Debtor SC SJ definition

Debtor SC SJ means SC SJ Holdings LLC.
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Examples of Debtor SC SJ in a sentence

  • On March 10, 2021, Debtor SC SJ Holdings LLC commenced with this Bankruptcy Court a voluntary case under chapter 11 of the Bankruptcy Code.

  • If the Project Manager believes that any such payments will not be promptly made by the Contractor, KRRC may pay for any such labor, services and materials, from any date to any date, and to any amount which may be payable, and the amount or amounts so paid shall be deducted from any monies that may be due or that thereafter may become due to the contractor.

  • On March 5, 2021 and March 10, 2021, respectively, Debtor SC SJ and Debtor FMT filed voluntary petitions for relief under chapter 11 of Bankruptcy Code in the Bankruptcy Court.

  • Debtor SC SJ will continue to exist after the Effective Date as a separate legal entity, with all the powers of a limited liability company pursuant to the applicable law in its state of incorporation or organization.

  • As explained above, Debtor SC SJ believes that it can negotiate a favorable management agreement with a leading hotel brand, coupled with a significant and affordable mezzanine loan (or other subordinated financing), the proceeds of which will be used to fund certain distributions under the Plan, satisfy post-petition debt-service payments on the Prepetition Secured Loan, and pay for the Hotel’s post-petition operating expenses.

  • When Debtor SC SJ purchased the Hotel in January 2018, it entered into a three-party agreement with Fairmont and FMT SJ called the Owner Agreement.

  • In full and final satisfaction, settlement, release, and discharge of, and in exchange for, each Allowed DIP Claim, the DIP Lender shall receive (a) deferred cash payments for a period of two years after the Effective Date, which shall be equal to the present value of the Allowed DIP Claim, or (b) such other treatment as the DIP Lender and the Debtor SC SJ or Reorganized SC SJ, as applicable, have agreed upon in writing.

  • The image to the right shows an installed accelerometer on a bearing housing.

  • As such, I can attest that the New Hotel Management Agreement and the related financing and credit support is within Debtor SC SJ’s sound business judgment and in the best interest of the Hotel, Debtor SC SJ, and its creditors.

  • Debtor SC SJ has agreed to seek a Mezzanine Loan (i) in an amount of not less than $45 million, (ii) that has a term of at least five (5) years, and (iii) that bears interest at a rate of no more than seven percent (7.00%) per annum.

Related to Debtor SC SJ

  • Non-Debtor Subsidiaries means all direct and indirect subsidiaries of any Debtor that are not Debtors in the Chapter 11 Cases.

  • DIP Facility Claims means all Claims held by the DIP Facility Agent and the DIP Facility Lenders pursuant to the DIP Facility Agreements and the Final DIP Order.

  • Reorganized Debtor means a Debtor, or any successor or assign thereto, by merger, consolidation, or otherwise, on and after the Effective Date.

  • Superpriority Claim means a claim against the Borrower and any Guarantor in any of the Cases which is an administrative expense claim having priority over any or all administrative expenses of the kind specified in Sections 503(b) or 507(b) of the Bankruptcy Code.

  • Prepetition Collateral means the collateral securing the Prepetition BP Secured Claim, including, without limitation, the Posted Collateral.

  • Reorganized Debtors means, subject to the Restructuring Transactions, the Debtors as reorganized pursuant to this Plan on or after the Effective Date, and their respective successors.

  • DIP Facility Claim means a Claim arising under or as a result of the DIP Facility.

  • Debtor Laws means all applicable liquidation, conservatorship, bankruptcy, moratorium, arrangement, receivership, insolvency, reorganization, or similar laws, or general equitable principles from time to time in effect affecting the rights of creditors generally.

  • Administrative Claims Bar Date means the deadline for Filing requests for payment of Administrative Claims, which: (a) with respect to Administrative Claims other than Professional Fee Claims, shall be 30 days after the Effective Date; and (b) with respect to Professional Fee Claims, shall be 45 days after the Effective Date.

  • Administrative Claims means (i) Claims that have been timely filed before the Administrative Claim Bar Date, pursuant to the deadline and procedure set forth in the Confirmation Order (except as otherwise provided by a separate order of the Bankruptcy Court), for costs and expenses of administration under sections 503(b), 507(b), or 1114(e)(2) of the Bankruptcy Code, including, without limitation: the actual and necessary costs and expenses incurred after the Petition Date of preserving the Estates and operating the businesses of the Debtors (such as wages, salaries, or commissions for services and payments for goods and other services and leased premises), (ii) Twenty Day Claims, and (iii) Claims timely asserted for stub rental payments under the Debtors’ leases. Any fees or charges assessed against the Estates 1 All capitalized terms not otherwise defined herein shall be subject to the definition of such capitalized terms in Article I.A. hereof. under section 1930 of chapter 123 of title 28 of the United States Code are excluded from the definition of Administrative Expense Claim and shall be paid in accordance with Article V.M of the Plan. Notwithstanding anything to the contrary herein, the filing of an Administrative Claim shall not be required in order to receive payment for any tax liability described in sections 503(b)(1)(B) and (C) in accordance with section 503(b)(1)(D) of the Bankruptcy Code.

  • Administrative Claim Bar Date means the deadline for filing requests for payment of Administrative Claims, which shall be 30 days after the Effective Date.

  • Unsecured Claims means claims which are not secured by any property of the Debtor’s Estate and which are not part of any other class defined in this Plan.

  • General Unsecured Claims means any unsecured claim (other than an Administrative Claim, a Priority Tax Claim, an Other Priority Claim, a Prepetition Term Loan Claim, or an Intercompany Claim) against one or more of the Debtors including (a) Claims arising from the rejection of Unexpired Leases and Executory Contracts to which a Debtor is a party, and (b) Claims arising from any litigation or other court, administrative or regulatory proceeding, including damages or judgments entered against, or settlement amounts owing by a Debtor related thereto.

  • Priority Claims means, collectively, Priority Tax Claims and Other Priority Claims.

  • Other Priority Claims means any Claim, other than an Administrative Claim or a Priority Tax Claim, entitled to priority in right of payment under section 507(a) of the Bankruptcy Code.

  • DIP Motion means the motion and proposed form of Interim DIP Order filed by the Loan Parties with the Bankruptcy Court on the Petition Date or as soon as reasonably practicable thereafter seeking approval, on an interim and final basis, of (among other things) the DIP Facility, and authorization for the use of cash collateral (including such terms and conditions relating to adequate protection in connection therewith), in each case, in form and substance acceptable to the Agent and the Required Lenders.

  • General Unsecured Claim means any Claim that is not a/an: Administrative Claim; DIP Facility Claim; Professional Fee Claim; Priority Tax Claim; Secured Tax Claim; Other Priority Claim; Other Secured Claim; Intercompany Claim; Prepetition Debt Claim; or 510(b) Equity Claim.

  • Secured Claims means Claims held by “secured creditors” as defined in the CCAA, including Construction Lien Claims, to the extent of the Allocated Value of the Property securing such Claim, with the balance of the Claim being a Deficiency Claim, and amounts subject to section 6(6) of the CCAA;

  • Prepetition means arising or accruing prior to the Petition Date.

  • DIP means (1) the debtor in possession in a chapter 11 case in which no trustee has been appointed and is serving, and (2) the debtor in possession in a chapter 12 case in which the debtor has not been removed under §1204 without reinstatement.

  • Noteholder Claims means all Obligations in respect of the Notes or arising under the Noteholder Documents or any of them, including all fees and expenses of the Trustee thereunder.

  • Allowed Unsecured Claim means all or that portion of an Unsecured Claim which is an Allowed Claim.

  • DIP Facility means the debtor-in-possession secured financing facility provided to the Debtors by the DIP Lenders pursuant to the DIP Credit Agreement as authorized by the Bankruptcy Court pursuant to the DIP Facility Order.

  • Reorganized means, with respect to the Debtors, any Debtor or any successor thereto, by merger, consolidation or otherwise, on or after the Effective Date.

  • Priority Claim means a Claim that is entitled to priority in payment pursuant to section 507(a) of the Bankruptcy Code that is not an Administrative Claim or a Priority Tax Claim.

  • Other Secured Claims means any Secured Claim against the Debtors that is not an Administrative