Prepetition Lender Secured Claims definition

Prepetition Lender Secured Claims means the secured portion of the Prepetition Loan Agreement Claims, which shall be Allowed in the amount of no less than $24,000,000.
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Prepetition Lender Secured Claims means the claims of the Prepetition Agent and the Prepetition Lenders based upon, evidenced by, arising under or related to the Prepetition Credit Agreement estimated to include, without limitation, (i) outstanding principal amount of term loans of US $76,659,696.92, (ii) outstanding principal amount of revolving loans of US $23,400,000, (iii) the outstanding letter of credit exposure of US $50,000 and CAD $1,000,000, (iv) the outstanding amount under hedge agreements of $1,605,478.79, plus (v) all interest, fees and costs thereunder, all as may be Allowed by the Bankruptcy Court.
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Prepetition Lender Secured Claims means the Secured Claim of OMTAMMOT, LLC, in the current estimated amount of not less than approximately $6.25 million, plus additional interest and fees.
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Examples of Prepetition Lender Secured Claims in a sentence

  • Generally, a U.S. holder’s adjusted tax basis in its Prepetition Lender Secured Claims will be equal to the cost of the Prepetition Lender Secured Claims to such U.S. holder, increased by any OID previously included in income.

  • If applicable, a U.S. holder’s tax basis in the Prepetition Lender Secured Claims also will be (i) increased by any market discount previously included in income by such U.S. holder pursuant to an election to include market discount in gross income currently as it accrues, and (ii) reduced by any cash payments received on the Prepetition Lender Secured Claims other than payments of qualified stated interest, and by any amortizable bond premium that the U.S. holder has previously deducted.

  • In the case of a taxable exchange, a U.S. holder’s tax basis in the New Equity Interest received in respect of its Prepetition Lender Secured Claims on the Effective Date should equal the issue price of the fair market value of the New Equity Interest on the Effective Date.

  • However, a holder of the Prepetition Lender Secured Claims generally would still have to recognize gain (computed as described in the following section), if any, to the extent of the amount of any cash received.

  • In general, to the extent that the exchange of the Prepetition Lender Secured Claims is a fully taxable exchange, the exchanging U.S. holder should recognize gain or loss in an amount equal to the difference, if any, between (i) the sum of the fair market value of the New Equity Interest and (ii) the U.S. holder’s adjusted tax basis in the portion of the Prepetition Lender Secured Claims exchanged therefor (other than any tax basis attributable to accrued but unpaid interest and possibly accrued OID).

  • A U.S. holder’s holding period in the New Equity Interest received will include its holding period in the loan underlying the Prepetition Lender Secured Claims exchanged therefor, except to the extent of any exchange consideration received in respect of accrued but unpaid interest and possibly accrued original issue discount (“OID”).

  • In a reorganization exchange, the U.S. holder’s aggregate tax basis in the New Equity Interest received will equal such U.S. holder’s aggregate adjusted tax basis in the Prepetition Lender Secured Claims exchanged therefor, increased by any gain or interest income recognized in the exchange, and decreased by any deductions claimed in respect of any previously accrued but unpaid interest and the amount of any cash received.

  • If the debt underlying the Prepetition Lender Secured Claims constitutes a security, ORX Resources New Equity Interest may qualify for tax treatment as a “recapitalization reorganization”.

  • However, if the debt underlying the Prepetition Lender Secured Claims does not constitutes a security, then the receipt of the ORX Resources New Equity Interest may be a fully taxable exchange.

  • The Allowed Prepetition Lender Secured Claims shallbe Allowed as Secured Claims in the amount no less than [$ ] against each of the Debtors.


More Definitions of Prepetition Lender Secured Claims

Prepetition Lender Secured Claims means the secured portion of the Prepetition Loan Agreement Claims, which shall be Allowed in the amount of $42,583,523.65 against the Debtors.
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Prepetition Lender Secured Claims means any Claims arising under the Prepetition Credit Facilities.
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Prepetition Lender Secured Claims means the portion of the Prepetition Lender Claims that are Secured Claims against Camelot pursuant to Section 506(a) of the Bankruptcy Code.
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Related to Prepetition Lender Secured Claims

  • Prepetition Lenders means the Persons identified as "Lenders" under the Prepetition Credit Agreement, in their capacities as lenders under the Prepetition Credit Agreement, together with their successors and permitted assigns.

  • 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;

  • Term Loan Claims means the Claims arising in respect of the term facility under the Credit Agreement.

  • 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.

  • Other Secured Claims means any Secured Claim against the Debtors that is not an Administrative

  • 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.

  • 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.

  • Prepetition Loan Documents means the “Loan Documents” as defined in the Prepetition Credit Agreement, in each case as amended, supplemented, or modified from time to time prior to the Petition Date.

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.

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

  • Senior Lender Claims means (a) the principal of all Indebtedness outstanding under one or more of the Senior Lender Documents to the extent not prohibited by the Indenture (as in effect on the date hereof), and (b) all other Obligations not constituting principal of Indebtedness of any Obligor under the Senior Lender Documents, including, without limitation, all claims under the Senior Lender Documents for interest, fees, expense reimbursements, indemnification and other similar claims. Senior Lender Claims shall include all interest accrued or accruing (or which would, absent the commencement of an Insolvency or Liquidation Proceeding, accrue) after the commencement of an Insolvency or Liquidation Proceeding in accordance with and at the rate specified in the Senior Credit Agreement whether or not the claim for such interest is allowed as a claim in such Insolvency or Liquidation Proceeding. To the extent any payment with respect to the Senior Lender Claims (whether by or on behalf of any Obligor, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be fraudulent or preferential in any respect, set aside or required to be paid to a debtor in possession, trustee, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred. Notwithstanding anything to the contrary contained in the first sentence of this definition, any principal Indebtedness (including reimbursement obligations for drawn or undrawn letters of credit) incurred under the Senior Credit Agreement shall constitute a "Senior Lender Claim" (whether or not such Indebtedness is at any time determined not to have been permitted to be incurred under the Indenture), to the extent, after giving effect to such incurrence, the aggregate principal amount of Indebtedness outstanding under the Senior Credit Agreement does not exceed $15,000,000 (less any prior permanent reductions in the Revolving Loan Commitment).

  • Prepetition Secured Parties means the “Secured Parties” under, and as defined in, the Prepetition Credit Agreement, in each case as amended, modified or supplemented through the Petition Date.

  • Second Lien Lenders means the “Lenders” under and as defined in the Second Lien Credit Agreement.

  • DIP Lenders has the meaning assigned to such term in Section 2.05(b).

  • Prepetition Credit Agreement has the meaning specified in the recitals hereto.

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

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

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

  • Other Secured Claim means any Secured Claim other than an Administrative Claim, Secured Tax Claim, DIP Facility Claim, or Prepetition Credit Agreement Claim.

  • Second Lien Noteholders means the holders of Second Lien Notes.

  • 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 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.

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

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

  • 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.