Convenience Class Claim definition

Convenience Class Claim means any Unsecured Claim that is asserted against the Debtors in an amount that is less than $100, or any Unsecured Claim the holder of which has agreed to accept $100 or less in full satisfaction of such Claim.

Convenience Class Claim means an Unsecured Claim (i) Scheduled or Filed in an amount less than or equal to $2,000, (ii) Allowed in an amount less than or equal to $2,000 or (iii) as to which the Holder of such Unsecured Claim has elected (by marking the appropriate box on its Ballot) to reduce its Claim to $2,000 in order to have its Claim treated as a Convenience Class Claim.

Convenience Class Claim means (a) any Accepted Claim of a General Unsecured Creditor in an amount that is less than or equal to $15,000, and (b) any Accepted Claim of a General Unsecured Creditor in an amount greater than $15,000 if the relevant Creditor has made a valid Convenience Class Distribution Election for purposes of this Plan in accordance with the Creditors’ Meeting Order and this Plan;

Examples of Convenience Class Claim in a sentence

• Another distinctive construct of CT is provided by the notion of “artefact”, defined as any manmade object embedding technical (or social) change and achieving somenew functionality.

• Except to the extent that the holder of such Claim agrees to a different treatment, the Reorganized Debtors shall pay in Cash on the Effective Date to each holder of an Allowed Convenience Class Claim in Class C-5 the principal amount of such Allowed Claim, without interest.

• Except to the extent that the holder of such Claim agrees to a different treatment, the Reorganized Debtors shall pay in Cash on the Effective Date to each holder of an Allowed Convenience Class Claim in Class B-5 the principal amount of such Allowed Claim, without interest.

• Except to the extent that the holder of such Claim agrees to a different treatment, the Reorganized Debtors shall pay in Cash on the Effective Date to each holder of an Allowed Convenience Class Claim in Class A-5 the principal amount of such Allowed Claim, without interest.

• Affected Creditors (excluding Noteholders) with Proven Distribution Claims in excess of $5,000 that wish to elect to have their Proven Distribution Claims treated as Convenience Class Claims must deliver a duly completed and executed Convenience Class Claim Declaration to the Monitor prior to 5:00 p.m. (Toronto time) on July 15, 2010, in which case such Proven Distribution Claim shall be treated for all purposes as a Convenience Class Claim in the amount of $5,000.

More Definitions of Convenience Class Claim

Convenience Class Claim means a claim against a WV Debtor that is in an amount of less than $100.00.

Convenience Class Claim means an Allowed Unsecured Claims equal to or less than five thousand dollars ($5,000.00) and or an Allowed Unsecured Claim that exceeds five thousand dollars ($5,000.00) and whose Holder has elected voluntarily to reduce the Allowed Amount of such Claim to five thousand dollars ($5,000.00), waive and release any excess amount of such Claim and any remaining Claims against the Debtors, their Estates, and the Liquidating Trustee, and participate in Class 4.

Convenience Class Claim means a General Unsecured Claim (other than a Royalty Payment Litigation Claim) with a Face Amount equal to or less than $100,000.

Convenience Class Claim means one or more Proven Claims of a Convenience Class Creditor;

Convenience Class Claim means: (a) one or more Proven Claims of an Affected Creditor that are less than or equal to $2,500 in the aggregate; and (b) one or more Proven Claims of an Affected Creditor in an amount in excess of $2,500 in the aggregate and which the relevant Affected Creditor has validly elected to value at $2,500 for the purposes of the Plan pursuant to a Convenience Class Claim Election;

Convenience Class Claim means a Claim that would otherwise be classified as a General Unsecured Claim but, with respect to each Claim, either (i) the aggregate amount of such Claim is less than $2,000, or (ii) the aggregate amount of such Claim is reduced to $2,000 by agreement of the holder of such Claim.

Convenience Class Claim means a Claim, other than a Claim based on an Old Note, against any of the Debtors that would otherwise be a General Unsecured Claim and that is greater than $0 and less than or equal to $2,000 in Allowed amount; provided, however, that a General Unsecured Claim or a Non-Convenience Class Retiree Claim originally Allowed in an amount in excess of $2,000 may not be sub-divided into multiple Claims of $2,000 or less for purposes of receiving treatment as a Convenience Class Claim.