{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "application-of-money-collected", "type": "clause", "offset": [0, 30]}], "snippet": "Application of Money Collected.................................36", "samples": [{"hash": "l56izbbUXWm", "uri": "/contracts/l56izbbUXWm#section-506", "label": "Indenture (Baker Hughes Inc)", "score": 18.0, "published": true}, {"hash": "iZ15ptWfbe", "uri": "/contracts/iZ15ptWfbe#section-506", "label": "Indenture (Staples Inc)", "score": 18.0, "published": true}, {"hash": "fvbxFffhhvU", "uri": "/contracts/fvbxFffhhvU#section-506", "label": "Indenture (Meadwestvaco Corp)", "score": 18.0, "published": true}], "size": 371, "hash": "e99fd38b5f5767182e343c1853e86bff", "id": 1}, {"snippet_links": [{"key": "application-of-money-collected", "type": "clause", "offset": [0, 30]}], "snippet": "Application of Money Collected............................................................ 31", "samples": [{"hash": "lBwN8of44f2", "uri": "/contracts/lBwN8of44f2#section-506", "label": "Junior Subordinated Debt Indenture (Aig Capital Trust I)", "score": 18.0, "published": true}, {"hash": "knHtWA3H9sY", "uri": "/contracts/knHtWA3H9sY#section-506", "label": "Senior Indenture (Brown Tom Inc /De)", "score": 18.0, "published": true}, {"hash": "eW5HliOF4Vg", "uri": "/contracts/eW5HliOF4Vg#section-506", "label": "Subordinated Debt Indenture (Aig Capital Trust I)", "score": 18.0, "published": true}], "size": 230, "hash": "98aa27cc2d7a17760444c1b0e189eee5", "id": 2}, {"snippet_links": [{"key": "application-of-money-collected", "type": "clause", "offset": [0, 30]}], "snippet": "Application of Money Collected.............................................................33", "samples": [{"hash": "gGl4lWEjiRk", "uri": "/contracts/gGl4lWEjiRk#section-506", "label": "Indenture (Brandywine Operating Partnership Lp /Pa)", "score": 18.0, "published": true}, {"hash": "fdWrlewdWP3", "uri": "/contracts/fdWrlewdWP3#section-506", "label": "Indenture (Brandywine Operating Partnership Lp /Pa)", "score": 18.0, "published": true}, {"hash": "etNCShZfBUw", "uri": "/contracts/etNCShZfBUw#section-506", "label": "Indenture (Brandywine Operating Partnership Lp /Pa)", "score": 18.0, "published": true}], "size": 227, "hash": "754f21aa414fd5407b5349bd8a8eab4f", "id": 3}, {"snippet_links": [{"key": "application-of-money-collected", "type": "clause", "offset": [0, 30]}], "snippet": "Application of Money Collected..................... 35", "samples": [{"hash": "iXX6iTkCDDE", "uri": "/contracts/iXX6iTkCDDE#section-506", "label": "Subordinated Indenture (Duke Capital Financing Trust V)", "score": 18.0, "published": true}, {"hash": "iFpFz0fKxSk", "uri": "/contracts/iFpFz0fKxSk#section-506", "label": "Subordinated Indenture (Duke Capital Financing Trust Iii)", "score": 18.0, "published": true}, {"hash": "hBDze4BM4XQ", "uri": "/contracts/hBDze4BM4XQ#section-506", "label": "Subordinated Indenture (Duke Energy Capital Trust Ii)", "score": 18.0, "published": true}], "size": 156, "hash": "6808d410a24fd7b9b5a402a5fc5882da", "id": 4}, {"snippet_links": [{"key": "application-of-money-collected", "type": "clause", "offset": [0, 30]}], "snippet": "Application of Money Collected . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26", "samples": [{"hash": "hrCUye7oE4f", "uri": "/contracts/hrCUye7oE4f#section-506", "label": "Indenture (Enron Capital Trust Ii)", "score": 18.0, "published": true}, {"hash": "fthvZsF7ryH", "uri": "/contracts/fthvZsF7ryH#section-506", "label": "Indenture (Enron Capital Trust I)", "score": 18.0, "published": true}, {"hash": "darRyn06QeA", "uri": "/contracts/darRyn06QeA#section-506", "label": "Indenture (Enron Capital Trust Ii)", "score": 18.0, "published": true}], "size": 120, "hash": "cc53023f60fb2a85375bb0c6fb0c6685", "id": 5}, {"snippet_links": [{"key": "persons-deemed-securityholders", "type": "clause", "offset": [0, 30]}], "snippet": "Persons Deemed Securityholders........................................................25", "samples": [{"hash": "9N6xKxw7NhI", "uri": "/contracts/9N6xKxw7NhI#section-506", "label": "Trust Agreement (Mbhi Capital Trust I)", "score": 18.0, "published": true}, {"hash": "7pXVZEYAOdg", "uri": "/contracts/7pXVZEYAOdg#section-506", "label": "Trust Agreement (Front Range Capital Trust I)", "score": 18.0, "published": true}, {"hash": "2Dao57hzZFU", "uri": "/contracts/2Dao57hzZFU#section-506", "label": "Trust Agreement (Mbhi Capital Trust I)", "score": 18.0, "published": true}], "size": 46, "hash": "3b379dbb13dd7b2a6113bc3eb15bfee5", "id": 6}, {"snippet_links": [{"key": "application-of-money-collected", "type": "clause", "offset": [0, 30]}, {"key": "section-507", "type": "clause", "offset": [89, 100]}, {"key": "limitations-on-suits", "type": "clause", "offset": [102, 122]}], "snippet": "Application of Money Collected........................................................42 Section 507. Limitations on Suits..................................................................42", "samples": [{"hash": "j8675oESRJx", "uri": "/contracts/j8675oESRJx#section-506", "label": "Indenture (CSX Transportation Inc)", "score": 18.0, "published": true}, {"hash": "frbfktGrxUt", "uri": "/contracts/frbfktGrxUt#section-506", "label": "Indenture (CSX Transportation Inc)", "score": 18.0, "published": true}, {"hash": "9GcOj0Ae6Nn", "uri": "/contracts/9GcOj0Ae6Nn#section-506", "label": "Indenture (Nyc Newco Inc)", "score": 18.0, "published": true}], "size": 28, "hash": "fdd65e24d2ac37bb8b561ae19e818e6a", "id": 7}, {"snippet_links": [{"key": "application-of-money-collected", "type": "clause", "offset": [0, 30]}, {"key": "section-507", "type": "clause", "offset": [55, 66]}, {"key": "limitation-on-suits", "type": "clause", "offset": [68, 87]}], "snippet": "APPLICATION OF MONEY COLLECTED..................... 40 SECTION 507. LIMITATION ON SUITS................................ 41", "samples": [{"hash": "9IxOK0Vjj9e", "uri": "/contracts/9IxOK0Vjj9e#section-506", "label": "Indenture (PDS Financial Corp)", "score": 18.0, "published": true}, {"hash": "6nrB9ZqBYPr", "uri": "/contracts/6nrB9ZqBYPr#section-506", "label": "Indenture (PDS Financial Corp)", "score": 18.0, "published": true}, {"hash": "2q2jyJyojax", "uri": "/contracts/2q2jyJyojax#section-506", "label": "Indenture (PDS Financial Corp)", "score": 18.0, "published": true}], "size": 21, "hash": "86b1d2a16bfea09ff6a71f762304bbf8", "id": 8}, {"snippet_links": [{"key": "application-of-money-collected", "type": "clause", "offset": [0, 30]}], "snippet": "Application of Money Collected . . . . . . . . . . . 22", "samples": [{"hash": "6FQHIN0RAxt", "uri": "/contracts/6FQHIN0RAxt#section-506", "label": "Indenture (Starwood Lodging Trust)", "score": 18.0, "published": true}], "size": 20, "hash": "fc3384a9b6b41692c0496311dc3e6415", "id": 9}, {"snippet_links": [{"key": "application-of-money-collected", "type": "clause", "offset": [0, 30]}], "snippet": "Application of Money Collected.............................................. 38", "samples": [{"hash": "2kTW87wQBrC", "uri": "/contracts/2kTW87wQBrC#section-506", "label": "Senior Indenture (Hartford Capital Iv /De/)", "score": 18.0, "published": true}], "size": 16, "hash": "48591af8275a09ab864fc764955ea12e", "id": 10}], "next_curs": "ClQSTmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjALEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhRzZWN0aW9uLTUwNiMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"children": [], "size": 1400, "parents": [["amendments", "Amendments"]], "title": "SECTION 506", "id": "section-506", "related": [["section-507", "SECTION 507", "SECTION 507"], ["section-504", "Section 504", "Section 504"], ["section-509", "SECTION 509", "SECTION 509"], ["section-508", "SECTION 508", "SECTION 508"], ["section-510", "SECTION 510", "SECTION 510"]], "related_snippets": [], "updated": "2025-11-07T05:29:32+00:00", "also_ask": [], "drafting_tip": null, "explanation": "Section 506 primarily establishes the rules for determining the validity, priority, and extent of secured claims in bankruptcy proceedings. It outlines how a creditor's claim, secured by a lien on property, is valued and whether any portion of the claim is considered unsecured if the collateral's value is less than the amount owed. For example, if a debtor owes more on a mortgage than the property is worth, Section 506 allows the court to split the claim into secured and unsecured portions. This clause ensures that creditors receive fair treatment based on the actual value of their collateral, thereby clarifying the distribution of assets and reducing disputes over claim amounts in bankruptcy cases."}, "json": true, "cursor": ""}}