Convenience Class Claims definition

Convenience Class Claims means (i) any Reorganizing Debtor General Unsecured Claim that is under $500 or (ii) any Reorganizing Debtor General Unsecured Claim in excess of $500, which by election of the Holder thereof pursuant to such Holder's ballot elects to have its claim reduced to an amount of $500 and to be treated in Class 9A or Class 7B.

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Convenience Class Claims means General Unsecured Claims (i) in the amount of $5,000 or less or (ii) which the holder of such Claim irrevocably elects on the Ballot to reduce to $5,000.

Convenience Class Claims as described in Subsec- tion 2.13 of the Reorganization Plan.

Examples of Convenience Class Claims in a sentence

Each affected creditor holding one or more CMI Proven Distribution Claims or CTLP Proven Distribution Claims that are Convenience Class Claims will receive a cash payment equal to the lesser of (A) the CMI Maximum Amount or the CTLP Maximum Amount, as applicable and (B) the value of such creditor’s CMI Proven Distribution Claims or CTLP Proven Distribution Claims, as the case may be, in full and final satisfaction of such claims and each such creditor shall be deemed to have voted in favour of the Plan.
Each holder of an allowed General Unsecured Claim (other than a Litigation Claim) with a face amount of $100,000 (the “Maximum Convenience Class Claims Amount”) or less shall receive a cash payment in an amount equal to the allowed amount of its General Unsecured Claim, in full and final satisfaction of its General Unsecured Claim.
If the ASASCO Convenience Class does not vote to accept the Plan, each holder of an ASASCO Convenience Class Claim shall be entitled to its pro rata share of amounts available for distribution to ASASCO Convenience Class Claims in accordance with the ASASCO Proceeds Waterfall.
As used herein, “Similar Claims” shall mean any claim or cause of action against MAEM for which one, or both, of Mirant or MAI also is or may be liable, whether pursuant to a guarantee, theories of joint liability or otherwise; provided, however, that “Similar Claims” shall not include Convenience Class Claims and Intercompany Claims (as such terms are defined in the First Amended Mirant Plan).
Except with respect to Class 3 (Convenience Class) Claims, which shall not be aggregated, if a Claimant or an Interest Holder has more than one Claim or Interest in the same class, such Claims or Interests shall be aggregated and treated as a single Claim or a single Interest, but if a Claimant and/or Interest Holder has Claims and/or Interests in different classes, such Claims and/or Interests shall only be aggregated within the same class and not between classes.

More Definitions of Convenience Class Claims

Convenience Class Claims as described in Subsection 2.13 of the Reorganization Plan.

Convenience Class Claims means a General Unsecured Claim that is either (a) an Allowed Claim in an amount that is equal to or less than $4,000, or (b) an Allowed Claim in an amount that is greater than $4,000, but with respect to which the Holder of such Allowed Claim voluntarily and irrevocably reduces the aggregate amount of such Allowed Claim to $4,000 pursuant to a Convenience Claim Election.

Convenience Class Claims means: (a) Unsecured Proven Claims of a Creditor that total less than or equal to $5,000 in aggregate; and (b) Unsecured Proven Claims of a Creditor that total more than $5,000 in aggregate and for which such Creditor has validly elected to value at $5,000 for purposes of the Plan by filing a Convenience Class Claim Election by the Voting Deadline.

Convenience Class Claims means any Reorganizing Debtor General Unsecured Claim that is under $5,000 that by election of the Holder thereof pursuant to such Holder's ballot elects to be treated in Class 9A or Class 7B in an Allowed amount of no more than $5,000.

Convenience Class Claims has the meaning assigned that term in Section 2.13 of the Reorganization Plan.

Convenience Class Claims means all General Unsecured Claims of $500 or less or any General Unsecured Claim of more than $500 where such Claimant elects on the Ballot to voluntarily reduce the amount of its General Unsecured Claim to $500.

Convenience Class Claims means any Claim that would otherwise be a General Unsecured Claim, but as to which one of the following applies: (a) such Claim is in an amount less than or equal to $10,000; or (b) such Claim is in an amount greater than $10,000 but less than $50,000, and the Holder of such Claim has elected to have such Claim treated as a Class 7 Convenience Class Claim in the amount of $10,000 by so indicating on the Ballot submitted to vote such Claim.