Diminution Claim definition

Diminution Claim means the Claims of the Bond Trustee for diminution in value from and after the Petition Date of the Bond Trustee’s interest in any Bond Collateral resulting from the Debtors’ postpetition use of Bond Collateral or the imposition of the automatic stay.
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Diminution Claim means the Pre-Petition Lenders’ claim for the diminution of the value of their interests in the Pre-Petition Collateral supported by the Senior Lender Adequate Protection Liens under the Final Order (i) Authorizing Debtors (a) to Obtain Post-Petition Financing Pursuant to 11 U.S.C. §§ 105, 361, 362, 363(b), 364(c)(1), 364(c)(2), 364(c)(3), 364(d)(1) and 364(e) and (b) to Utilize Cash Collateral Pursuant to 11 U.S.C. § 363 and (ii) Granting Adequate Protection to Pre-Petition Secured Parties Pursuant to 11 U.S.C.§§ 361, 362, 363, 364 and 507(b) (Docket No. 465) (the “Final DIP Order”), calculated consistent with the Diminution Claim Allowance Settlement. Capitalized terms used in this definition but not otherwise defined in this Agreement shall have the meaning specified in the Final DIP Order.
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Diminution Claim means the Trustee’s claim for Diminution as defined in and arising under the DIP Orders.
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Examples of Diminution Claim in a sentence

  • The Liquidation Trust is obligated under the Plan to make a payment in the amount of $10 million on the Effective Date to the Post- Consummation Trust in satisfaction of the Diminution Claim.

  • The Diminution Claim payment and the Committee Settlement Payment may be satisfied by means of a net $4 million payment from the Liquidation Trust to the Post-Consummation Trust in satisfaction of both the Diminution Claim and the Committee Settlement Payment.

  • On the Effective Date, and in accordance with and pursuant to the terms of the Plan, sections 1123(a)(5)(B) and 1123(b)(3)(B) of the Bankruptcy Code, and Bankruptcy Rule 9019, (a) the Liquidation Trust will transfer to the Post-Consummation Trust the Diminution Claim payment and (b) the Debtors will transfer to the Post-Consummation Trust all of their rights, title, and interests in all of the Post-Confirmation Trust Assets.

  • In accordance with section 1129(a)(9) of the Bankruptcy Code, the Term Loan Agent and the Term Loan Lenders have agreed to the foregoing treatment of the Term Loan Diminution Claim, even though the holders of the Term Loan Diminution Claim may not receive payment in cash equal to the allowed amount of the Term Loan Diminution Claim.

  • The waterfall governing payment of the First Midwest Diminution Claim is set forth in Section 6.2 of the Joint Plan.

  • Subject to Section 1.3(b), in no event shall any part of the Post-Consummation Trust Assets or the Trust Proceeds revert to or be distributed to any of the Debtors or, in the case of the Diminution Claim Proceeds, to the Liquidation Trust.

  • The Liquidation Trust Administrator shall enforce the Liquidation Trust’s rights with respect to the Committee Settlement Payment and is authorized and directed to make a payment from the Trust Proceeds to the Post-Consummation Trust in satisfaction of the Diminution Claim on the Effective Date as required by Article IV.B.1 of the Plan.

  • Nothing in the Plan or the Confirmation Order shall prevent the Term Loan Agent or the Term Loan Lenders from asserting a Term Loan Diminution Claim in an amount greater than $25 million prior to or after the Effective Date, and all of the Term Loan Agent’s and Term Loan Lenders’ rights to assert such a claim are hereby preserved.

  • As further adequate protection for the Prepetition First Lien Diminution Claim, the Debtors shall pay interest on the Prepetition First Lien Obligations in cash, as andwhen such interest is payable under the Prepetition First Lien Loan Documents, at the non- default rate until such time as the Prepetition First Lien Obligations are either (i) indefeasibly paid in full in cash or (ii) converted into a post-petition Term Loan.

  • The term “Post-Consummation Trust Assets” includes all assets of the Debtors and the proceeds thereof that are not transferred to the Liquidation Trust pursuant the Liquidation Trust Agreement, including without limitation any Causes of Action transferred to the Post-Consummation Trust and the Diminution Claim Proceeds.


More Definitions of Diminution Claim

Diminution Claim means the claim of the Pre-Petition Revolving Secured Parties for any diminution in the value of the Pre-Petition Revolving Collateral subject to the Pre-Petition Revolving Liens during the pendency of the Chapter 11 Cases, which diminution claim shall be no less than a minimum amount to be determined through the reasonable good faith efforts and with the mutual agreement of the Committee, the Debtors, the Liquidating Trustee and the Pre-Petition Revolving Credit Lender and to be to be set forth in the Plan Supplement; provided however, if no agreement has been reached among the Committee, the Debtors, the Liquidating Trustee and the Pre-Petition Revolving Credit Lender with respect to the minimum amount of the Diminution Claim on or prior to the date of the Confirmation Hearing, each party’s rights with respect to the amount of the Diminution Claim will be preserved.
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Diminution Claim means the diminution in value from and after the PetitionDate of the valid, enforceable and non-avoidable interest of a Holder of a Claim in thePre-Petition Collateral (as defined in the DIP Order). The Debtor does not believe that there are any Diminution Claims, which is disputed by the Pre-Petition Lenders.
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Related to Diminution Claim

  • Litigation Claims means the claims, rights of action, suits or proceedings, whether in law or in equity, whether known or unknown, that any Debtor or any Estate may hold against any Person or Entity, including, without limitation, the Causes of Action of the Debtors or their Estates, in each case solely to the extent of the Debtors’ or their Estates’ interest therein. A non-exclusive list of the Litigation Claims held by the Debtors as of the Effective Date will be Filed with the Plan Supplement, which will be deemed to include any derivative actions filed against any Debtor as of the Effective Date.

  • Rejection Claim means a Claim arising from the rejection of an Executory Contract or Unexpired Lease pursuant to section 365 of the Bankruptcy Code.

  • Indemnification Claim has the meaning set forth in Section 8.4(a).

  • De Minimis Claim has the meaning set forth in Section 7.4(a).

  • Indemnity Claim has the meaning set forth in Section 8.3.

  • Proven Claim means (a) a Claim of a Creditor, Finally Determined as an Allowed Claim for voting, distribution and payment purposes under the Plan, (b) in the case of the Participating CCAA Parties in respect of their CCAA Party Pre-Filing Interco Claims, and in the case of the Non-Filed Affiliates in respect of their Non-Filed Affiliate Unsecured Interco Claims and Non- Filed Affiliate Secured Interco Claims, as such Claims are declared, solely for the purposes of the Plan, to be Proven Claims pursuant to and in the amounts set out in the Amended and Restated Meetings Order, and (c) in the case of Employee Priority Claims and Government Priority Claims, as Finally Determined to be a valid post-Filing Date claim against a Participating CCAA Party;

  • Liability Claim has the meaning set forth in Section 7.2(a).

  • Tax Claim has the meaning set forth in Section 6.05.

  • Third Party Claim has the meaning set forth in Section 8.3.

  • Deficiency Claim means any portion of a Claim (a) to the extent the value of the holder’s interest in Assets securing such Claim is less than the amount of such Claim or (b) to the extent the amount of a Claim is subject to setoff is less than the amount of the Claim, each as determined by § 506(a) of the Bankruptcy Code.

  • Third Party Infringement Claim has the meaning set forth in Section 23.5.1.

  • Infringement Claim has the meaning set forth in Section 8.2(a).

  • Direct Claim has the meaning set forth in Section 8.05(c).

  • Indemnification Claim Notice has the meaning set forth in Section 11.3.

  • Third party claimant means any individual, corporation, association, partnership, or other legal entity asserting a claim against any individual, corporation, association, partnership, or other legal entity insured under an insurance policy or insurance contract.

  • Exculpated Claim means any claim related to any act or omission in connection with, relating to or arising out of the Debtors’ in or out-of-court restructuring efforts (including any and all actions associated with exploration and solicitation of financing/refinancing opportunities, sales or similar transactions, restructurings, the Chapter 11 Cases, formulation, preparation, dissemination, negotiation or filing of the Disclosure Statement or the Plan or any contract, instrument, release or other agreement or document created or entered into in connection with the Disclosure Statement or the Plan, the filing of the Chapter 11 Cases, the pursuit of confirmation of the Plan, the administration and implementation of the Plan, the issuance of the Series 2020 Note and the execution of 2020 Bond Documents, or the distribution of property under the Plan or any other related agreement; provided, however, that Exculpated Claims shall not include any act or omission that is determined in a Final Order to have constituted gross negligence, willful misconduct or fraud to the extent imposed by applicable non-bankruptcy law. For the avoidance of doubt, no Cause of Action, obligation or liability expressly established or preserved by the Plan or the Plan Supplement constitutes an Exculpated Claim.

  • Claim means any action, claim, obligation, liability, expense, lawsuit, demand, suit, inquiry, hearing, investigation, notice of a violation, litigation, proceeding, arbitration, or other dispute, whether civil, criminal, administrative or otherwise, whether pursuant to contractual obligations or otherwise.

  • Expected Claim Notice means a notice that, as a result of a legal proceeding instituted by or written claim made by a third party, an Indemnified Party reasonably expects to incur Damages for which it is entitled to indemnification under Article VI.

  • AWR Claim means any complaint or claim to a tribunal or court made by or on behalf of the Agency Worker against the Hirer and/or the Employment Business for any breach of the AWR;

  • Hearing impairment means an impairment in hearing, whether permanent or fluctuating, that adversely affects the child's educational performance but that is not included under the definition of deafness in this section.

  • Released Defendants’ Claims means all claims and causes of action of every nature and description, whether known claims or Unknown Claims, whether arising under federal, state, common or foreign law, that arise out of or relate in any way to the institution, prosecution, or settlement of the claims asserted in the Action against Defendants. Released Defendants’ Claims do not include: (i) any claims relating to the enforcement of the Settlement;

  • IPR Claim means any claim of infringement or alleged infringement (including the defence of such infringement or alleged infringement) of any IPR, used to provide the Services or as otherwise provided and/or licensed by the Supplier (or to which the Supplier has provided access) to the Authority in the fulfilment of its obligations under this Framework Agreement;

  • Relevant Claim means a Warranty Claim or any claim by any Investor for indemnification or pursuant to any other provision of this Agreement.

  • Retained Causes of Action means those Causes of Action that shall vest in the Reorganized Debtors on the Effective Date, which, for the avoidance of doubt, shall not include any of the Causes of Action that are settled, released or exculpated under the Plan.

  • Infringement Action has the meaning set forth in Section 9.6(b).

  • Released Claim means the matters that are subject to release and discharge pursuant to ARTICLE 10 hereof;