Convenience Creditor Election definition

Convenience Creditor Election means an election form to be completed by an Affected Creditor with a Proven Claim in excess of $1,500 that wishes to be treated as a Convenience Creditor for distribution purposes under the Plan and delivered to the Monitor in accordance with Section 3.5.

Convenience Creditor Election means an election form, substantially in the form provided by the Trustee, to be completed by an Unsecured Creditor with a Proven Claim in excess of $5,000 that elects to be treated as a Convenience Creditor;

Convenience Creditor Election means an election form, substantially in the form attached hereto as Schedule “A”, to be completed by an Unsecured Creditor with a Proven Claim in excess of $2,000 that elects to be treated as a Convenience Creditor, in accordance with Article 3.8 of this Proposal.

Examples of Convenience Creditor Election in a sentence

• The Further Amended Proposal includes the payment in full of Convenience Creditors, or to each creditor who delivered a Convenience Creditor Election Form to the Proposal Trustee by the Convenience Creditor Election Deadline – the latter of which shall receive the lesser of: (i) $15,000; and (ii) the amount of its Proven Claim.

• A copy of the Convenience Creditor Election Form is provided in Schedule “B” of the Amended Proposal.

• Each Convenience Creditor, including, for clarity, any Unsecured Creditors that submit a Convenience Creditor Election, will be paid by the Proposal Trustee an amount in cash equal to the lesser of (a) $2,000 and (b) the value of such Convenience Creditor’s Proven Claim.

• The Chair repeated that no Convenience Creditor Election Forms had been submitted.

• A copy of the Convenience Creditor Election Form is provided in Appendix “J”.

• All Convenience Creditors, including any Unsecured Creditors that submit a Convenience Creditor Election in accordance with the terms herein, shall be paid an amount in cash equal to the lesser of (a) $5,000 and (b) the value of such Convenience Creditor’s Proven Claim.