Creditor Assets definition

Creditor Assets means (i) the $15 million in Cash transferred to the Creditor Trust by the Debtors on the Effective Date and (ii) the New Warrants.
Creditor Assets means (i) $12 million in Cash and (ii) the NewWarrants.
Creditor Assets means (i) $12 million in Cash and (ii) the New

Examples of Creditor Assets in a sentence

  • Upon satisfaction of the Allowed Administrative Claims and Professional Fee Claims, the Liquidation Trustee shall administer all remaining Madison Avenue Sublease Profits as General Unsecured Creditor Assets for the benefit of Allowed General Unsecured Claims, except as expressly set forth in the Plan.

  • As of the Effective Date, Holdings or Reorganized Holdings, as the case may be, shall assign and transfer to the Creditor Trust all of its rights, title and interest in and to the Creditor Assets for the benefit of holders of Allowed Holdings General Unsecured Claims.

  • The Creditor Trust Expense Reserves shall initially be funded with such amount of Cash from the Creditor Assets as determined by the Creditor Trust Board.

  • On the Effective Date, the Liquidation Trust shall be formed pursuant to the Plan and established and become effective in accordance with the Liquidation Trust Agreement to liquidate the Liquidation Trust Assets, including, the General Unsecured Creditor Assets, and to enable the Liquidation Trustee to distribute the Liquidation Trust Assets in accordance with the Plan and the Liquidation Trust Agreement.

  • Once they received their visas, refugees didn’t take long to leave for Moscow by train and from there to Vladivostok in the Trans-Siberian railroad.

  • Subject to the provisions of the Liquidation Trust Agreement, to the extent additional funding is so authorized for the liquidation and distribution of General Unsecured Creditor Assets, 100% of such funding shall be paid only out of the General Unsecured Creditor Assets that would otherwise be distributed to the holders of General Unsecured Creditor Interests hereunder.

  • The Plan Administrator shall distribute to the holders of General Unsecured Creditor Interests, on monthly basis (or such other basis as determined by the Plan Administrator), the proceeds of the General Unsecured Creditor Assets.

  • The General Unsecured Creditor Funding Reserve shall be used to pay the expenses related to liquidation and distribution of the General Unsecured Creditor Assets, including without limitation, costs and expenses of counsel or other advisors, in accordance with the Liquidation Trust Agreement.

  • The Creditor Trust Administrative Expense Reserve shall initially be funded from Cash included in the Creditor Assets, in such amount as determined by the Creditor Trust Board, provided that the aggregate initial funding of (i) the Creditor Trust Administrative Expense Reserve pursuant to this Section 6.4(b) and (ii) the Litigation Expense Reserve pursuant to Section 6.5(b), shall be not less than three million dollars ($3,000,000).

  • Subject to Sections 2.5(a) and 2.5(b), upon the transfer of the Creditor Assets and Litigation Assets, the Creditor Trust shall succeed to all of the right, title and interest in the Creditor Assets and Litigation Assets of the Debtors, the Non-RCS Affiliates or the Registered Investment Advisors, as the case may be, and no other Person, including the Debtors or Reorganized Debtors, will have any further rights or interest in or with respect to the Creditor Assets, Litigation Assets or the Creditor Trust.


More Definitions of Creditor Assets

Creditor Assets means (i) $15 million in Cash and (ii) the NewWarrants.
Creditor Assets means (i) $15 million in Cash and (ii) the New Warrants.

Related to Creditor Assets

  • Guarantor Collateral all of the property (tangible or intangible) purported to be subject to the lien or security interest purported to be created by any security agreement, pledge agreement, assignment, mortgage, deed of trust or other security document heretofore or hereafter executed by any Guarantor as security for all or part of the Obligations or the Guarantees.

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Second Lien Collateral Agent means the “Collateral Agent” as defined in the Second Lien Credit Agreement.

  • Second Lien Collateral means all “Collateral”, as defined in any Second Lien Document, and any other assets of any Grantor now or at any time hereafter subject to Liens which secure, but only to the extent securing, any Second Lien Obligations.

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Exercise Any Secured Creditor Remedies or “Exercise of Secured Creditor Remedies” shall mean:

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuer and its Restricted Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuer or any of its Restricted Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services in each case owing to a Person that is a holder of Indebtedness described in clause (i) or Obligations described in clause (ii) or an Affiliate or Representative of such holder at the time of entry into such Hedging Obligations;

  • Permitted Priority Liens means Liens permitted under any of the clauses (b), (c), (d), (e), (f) or (i) of Section 9.02.

  • Senior Lender Claims means (a) the principal of all Indebtedness outstanding under one or more of the Senior Lender Documents to the extent not prohibited by the Indenture (as in effect on the date hereof), and (b) all other Obligations not constituting principal of Indebtedness of any Obligor under the Senior Lender Documents, including, without limitation, all claims under the Senior Lender Documents for interest, fees, expense reimbursements, indemnification and other similar claims. Senior Lender Claims shall include all interest accrued or accruing (or which would, absent the commencement of an Insolvency or Liquidation Proceeding, accrue) after the commencement of an Insolvency or Liquidation Proceeding in accordance with and at the rate specified in the Senior Credit Agreement whether or not the claim for such interest is allowed as a claim in such Insolvency or Liquidation Proceeding. To the extent any payment with respect to the Senior Lender Claims (whether by or on behalf of any Obligor, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be fraudulent or preferential in any respect, set aside or required to be paid to a debtor in possession, trustee, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred. Notwithstanding anything to the contrary contained in the first sentence of this definition, any principal Indebtedness (including reimbursement obligations for drawn or undrawn letters of credit) incurred under the Senior Credit Agreement shall constitute a "Senior Lender Claim" (whether or not such Indebtedness is at any time determined not to have been permitted to be incurred under the Indenture), to the extent, after giving effect to such incurrence, the aggregate principal amount of Indebtedness outstanding under the Senior Credit Agreement does not exceed $15,000,000 (less any prior permanent reductions in the Revolving Loan Commitment).

  • Second Priority Debt Obligations means the Initial Second Priority Debt Obligations and, with respect to any series, issue or class of Second Priority Debt, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Second Priority Debt, (b) all other amounts payable to the related Second Priority Debt Parties under the related Second Priority Debt Documents and (c) any renewals or extensions of the foregoing.

  • Junior Priority Obligations means the Initial Junior Priority Obligations and any Additional Obligations constituting Junior Priority Debt.

  • First Lien Collateral Agent means the “Collateral Agent” as defined in the First Lien Credit Agreement.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Disposition Proceeds means, with respect to each Non-Program Vehicle, the net proceeds from the sale or disposition of such Non-Program Vehicle to any Person (other than any portion of such proceeds payable by the Lessee thereof pursuant to the Lease).

  • Second Priority Secured Parties means the Second Priority Representative, the Second Priority Creditors and any other holders of the Second Priority Obligations.

  • Priority Lien means a first priority Lien (subject in priority only to Permitted Prior Liens) granted in favor of the Collateral Trustee pursuant to a Note Security Document, at any time, upon any property of the Company or any other Grantor to secure Priority Lien Obligations.

  • Shared Collateral means, at any time, Collateral in which the holders of two or more Series of First-Lien Obligations hold a valid and perfected security interest at such time. If more than two Series of First-Lien Obligations are outstanding at any time and the holders of less than all Series of First-Lien Obligations hold a valid and perfected security interest in any Collateral at such time, then such Collateral shall constitute Shared Collateral for those Series of First-Lien Obligations that hold a valid security interest in such Collateral at such time and shall not constitute Shared Collateral for any Series which does not have a valid and perfected security interest in such Collateral at such time.

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • First Lien Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any First Lien Obligations.

  • Senior Creditor means a holder or holders of Senior Indebtedness and includes any representative or representatives, agent or agents or trustee or trustees of any such holder or holders;

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • First Priority Secured Parties means, with respect to each Type of Common Collateral, the First Priority Representative and the holders of the First Priority Obligations.