General Unsecured Convenience Claim means a General Unsecured Claim in an amount of $500.00 or less, inclusive of interest accrued thereon, after the Petition Date through the later to occur on the Effective Date or the Claim Payment Date; provided that, if the holder of an Unsecured Claim in an amount greater than $500.00 makes an election to reduce such Claim to $500.00, such Claim will be treated as a General Unsecured Convenience Claim for all purposes. Such election will be made on the Ballot, completed and returned within the time fixed by order of the Court. Making this election will be deemed to be a waiver by such electing holder of any right to participate in Class 5, as to any and all Claims held by such holder.
General Unsecured Convenience Claim means any General Unsecured Claim in an amount of $500.00 or less, or voluntarily reduced to $500.00 by the Holder of such Claim. To the extent a Creditor filed multiple General Unsecured Claims, if those Claims in the aggregate exceed $500.00, none of those Claims will be treated as General Unsecured Convenience Claims, unless the Holder of those Claims voluntarily reduces their aggregate value to $500.00.
General Unsecured Convenience Claim means any General Unsecured Claim in an amount of $500 or less, or voluntarily reduced to $500 by the holder of such Claim.
Examples of General Unsecured Convenience Claim in a sentence
All Class 4 Claims that resulted from the election of a holder of a General Unsecured Claim to be paid as a General Unsecured Convenience Claim will receive$500 total, without interest.
Any general unsecured creditor may, through its Ballot, elect to waive its General Unsecured Claim, and instead obtain payment as a General Unsecured Convenience Claim holder.
Except to the extent previously paid during the Chapter 11 Cases or such holder agrees to less favorable treatment, each holder of an Allowed General Unsecured Convenience Claim shall receive, in full and final satisfaction of its General Unsecured Convenience Claim, Cash in an amount equal to 1.0% of the amount of such Allowed General Unsecured Convenience Claim.
All Class 6 Claims that resulted from the election of a holder of a General Unsecured Claim to be paid as a General Unsecured Convenience Claim will receive $2,000.00 total, without interest.
Class 2 consists of the Holders of General Unsecured Convenience Claims against the Debtor or Holders of Unsecured Claims who elect to be treated as a General Unsecured Convenience Claim.
More Definitions of General Unsecured Convenience Claim
General Unsecured Convenience Claim means a Claim which would otherwise be a General Unsecured Claim which is in an amount equal to or less than $15,000.
General Unsecured Convenience Claim means (i) a Trade Vendor/Lease Rejection Claim or an Other Unsecured Claim if the Allowed amount of such Claim is less than or equal to $30,000 and (ii) a Trade Vendor/Lease Rejection Claim or Other Unsecured Claim if, in either instance, the Allowed amount of such Claim is greater than $30,000 and the holder of such Claim has agreed to reduce the allowed amount of its Claim to $30,000 or less and made the Convenience Class Election on the Ballot within the time fixed by the Bankruptcy Court.
General Unsecured Convenience Claim means a Claim against the Debtors that otherwise would be included in the Classes of the Plan containing General Unsecured Claims that is (a) for $25,000 or less or (b) for more than $25,000 if the holder of such Claim has made the Convenience Class Election on the Ballot provided for voting on the Plan within the time fixed by the Bankruptcy Court for completing and returning such Ballot to accept $3,750 in Cash in full satisfaction, discharge and release of such Claim.
General Unsecured Convenience Claim means a General Unsecured Claim (other than a 2020 Notes Claim, 2023 Notes Claim or Direct Loan Claim) against one or more of the Avianca Debtors that is Allowed in an amount of $500,000 or less.
General Unsecured Convenience Claim means Claims that would otherwise be classified as General Unsecured Claims but, with respect to each Claim either (i) the aggregate amount of such Claim is less than $30,000, or (ii) the aggregate amount of such Claim is reduced to $30,000 by agreement of the holder of such Claim. For the avoidance of doubt, General Unsecured Convenience Claims do not include Borrower Claims.
General Unsecured Convenience Claim means a General Unsecured Claim that (x) is Allowed in the amount of $50,000 or less and (y) would otherwise be considered a General Unsecured Claim; provided, however, that any General Unsecured Claim that is Allowed in excess of $50,000 shall not be treated as a General Unsecured Convenience Claim unless the Holder of such Allowed General Unsecured Claim opts in to such treatment, and agrees to reduce its Allowed General Unsecured Claim to $50,000 pursuant to the procedures set forth in the Confirmation Order. For the avoidance of doubt, General Unsecured Convenience Claims exclude Unsecured Funded Debt Claims.
General Unsecured Convenience Claim means a Class 4 Claim (i) equal to or less than $5,000 for which the Holder thereof has not made an irrevocable written election to opt-out of the classification of Class 6 on a validly executed and timely delivered ballot which election would have caused such Holder to instead be deemed a Holder of a Class 4 General Unsecured Claim for all purposes (including voting and distribution) and (ii) in excess of $5,000 for which the Holder thereof has made an irrevocable written election to opt-into the classification of Class 6 on a validly executed and timely delivered ballot which election would have reduced such Claim to $5,000 and have caused such Holder to instead be deemed a Holder of a Class 6 General Unsecured Convenience Claim for all purposes (including voting and distribution).