GUC Convenience Claim definition

GUC Convenience Claim means any General Unsecured Claim in an Allowed amount greater than $0.01 but less than or equal to $500; provided that any Holder of an Allowed General Unsecured Claim other than an Unsecured Notes Claim or a Term Loan Deficiency Claim may elect to have such Claims reduced to $500 and treated as an Allowed GUC Convenience Claim for purposes of the Plan.
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GUC Convenience Claim means any unsecured Claim against any Debtor in an allowed amount greater than $0.01 but less than or equal to $[●]; provided that holders of Other General Unsecured Claims and/or Ongoing Trade Claims may elect to have such Claims reduced to $[●] and treated as a GUC Convenience Claim for purposes of the Plan; provided, further, that the aggregate amount paid to all holders of allowed GUC Convenience Claims shall not exceed $[●].3
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GUC Convenience Claim means any General Unsecured Claim in an Allowed amount
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Examples of GUC Convenience Claim in a sentence

  • Except to the extent that a Holder of an Allowed GUC Convenience Claim agrees to less favorable treatment, in full and final satisfaction, settlement, release, and discharge of, and in exchange for each Allowed GUC Convenience Claim, on the Effective Date each Holder thereof shall receive Cash in an amount equal to [●] percent of such Holder’s Allowed GUC Convenience Claim.

  • The Company Parties and the Required Consenting Term Loan Lenders shall negotiate in good faith regarding the GUC Convenience Claim thresholds to be set forth in the Plan.

Related to GUC Convenience Claim

  • Convenience Claim means a Claim that would otherwise be an Other Unsecured Claim that is

  • Unsecured Claim means any Claim that is not a Secured Claim.

  • Intercompany Claim means any Claim held by a Debtor against another Debtor.

  • Reorganized Debtors means the Debtors on and after the Effective Date.

  • Secured Claim means a Claim that is secured by a Lien on property in which any of the Debtors’ Estates have an interest or that is subject to setoff under section 553 of the Bankruptcy Code, to the extent of the value of the Claim holder’s interest in such Estate’s interest in such property or to the extent of the amount subject to setoff, as applicable, as determined pursuant to section 506(a) of the Bankruptcy Code or, in the case of setoff, pursuant to section 553 of the Bankruptcy Code.

  • DIP Claim means all Claims held by the DIP Lender under the DIP Facility Term Sheet, the DIP Facility, or the Financing Orders, which includes Claims for all principal amounts outstanding of up to $9,000,000 (subject to increase pursuant to the Financing Final Order), plus interest pursuant to the terms of the DIP Facility Term Sheet and the Financing Orders.

  • Secured Claims means Claims held by “secured creditors” as defined in the CCAA, including Construction Lien Claims, to the extent of the Allocated Value of the Property securing such Claim, with the balance of the Claim being a Deficiency Claim, and amounts subject to section 6(6) of the CCAA;