Examples of Impaired Interests in a sentence
The classification of Claims and Interests and the nature of distributions to Holders of Impaired Claims or Impaired Interests in each Class are summarized below.
The Bankruptcy Code defines “acceptance” of a plan by a class of (i) Impaired Claims as acceptance by creditors in that class that hold at least two-thirds (⅔) in dollar amount and more than one-half (½) in number of the Claims that cast ballots for acceptance or rejection of the Plan and (ii) Impaired Interests as acceptance by Interest holders in that Class that hold at least two- thirds (⅔) in amount of the Interests that cast ballots for acceptance or rejection of the Plan.
Multiply line 6(e) by the top Iowa individual income tax rate for the reviewed year..............................................................................................
Chapter 11 of the Bankruptcy Code provides that, in order for the Bankruptcy Court to confirm the Plan as a consensual plan, the holders of Impaired Claims against, and Impaired Interests in, the Debtors must accept the Plan.
Under the Bankruptcy Code, for purposes of determining whether the Requisite Acceptances have been received, only holders of Impaired Claims and Impaired Interests who actually vote will be counted.
Perhaps the challenge is too big, the vested interests and inertia too much to overcome, the political will or human and financial resources lacking, but the enabling paradigm is rarely matched at the national or local level with practical action.
Under the Plan, there are eight classes of Impaired Claims (Class 3A, 3B, 3C and 3D Holding First Lien Secured Term Loan Claims, Class 4A, 4B, and 4C IHC Second Lien Note Claims, Class 5A and 5B Holding Notes Claims, Class 6A Group Notes Claims, and Class 10(c)A Subordinated Claims) and two classes of Impaired Interests (Class 10(a)A Old Common Stock Interests and Class 10(b)A Other Interests).
Holders of Claims or Interests in Class 1 (Other Priority Claims), Class 2 (Other Secured Claims), Class 6 (Intercompany Claims), and Class 9 (Intercompany Interests) and holders of Impaired Interests in Class 8 (Chisholm Management Equity Interests) are deemed to accept the Plan, are not entitled to vote on the Plan, and will not receive a Ballot.
The ballots upon which Holders of Impaired Claims or Impaired Interests entitled to vote shall (i) cast their vote to accept or reject the Plan, or (ii) if no vote is cast, to accept or reject the release provisions in ARTICLE X of the Plan.
The Class of Impaired Interests would receive no distribution if the Debtors were liquidated.