Common use of Shortfall Claim Clause in Contracts

Shortfall Claim. 5.1.1 Each Consenting Beneficiary shall have an unsecured claim against the general estate of the Company in the amount of its 19/9 Shortfall (if any) (its “19/9 Shortfall Claim”, which may be zero) in accordance with and subject to the terms and conditions of this Clause 5. 5.1.2 Each 19/9 Shortfall Claim shall be deemed to have arisen upon the Administration Date.

Appears in 2 contracts

Sources: Omnibus Settlement Agreement, Common Terms Agreement