Preferred Creditor definition

Preferred Creditor means the Person holding a Preferred Claim, with respect to and to the extent of such Preferred Claim;

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Preferred Creditor means a Creditor with a Proven Claim that is required by the Act to be paid in priority to other Claims under a proposal made by a debtor and including, without limitation:

Preferred Creditor means any Creditor entitled to receive payment of any amount owed to it in priority to other Creditors as provided in s. 136 of the BIA;

Examples of Preferred Creditor in a sentence

• All of the Preferred Creditor Equity which exists as of the date of this Agreement, and each of the agreements or other documents entered into and/or setting forth the terms, rights and restrictions applicable to any such Preferred Creditor Equity, are listed and described on SCHEDULE 7.1(B) attached hereto.

• The Agent acknowledges that (i) none of the Preferred Equity which exists as of the date of this Agreement constitutes Preferred Creditor Equity and (ii) no subsequently issued Preferred Equity which is issued on substantially the same terms (including that it contains no terms of the nature described in clauses (i) and (ii) above), and which is substantially similar in form and substance, to the Preferred Equity which exists as of the date of this Agreement shall constitute Preferred Creditor Equity.

• Preferred Creditor - A priority claimed by a creditor over others.

• All Trust Preferred Creditor Claims will be paid in full (i.e., par plus accrued interest) with a combination of 10 million shares of New Common Stock (valued at $45 per share) and a total of $28 million in cash.

More Definitions of Preferred Creditor

Preferred Creditor means a Creditor with a Preferred Claim;

Preferred Creditor means a Creditor of the Company having a Preferred Claim.

Preferred Creditor means all or any of the following persons:

Preferred Creditor means a Creditor having a Preferred Claim;

Preferred Creditor means an unsecured creditor whose Claim the Act directs be paid in priority to all other Claims on a proposal made by a debtor, after payment of the Administrative Fees and Expenses, from the funds available for distribution to Unsecured Creditors;

Preferred Creditor means a creditor receiving a preferential right to payment as envisaged in Insolvency Act other than the Receiver of Revenue.

Preferred Creditor means any Unsecured Creditor holding a Preferred Claim, solely in respect to that Preferred Claim;