Deficiency Claims definition

Deficiency Claims means, with respect to any Claim secured by a valid Lien on any property of any Debtor having a value of less than the amount of such Claim (after taking into account other Liens of higher priority on such property), the portion of such Claim equal to the difference between (a) the amount of the Claim and (b) the Allowed amount of the secured portion of such Claim (which Allowed secured amount may be set pursuant to the Committee’s Plan).

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Deficiency Claims means, with respect to each Prepetition Facility, Claims against the applicable Debtor(s) in the amount by which the Allowed aggregate amount of the Claims under such Pre-petition Facility exceeds the amount of the Secured Claim thereunder.

Deficiency Claims means, collectively, the First Lien Deficiency Claims and the Second Lien Notes Deficiency Claims.

Examples of Deficiency Claims in a sentence

Notwithstanding anything in this Agreement to the contrary, ABL Claimholders may receive and retain any cash, debt, or equity securities on account of ABL Deficiency Claims or in respect of any other portion of their ABL Secured Claims that are not on account of their interest in the Term Loan Priority Collateral.
Notwithstanding anything in this Agreement to the contrary, Term Loan Claimholders may receive and retain any cash, debt, or equity securities on account of Term Loan Deficiency Claims or in respect of any other portion of their Term Loan Secured Claims that are not on account of their interest in the ABL Priority Collateral.
On the Effective Date, at the Debtors’ direction, the Holders of First Lien Notes Claims shall waive their distributions on account of any First Lien Notes Deficiency Claims.
The pro rata calculation of the portion of the General Equity Pool shall be calculated by grouping the Second Lien Deficiency Claims together with the Class 2A claims.
If the Settlement is not approved in connection with confirmation of the Plan, the Plan (pursuant to its terms) will be automatically deemed modified to exclude: (i) the Third Lien Intercreditor Settlement and (ii) the waiver of (a) the Diminution in Value Claim and (b) the Noteholder Deficiency Claims by the 2012 Credit Facility Lenders, the Second Lien Noteholders, and the Third Lien Noteholders (as applicable).
Nothing in this Agreement prohibits or limits the right of a Second Lien Claimholder to receive and retain any cash, debt, or equity securities on account of Second Lien Deficiency Claims.
Nothing in this Agreement prohibits or limits the right of a Term Loan Claimholder to receive and retain any cash, debt, or equity securities on account of Term Loan Deficiency Claims or otherwise from the Term Loan Priority Collateral.
To the extent that the confirmed plan of reorganization does not specify whether the Term Loan Claimholders are receiving any particular distribution, in whole or in part, on account of their Term Loan Deficiency Claims, such distribution shall be conclusively presumed to be on account of their Term Loan Secured Claims.
Initial Holders On or after the Effective Date, in accordance with and subject to the terms of the Plan, holders of allowed General Unsecured Claims (other than holders of Senior Secured Notes Deficiency Claims and Unsecured Notes Claims) shall each receive their pro rata share of the New Unsecured Notes.
For the avoidance of doubt, any distribution of the TCEH Cash Payment that would otherwise be made to or received by holders of Allowed TCEH First Lien Deficiency Claims pursuant to this Section 2.2(a), if applicable, shall be subject to Section 2.2(b) of this Settlement Agreement.

More Definitions of Deficiency Claims

Deficiency Claims means the First Lien Deficiency Claims (if any) and the Secured Notes Deficiency Claims.

Deficiency Claims means any portion of an Allowed Claim(s) secured by a Lien on property in which the Estate has an interest, or that is subject to setoff, to the extent that the value of such Creditor’s interest or the amount subject to setoff is less than the amount of such Allowed Claim.

Deficiency Claims means, in respect of a creditor holding valid security, the amount by which such creditor’s secured claim (including, without limitation, Non-Filed Affiliate Secured Interco Claims) exceeds the value recoverable by such creditor from the proceeds of their collateral, as determined by the Monitor in accordance with the Allocation Methodology.

Deficiency Claims shall have the meaning ascribed to such term in Section 1.8 of the RRR Agreement.

Deficiency Claims means any Claims that result from a shortfall of the value of the secured lenders’ collateral when applied to the Revolving Credit Agreement Claims. The Deficiency Claim amount asserted at any given Debtor may vary from other Debtors, based on the recovery of the value of the secured lenders’ collateral at a specific Debtor. In addition, Holders of Administrative Claims may also have a Deficiency Claim based on the Liquidation Proceeds available against the Debtor at which they have their Administrative Claim. These Deficiency Claims are assumed to be asserted

Deficiency Claims means, collectively, the 15% Notes Deficiency Claims, the HNS License Facility Deficiency Claims and the HNS Vendor Credit Facility Deficiency Claims.