Unsecured Convenience Claim definition

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 --------------------------- 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.
Sample 1
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).
Sample 1

Examples of Unsecured Convenience Claim in a sentence

  • In the results reported here, the same appliance set has been applied to all households.

  • 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).

  • Any general unsecured creditor may, through its Ballot, elect to waive its General Unsecured Claim, and instead obtain payment as a General Unsecured Convenience Claim holder.

  • 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).

  • All Class 6 Claims that resulted from the election of a holder of a General Unsecured Claim to be paid as a General Unsecured Convenience Claim will receive $2,000.00 total, without interest.

  • Each holder of an Allowed Unsecured Convenience Claim shall receive Cash in an amount equal to the lesser of: (i) 10% of such holders’ Unsecured Convenience Claim; and (ii) such holder’s Pro Rata share of $500,000.

  • 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.

  • Therefore, each holder of an Unsecured Convenience Claim is entitled to vote to accept or reject the Plan.


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).
Sample 1
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).
Sample 1

Related to Unsecured Convenience Claim

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

  • Unsecured Claim means a Claim that is not an Administrative Claim, a Priority Tax Claim, a Priority Claim, or 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 any unsecured claim (other than an Administrative Claim, a Priority Tax Claim, an Other Priority Claim, a Prepetition Term Loan Claim, or an Intercompany Claim) against one or more of the Debtors including (a) Claims arising from the rejection of Unexpired Leases and Executory Contracts to which a Debtor is a party, and (b) Claims arising from any litigation or other court, administrative or regulatory proceeding, including damages or judgments entered against, or settlement amounts owing by a Debtor related thereto.

  • 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: (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.

  • DIP Claim means a Claim of the DIP Agent or DIP Lenders arising under the DIP Credit Agreement or any of the DIP Orders, including Claims for payment of DIP Expenses.

  • 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.

  • 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.

  • 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.

  • Bankruptcy Loss Coverage Amount As of any date of determination, the Bankruptcy Loss Coverage Amount shall equal the Initial Bankruptcy Loss Coverage Amount as reduced by (i) the aggregate amount of Bankruptcy Losses allocated to the Certificates since the Cut-off Date and (ii) any permissible reductions in the Bankruptcy Loss Coverage Amount as evidenced by a letter of each Rating Agency to the Trustee to the effect that any such reduction will not result in a downgrading, qualification or withdrawal of the then current ratings assigned to the Classes of Certificates rated by it.

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

  • First Lien Claims means, collectively, Claims against the Debtors arising under the Prepetition Term Loan Agreement.