Prepetition BP Secured Claim definition

Prepetition BP Secured Claim means all obligations owed by the Debtors to BP under the Prepetition BP Secured Loan Documents.
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Examples of Prepetition BP Secured Claim in a sentence

  • Any amounts remaining in the Professional Fee Escrow Account after all Allowed Professional Fee Claims are paid shall become available for Distribution to holders of Prepetition BP Secured Claim.

  • If BP receives Distributions under the Plan that exceed the Allowed amount of the Prepetition BP Secured Claim before holders of General Unsecured Claims are paid in full, BP shall remit any such excess amount to the Liquidation Trust, and such amounts shall constitute Liquidation Trust Assets.

  • Except with respect to the GUC Budget Excess, any amounts reserved to satisfy Professional Fee Claims that are ultimately Disallowed shall remain collateral securing the Prepetition BP Secured Claim and shall be distributed to BP on account of the Prepetition BP Secured Claim upon disallowance of such Professional Fee Claims.

  • Except with respect to the GUC Budget Excess, any amounts reserved to satisfy Non-Tax Priority Claims that are ultimately Disallowed shall remain collateral securing the Prepetition BP Secured Claim and shall be distributed to BP on account of the Prepetition BP Secured Claim upon disallowance of such Non-Tax Priority Claims.

  • Except with respect to the GUC Budget Excess, any amounts reserved to satisfy Priority Tax Claims that are ultimately Disallowed shall remain collateral securing the Prepetition BP Secured Claim and shall be distributed to BP on account of the Prepetition BP Secured Claim upon disallowance of such Priority Tax Claims.

  • Each holder of an Allowed Prepetition BP Secured Claim shall receive on the Effective Date, or as soon as reasonably practicable thereafter, all of the following, but not including cash in an amount necessary to pay or reserve for the Confirmation Amount: the return of proceeds from the sale of the Prepetition Collateral and any Prepetition Collateral, including, among other things, the Posted Collateral, subject to Other Secured Claims.

  • Except with respect to the GUC Budget Excess, any amounts reserved to satisfy Administrative Expense Claims that are ultimately Disallowed shall remain collateral securing the Prepetition BP Secured Claim and shall be distributed to BP on account of the Prepetition BP Secured Claim upon disallowance of such Administrative Expense Claims.

  • In no event shall BP receive Distributions under the Plan that exceed the aggregate Allowed amount of the Prepetition BP Secured Claim unless holders of General Unsecured Claims have been paid in full.

  • Each holder of an Allowed Prepetition BP Secured Claim shall receive on the Effective Date, or as soon as reasonably practicable thereafter, all of the following, but not including cash in an amount necessary to pay or reserve for the Confirmation Amount: the return of proceedsfrom the sale of the Prepetition Collateral and any Prepetition Collateral, including, among other things, the Posted Collateral, subject to Other Secured Claims.

  • Except with respect to the GUC Budget Excess, any amounts reserved to satisfy Administrative Expense Claims that are ultimately Disallowed shall remain collateral securing the Prepetition BP Secured Claim and shall be distributed to BP onaccount of the Prepetition BP Secured Claim upon disallowance of such Administrative Expense Claims.

Related to Prepetition BP Secured Claim

  • Secured Claim means a Claim that is secured by a Lien on property in which any of the Debtors’ Estates have an interest or that is subject to setoff under section 553 of the Bankruptcy Code, to the extent of the value of the Claim holder’s interest in such Estate’s interest in such property or to the extent of the amount subject to setoff, as applicable, as determined pursuant to section 506(a) of the Bankruptcy Code or, in the case of setoff, pursuant to section 553 of the Bankruptcy Code.

  • DIP Facility Claim means a Claim arising under or as a result of the DIP Facility.

  • Unsecured Claim means any Claim that is not a Secured Claim.

  • 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.

  • General Unsecured Claim means any Claim that is not a/an: Administrative Claim; DIP Facility Claim; Professional Fee Claim; Priority Tax Claim; Secured Tax Claim; Other Priority Claim; Other Secured Claim; Intercompany Claim; Prepetition Debt Claim; or 510(b) Equity Claim.

  • Administrative Claim means a Claim for costs and expenses of administration of the Estates under sections 503(b), 507(a)(2), 507(b), or 1114(e)(2) of the Bankruptcy Code, including: (a) the actual and necessary costs and expenses incurred on or after the Petition Date of preserving the Estates and operating the businesses of the Debtors; (b) Allowed Professional Fee Claims in the Chapter 11 Cases; and (c) all fees and charges assessed against the Estates under chapter 123 of title 28 of the United States Code, 28 U.S.C. §§ 1911-1930.

  • Other Priority Claim means any Claim other than an Administrative Claim or a Priority Tax Claim entitled to priority in right of payment under section 507(a) of the Bankruptcy Code.

  • Tax Claim has the meaning set forth in Section 6.05.