Examples of Employee Priority Claims in a sentence
All Employee Priority Claims and Government Priority Claims which are Proven Claims, if any, to the extent unpaid prior to the Plan Implementation Date, shall be paid as soon as reasonably practicable after the Plan Implementation Date from the Available Cash pursuant to and accordance with this Plan, the Sanction Order and the CCAA, including for greater certainty payment of all Government Priority Claims which are Proven Claims, if any, within the six month period required under the CCAA.
All Employee Priority Claims and Government Priority Claims which are Proven Claims, if any, to the extent unpaid prior to the Plan Implementation Date, shall be paid in accordance with Sections 6(3) and 6(5) of the CCAA from the applicable Debtor Cash Pool for the Debtor Group(s) such Proven Claims are made against.
Section 5.8 of the Plan provides that Employee Priority Claims, if any, will be paid compliance with section 6(5) of the CCAA.
In addition, the Company has received irrevocable commitments from other Ordinary Shareholders to subscribe for their Open Offer Entitlements (or their equivalent) under the Ordinary Share Issue in respect of 38,992,874 Ordinary Shares representing US$25.2 million.
The Plan provides for the creation of the Priority Claim Reserve, to be funded in cash by the Applicants three business days before implementation of the Plan and held by the Monitor, from which the Crown Priority Claims and the Employee Priority Claims will be paid.