Disputed Priority Claim definition

Disputed Priority Claim means a Claim in respect of which the treatment of such Claim by the Winding-up Board has been challenged either by that Composition Creditor or by any other Composition Creditor and which challenge has not been finally resolved either by the Icelandic courts or by agreement between the disputing parties, and which would if accepted by the Issuer constitute a Priority Claim.
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Disputed Priority Claim means any asserted Priority Claim, or portion thereof, which the Monitor disputes pursuant to a Notice of Dispute delivered pursuant to paragraph 8 of this Priority Claims Order;
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Disputed Priority Claim means a Claim in respect of which the treatment of such
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Examples of Disputed Priority Claim in a sentence

  • If a final Icelandic court decision recognizes all or part of a Disputed Priority Claim as a Priority Claim, the Winding-up Board shall pay the recognized amount of such Disputed Priority Claim in full in cash.

  • At such time as all or any portion of any Disputed Priority Claim or any Disputed Class 1 or 2C Claim is determined not to be an Allowed Claim, the distribution reserved for such Disputed Claim or such portion, plus any earnings thereon (if any), will be released from the appropriate Disputed Claims Reserve account and returned to the Reorganized Debtors.

  • If a Disputed Priority Claim becomes Disallowed after the Effective Date, the entire amount of the Disputed Priority Claims Fund attributable to such Disputed Priority Claim shall constitute Available Cash.

  • To the extent that an FX-denominated Disputed Priority Claim is recognized in an amount less than the amount reserved with respect to such Claim, the difference between the FX amount reserved on account of such Disputed Claim and the FX actually distributed on account of such Disputed Claim shall become Available Cash.

  • Following the resolution of a dispute by settlement or Final Order pursuant to Section 9.4(a) of the Plan, if a Disputed Priority Claim becomes an Allowed Claim after the Effective Date, the amount of the Disputed Priority Claims Fund attributable to such Disputed Priority Claim shall be released from the Disputed Priority Claims Fund for purposes of making Distributions as required by the Plan to the Holder of such Allowed Claim and any excess shall constitute Available Cash.

  • Class 4 is an Impaired Class and Holders of a Class 4 Claim are entitled to vote on the plan.5 Disputed Priority Claim of the Internal$0.00Debtor disputes validity of theRevenue Service; Estimated Recovery: $0 IRS Claim and has requested that an amended proof of claim be filed.6 Equity Interests$30,000.00The value of the Assets is expected to be sufficient to satisfythe Allowed Claims of Classes 1– 4 in full.

  • In the event there is a timely filed objection to a Priority Claim, at the Closing for the sale of the Units, in the event there are surplus funds available after paying Class 1 Claims, Class 2 Claims and the Allowed Administrative Expense Claims in full, funds sufficient to pay the Maximum Amount of such Disputed Priority Claim shall be delivered to the Plan Administrator from the surplus proceeds of sale at such Closing.

  • In the event there is a timely filed objection to a Priority Claim, at the Closing for the sale of the Units, surplus funds, if any, after paying Class 1 and Class 2 Claim in full, sufficient to pay the Maximum Amount of such Disputed Priority Claim shall be delivered to the PlanAdministrator.

  • To the extent that amounts are so withheld by the Paying Agent, the Surviving Corporation or Acquiror, as the case may be, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the holder of the shares of Company Common Stock in respect of which such deduction and withholding was made by the Paying Agent, the Surviving Corporation or Acquiror, as the case may be.

  • It is the intent of the Plan that the holders of beneficial interests in the Liquidating Trust(including, as described below, the Disputed Priority Claim Reserve Trust and the Disputed General Unsecured Claims Reserve Trust) be treated as the direct owners of undivided interests in the assets held by the Liquidating Trust.

Related to Disputed Priority Claim

  • 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 Priority Claim 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.

  • Disputed Claim means any Claim that is not Allowed.

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

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

  • 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.

  • DIP Claim means a Claim of the DIP Agent or DIP Lenders arising under the DIP Credit Agreement or any of the DIP Orders, including Claims for payment of DIP Expenses.

  • 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;

  • Secured Claim means a Claim: (a) secured by a valid, perfected, and enforceable Lien on collateral to the extent of the value of such collateral, as determined in accordance with section 506(a) of the Bankruptcy Code or (b) subject to a valid right of setoff pursuant to section 553 of the Bankruptcy Code.

  • 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.

  • 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;

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

  • Administrative Claim means a Claim for costs and expenses of administration of the Chapter 11 Cases pursuant to sections 503(b), 507(a)(2), 507(b), or 1114(e)(2) of the Bankruptcy Code, including: (a) the actual and necessary costs and expenses incurred on or after the Petition Date until and including the Effective Date of preserving the Estates and operating the Debtors’ businesses; (b) Allowed Professional Fee Claims; and (c) all payments afforded administrative expense treatment under the Backstop Agreement.

  • Priority Non-Tax Claim means any Claim other than an Administrative Expense Claim or a Priority Tax Claim, entitled to priority in payment as specified in section 507(a) of the Bankruptcy Code.

  • Priority Tax Claim means any Claim of a Governmental Unit of the kind specified in section 507(a)(8) of the Bankruptcy Code.

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

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

  • Priority Lien Obligations means the Priority Lien Debt and all other Obligations in respect of Priority Lien Debt.

  • Secured Tax Claim means any Secured Claim that, absent its secured status, would be entitled to priority in right of payment under section 507(a)(8) of the Bankruptcy Code (determined irrespective of time limitations), including any related Secured Claim for penalties.

  • Allowed Administrative Claim means an Administrative Claim that is an Allowed Claim.

  • 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;

  • Parity Lien Obligations means Parity Lien Debt and all other Obligations in respect thereof.

  • Disputed Claims Reserve means a reserve of Cash that may be funded on or after the Effective Date pursuant to Article VII.E hereof.

  • Additional First Lien Obligations means all amounts owing to any Additional First-Lien Secured Party (including the Initial Additional First-Lien Secured Parties) pursuant to the terms of any Additional First-Lien Document (including the Initial Additional First-Lien Documents), including, without limitation, all amounts in respect of any principal, premium, interest (including any interest accruing subsequent to the commencement of a Bankruptcy Case at the rate provided for in the respective Additional First-Lien Document, whether or not such interest is an allowed claim under any such proceeding or under applicable state, federal or foreign law), penalties, fees, expenses, indemnifications, reimbursements, damages and other liabilities, and guarantees of the foregoing amounts.

  • Unsecured Claim means a Claim that is not an Administrative Claim, a Priority Tax Claim, a Priority Claim, or a Secured Claim.

  • Other First Lien Obligations means (a) the due and punctual payment by any Loan Party of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding) on Indebtedness under any Other First Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of such Loan Party to any Secured Party under any Other First Lien Agreement, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding), (b) the due and punctual performance of all other obligations of such Loan Party under or pursuant to any Other First Lien Agreement and (c) the due and punctual payment and performance of all the obligations of each other Loan Party under or pursuant to any Other First Lien Agreement.