Common use of Secured Loan Clause in Contracts

Secured Loan. Claims On the Effective Date, each holder of an Allowed Secured Loan Claim shall receive, in full satisfaction of its claim pursuant to the Restructuring Transactions (including a waiver of any deficiency claims related thereto), its pro rata share of 5.0% of the Reorganized Parent Common Stock at the Undiscounted Price Per Share (the “Secured Claims Equity Conversion”), subject to dilution by the DIP Backstop Equity Issuance, the Rights Offering, the Warrants, the New Equity Incentive Plan and conversions, if any, of the Reorganized Parent Participating Preferred Stock. Impaired; entitled to vote.