Preferential Creditor definition

Preferential Creditor means a creditor with a Preferential Claim;
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Preferential Creditor means any person to whom the Company owes a Preferential Liability;
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Preferential Creditor means a person to whom a preferential debt is owed;
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Examples of Preferential Creditor in a sentence

  • These Rules are the AIFC Preferential Creditor Rules 2018 (or PCR).

  • PHL is expected to have no assets with which to make a distribution to HMRC (as second-ranking Preferential Creditor) in respect of the Group VAT liability.

  • CIPFA guidance states that as Local Authorities currently enjoy Preferential Creditor status, then the impairment should be based upon 5.15% at risk.

  • As such, the Estimated Outcome Statement has been updated to show an increased dividend to the Secondary Preferential Creditor.

  • The allocation also maximises the amount available for HMRC as the second-ranking Preferential Creditor.

  • These Rules are the AIFC Preferential Creditor Rules 2019 (or PCR).

  • Mr Willson emphasised that, according to the Estimated Outcome Report, any increase in the recovery of floating charge assets in the “ high case”, and any increase over £93,000 in the “low case”, would go directly to HMRC as Secondary Preferential Creditor.

  • Expected interaction with the intended reintroduction of a significant degree of crown preference in form of the extension of Secondary Preferential Creditor Status, delayed until December.

  • A5.13 Client money distribution rules A5.13.1 This section is referred to as the Client Money Distribution Rules and to the extent that these Rules are inconsistent with part 5.52 of the DIFC Insolvency Regulations, and the DIFC Preferential Creditor Regulations, these Rules will prevail.

  • The Company intends that each Operational Debt, insofar as its Operational Debt has not been discharged outside the Scheme, each Preferential Creditor, insofar as its Preferential Claim has not been discharged outside the Scheme, and the Secured Creditor, insofar as its Secured Claim has not been discharged outside the Scheme, will be paid either by the Company with cash flows received from its operating activities in cash in full outside of the Scheme.


More Definitions of Preferential Creditor

Preferential Creditor means a creditor having a preferential claim;
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Preferential Creditor means any sum which may become due to any person who, in the reasonable opinion of the Lender, may be entitled to receive payment out of floating charge realisations of the assets of the Borrower and/or the Security Obligors in priority to the Lender;
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Preferential Creditor a person with a Claim, which would, if the Company was wound up on the JPLs’ Appointment Date, have been payable out of the assets of the Company pursuant to Section 265 of the Companies (Winding up and Miscellaneous Provisions) Ordinance (Cap. 32)which is subject to adjudication.
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Preferential Creditor means any creditor of the Company whose claim is preferential within the meaning of the Act;
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Preferential Creditor means a creditor having a preferential claim; “prescribed” means prescribed by the Rules and “prescribed form”
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Related to Preferential Creditor

  • Junior Creditor means any Defaulting Bank which has not (x) fully cured each and every default on its part under the Loan Documents and (y) unconditionally tendered to the Administrative Agent such Defaulting Bank’s Pro Rata Share of all costs, expenses and disbursements required to be paid or reimbursed pursuant to the terms of the Loan Documents.

  • operational creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred;

  • Senior Creditor means a holder or holders of Senior Indebtedness and includes any representative or representatives, agent or agents or trustee or trustees of any such holder or holders;

  • Secured Creditor means the Trustee, the Margin Loan Provider and the holders of the ETP Securities.

  • Unsecured Creditor means the holder of an Unsecured Claim.

  • Subordinated Creditor means any creditor of Tenant which is a party to a Subordination Agreement in favor of Landlord.

  • Subordinated Creditors means all creditors the indebtedness of which is subordinated, in the event of the Winding-Up of DSB, in right of payment to the claims of depositors and other unsubordinated creditors of DSB other than those whose claims rank or is expressed to rank by operation of law or contract pari passu with, or junior to, the claims of the Noteholders. For this purpose indebtedness shall include all liabilities, whether actual or contingent;

  • Creditor has the meaning set forth in Section 3.3.

  • Subordinated Claims means the aggregate amount of all claims admitted in the winding up or dissolution of the Issuer which rank, or are expressed to rank, junior to claims in respect of the Senior Non-Preferred Notes or other Senior Non-Preferred Claims, including (without limitation) (i) claims of creditors in respect of the Subordinated Notes and (ii) the obligations of the Issuer which constitute, or would but for any applicable limitation on the amount of such capital constitute, Tier 2 Capital, Additional Tier 1 Capital or CET1 Capital, including, for the avoidance of doubt, all claims in respect of Deferred Shares.

  • 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;

  • Senior Claims means, (a) with respect to the RBL Priority Collateral, each of the First-Priority Lien Obligations secured by such Collateral and, (b) with respect to the Term/Notes Priority Collateral, each of the Second-Priority Lien Obligations secured by such Collateral.

  • Subordinate Liquidation Amount For any Distribution Date and each Loan Group, the excess, if any, of the aggregate Liquidation Principal of Mortgage Loans related to that Loan Group which became Liquidated Mortgage Loans during the prior calendar month over the related Senior Liquidation Amount for that Distribution Date.

  • Junior Subordinate Certificates The Class B-4, Class B-5 and Class B-6 Certificates.

  • financial creditor means any person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred to;

  • Senior Creditors means, (a) depositors of the Issuer, (b) creditors of the Issuer who are unsubordinated creditors of the Issuer, and (c) creditors of the Issuer whose claims are or are expressed to be subordinated to the claims of other creditors of the Issuer (other than those whose claims are in respect of obligations which constitute, or would but for any applicable limitation on the amount of such capital, constitute, Tier 1 capital or Tier 2 capital or whose claims rank or are expressed to rank pari passu with, or junior to, the claims of holders in respect of the Notes) (whether only in a Winding Up of the Issuer or otherwise);

  • Senior Class Debt has the meaning assigned to such term in Section 8.09.

  • Unsecured Creditors means all Creditors with Concurrent Claims against the Company;

  • Second Lien Lenders means the “Lenders” under and as defined in the Second Lien Credit Agreement.

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

  • Second Lien Noteholders means the holders of Second Lien Notes.

  • Subordinated Claim means a Claim of the kind described in sections 726(a)(3) or 726(a)(4) of the Bankruptcy Code and/or Claims subordinated under sections 510(b) or 510(c) of the Bankruptcy Code.

  • Prepetition Lenders means those lenders party to the Prepetition Credit Agreement from time to time.

  • Subordinated Lenders means each and every Person to whom any of the Subordinated Indebtedness are owed.

  • Subordinated Lender means each Seller, in its capacity as subordinated lender pursuant to the relevant Subordinated Loan Agreement.

  • Additional Credit Party means each Person that becomes a Guarantor by execution of a Joinder Agreement in accordance with Section 5.10.