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.

  • 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 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 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.

  • 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 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 proceedsfrom the sale of the Prepetition Collateral and any Prepetition Collateral, including, among other things, the Posted Collateral, subject to Other Secured Claims.

  • Prepetition Collateral” means the collateral securing the Prepetition BP Secured Claim, including, without limitation, the Posted Collateral.

  • 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 bedistributed to BP on account of the Prepetition BP Secured Claim upon disallowance of such Priority Tax 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.

Related to Prepetition BP Secured Claim

  • Secured Claim means a Claim: (a) secured by a valid, perfected, and enforceable Lien on collateral to the extent of the value of such collateral, as determined in accordance with section 506(a) of the Bankruptcy Code or (b) subject to a valid right of setoff pursuant to section 553 of the Bankruptcy Code.

  • Allowed Secured Claim means all or that portion of a Secured Claim which is an Allowed Claim.

  • 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;

  • Superpriority Claim means a claim against the Borrower and any Guarantor in any of the Cases which is an administrative expense claim having priority over any or all administrative expenses of the kind specified in Sections 503(b) or 507(b) of the Bankruptcy Code.

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

  • Unsecured Claim means a Claim that is not an Administrative Claim, a Priority Tax Claim, a Priority Claim, or a Secured Claim.

  • Priority Claim means a Claim that is entitled to priority in payment pursuant to section 507(a) of the Bankruptcy Code that is not an Administrative Claim or a Priority Tax Claim.

  • DIP Facility Claims means all Claims held by the DIP Facility Agent and the DIP Facility Lenders pursuant to the DIP Facility Agreements and the Final DIP Order.

  • Allowed Unsecured Claim means all or that portion of an Unsecured Claim which is an Allowed Claim.

  • DIP Claim means a Claim of the DIP Agent or DIP Lenders arising under the DIP Credit Agreement or any of the DIP Orders, including Claims for payment of DIP Expenses.

  • 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.

  • Priority Claims means, collectively, Priority Tax Claims and Other Priority Claims.

  • Unsecured Claims means claims which are not secured by any property of the Debtor’s Estate and which are not part of any other class defined in this Plan.

  • 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.

  • 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) claims of creditors in respect of the Subordinated Notes, and 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 (including, without limitation, the Issuer’s permanent interest bearing shares (if any)) or CET1 Capital (including the Issuer’s core capital deferred shares (if any)); and

  • Noteholder Claims means all Obligations in respect of the Notes or arising under the Noteholder Documents or any of them, including all fees and expenses of the Trustee thereunder.

  • Prepetition means arising or accruing prior to the Petition Date.

  • Administrative Claim means a Claim for costs and expenses of administration of the Chapter 11 Cases pursuant to 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 until and including the Effective Date of preserving the Estates and operating the Debtors’ businesses; (b) Allowed Professional Fee Claims; and (c) all payments afforded administrative expense treatment under the Backstop Agreement.

  • 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.

  • Other Priority Claims 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.

  • DIP Claims means, collectively, the DIP ABL Claims and the DIP Term Loan Claims.

  • Senior Notes Claim means a Claim arising under or as a result of the Senior Notes.

  • General Unsecured Claims means any unsecured claim (other than an Administrative Claim, a Priority Tax Claim, an Other Priority Claim, a Prepetition Term Loan Claim, or an Intercompany Claim) against one or more of the Debtors including (a) Claims arising from the rejection of Unexpired Leases and Executory Contracts to which a Debtor is a party, and (b) Claims arising from any litigation or other court, administrative or regulatory proceeding, including damages or judgments entered against, or settlement amounts owing by a Debtor related thereto.

  • Administrative Claims means (i) Claims that have been timely filed before the Administrative Claim Bar Date, pursuant to the deadline and procedure set forth in the Confirmation Order (except as otherwise provided by a separate order of the Bankruptcy Court), for costs and expenses of administration under sections 503(b), 507(b), or 1114(e)(2) of the Bankruptcy Code, including, without limitation: the actual and necessary costs and expenses incurred after the Petition Date of preserving the Estates and operating the businesses of the Debtors (such as wages, salaries, or commissions for services and payments for goods and other services and leased premises), (ii) Twenty Day Claims, and (iii) Claims timely asserted for stub rental payments under the Debtors’ leases. Any fees or charges assessed against the Estates 1 All capitalized terms not otherwise defined herein shall be subject to the definition of such capitalized terms in Article I.A. hereof. under section 1930 of chapter 123 of title 28 of the United States Code are excluded from the definition of Administrative Expense Claim and shall be paid in accordance with Article V.M of the Plan. Notwithstanding anything to the contrary herein, the filing of an Administrative Claim shall not be required in order to receive payment for any tax liability described in sections 503(b)(1)(B) and (C) in accordance with section 503(b)(1)(D) of the Bankruptcy Code.

  • Allowed Claim means an Allowed Claim of the type described.

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