Secured Term Loan Claim definition

Secured Term Loan Claim means the portion of a Term Loan Claim that is a Secured Claim.

Secured Term Loan Claim means any and all Claims derived from, arising under, based upon, related to, or secured pursuant to the Secured Term Loan Credit Agreement or any related security agreements, collateral agreements, pledge agreements, control agreements and guarantees referred to therein, including all Claims in respect of principal amounts outstanding, interest, fees, premiums, expenses, costs, reimbursement obligations, hedging obligations, and other charges arising thereunder or related thereto, in each case, with respect to the Secured Term Loans.

Examples of Secured Term Loan Claim in a sentence

• On the Effective Date, except to the extent that a holder of an Allowed Secured Term Loan Claim agrees to a less favorable treatment, in full and final satisfaction, compromise, settlement, release, and discharge of and in exchange for each Secured Term Loan Claim, each holder of an Allowed Class 4 Claim shall receive its Pro Rata share of the Secured Term Loan Claim Recovery.

• The court will often conduct this mini-bail study pending ISC’s formal bail study.

• Secured Term Loan Claim means any Claim arising under the Secured Term Loan Agreement, the Term Loan Notes (as defined in the Secured Term Loan Agreement) and the Collateral Documents (as defined in the Secured Term Loan Agreement), including any unsecured Claim pursuant to section 506 of the Bankruptcy Code.

• If the Holding First Lien Secured Term Loan Claims and the Modified Term Loan Notes are both treated as “securities” for U.S. federal income tax purposes, the exchange of a Holding First Lien Secured Term Loan Claim for the Modified Term Loan Notes would be treated as a “recapitalization” for U.S. federal income tax purposes.

• A U.S. Holder’s combined tax basis in any Secured Term Loan Claim Recovery received should equal the fair market value of such Secured Term Loan Claim Recovery as of the date such Secured Term Loan Claim Recovery is distributed to the holder.

• Based on the terms to maturity of the Senior Secured Term Loan and the New Term Loan Obligations, it is uncertain whether the Senior Secured Term Loan and the New Term Loan Obligations would be treated as securities for federal income tax purposes.If the Senior Secured Term Loan and the New Term Loan Obligations are not treated as securities for federal income tax purposes, a U.S. Holder of a Senior Secured Term Loan Claim will generally recognize gain or loss on the exchange.

• Pursuant to the Plan, except to the extent that a U.S. Holder of an Allowed Secured Term Loan Claim agrees to a less favorable treatment in exchange for full and final satisfaction, settlement, release and discharge of such Claim, each U.S. Holder of an Allowed Secured Term Loan Claim shall receive a Pro Rata distribution of the Secured Term Loan Claim Recovery.

• Such materials may not be relied upon or used for any purpose other than to vote to accept or reject the Plan.If you are the holder of a Senior Secured Term Loan Claim, Senior Secured Revolving Loan Claim or Subordinated Note, please complete, execute and return your Ballot(s) to the Voting Agent on or before the Voting Deadline.

• Such U.S. Holders will be treated as exchanging such Allowed Secured Term Loan Claims for Secured Term Loan Claim Recovery, in a taxable exchange under section 1001 of the Tax Code.

• On the Effective Date, each Holder of a Holding First Lien Secured Term Loan Claim shall have its Claim Reinstated: provided, however, that if the First Lien Lenders forbear from exercising remedies against non-Debtor guarantors under the Holding First Lien Secured Term Loan during the pendency of these Chapter 11 Cases, the terms of the Holding First Lien Secured Term Loan will be modified substantially on the terms as described in the Elective Term Loan Treatment Summary attached hereto as Appendix G.