Convenience Claim definition

Convenience Claim means a Claim that would otherwise be an Other Unsecured Claim that is

Convenience Claim means a Claim that would otherwise be classified as a General Unsecured Claim that is (i) in the amount of $1,000 or less or (ii) in an amount greater than $1,000 if the Holder of such Claim elects, on such Holder’s timely cast ballot for voting on the Plan, to (x) reduce its Claim to the amount of $1,000 and (y) accept the distribution set forth in Article III.D hereof in full satisfaction, settlement and release, and discharge of such Claim, as such Class is authorized pursuant to the provisions of Bankruptcy Code section 1122.

Convenience Claim means a Claim against Tribune that would otherwise be a General Unsecured Claim that is (a) in an amount equal to or less than$1,000 or (b) in an amount that has been reduced to $1,000 pursuant to a Convenience Class Election made by the Holder of such Claim; provided, however, that where any portion(s) of a single Claim has been transferred on or after April 12, 2010, any transferred portion(s) shall continue to be treated together with such Claim as a single Claim for purposes of the Convenience Class Election and determining whether such Claim qualifies as a Convenience Claim.

Examples of Convenience Claim in a sentence

• Any general unsecured creditor may, through its Ballot, elect to waive its General Unsecured Claim, and instead obtain payment as a General Unsecured Convenience Claim holder.

• Treatment: Except to the extent that a holder of an Allowed General Unsecured Claim agrees to less favorable treatment of such Claim, in exchange for full and final satisfaction, settlement, release, and discharge of, and in exchange for, each Allowed General Unsecured Claim, each holder thereof shall, subject to the holder’s ability to elect Convenience Claim treatment on account of the Allowed General Unsecured Claim, receive such holder’s Pro Rata share of the GUC Plan Distribution.

• Voting: Class 6 is Impaired, and each holder of a Convenience Claim is entitled to vote to accept or reject the Plan.

• In exchange for full and final satisfaction, settlement, release, and discharge of, and in exchange for, each Allowed Convenience Claim, each holder thereof shall receive cash in an amount equal to 100% of such holder’s Allowed Convenience Claim.

• Class 6 is Impaired, and each holder of a Convenience Claim is entitled to vote to accept or reject the Plan.

More Definitions of Convenience Claim

Convenience Claim means any Claim in an amount equal to or less than $100,000.00 that would otherwise qualify as a General Unsecured Claim.

Convenience Claim means an Allowed General Unsecured Claim (a) that is equal to or less than ten thousand dollars ($10,000) or (b) the Holder of which, at such Holder’s option, has elected to reduce the amount of such Allowed General Unsecured Claim to ten thousand dollars ($10,000) in accordance with terms and provisions set forth in Article XIV hereof; provided, however, that, notwithstanding the foregoing, a holder of multiple General Unsecured Claims that are in the aggregate greater than twenty thousand dollars ($20,000) may elect to reduce all such Claims to an aggregate amount of twenty thousand dollars ($20,000) and elect to have all such Claims receive treatment as Convenience Claims; and, provided, further, that the aggregate amount of consideration to be made available to Convenience Claims shall be the Convenience Cap, and, provided, further, that, in the event that such Convenience Cap is exceeded, Holders of Allowed Convenience Claims shall receive a Pro Rata Share of the Convenience Cap.

Convenience Claim means any Affected Claim that is not more than $15,000, provided that

Convenience Claim means, with respect to all Allowed General Unsecured Claims of a creditor in Class 5(a) that timely makes the Convenience Class Election on its Ballot, the lesser of (i) $25,000 or (ii) the aggregate Allowed Amount of its General Unsecured Claims in Class 5(a).

Convenience Claim means any Claim that would otherwise be a General Unsecured Claim that is Allowed in an amount of $50,000 or less; provided that a holder of a General Unsecured Claim that is Allowed in an amount greater than

Convenience Claim means an Allowed General Unsecured Claim with a Face Amount equal to or less than $25,000.

Convenience Claim means any Allowed GUC Claim in an Allowed amount that is greater than $0 but less than or equal to $15,000; provided that a Holder of an Allowed GUC Claim in excess of $15,000 may irrevocably elect on its Ballot to have such Claim irrevocably reduced to $15,000 and treated as a Convenience Claim for the purposes of the Plan, in full and final satisfaction of such Claim.