Electing Creditors definition

Electing Creditors means the holders of Allowed Claims in the Participating Creditor Classes who, at the time of voting on the Plan, make a binding election to seek to receive the maximum available percentage of their recovery in the form of Cash or the maximum available percentage of their recovery in the form of New Common Stock.
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Electing Creditors means Creditors having an Electing Creditor Claim and “Electing Creditor” means any of them;
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Electing Creditors means the holders of Allowed Claims in the Participating Creditor
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Examples of Electing Creditors in a sentence

  • To the extent that a creditor makes such an election, the Cash or New Common Stock that otherwise would be distributable to such creditor will be aggregated in the Electing Creditors’ Pool and will be reallocated among all Electing Creditors according to their recovery preferences (with all distributions to be made such that each Electing Creditor receives the aggregate value of consideration it otherwise would be entitled to, in the form of the preferred distribution to the extent possible).

  • Holders of Class 4 Claims may become Electing Creditors by executing the Election Designation pursuant to Section 6.9 of the Plan.

  • Such cash shall be deemed to be Settlement Cash and distributed to Electing Creditors as such under the Plan.

  • Holders of Class 4 Claims may elect to become Electing Creditors by executing the Election Designation.

  • The FPFG Intercompany Claim shall be allowed as a Class 4 General Unsecured Claim in an amount equal to the total remaining balance of Class 4 Allowed General Unsecured Claims held by Electing Creditors after application of their prorata share of the Existing Estate Cash and WIB Note Cash, however, the Allowed amount of the FPFG Intercompany Claim shall in no event be less than $50,000,000.

  • The Beneficial Interests reallocated to Electing Creditors specified by this Section shall be canceled upon satisfaction of all payments to Electing Creditors required by Section 7.2.7 of this Trust Agreement.

  • Upon the satisfaction and payment in full of Class 5 Subordinated Claims in accordance with Section 7.2 of this Trust Agreement, $2 million of Creditor Cash shall be distributed to Beneficiaries who are Electing Creditors on a pro rata basis.

  • Thereafter, such quarterly payments shall continue until an additional $2 million has been paid to the Trust and such $2 million shall be distributed pro-rata to Electing Creditors.

  • Based on the consent to release and discharge the Electing Creditor Released Claims asserted by Electing Creditors, which such consent is evidenced by the Election Designation, the Electing Creditor Released Claims held by Electing Creditors are hereby deemed satisfied, discharged, and released in full.


More Definitions of Electing Creditors

Electing Creditors. Pool” means the pool of Cash and New Common Stock that otherwise
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Related to Electing Creditors

  • Senior Creditors means, (a) depositors of the Issuer, (b) creditors of the Issuer who are unsubordinated creditors of the Issuer, and (c) creditors of the Issuer whose claims are or are expressed to be subordinated to the claims of other creditors of the Issuer (other than those whose claims are in respect of obligations which constitute, or would but for any applicable limitation on the amount of such capital, constitute, Tier 1 capital or Tier 2 capital or whose claims rank or are expressed to rank pari passu with, or junior to, the claims of holders in respect of the Notes) (whether only in a Winding Up of the Issuer or otherwise);

  • Senior Representative means, with respect to any series of Permitted First Priority Refinancing Debt, Permitted Second Priority Refinancing Debt or other Indebtedness, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be, and each of their successors in such capacities.

  • Preferred Proponent(s means the Proponent(s) selected by the Evaluation Team to enter into negotiations for a Contract;

  • Other Creditors shall have the meaning provided in the recitals of this Agreement.