed $434,000,000, (ii) secured hedge and swap obligations not to exceed $3,100,000, (iii) secured property tax claims not to exceed $4,400,000, (iv) secured mechanic's liens not to exceed $250,000 and (v) secured professional fees relating to the Secured Credit Agreement.
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Allowed Secured Claims means the Allowed Claims which are secured by Estate Property, but only to the extent of the value of Estate Property.
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Examples of Allowed Secured Claims in a sentence

  • 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.

  • The Liquidating Trustee shall transfer any net Cash proceeds from the Preserved Estate Claims to the Liquidating Trust Reserve until such time as (a) all Allowed Administrative Claims, Allowed Priority Tax Claims, Allowed Priority Non-Tax Claims, and Allowed Secured Claims have been paid in full or otherwise resolved or the Disputed Claims Reserves relating to such Claims have been fully funded, and (b) the Administrative Claims Bar Date and any other applicable Claims Bar Date has expired.

  • The Lender may, but need not, elect to convert the entirety of the Loan and Obligations hereunder into equity of the restructured Debtor in any restructuring at the rate of conversion applicable to that received by other holders of Allowed Secured Claims or, if none exist, at a rate equal to three times the rate of conversion applicable to holders of Allowed Unsecured Claims.

  • The Liquidating Trust Reserve shall be held separately from the other Liquidating Trust Assets and shall be used to (a) fund the Wind- Down Manager Reserve, (b) satisfy all Allowed Administrative Claims, Allowed Priority Tax Claims, Allowed Priority Non-Tax Claims, and Allowed Secured Claims not paid by the Debtors on or prior to the Effective Date, (c) fund Disputed Claims Reserves relating to such Claims, (d) fund the Liquidating Trust Expenses, and (e) fund the Prepetition Junior Loan Agent Fee Reserve.

  • 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.

  • The Plan Trust shall allocate[ as of the Effective Date] the Class 3.1 Beneficial Interest to XX Xxxxxx, as Administrative Agent for JPMorgan and JefferiesInterests shall be allocated to the Beneficial Agent as agent for the holders of the Class 3.1 Allowed Secured Claims under the Plan and such allocation shall be deemed effective[ as of the Effective Date].

  • The Plan Trustee or the Registrar shall make a notation in the Plan Trust Register that reflects the Class 3.1 Beneficial Interest held by XX Xxxxxx, as Administrative Agent for JPMorgan and Jefferiesthe Beneficial Agent as agent for the holders of Class 3.1 Allowed Secured Claims under the Plan.


More Definitions of Allowed Secured Claims

Allowed Secured Claims means any Lien on a Vessel superior in rank to the GE Capital Security Interests, as determined by the Bankruptcy Court in a final non-appealable order.
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Allowed Secured Claims means an Allowed Claim which is secured by a valid, duly perfected voluntary lien on (whether voluntary or involuntary), or a security interest in, property in which the Debtor have an interest (including property of the estate), or which is subject to setoff under Bankruptcy Code §553, to the extent of the lesser of: (i) the value of such property securing the Allowed Secured Claim; or (ii) the amount of such Allowed Claim which is secured, as the case may be, including any election made pursuant to §1111 of the Bankruptcy Code.
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Allowed Secured Claims means an Allowed Claim secured by a valid and enforceable lien, security interest or other charge against property in which the Debtor has an interest, or which is subject to setoff under Sec. 553 of the Bankruptcy Code, but only to the extent of the value (determined in accordance with Sec. 506(a) of the Bankruptcy Code or in accordance with the provisions of the Plan) of the interest of the holder of such property or to the extent of the amount subject to any setoff or as otherwise set forth in the Plan, as the case may be.
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Related to Allowed Secured Claims

  • Allowed Secured Claim means an Allowed Claim secured by a lien, security interest or other charge against property in which the Estate has an interest, or which is subject to setoff under Section 553 of the Bankruptcy Code, to the extent of the value, determined in accordance with Section 506(a) of the Bankruptcy Code, of the interest of the holder of such Allowed Secured Claim in the Estate's interest in such property, or to the extent of the amount subject to any setoff, as the case may be.

  • 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;

  • Secured Claim means a Claim that is secured by a Lien on property in which any of the Debtors’ Estates have an interest or that is subject to setoff under section 553 of the Bankruptcy Code, to the extent of the value of the Claim holder’s interest in such Estate’s interest in such property or to the extent of the amount subject to setoff, as applicable, as determined pursuant to section 506(a) of the Bankruptcy Code or, in the case of setoff, pursuant to section 553 of the Bankruptcy Code.

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

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

  • Unsecured Claims means claims which are not secured by any property of the Debtor’s Estate and which are not part of any other class defined in this Plan.

  • Unsecured Claim means any Claim that is not a Secured Claim.

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

  • Disallowed Claim means (a) a Claim, or any portion thereof, that has been disallowed by a Final Order or a settlement, (b) a Claim or any portion thereof that is Scheduled at zero or as contingent, disputed, or unliquidated and as to which a proof of claim bar date has been established but no proof of claim has been timely filed or deemed timely filed with the Bankruptcy Court pursuant to either the Bankruptcy Code or any Final Order of the Bankruptcy Court or otherwise deemed timely filed under applicable law, or (c) a Claim or any portion thereof that is not Scheduled and as to which a proof of claim bar date has been established but no proof of claim has been timely filed or deemed timely filed with the Bankruptcy Court pursuant to either the Bankruptcy Code or any Final Order of the Bankruptcy Court or otherwise deemed timely filed under applicable law.

  • Released Class Claims means the claims being released as described in Paragraph 6.2 below.

  • Priority Claims means, collectively, Priority Tax Claims and Other Priority Claims.

  • Subordinated Claims means the aggregate amount of all claims admitted in the winding up or dissolution of the Issuer which rank, or are expressed to rank, junior to claims in respect of the Senior Non-Preferred Notes or other Senior Non-Preferred Claims, including (without limitation) (i) claims of creditors in respect of the Subordinated Notes and (ii) the obligations of the Issuer which constitute, or would but for any applicable limitation on the amount of such capital constitute, Tier 2 Capital, Additional Tier 1 Capital or CET1 Capital, including, for the avoidance of doubt, all claims in respect of Deferred Shares.

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

  • 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.

  • Noteholder Claims means all Obligations in respect of the Notes or arising under the Noteholder Documents or any of them, including all fees and expenses of the Trustee thereunder.

  • 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.

  • 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.

  • Allowed Interest means an Interest in any Debtor, which has been or hereafter is listed by such Debtor in its books and records as liquidated in an amount and not disputed or contingent; provided, however, that to the extent an Interest is a Disputed Interest, the determination of whether such Interest shall be allowed and/or the amount of any such Interest shall be determined, resolved, or adjudicated, as the case may be, in the manner in which such Interest would have been determined, resolved, or adjudicated if the Chapter 11 Cases had not been commenced; and provided further, however, that proofs of Interest need not and should not be filed in the Bankruptcy Court with respect to any Interests; and provided further, however, that the Reorganized Debtors, in their discretion, may bring an objection or motion with respect to a Disputed Interest before the Bankruptcy Court for resolution.

  • 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.

  • General Unsecured Claims means Claims against any Debtor that are not Secured Claims, Administrative Claims, Priority Claims, Professional Compensation Claims, Intercompany Claims, or Equity Interests.

  • Tax Claims means any Claim against the Participating CCAA Parties (or any one of them) for any Taxes in respect of any taxation year or period ending on or prior to the applicable Filing Date, and in any case where a taxation year or period commences on or prior to the applicable Filing Date, for any Taxes in respect of or attributable to the portion of the taxation period commencing prior to the applicable Filing Date and up to and including the applicable Filing Date. For greater certainty, a Tax Claim shall include, without limitation, (a) any and all Claims of any Taxing Authority in respect of transfer pricing adjustments and any Canadian or non- resident Tax related thereto, and (b) any Claims against any BL/Wabush Released Party in respect of such Taxes;

  • 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.

  • DIP Facility Claims means all Claims held by the DIP Facility Agent and the DIP Facility Lenders pursuant to the DIP Facility Agreements and the Final DIP Order.

  • 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.

  • Administrative Claims means Claims that have been filed timely and properly before theAdministrative Claims Bar Date set forth in the Confirmation Order (except as otherwise provided by a separate order of the Bankruptcy Court), for costs and expenses of administration under sections 503(b), 507(b), or 1114(e)(2) of the Bankruptcy Code, including, without limitation: the actual and necessary costs and expenses incurred after the Petition Date of preserving the Estates and operating the businesses of the Debtors (such as wages, salaries or commissions for services and payments for goods and other services and leased premises). Any fees or charges assessed against the Estates under section 1930 of chapter 123 of title 28 of the United States Code are excluded from the definition of Administrative Claims and shall be paid in accordance with Article V.N of the Plan. Notwithstanding anything to the contrary in this Plan, the filing of an Administrative Claim shall not be required in order to receive payment for any tax liability described in sections 503(b)(1)(B) and (C) in accordance with section 503(b)(1)(D) of the Bankruptcy Code.

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