ABL Deficiency Claim definition

ABL Deficiency Claim means any portion of the ABL Priority Debt consisting of an allowed unsecured claim under Section 506(a) of the Bankruptcy Code (or any similar provision under any other law governing an Insolvency Proceeding).
Sample 1Sample 2Sample 3
ABL Deficiency Claim means that portion of the Claim asserted by the ABL Agent for the benefit of the ABL Lenders that exceeds the amount of the ABL Secured Claim. For the avoidance of doubt, to the extent the ABL Agent draws on the ABL Letters of Credit, pursuant to Paragraph 5 of the ABL L/C Agreement, Investcorp shall be subrogated to rights of the ABL Agent with respect to the ABL Deficiency Claim on a dollar for dollar basis with respect to the full amount drawn on the ABL Letters of Credit by the ABL Agent.
Sample 1

Examples of ABL Deficiency Claim in a sentence

  • The remaining Claims of the ABL Lenders, if any, shall constitute the ABL Deficiency Claim and shall be classified in Class 6 but shall not be entitled to receive any distributions on account of such Claims.

  • Notwithstanding anything in the Plan or Confirmation Order to the contrary, although the ABL Deficiency Claim and the Term Loan Deficiency Claim are classified as Class 6 General Unsecured Claims, neither the Term Loan Lenders, the ABL Lenders, Investcorp Bank, nor Investcorp shall be entitled to receive any distribution on account of, with respect to, or in relation to the ABL Deficiency Claim or Term Loan Deficiency Claim.

Related to ABL Deficiency Claim

  • Net Proceeds Deficiency shall have the meaning set forth in Section 7.4 hereof.

  • 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.