Convenience Creditors definition

Convenience Creditors means all Default Convenience Creditors and Opt-in Convenience Creditor;
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Convenience Creditors means all Creditors with Proven Claims not exceeding $1,000.00; “Court” means the Ontario Superior Court of Justice (Commercial List);
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Examples of Convenience Creditors in a sentence

  • Upon implementation of the Plan, LIM distributed all of the shares of RoyaltyCo to creditors of LIM and SMI, other than Convenience Creditors, on a pro rata basis in partial satisfaction of their claims against LIM and SMI.

  • Convenience Creditors shall be deemed to vote in favour of the Plan.

  • Each Affected Creditor with an Allowed Affected Claim, other than the Convenience Creditors, shall become entitled to its Affected Creditor Entitlement on the Plan Implementation Date without any further steps or actions by the Applicant, such Affected Creditor or any other Person.

  • Convenience Creditors, being creditors with claims of less than or equal to $5,000 or those who elect to receive such treatment, will receive the lesser of $5,000 or the amount of their claim.

  • On the First Entitlement Date, the Applicant shall distribute to each Affected Creditor with an Allowed Affected Claim (other than Convenience Creditors who, for greater certainty, shall have no Affected Creditor Entitlement) sixty percent of such Affected Creditors’ Affected Creditor Entitlement by way of direct deposit, wire transfer, credit card payment or cheque sent by prepaid ordinary mail to the address as shown on the Claims Schedule.

  • Convenience Creditors, being Creditors with Affected Unsecured Claims that, in the aggregate: i) are less than or equal to $5,000; or ii) exceed $5,000, but elect to value their claims at $5,000 for both voting and distribution purposes under the Plan, are to receive a cash distribution of the lesser of their claim amount or $5,000 (“Cash Elected Amount”).

  • On the Plan Implementation Date, in the sequence set forth in Section 5.3 and under the supervision of the Monitor, the Applicant shall pay the applicable amounts to the Convenience Creditors with Allowed Affected Claims that are Convenience Claims and reserve the applicable amounts into the Disputed Distribution Claims Reserve in respect of Convenience Creditors with Disputed Distribution Claims, in each case in the manner and in the amounts set forth in the Plan.

  • On the Plan Implementation Date, under the supervision of the Monitor, an amount equal to each Disputed Distribution Claim of the Convenience Creditors shall be reserved and held by the Applicant, in the Disputed Distribution Claims Reserve, for the benefit of the Convenience Creditors with Allowed Affected Claims that are Convenience Claims, pending the final determination of the Disputed Distribution Claim in accordance with the Claims Procedure Order and the Plan.

  • Notwithstanding the foregoing, all Convenience Creditors are irrevocably deemed to have voted the full amount of their Proven Claims in favour of the approval of the Resolution.

  • Non-controlling interest represents the 49% equity share of LIMH’s subsidiary LIM that was distributed to creditors of LIM and SMI, other than Convenience Creditors, under the Plan of Arrangement on December 19, 2016.

Related to Convenience Creditors

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

  • Convenience fee means a fee charged to the cardholder for the convenience to that cardholder of using a particular method of payment in a credit or debit card transaction in accordance with the network regulations governing that transaction.

  • Requisite Creditors of any Class shall mean each of (x) with respect to the Credit Document Obligations, the Required Banks and (y) with respect to the Other Obligations, the holders of at least a majority of all obligations outstanding from time to time under the Interest Rate Protection Agreements or Other Hedging Agreements.

  • Prior Lenders means, collectively, the lenders party to the Prior Credit Agreement.

  • Senior Lenders means each of the lenders from time to time under the Senior Credit Agreement.

  • Senior Creditors means, (a) depositors of the Issuer, (b) creditors of the Issuer who are unsubordinated creditors of the Issuer, and (c) creditors of the Issuer whose claims are or are expressed to be subordinated to the claims of other creditors of the Issuer (other than those whose claims are in respect of obligations which constitute, or would but for any applicable limitation on the amount of such capital, constitute, Tier 1 capital or Tier 2 capital or whose claims rank or are expressed to rank pari passu with, or junior to, the claims of holders in respect of the Notes) (whether only in a Winding Up of the Issuer or otherwise);

  • Consenting Creditors has the meaning set forth in the preamble to this Agreement.

  • Prepetition Lenders means those lenders party to the Prepetition Credit Agreement from time to time.

  • Unsecured Creditors means all Creditors with Concurrent Claims against the Company;

  • DIP Lenders has the meaning assigned to such term in Section 2.05(b).

  • Debtors has the meaning set forth in the Recitals.

  • Debtors in Possession means the Debtors in their capacity as debtors in possession in the Chapter 11 Cases pursuant to sections 1101, 1107(a), and 1108 of the Bankruptcy Code.

  • Consenting Stakeholders has the meaning set forth in the preamble to this Agreement.

  • Senior Claims means, (a) with respect to the RBL Priority Collateral, each of the First-Priority Lien Obligations secured by such Collateral and, (b) with respect to the Term/Notes Priority Collateral, each of the Second-Priority Lien Obligations secured by such Collateral.

  • General Unsecured Claims means Claims against any Debtor that are not Secured Claims, Administrative Claims, Priority Claims, Professional Compensation Claims, Intercompany Claims, or Equity Interests.

  • Secured Claims means Claims held by “secured creditors” as defined in the CCAA, including Construction Lien Claims, to the extent of the Allocated Value of the Property securing such Claim, with the balance of the Claim being a Deficiency Claim, and amounts subject to section 6(6) of the CCAA;

  • Lender Creditors shall have the meaning provided in the recitals of this Agreement.

  • First Lien Claims means, collectively, Claims against the Debtors arising under the Prepetition Term Loan Agreement.

  • Bankruptcy Coverage $100,000 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage pursuant to the second paragraph of this definition and (b) Bankruptcy Losses allocated to the Certificates. The Bankruptcy Coverage may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies.

  • Other Secured Claims means any Secured Claim against the Debtors that is not an Administrative

  • financial creditor means any person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred to;

  • DIP Agents means the DIP ABL Agent and the DIP Term Loan Agent.

  • Second Lien Lenders means the “Lenders” under and as defined in the Second Lien Credit Agreement.

  • Stakeholders means the company’s employees, the employees of its subsidiaries, and other individuals, groups, communities or entities whose rights or interests are or could be affected by the products, services and operations of that company, its subsidiaries and its business relationships;