Unsecured Convenience Claim definition

Unsecured Convenience Claim means any Unsecured Claim --------------------------- against any one or more of the Debtors, other than an Intercompany Claim, which is either (i) $15,000 or less in amount or (ii) in excess of $15,000, but whose holder elects to accept $15,000 Cash in full satisfaction of such Claim. Unsecured Convenience Claims are classified in Class 5 in this Plan.
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Unsecured Convenience Claim means an Unsecured Claim (a) in an amount less than or equal to $5,000.00 and the Holder of such Claim has not made the Convenience Class Opt-Out Election, or (b) in an amount greater than $5,000.00 and the Holder of such Claim has agreed to reduce the amount of its Claim to $5,000.00 by making the Convenience Class Opt-In Election.
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Unsecured Convenience Claim means any Unsecured Claim in an amount that is equal to or less than Ten Thousand Dollars ($10,000.00) or that is in a greater amount but is reduced by the Holder thereof on such Holder’s Ballot to Ten Thousand Dollars ($10,000.00).
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Examples of Unsecured Convenience Claim in a sentence

  • If such election is made, the holder of such General Unsecured Convenience Claim shall be deemed a holder of a General Unsecured Claim for all purposes (including voting and distribution).

  • Holders of claims in excess of $15,000 may make an irrevocable written election made on a validly executed and timely delivered ballot to reduce all of such holders General Unsecured Claims to $15,000 in the aggregate and then have such reduced single claim reclassified as a General Unsecured Convenience Claim for all purposes (including voting and distribution).

  • Holders of claims in excess of $15,000 may make an irrevocable written election made on a validly executed and timely delivered ballot to reduce all of such holders' General Unsecured Claims to $15,000 in the aggregate and then have such reduced single claim reclassified as a General Unsecured Convenience Claim for all purposes (including voting and distribution).

  • If such election is made, the Holder of such General Unsecured Convenience Claim shall be deemed a Holder of a Class 3 Claim for all purposes (including voting and distribution).

  • Holders of claims in excess of $15,000 may make an irrevocable written election made on a validly executed and timely delivered ballot to reduce all of such holders of General Unsecured Claims to $15,000 in the aggregate and then have such reduced single claim reclassified as a General Unsecured Convenience Claim for all purposes (including voting and distribution).

  • The holder of each Allowed Unsecured Convenience Claim shall be entitled to receive from the Trust on the later to occur of the Initial Distribution Date or within thirty (30) calendar days after the date the Claim becomes an Allowed Claim, on account of such Claim, Cash in the amount of eighty percent (80%) of such Allowed Unsecured Convenience Claim, subject to, and otherwise in accordance with, Article VI hereof.

  • Pursuant to section 1126 of the Bankruptcy Code, each Holder of an Allowed Class 7 Unsecured Convenience Claim is entitled to vote to accept or reject this Plan.

  • Within thirty (30) calendar days after any Unsecured Convenience Claim or Unsecured Claim that was a Disputed Claim on the Effective Date becomes an Allowed Claim, or such later date as such holder complies with the provisions of Section 11.5 hereof, the Trustee, in accordance with Section 6.8 hereof and with the Trust Agreement, shall distribute from the amounts reserved for such purpose the Cash to which the holder of such Allowed Claim is entitled.

  • An "Other Unsecured Claim" means a Claim that is not an Administrative Claim, General Unsecured Convenience Claim, Intercompany Claim, Other Priority Claim, PBGC Claim, Priority Tax Claim, Prepetition Lender Claim, Prepetition Note Claim, Secured Claim, Subordinated Securities Claim, Trade Vendor/Lease Rejection Claim, or Trust Preferred Obligation.

  • In addition, the rules summarized above with respect to accrued interest and market discount may also apply with respect to the receipt of cash in discharge of a holder's General Unsecured Convenience Claim.


More Definitions of Unsecured Convenience Claim

Unsecured Convenience Claim means any Unsecured Claim in an amount that is equal to or less than ten thousand dollars ($10,000.00).
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Unsecured Convenience Claim means an Unsecured Claim (i) as to which the Allowed Amount of such Claim is less than or equal to $5,000 or (ii) as to which the Allowed Amount of such Claim is greater than $5,000 and the Holder of such Claim has agreed to reduce the Allowed Amount of its Claim to $5,000 and made the Convenience Class Election on its Ballot within the time fixed by the Bankruptcy Court.
Sample 1
Unsecured Convenience Claim means any Unsecured Claim in an amount that is equal to or less than one thousand dollars ($1,000.00) and any Unsecured Claim greater than one thousand dollars ($1,000.00) that is voluntarily reduced by the Holder of such Claim to an amount equal to one thousand dollars ($1,000.00).
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Related to Unsecured Convenience Claim

  • Convenience Claim means a Claim that would otherwise be an Other Unsecured Claim that is

  • Unsecured Claim means any Claim that is not a Secured Claim.

  • 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.

  • General Unsecured Claims means Claims against any Debtor that are not Secured Claims, Administrative Claims, Priority Claims, Professional Compensation Claims, Intercompany Claims, or Equity Interests.

  • Preference Claim As defined in Section 4.02 hereof.

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

  • Cure Claim means a Claim (unless waived or modified by the applicable counterparty) based upon a Debtor’s defaults under an Executory Contract or an Unexpired Lease assumed by such Debtor under section 365 of the Bankruptcy Code, other than a default that is not required to be cured pursuant to section 365(b)(2) of the Bankruptcy Code.

  • Unsecured Creditors means all Creditors with Concurrent Claims against the Company;

  • Secured Claim means a Claim that is secured by a Lien on property in which any of the Debtors’ Estates have an interest or that is subject to setoff under section 553 of the Bankruptcy Code, to the extent of the value of the Claim holder’s interest in such Estate’s interest in such property or to the extent of the amount subject to setoff, as applicable, as determined pursuant to section 506(a) of the Bankruptcy Code or, in the case of setoff, pursuant to section 553 of the Bankruptcy Code.

  • DIP Claim means any Claim arising under, derived from or based upon the DIP Facility or DIP Orders, including the DIP Exit Backstop Premium and the guarantees in respect thereof under the DIP Facility Documents, including Claims for all principal amounts outstanding, interest, fees, expenses, costs, and other charges arising under or related to the DIP Facility.

  • 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.

  • Convenience fee means a fee charged to the cardholder for the convenience to that cardholder of using a particular method of payment in a credit or debit card transaction in accordance with the network regulations governing that transaction.

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

  • Intercompany Claim means any Claim held by a Debtor against another Debtor.

  • Unsecured Creditor means the holder of an Unsecured Claim.

  • AWR Claim means any complaint or claim to a tribunal or court made by or on behalf of the Agency Worker against the Hirer and/or the Employment Business for any breach of the AWR;

  • Intercompany Claims means, collectively, any Claim held by a Debtor against another Debtor or an Affiliate of a Debtor or any Claim held by an Affiliate of a Debtor against a Debtor.

  • 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.

  • Restructuring Claim means any right or claim of any Person against the Participating CCAA Parties (or any one of them) in connection with any indebtedness, liability or obligation of any kind whatsoever owed by the Participating CCAA Parties (or any one of them) to such Person, arising out of the restructuring, disclaimer, resiliation, termination or breach or suspension, on or after the applicable Filing Date, of any contract, employment agreement, lease or other agreement or arrangement, whether written or oral, and whether such restructuring, disclaimer, resiliation, termination or breach took place or takes place before or after the date of the Amended Claims Procedure Order, and, for greater certainty, includes any right or claim of an Employee of any of the Participating CCAA Parties arising from a termination of its employment after the applicable Filing Date, provided, however, that “Restructuring Claim” shall not include an Excluded 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.

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

  • 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.

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