Creditor Shares definition

Creditor Shares means, as to each Creditor, the shares of Common Stock of the Company hereunder as specified below such Creditor’s name on the signature page of this Agreement and next to the heading “Creditor Shares”.

Creditor Shares means the New Common Shares to be issued to the creditors of the Debtors pursuant to the Plan.

Creditor Shares has the meaning set forth in Section 2.2;

Examples of Creditor Shares in a sentence

• On or before the Distribution Date, New Holding Company will be deemed to have issued shares of New Holding Company Common Stock for distribution as follows: (i) the Total Investor Shares to the Plan Investors in accordance with the Investment Agreement and (ii) the Creditor Shares to holders of Allowed Prepetition Note Claims, Allowed Trade Vendor/Lease Rejection Claims, and holders of Other Unsecured Claims who have made the Other Unsecured Claim Election.

• The gain on discharge of liabilities of HK$ 2,636 million represents the excess of liabilities discharged over the cash consideration of approximately HK$106 million and the issuance of Creditors Shares valued at approximately HK$338 million, such amount was derived from 3,881,437,269 Creditor Shares times the issue price of HK$0.087 per share, which is deemed as the shares’ fair value.

• Creditor is the legal and beneficial holder of the Total Indebtedness and the Creditor Shares, free and clear of all liens, claims, options or other encumbrances, and Creditor has not assigned or otherwise transferred any rights to receive payment under the Total Indebtedness to any person.

• Such Creditor is acquiring the Creditor Shares for its own account and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of the Shares (this representation and warranty not limiting such Creditor’s right to sell the Creditor Shares in compliance with applicable federal and state securities laws).

• Such Creditor’s debt cancellation and payment for, and continued beneficial ownership of, the Creditor Shares will not violate any securities or other laws of such Creditor’s jurisdiction applicable to such Creditor.

More Definitions of Creditor Shares

Creditor Shares has the meaning ascribed to it in section "2.2" hereinbelow; a complete listing of such Creditor Shares per Creditor of the Purchaser being set forth in Schedule "C" which is attached hereto;

Creditor Shares means those shares of New Holding Company Common Stock to be distributed to holders of Allowed Prepetition Note Claims, Allowed Trade Vendor/Lease Rejection Claims, and holders of Other Unsecured Claims who have made the Other Unsecured Claim Election, in the total aggregate amount of (i) one-hundred million (100,000,000) shares of such New Holding Company Common Stock minus (ii) a number determined by dividing (a) the total Cash paid or, in the case of the Plan Investors, deemed paid, on account of Prepetition Lender Claims under the Plan by (b) ten.

Creditor Shares has the meaning set forth in Section 5.1 hereof."

Creditor Shares means New Common Shares issued to holders of Allowed Claims in Class C-4 pursuant to Section 5.1(d)(v) of the Plan and any securities of the Company issued with respect thereto pursuant to a stock split, stock dividend, recapitalization or similar transaction.

Creditor Shares mean those shares of Common Stock as are issuable upon conversion of the outstanding shares of Series C Preferred Stock.

Creditor Shares means the new Purchaser Shares to be issued to Purchaser Group Creditors pursuant to and in accordance with the Debt Restructuring Documents (other than the Additional Shares);

Creditor Shares means 10,000 shares of New Common Stock to be distributed to the Disbursing Agent on the Effective Date for Pro Rata Distribution to Holders of Allowed General Unsecured Claims as set forth in Article 4.3 of the Plan.