Term Loan Deficiency Claim definition

Term Loan Deficiency Claim means a Term Loan Claim that is not a Secured Claim, which Term Loan Deficiency Claim shall be, subject to the occurrence of the Effective Date, waived pursuant to the Plan.

Term Loan Deficiency Claim means any portion of the Term Loan Debt consisting of an allowed unsecured claim under Section 506(a) of the Bankruptcy Code (or any similar provision under any other law governing an Insolvency Proceeding).

Term Loan Deficiency Claim means any portion of a Term Loan Claim constituting an unsecured claim under section 506(a) of the Bankruptcy Code.

Examples of Term Loan Deficiency Claim in a sentence

• The remaining Claims of the Term Loan Lenders, if any, shall constitute the Term Loan Deficiency Claim and shall be classified in Class 6 but shall not be entitled to receive any distributions on account of such Claims.

• The Creditors’ Committee and certain other creditors assert that the Plan improperly classifies the Term Loan Deficiency Claim with Other General Unsecured Claims.

• Based on applicable law and the nature of the claims, the Debtors dispute that assertion and believe that the Term Loan Deficiency Claim can be classified with Other General Unsecured Claims and will be prepared to demonstrate the same at the confirmation hearing.

• General Unsecured Claim included any Claim, including the Term Loan Deficiency Claim and the Unsecured Note Claim, other than (a) an Administrative Claim, (b) a Secured Tax Claim, (c) an Other Secured Claim, (d) a Priority Tax Claim, (e) an Other Priority Claim, (f) a Term Loan Secured Claim, (g) a Critical Trade Claim, (h) an Intercompany Claim, or (i) a DIP 303 Id. at 21.

• Following extensive negotiations, the Debtors, Creditors’ Committee and FIE have reached a Global Settlement of all issues among the parties, including, without limitation, the Contested Issues, on account of which FIE has agreed to fund the GUC Cash Pool and, among other things, waive any Distributions from the Liquidating Trust on account of the Prepetition Term Loan Deficiency Claim or any other Claim.

More Definitions of Term Loan Deficiency Claim

Term Loan Deficiency Claim means that portion of the Claim asserted by the Term Loan Agent for the benefit of the Term Loan Lenders, as may be Allowed, consisting of the difference between the Term Loan Secured Claim and the aggregate recovery of the Term Loan Agent (or its subrogee, Investcorp Bank) from the liquidation and/or sale of the Prepetition Term Collateral. For the avoidance of doubt, to the extent the Term Loan Agent draws on the Term Loan Letter of Credit, pursuant to Paragraph 4 of the Term Loan L/C Agreement, Investcorp Bank shall be subrogated to rights of the Term Loan Agent with respect to the Term Loan Deficiency Claim on a dollar for dollar basis with respect to the full amount drawn on the Term Loan Letter of Credit by the Term Loan Agent.

Term Loan Deficiency Claim means any Term Loan Claim, or portion thereof, that is not Secured.

Term Loan Deficiency Claim means any Term Loan Claim that is not a Secured Claim.

Term Loan Deficiency Claim means the unsecured Claims on account of the indebtedness under the Prepetition First Lien Credit Agreement under section 506(a) of the Bankruptcy Code (if any).

Term Loan Deficiency Claim means any Term Loan Claim that is not a SecuredClaim.

Term Loan Deficiency Claim means any portion of a Term Loan Claim constituting an

Term Loan Deficiency Claim means, with respect to the Term Loan Facility, any portion of the obligations arising under, derived from, based upon, or related to the Term Loan Documents that neither constitutes an Administrative Claim nor is satisfied by the Term Loan Lender Distribution. For the avoidance of doubt, the Term Loan Deficiency Claim, if any, shall be deemed waived and shall not be treated as a General Unsecured Claim.