Lease Rejection Claim definition

Lease Rejection Claim means any Unsecured Claim arising from the rejection of a lease of real property in accordance with section 365 of the Bankruptcy Code.
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Lease Rejection Claim means a Claim arising from the rejection of an unexpired
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Lease Rejection Claim means any Claim asserted by or on behalf of a landlord to a lease under which Eagle was a lessee as of or prior to the Petition Date for damages resulting from the termination of such lease of real property.
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Examples of Lease Rejection Claim in a sentence

  • After reviewing the memoranda, he personally researched the points raised in the memoranda, and after discussing the memoranda with counsel for the Remainderman, Mr. Drebsky found the issues raised in the memoranda would not deter settlement of Kmart’s objection to the Lease Rejection Claim.

  • Given that Aztex and the Trustee believed that Aztex obtained the best recovery possible, it is difficult to see why Aztex would be willing to use its own funds to finance and zealously prosecute any litigation against Kmart for the allowance of its Lease Rejection Claim as well as the allowance of approximately an additional $25 million of the deferred basic rent asserted by the Remainderman when the Kmart Settlement provided Aztex with a 97% recovery on its filed claim.

  • Aztex’s counsel had legitimate concerns over the legal issues concerning the various components of the Lease Rejection Claim, including the deferred basic rent, and although Aztex had capped its claim for deferred basic rent, it apparently was an item that Kmart resisted even as capped.

  • To the extent the Remainderman believed that the Lease Rejection Claim was worth more than the amount claimed by Aztex or the Kmart Settlement amount and that any litigation would highly be successful, the Remainderman could have purchased Aztex’s claim against Kmart and pursued litigation on its own.

  • Aztex was represented by competent and experienced bankruptcy counsel in preparing its Lease Rejection Claim and in the negotiations with Kmart.

  • Mr. Drebsky had offered counsel for the Remainderman the right to buy the Lease Rejection Claim at the agreed settlement price of $16,947,571.39 and the Remainderman could pursue the claim itself, thereby protecting Aztex from the downside of any litigation and allowing the Remainderman to take any upside the Remainderman believed the lease rejection claim may be worth.

  • The complexity of the litigation and the attendant expense, inconvenience and delay also favored a settlement of the Lease Rejection Claim.

  • Lastly, it was in the paramount interest of most of the creditors not to delay the resolution of Kmart’s objection to the Lease Rejection Claim.

  • Each holder of a Class 6 Lease Rejection Claim is deemed to have rejected the Plan.

  • Each holder of an Allowed Lease Rejection Claim shall receive its Pro Rata share of the proceeds of the Litigation Trust to be paid after the Deerfield Trust Repayment Distributions.


More Definitions of Lease Rejection Claim

Lease Rejection Claim means any Unsecured Claim arising from the rejection
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Related to Lease Rejection Claim

  • Rejection Claim means a Claim arising from the rejection of an Executory Contract or Unexpired Lease pursuant to section 365 of the Bankruptcy Code.

  • Cure Claim means a Claim (unless waived or modified by the applicable counterparty) based upon a Debtor’s defaults under an Executory Contract or an Unexpired Lease assumed by such Debtor under section 365 of the Bankruptcy Code, other than a default that is not required to be cured pursuant to section 365(b)(2) of the Bankruptcy Code.

  • Claims Objection Bar Date means the deadline for objecting to a Claim, which shall be on the date that is the later of (a) 180 days after the Effective Date and (b) such other period of limitation as may be specifically fixed by the Debtors or the Reorganized Debtors, as applicable, or by an order of the Bankruptcy Court for objecting to Claims.

  • Title Defect Notice shall have the meaning set forth in Section 11.2(a).

  • Claims Objection Deadline means the later of: (a) the date that is 180 days after the Effective Date; and (b) such other date as may be fixed by the Bankruptcy Court, after notice and hearing, upon a motion Filed before the expiration of the deadline to object to Claims or Interests.

  • Claim Objection Deadline means the first Business Day that is 180 days after the Effective Date, as may be extended by order of the Bankruptcy Court.

  • Environmental Defect Notice shall have the meaning set forth in Section 12.1(a).

  • Expected Claim Notice means a notice that, as a result of a legal proceeding instituted by or written claim made by a third party, an Indemnified Party reasonably expects to incur Damages for which it is entitled to indemnification under Article VI.

  • Rejection Notice has the meaning specified in Section 2.05(b)(v).

  • Unresolved Claim means a Claim, which at the relevant time, in whole or in part: (a) has not been Finally Determined to be a Proven Claim in accordance with the Amended Claims Procedure Order and this Plan; (b) is validly disputed in accordance with the Amended Claims Procedure Order; and/or (c) remains subject to review and for which a Notice of Allowance or Notice of Revision or Disallowance (each as defined in the Amended Claims Procedure Order) has not been issued to the Creditor in accordance with the Amended Claims Procedure Order as at the date of this Plan, in each of the foregoing clauses, including both as to proof and/or quantum;

  • Defect Notice shall have the meaning specified in Section 3.2 of this Agreement.

  • Rejection means a process through which Clearing Corporation would convey the inability of itself and / or Settlement Bank and / or the CLS Bank to accede to a Member’s request for processing a Trade.

  • Title Defect means with respect to a Lease any lien, encumbrance, adverse claim, default, expiration, failure, defect in or objection to real property title, other than Permitted Encumbrances, that alone or in combination with other defects renders Sellers’ title to the Lease less than Defensible Title.

  • Rejection Damages Claim means any Claim on account of the rejection of an Executory Contract or Unexpired Lease pursuant to section 365 of the Bankruptcy Code.

  • Indemnity Claim has the meaning set forth in Section 8.3.

  • Contested Claim means any Tax, Indebtedness or other claim or liability (i) the validity or amount of which is being diligently contested in good faith, (ii) for which adequate reserve, or other appropriate provision, if any, as required in conformity with GAAP shall have been made, and (iii) with respect to which any right to execute upon or sell any assets of the Company or of any of its Subsidiaries has not matured or has been and continues to be effectively enjoined, superseded or stayed.

  • Approved Claim means the timely submitted Claim Form by a Participating Settlement Member that has been approved by the Settlement Administrator.

  • Plan Objection Deadline means the date the Bankruptcy Court establishes as the deadline to File an objection to Confirmation of the Plan.

  • Title Objection shall have the meaning assigned thereto in Section 8.5.

  • Warranty Claim means any claim for breach of Warranty;

  • Litigation Claims means the claims, rights of action, suits or proceedings, whether in law or in equity, whether known or unknown, that any Debtor or any Estate may hold against any Person or Entity, including, without limitation, the Causes of Action of the Debtors or their Estates, in each case solely to the extent of the Debtors’ or their Estates’ interest therein. A non-exclusive list of the Litigation Claims held by the Debtors as of the Effective Date will be Filed with the Plan Supplement, which will be deemed to include any derivative actions filed against any Debtor as of the Effective Date.

  • Deficiency Claim Date means, with respect to any Distribution Date, the fourth Business Day immediately preceding such Distribution Date.

  • Environmental Defect Value means, with respect to any Environmental Defect, the value, as of the Closing Date, of the estimated costs and expenses to correct such Environmental Defect in the most cost-effective manner reasonably available, consistent with Environmental Laws, taking into account that non-permanent remedies (such as mechanisms to contain or stabilize hazardous materials, including monitoring site conditions, natural attenuation, risk-based corrective action, institutional controls or other appropriate restrictions on the use of property, caps, dikes, encapsulation, leachate collection systems, etc.) may be the most cost-effective manner reasonably available.

  • AWR Claim means any complaint or claim to a tribunal or court made by or on behalf of the Agency Worker against the Hirer and/or the Employment Business for any breach of the AWR;

  • Environmental Defect means, with respect to any given Asset, a material violation of Environmental Laws in effect as of the Effective Time in the jurisdiction in which such Asset is located.