Avoidance Issues definition

Avoidance Issues. If any First Lien Party is required to disgorge or otherwise pay any amount to the estate of any Obligor for any reason (a “Recovery”), then the First Lien Obligations shall be reinstated to the extent of such Recovery and the Discharge of the First Lien Obligations shall be deemed not to have occurred.
Sample 1
Avoidance Issues. If any Secured Party is required to disgorge or otherwise pay any amount to the bankruptcy estate of any Loan Party for any reason (a “Recovery”), then the obligations of such Secured Party shall be reinstated to the extent of such Recovery.
Sample 1
Avoidance Issues. With respect to each Type of Common Collateral, if any First Priority Secured Party or Second Priority Secured Party is required in any Insolvency Proceeding or otherwise to disgorge, turn over or otherwise pay to the estate of any Loan Party, because such amount was avoided or ordered to be paid or disgorged for any reason, including because it was found to be a fraudulent or preferential transfer, any amount (a “Recovery”), whether received as proceeds of security, enforcement of any right of set-off or otherwise, then the First Priority Obligations or Second Priority Obligations, as the case may be, shall be reinstated to the extent of such Recovery and deemed to be outstanding as if such payment had not occurred, and the First Priority Obligations Payment Date or the Second Priority Obligations Payment Date, as the case may be, shall be deemed not to have occurred. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto.
Sample 1

Examples of Avoidance Issues in a sentence

  • Subject to Section 6.4 (Avoidance Issues), this Agreement shall continue to be effective until the Discharge of First Lien Obligations shall have occurred or such later time as the Discharge of Second Lien Obligations shall have occurred.

  • USFS Aerial Application Avoidance Issues: 381 Avoidance maps will be prepared and made available for all National Forest System 382 lands and reviewed preseason and during any fire incident with the assigned Incident 383 Commander (IC) or IMT.

  • Insolvency Proceedings 26 5.1 Filing of Motions 26 5.2 Financing Matters 27 5.3 Relief From the Automatic Stay 28 5.4 Adequate Protection 29 5.5 Avoidance Issues 30 5.6 Asset Dispositions in an Insolvency Proceeding 31 5.7 Separate Grants of Security and Separate Classification 32 5.8 Plans of Reorganization 32 5.9 Other Matters 33 5.10 No Waiver of Rights of First Priority Secured Parties 33 5.11 Effectiveness in Insolvency Proceedings 33 SECTION 6.

  • INSOLVENCY OR LIQUIDATION PROCEEDINGS 25 6.1 Financing Issues 25 6.2 Relief from the Automatic Stay 26 6.3 Adequate Protection 27 6.4 Avoidance Issues 28 6.5 Application 28 6.6 Waivers 28 6.7 Post-Petition Interest 28 6.8 Separate Grants of Security and Separate Classification 29 6.9 Reorganization Securities 29 6.10 Voting 29 SECTION 7.

  • Insolvency or Liquidation Proceedings 41 6.1. DIP Financing 41 6.2. Relief from the Automatic Stay 42 6.3. Adequate Protection 42 6.4. Post-Petition Interest 44 6.5. Avoidance Issues 45 6.6. Application 45 6.7. Waivers 46 6.8. Separate Grants of Liens 46 6.9. Asset Sales 47 Section 7.

  • Avoidance Issues: If any First Lien Secured Party is required to disgorge or otherwise pay any amount to the estate of any Loan Party for any reason (a “Recovery”), then the First Lien Obligations shall be reinstated to the extent of such Recovery and the Discharge of First Lien Obligations shall be deemed not to have occurred.

  • Insolvency or Liquidation Proceedings 33 6.1 Finance and Sale Issues 33 6.2 Relief from the Automatic Stay 34 6.3 Adequate Protection 34 6.4 No Waiver 36 6.5 Avoidance Issues 36 6.6 Reorganization Securities 36 6.7 Post-Petition Interest 37 6.8 Waiver 37 6.9 Separate Grants of Security and Separate Classification 37 6.10 Effectiveness in Insolvency or Liquidation Proceedings 38 SECTION 7.

  • Subject to Section 5.7 (Reinstatement) and Section 6.4 (Avoidance Issues), this Agreement shall continue to be effective until the Discharge of First Lien Obligations shall have occurred or such later time as the Discharge of Junior Lien Obligations shall have occurred.

  • Insolvency or Liquidation Proceedings 39 6.1 DIP Financing 39 6.2 Relief from the Automatic Stay 39 Page 6.3 Adequate Protection 40 6.4 Post-Petition Interest 42 6.5 Avoidance Issues 42 6.6 Application 43 6.7 Waivers 43 6.8 Separate Grants of Liens 43 6.9 Asset Sales 44 Section 7.

  • Insolvency or Liquidation Proceedings J-2-32 6.1 Finance and Sale Issues J-2-32 6.2 Relief from the Automatic Stay J-2-34 6.3 Adequate Protection J-2-34 6.4 No Waiver J-2-36 6.5 Avoidance Issues J-2-36 6.6 Reorganization Securities J-2-36 6.7 Post-Petition Interest J-2-36 6.8 Waiver J-2-37 6.9 Separate Grants of Security and Separate Classification J-2-37 6.10 Effectiveness in Insolvency or Liquidation Proceedings J-2-38 SECTION 7.


More Definitions of Avoidance Issues

Avoidance Issues. If any First Lien Claimholder is required in any insolvency, bankruptcy or liquidation proceeding to disgorge or otherwise to turn over or otherwise pay any amount to the estate of any Loan Party for any reason (a “Recovery”), then the First Lien Obligations shall be reinstated to the extent of such Recovery and the First Lien Claimholders shall be entitled to a reinstatement of First Lien Obligations with respect to all such recovered amounts. Any amounts received by the Second Lien Agent or any other Second Lien Claimholder on account of the Second Lien Obligations after the termination of the Term Collateral Intercreditor Agreement shall, in the event of such reinstatement, be held in trust for and paid over to the First Lien Collateral Agent for the benefit of the First Lien Claimholders, for application to the reinstated First Lien Obligations.
Sample 1

Related to Avoidance Issues

  • Avoidance Actions means any and all avoidance, recovery, subordination, or other claims, actions, or remedies that may be brought by or on behalf of the Debtors or their Estates or other authorized parties in interest under the Bankruptcy Code or applicable non-bankruptcy law, including actions or remedies under sections 502, 510, 542, 544, 545, 547 through 553, and 724(a) of the Bankruptcy Code or under similar or related state or federal statutes and common law, including fraudulent transfer laws.

  • RD 1012/2015 means Royal Decree 1012/2015, of 6 November developing Law 11/2015, as amended or superseded from time to time.

  • Avoidance Action means any claim or cause of action of an Estate arising out of or maintainable pursuant to sections 502, 510, 541, 542, 543, 544, 545, 547, 548, 549, 550, 551, or 553 of the Bankruptcy Code or under any other similar applicable law, regardless of whether or not such action has been commenced prior to the Effective Date.

  • Issuance Items has the meaning set forth in Section 3.3(h) hereof.

  • COVID-19 Pandemic means the epidemic, pandemic or disease outbreak associated with COVID-19.

  • Excluded Claims means (a) any claim arising from Customer’s breach of Section 1.4 (Use Restrictions), 2.3 (Rights in Customer Data); (b) any amounts payable to third parties pursuant to Customer’s indemnification obligations under Section 2.4 (Indemnification by Customer) or AvePoint’s indemnification obligations under Section 8 (Indemnification); (c) Customer’s breach of Section 3 (Ownership); or (d) unlawful or willful misconduct or gross negligence.

  • Tax Exempt Bond-Financed Development means a Development which has been financed by the issuance of tax-exempt bonds subject to applicable volume cap pursuant to Section 42(h)(4) of the IRC.

  • Performing Cash Pay High Yield Securities means High Yield Securities (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semiannual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • DPA 2018 means the Data Protection Act 2018;

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Income Tax Return means any Tax Return relating to Income Taxes.

  • Plantwide applicability limitation (PAL means an emission limitation expressed in tons per year, for a pollutant at a major stationary source, that is enforceable as a practical matter and established source-wide in accordance with Chapter 19, section 011.

  • Excluded Costs means all of the following costs and expenses incurred in connection with the provision of the Management Services hereunder:

  • Additional Form 10-D Disclosure As defined in Section 11.07.

  • Bondable stranded costs means any stranded costs or basic

  • Non-Income Tax Return means any Tax Return relating to Taxes other than Income Taxes.

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Organ procurement organization means a person designated by the Secretary of the United States Department of Health and Human Services as an organ procurement organization.

  • Mis-procurement means public procurement in contravention of any provision of Sindh Public Procurement Act, 2010, any rule, regulation, order or instruction made thereunder or any other law in respect thereof, or relating to, public procurement;

  • Assigned Annual Special Tax means the Special Tax of that name described in Section D.

  • Performing Cash Pay Mezzanine Investments means Mezzanine Investments (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semi-annual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • Closing Date Working Capital has the meaning specified in Section 2.3(b).

  • Form 10-D Disclosure Item means, with respect to any Person, (a) any legal proceedings pending against such Person or of which any property of such Person is then subject, or (b) any proceedings known to be contemplated by governmental authorities against such Person or of which any property of such Person would be subject, in each case that would be material to the Noteholders.

  • Law 11/2015 means Law 11/2015 of 18 June, on recovery and resolution of credit institutions and investment firms (Ley 11/2015, de 18 de junio, de recuperación y resolución de entidades de crédito y empresas de servicios de inversión) as amended or replaced from time to time.

  • Settling Defendants means Johnson & Johnson, AmerisourceBergen, Cardinal Health, and McKesson, as well as their subsidiaries, affiliates, officers, and directors named in a National Settlement Agreement.

  • Avoided costs means the incremental costs to an electric utility of electric energy or capacity or both which, but for the purchase from the qualifying facility or qualifying facilities, such utility would generate itself or purchase from another source.