Senior Credit Deficiency Claim definition

Senior Credit Deficiency Claim means any Senior Claim that is not a Secured Claim, the amount of which is stipulated to be $267.2 million solely for purposes of this Plan, and without prejudice to any other position in the event that this Plan is not confirmed.

Senior Credit Deficiency Claim means any Senior Claim to the extent the amount thereof exceeds the amount that is a Secured Claim.

Senior Credit Deficiency Claim means any Senior Claim to the extent the amount thereof exceeds the amount that is a Secured Claim. that is not a Secured Claim, the amount of which is stipulated to be

Examples of Senior Credit Deficiency Claim in a sentence

• Class 4 - General Unsecured Claims (a) Classification: Class 4 consists of all General Unsecured Claims (including but not limited to the Senior Credit Deficiency Claim and the Subordinated Notes Claims).

• To the extent that the actual amount of all other General Unsecured Claims (excluding the Senior Credit Deficiency Claim) varies from the Debtors’ current estimate, the actual Cash distribution will not equal the estimated Cash distribution in the previous sentence due to the fixed stipulated amount of the Senior Credit Deficiency Claim.

• Class 4 - General Unsecured Claims (a) Classification: Class 4 consists of all General Unsecured Claims (including the Senior Credit Deficiency Claim and the Subordinated Notes Claims).

• Class 4 – General Unsecured Claims (a) Classification: Class 4 consists of all General Unsecured Claims (including but not limited to the Senior Credit Deficiency Claim and the Subordinated Notes Claims).

• For purposes of allocating distributions between Holders of Senior Claims and Holders of General Unsecured Claims under the Plan, the value of the secured portion of the Senior Claims has been stipulated at an amount that is the difference between the total Senior Claims and the Senior Credit Deficiency Claim, or approximately $1.8772 billion.

• Senior Credit Deficiency Claim and the Debtors’ current estimate for all other General Unsecured Claims.

• The Debtors estimate that General Unsecured Claims, excluding the Senior Credit Deficiency Claim and the Subordinated Notes Claims, total approximately $26.7 million.

• Based on the Debtors’ current estimate for all other General Unsecured Claims (excluding the Senior Credit Deficiency Claim) of $76.3 million and given the Unsecured Claim Equity Distribution of 10% of the New Common Stock, the implied Senior Credit Deficiency Claim equals $267.2 million [$267.2 million = $76.3 million ÷ 2.22222% × (10% – 2.22222%)].

• The Debtors’ estimate of $26.7 million for General Unsecured Claims, excluding the Senior Credit Deficiency Claim and the Subordinated Notes Claims, includes approximately $4.9 million in estimated Claims arising from the Debtors’ rejection of Executory Contracts and Unexpired Leases.

• In addition, Holders of General Unsecured Claims (including the Lenders’ Senior Credit Deficiency Claim) will receive a Pro Rata share of (a) 10% of the New Common Stock of Reorganized Citadel, subject to dilution on account of the Equity Incentive Program; and (b) $36 million of Cash.