Unsecured Claims Sample Clauses

Unsecured Claims. In exchange for its existing general unsecured claims against ARG, Enterprises, and/or Property Management, each general unsecured creditor (including holders of Secured Notes on account of any unsecured deficiency claims they may hold), may elect to receive either the “Equity Consideration” or the “Cash Consideration”, each as described below. The Equity Consideration shall consist of a pro rata share of 20% of the New Common Stock (or such other amount as the Bankruptcy Court (as defined below) may order in connection with confirmation of the Plan), in all cases subject to dilution for the Management Options (the “GUC Allocated New Common Stock”). The Cash Consideration shall consist of payment of an amount equal to 12% of the allowed amount of such creditor’s allowed claim (the “Cash Claim Amount”), payable in the following installments: (i) 4% of the allowed amount of such creditor’s claim on the Effective Date; (ii) 4% of the allowed amount of such creditor’s claim on the first anniversary of the Effective Date; and (iii) 4% of the allowed amount of such creditor’s claim on the second anniversary of the Effective Date (subject to the condition that the total amount of cash to be distributed to creditors that elect to receive the Cash Consideration does not exceed an aggregate amount that is mutually acceptable to the Company and the Required Secured Noteholders (the “Maximum Cash Amount”). With respect to the Cash Consideration: (a) each Secured Noteholder agrees to waive its respective right to elect to receive the Cash Consideration under the Plan; and (b) if the total amount of cash to be distributed to creditors that elect to receive the Cash Consideration exceeds the Maximum Cash Amount, then each creditor that elects to receive the Cash Consideration shall receive its pro rata share of the Maximum Cash Amount (based upon its Cash Claim Amount), with any remaining distributions due to such creditor being satisfied through the distribution to such creditor of shares of GUC Allocated New Common Stock having a value equal to the amount of such remaining distributions. General unsecured creditors shall not be entitled to “split” their claims between the Equity Consideration and the Cash Consideration. Any general unsecured creditor who elects both the Equity Consideration and the Cash Consideration will be deemed to have elected the Equity Consideration. Any deficiency claims of the holders of the Secured Notes shall be classified in the same class a...
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Unsecured Claims. General Unsecured To be agreed between the Reorganized Debtors and the Steering Committee, but not to exceed $100,000. • Insured Claims A holder of an allowed claim that is an insured claim shall be paid in the ordinary course of the business of the Reorganized Debtors from the proceeds of any insurance policy covering such claims maintained by or for the benefit of the Debtors or the Reorganized Debtors. Equity Interests • USSP Prepetition Equity Interests On the Effective Date, all USSP Prepetition Equity Interests shall be deemed cancelled and extinguished and the holders of USSP Prepetition Equity Interests shall not be entitled to, and shall not receive or retain, any property or interest in property on account of such Prepetition Equity Interests under the Plan. Holders of USSP Prepetition Equity Interests shall not be required to surrender their certificates or other interests evidencing ownership of such Prepetition Equity Interests. • GP Prepetition Equity Interests On the Effective Date, all prepetition equity interests in USSGP (“GP Prepetition Equity Interests”) shall be deemed cancelled and extinguished and the holders of GP Prepetition Equity Interests shall not be entitled to, and shall not receive or retain, any property or interest in property on account of such Prepetition Equity Interests under the Plan. Holders of GP Prepetition Equity Interests shall not be required to surrender their certificates or other interests evidencing ownership of such Prepetition Equity Interests.
Unsecured Claims. The Company will determine the value of any unsecured claims each Signatory has against the Company (which claims will principally arise from: (i) the value of the Signatory’s rehypothecated long positions; (ii) the Signatory’s cash balances (for those clients that were not entitled to client money protection under FSA rules); and (iii) amounts owed to the Signatory under financial contracts, such as derivatives). The Agreement provides for rehypothecated long positions to be valued as of the last business day prior to the date of administration (i.e., 12 September 2008) (based on the rationale that the Company used the value of the rehypothecated long positions to obtain financing that was then provided to clients as margin debt). Financial contracts that have been closed out will be valued based on the close-out amounts determined in the manner set out in the contracts. Open financial contracts will be automatically closed out on the last business day of the month in which the Signatory enters into the Agreement. The Agreement sets out different methodologies to be used in determining the value of the close-out amounts under these financial contracts.
Unsecured Claims. To obtain the determination that the Xxxxxx Funds Claims are FX/Unsecured Claims, the RCM Trustee shall take such action as may be necessary or advisable including obtaining a termination of the stay relating to the adversary proceeding brought by the holders of the Xxxxxx Funds Claims.
Unsecured Claims. The Liquidation Analysis assumes that there will be $174.6 million of Unsecured Claims consisting of the following: – Existing Note Claims, consisting of the principal amount of approximately $172.5 million, accrued and unpaid pre- and post-Conversion Date interest of approximately $1.9 million – $0.1 million in Claims primarily consisting of accrued corporate expenses at GLBR – $0.2 million in intercompany Claims, including $0.1 million of claims owed to FXCM Global Services and $0.1 million of claims owed to Holdings – The Liquidation Analysis projects that Unsecured Claims will receive no recovery pursuant to the Liquidation Distribution
Unsecured Claims. On the Effective Date, each holder of Allowed 2020 Unsecured Notes Claims, 2022 Unsecured Notes Claims, and 2023 Unsecured Notes Claims (collectively, “Unsecured Notes Claims”, and the holders of such Claims, the “Unsecured Noteholders”), 1.
Unsecured Claims. 5. Claims arising out of interest on unsecured claims accruing after the opening of the insolvency proceedings.
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Unsecured Claims. No provision of this Amendment will be construed as an agreement by AVSA to limit any unsecured claim it may have against Northwest or any of its Affiliates.
Unsecured Claims. The Bank shall not be obligated to reserve or otherwise set aside funds for the payment of its obligations hereunder, and the rights of Executive under this -7- Agreement shall be an unsecured claim against the general assets of the Bank. All amounts due Executive or Beneficiaries under this Agreement shall be paid out of the general assets of the Bank.
Unsecured Claims. SunTrust, as Trustee for the Series 2001A-1 Bonds, and HSBC, as Trustee for the 2001A-2 Bonds, shall have, for the benefit of the Holders thereof, an allowed general unsecured claim equal to the principal balance outstanding of the Series 2001A-1 Bonds and Series 2001A-2 Bonds (referred to collectively herein as the "Series 0000X Xxxxx"), respectively, plus interest computed at the rate and in the amount provided for in the applicable Bond Agreements after a default for the period commencing on the date of the last pre-petition payment on the respective Bonds and continuing through and including the Effective Date (hereinafter defined) of the Plan (respectively, the "Series 2001A-1 Unsecured Claim" and the "Series 2001A-2 Unsecured Claim").
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