Avoidance Issues definition

Avoidance Issues. If any First Lien Party is required to disgorge or otherwise pay any amount to the estate of any Credit Party for any reason (a “Recovery”), then the First Lien Obligations shall be reinstated to the extent of such Recovery and the Discharge of the First Lien Obligations shall be deemed not to have occurred.
Sample 1
Avoidance Issues. If any First Lien Claimholder is required in any insolvency, bankruptcy or liquidation proceeding to disgorge or otherwise to turn over or otherwise pay any amount to the estate of any Loan Party for any reason (a “Recovery”), then the First Lien Obligations shall be reinstated to the extent of such Recovery and the First Lien Claimholders shall be entitled to a reinstatement of First Lien Obligations with respect to all such recovered amounts. Any amounts received by the Second Lien Agent or any other Second Lien Claimholder on account of the Second Lien Obligations after the termination of the Term Collateral Intercreditor Agreement shall, in the event of such reinstatement, be held in trust for and paid over to the First Lien Collateral Agent for the benefit of the First Lien Claimholders, for application to the reinstated First Lien Obligations.
Sample 1
Avoidance Issues. If any Secured Party is required to disgorge or otherwise pay any amount to the bankruptcy estate of any Loan Party for any reason (a “Recovery”), then the obligations of such Secured Party shall be reinstated to the extent of such Recovery. GOVERNING LAW: The State of New York.
Sample 1

Examples of Avoidance Issues in a sentence

  • Subject to Section 6.4 (Avoidance Issues), this Agreement shall continue to be effective until the Discharge of First Lien Obligations shall have occurred or such later time as the Discharge of Second Lien Obligations shall have occurred.

  • Avoidance Issues A Trustee, or debtor-in-possession in a Chapter 11 case, is entitled to seek the avoidance and recovery of certain transfers that occur within certain time periods prior to the bankruptcy filing.

  • Insolvency or Liquidation Proceedings 39 6.1 DIP Financing 39 6.2 Relief from the Automatic Stay 39 TABLE OF CONTENTS (continued) Page 6.3 Adequate Protection 40 6.4 Post-Petition Interest 42 6.5 Avoidance Issues 42 6.6 Application 43 6.7 Waivers 43 6.8 Separate Grants of Liens 43 6.9 Asset Sales 44 Section 7.

  • Insolvency or Liquidation Proceedings J-2-32 6.1 Finance and Sale Issues J-2-32 6.2 Relief from the Automatic Stay J-2-34 6.3 Adequate Protection J-2-34 6.4 No Waiver J-2-36 6.5 Avoidance Issues J-2-36 6.6 Reorganization Securities J-2-36 6.7 Post-Petition Interest J-2-36 6.8 Waiver J-2-37 6.9 Separate Grants of Security and Separate Classification J-2-37 6.10 Effectiveness in Insolvency or Liquidation Proceedings J-2-38 SECTION 7.

  • Insolvency or Liquidation Proceedings 33 6.1 Finance and Sale Issues 33 6.2 Relief from the Automatic Stay 34 6.3 Adequate Protection 34 6.4 No Waiver 36 6.5 Avoidance Issues 36 6.6 Reorganization Securities 36 6.7 Post-Petition Interest 37 6.8 Waiver 37 6.9 Separate Grants of Security and Separate Classification 37 6.10 Effectiveness in Insolvency or Liquidation Proceedings 38 SECTION 7.

  • Complete the form with as much detail and supportive documentation as is available and practical.b. Send the completed form electronically to the Account Manager.c. Save the completed form electronically in PI\SURS>>Cost Avoidance Issues>> Proposals for Jeff.Step 4.

  • Subject to Section 5.7 (Reinstatement) and Section 6.4 (Avoidance Issues), this Agreement shall continue to be effective until the Discharge of First Lien Obligations shall have occurred or such later time as the Discharge of Junior Lien Obligations shall have occurred.

  • Insolvency or Liquidation Proceedings 41 6.1. DIP Financing 41 6.2. Relief from the Automatic Stay 42 6.3. Adequate Protection 42 6.4. Post-Petition Interest 44 6.5. Avoidance Issues 45 6.6. Application 45 6.7. Waivers 46 6.8. Separate Grants of Liens 46 6.9. Asset Sales 47 Section 7.

  • In response to the years of dedicated to advancing the field of soil science in the province of Quebec, he was the recipient of the AQSSS Award (2007).

  • Insolvency Proceedings 26 5.1 Filing of Motions 26 5.2 Financing Matters 27 5.3 Relief From the Automatic Stay 28 5.4 Adequate Protection 29 5.5 Avoidance Issues 30 5.6 Asset Dispositions in an Insolvency Proceeding 31 5.7 Separate Grants of Security and Separate Classification 32 5.8 Plans of Reorganization 32 5.9 Other Matters 33 5.10 No Waiver of Rights of First Priority Secured Parties 33 5.11 Effectiveness in Insolvency Proceedings 33 SECTION 6.

Related to Avoidance Issues

  • Issuance Items has the meaning set forth in Section 3.3(h) hereof.

  • COVID-19 Pandemic means the SARS-Cov2 or COVID-19 pandemic, including any future resurgence or evolutions or mutations thereof and/or any related or associated disease outbreaks, epidemics and/or pandemics.

  • Tax Exempt Bond-Financed Development means a Development which has been financed by the issuance of tax-exempt bonds subject to applicable volume cap pursuant to Section 42(h)(4) of the IRC.

  • Performing Cash Pay High Yield Securities means High Yield Securities (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semiannual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Intermediate Distribution Frame (IDF means a second frame that augments an existing Main Distribution Frame. Lines or outside cables that do not terminate on the IDF.

  • Income Tax Return means any return, declaration, report, claim for refund, or information return or statement relating to Income Taxes, including any schedule or attachment thereto, and including any amendment thereof.

  • Additional Form 10-D Disclosure As defined in Section 11.07.

  • Non-Income Tax Return means any Tax Return relating to any Tax other than an Income Tax.

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Xxxxxx Group shall have the meaning set forth in Section 9.2(b) hereof.

  • Organ procurement organization means a person designated by the Secretary of the United States Department of Health and Human Services as an organ procurement organization.

  • Mis-procurement means public procurement in contravention of any provision of Sindh Public Procurement Act, 2010, any rule, regulation, order or instruction made thereunder or any other law in respect thereof, or relating to, public procurement;

  • Assigned Annual Special Tax means the Special Tax of that name described in Section D.

  • Performing Cash Pay Mezzanine Investments means Mezzanine Investments (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semi-annual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • Closing Date Working Capital has the meaning specified in Section 2.3(b).

  • Form 10-D Disclosure Item means, with respect to any Person, (a) any legal proceedings pending against such Person or of which any property of such Person is then subject, or (b) any proceedings known to be contemplated by governmental authorities against such Person or of which any property of such Person would be subject, in each case that would be material to the Noteholders.

  • Xxxxx Group means Xxxxx and any Affiliate of Xxxxx.

  • Xxxx Group means collectively Xxxx Capital Fund V, L.P., Xxxx Capital Fund V-B, L.P., BCIP Associates, BCIP Trust Associates, L.P. and Xxxxxxxx Street Partners.

  • Additional Form 10-K Disclosure As defined in Section 11.05.

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;

  • Xxxxxxx Group means (a) any member of the Xxxxxxx Family and (b) any Related Person of any such member.

  • PTCE 95-60 As defined in Section 5.02(b). PUD: A planned unit development.

  • DCYF or the “Division” means the Department of Health and Human Services’ Division for Children, Youth and Families.

  • Working Capital Target means $0.

  • Agreement combined tax rate means the sum of the tax rates: