Preferred Creditors definition

Preferred Creditors means Creditors with Proven Claims and which are, subject to the rights of Secured Creditors, required by the BIA to be paid in priority to all other Claims under a proposal made by a debtor and including, without limitation, the Required Employee Amount (for greater certainty a Person can be both a Preferred Creditor and an Unsecured Creditor in respect of distinct Claims), and “Preferred Creditor” means each of them;

Preferred Creditors means those persons with Claims that are Preferred Claims.

Preferred Creditors means Creditors with Proven Claims that are proven and which are required by the BIA to be paid in priority to all other Claims under a proposal made by a debtor and including, without limitation:

Examples of Preferred Creditors in a sentence

• Preferred Creditors under Irish Law and Floating Charges Under Irish law, upon an insolvency of an Irish company such as the Issuer, when applying the proceeds of assets subject to fixed security which may have been realized in the course of a liquidation or receivership, the claims of a limited category of preferential creditors will take priority over the claims of creditors holding the relevant fixed security.

• Within 30 days of the Effective Date, all proper fees and expenses of the Trustee and reasonable legal and other professional fees on and incidental the proceedings arising out of this Proposal and in connection with the preparation of this Proposal and in the administration of this Proposal, including advice to the Corporation in connection therewith, will be paid in priority to all Claims of Preferred Creditors and Unsecured Creditors.

• On the Implementation Date, the Proven Claims of all Preferred Creditors, if any, shall be paid, in priority to the Claims of other Unsecured Creditors in accordance with section 136 of the BIA, including the Proven Claims of all employees or former employees for all amounts provable as described in subsection 60(1.3) ofthe BIA which, ifany, shall be paid immediately after the Court Approval Date.

• PREFERRED CREDITORS The claims of Preferred Creditors shall be paid in-full in priority to payments under the Proposal to the Ordinary Creditors.

• There are no claims filed by Preferred Creditors in the bankruptcy estate, therefore, it is anticipated that there will not be any claims by Preferred Creditors in this Proposal.

More Definitions of Preferred Creditors

Preferred Creditors means Creditors that, under the applicable law, have special rights to have its Claims settlement prioritized relative to all other Creditors as set out in Article 4.2 namely:

Preferred Creditors means those persons with Claims that are provable and proved under the BIA and which are required by Section 136 of the BIA to be paid in priority to the Claims of Ordinary Unsecured Creditors;

Preferred Creditors means Creditors with Proven Claims that are required by the BIA to be paid in priority to all other claims under a proposal made by a debtor save and except for Employee Creditors and Source Deduction Creditors.

Preferred Creditors means Unsecured Creditors that are required by the Act to be paid in priority to all other claims under a proposal made by a debtor save and except for Employee Creditors and Crown Creditors.

Preferred Creditors means those persons with Claims against the Debtor provable pursuant to the BIA as of the Filing Date whose claims are entitled to be paid in priority to the claims on Unsecured Creditors as provided in Section 136 of the BIA.

Preferred Creditors means the Unsecured Creditors that are required to be paid in priority to all other unsecured claims under a proposal made by a debtor pursuant to the BIA; DOC#10533106v5- 4 -

Preferred Creditors means all those Creditors of the Insolvent Person defined in Article 8.6 hereof;