Preferred Claims definition

Preferred Claims means any liabilities of the Borrower which for whatever reason would have priority over the Lenders for payment in the event of insolvency of the Borrower including, without limitation, purchase money security interests, statutory liens and crown priority claims for unpaid taxes and Liens under the Woodworker Lien Act.

Preferred Claims means any Claims by Preferred Creditors;

Preferred Claims means, at any time, all Liens or claims created by, or arising under any statute or regulation or arising under common law without the consent of the Borrowers (in contrast with Liens voluntarily granted) which rank, or are capable of ranking, prior to or pari passu with the Liens created by the Security Documents against all or any part of the Borrowers’ assets, whether then existing or, in the Administrative Agent’s judgment acting reasonably, likely to arise, including claims for unremitted rents, Taxes, wages, vacation pay, employee deductions, workers’ compensation obligations, government royalties or pension fund obligations. (176) “Prime Loan” means a Loan denominated in Canadian Dollars in respect of which the Borrowers are obligated to pay interest in accordance with Section 4.1. (177) “Prime Rate” means, with respect to a Prime Loan, on any day the greater of:

Examples of Preferred Claims in a sentence

• Within thirty (30) Business Days following the granting of the Approval Order, the Preferred Claims, if any, will be paid in full by the Proposal Trustee.

• Notwithstanding any other provision of the Plan, for purposes of the subordination of the Trust Preferred Claims to the Lender Group Claims, interest on the Lender Group Claims (whether pre-petition, post-petition or post-Confirmation) shall accrue at the applicable non-default contract rate set forth in the Credit Agreement through the Effective Date and at six percent (6%) from the Effective Date through the date that the Lender Group Claims are paid in full.

• Preferred Claims that are Proven Claims will be paid in priority to Unsecured Claims.

• However, all Former Employee wages have been paid by the Company, and accordingly, the Company calculates the value of the Preferred Claims to be zero.

• Holders of Class 3C Claims owned 2,300,000 Trust Preferred Claims as of the Commencement Date.

More Definitions of Preferred Claims

Preferred Claims has the meaning set forth in Section 3.1(a).

Preferred Claims means that portion of a Claim that is accepted by the Proposal Trustee as entitling the Preferred Creditor to receive payment in priority to other Proven Creditors as provided in section 136 of the Act.

Preferred Claims means the aggregate amount of claims ranking prior to the Lien of the Collateral Documents on Eligible Receivables such as, but not limited to:

Preferred Claims has the meaning attributed thereto in Section 6.1.18.

Preferred Claims means, at any time, all Liens or claims created by, or arising under any statute or regulation or arising under common law without the consent of the Borrowers (in contrast with Liens voluntarily granted) which rank, or are capable of ranking, prior to or pari passu with the Liens created by the Security Documents or Security Documents (Lithia Canada Dealer) against all or any part of the Borrowers’ assets, whether then existing or, in the Administrative Agent’s judgment acting reasonably, likely to arise, including claims for unremitted rents, Taxes, wages, vacation pay, employee deductions, workers’ compensation obligations, government royalties or pension fund obligations. (209) (192) “Prime Loan” means a Loan denominated in Canadian Dollars in respect of which the Borrowers are obligated to pay interest in accordance with Section 4.1. (210) (193) “Prime Rate” means, with respect to a Prime Loan, on any date of determination the greater of:

Preferred Claims means the aggregate amount of all claims admitted in the winding up or dissolution of the Issuer which are claims of creditors in respect of Secondary Non-Preferential Debts of the Issuer;

Preferred Claims means, at the time of determination, the total amount accrued to such time of any statutory rights, claims and preferences, which have or may have priority over the Security, including any right, claim or preference under the following federal statutes: