Deficiency Claims definition

Deficiency Claims means, with respect to any Claim secured by a valid Lien on any property of any Debtor having a value of less than the amount of such Claim (after taking into account other Liens of higher priority on such property), the portion of such Claim equal to the difference between (a) the amount of the Claim and (b) the Allowed amount of the secured portion of such Claim (which Allowed secured amount may be set pursuant to the Committee’s Plan).

Deficiency Claims means, with respect to each Prepetition Facility, Claims against the applicable Debtor(s) in the amount by which the Allowed aggregate amount of the Claims under such Pre-petition Facility exceeds the amount of the Secured Claim thereunder.

Deficiency Claims means the First Lien Deficiency Claims (if any) and the Secured Notes Deficiency Claims.

Examples of Deficiency Claims in a sentence

• Thereafter, until the holders of Senior Secured Claims (taking into account all distributions previously received by them) are paid in full, Excess Recoveries shall be paid 50% to the holders of Deficiency Claims on account of the Senior Secured Claims and 50% to the holders of Deficiency Claims on account of the Bridge Loan Claims.

• Notwithstanding anything to the contrary, the Deficiency Claims of the Senior Secured Lenders and the Bridge Lenders against Non-Schedule III Obligor Debtors may only be satisfied out of the Excess Recoveries (if at all).

• The Second Lien Claims shall be Allowed in the aggregate amount of $153.2 million, with $50 million of such Allowed Claims to be treated as Secured Second Lien Claims and $103.2 million to be treated as Second Lien Deficiency Claims.

• For the avoidance of doubt, under no circumstance will any Holder of an Allowed TCEH First Lien Deficiency Claim receive any recovery or distribution on account of such Allowed TCEH First Lien Deficiency Claims under the Plan (including on account of any recovery or distribution provided for in Article III.B.30).

• In addition, all holders of Allowed Bridge Loan Claims shall agree that all Deficiency Claims they may have against Non-Schedule III Obligor Debtors may only be satisfied out of the Excess Recoveries (if at all); provided, however, that, other than as set forth in Section 4.10, holders of the Bridge Loan Claims shall not agree to any alternative treatment for their Deficiency Claims against Schedule III Obligor Debtors.

More Definitions of Deficiency Claims

Deficiency Claims means, collectively, the First Lien Deficiency Claims and the Second Lien Notes Deficiency Claims.

Deficiency Claims means an Allowed Claim of a Creditor, equal to the amount by which the aggregate Allowed Claims of such Creditor exceed the sum of (a) any set off rights of the Creditor permitted under Section 553 of the Code, plus (b) the Secured Claim of such Creditor; provided, however, that if the holder of a Secured Claim or the Class of which such Claim is a member makes the election provided in Section 1111(b)(2) of the Code, there shall be no Deficiency Claim in respect of such Claim.

Deficiency Claims means, in respect of a creditor holding valid security, the amount by which such creditor’s secured claim (including, without limitation, Non-Filed Affiliate Secured Interco Claims) exceeds the value recoverable by such creditor from the proceeds of their collateral, as determined by the Monitor in accordance with the Allocation Methodology. Affected unsecured creditors (including, for greater certainty, any creditors in respect of their Deficiency Claims) of each of the Participating CCAA Parties shall be entitled to vote their proven claims and unresolved claims on the Proposed Plan in the following classes:

Deficiency Claims means any portion of an Allowed Claim(s) secured by a Lien on property in which the Estate has an interest, or that is subject to setoff, to the extent that the value of such Creditor’s interest or the amount subject to setoff is less than the amount of such Allowed Claim.

Deficiency Claims means any Claims that result from a shortfall of the value of the secured lenders’ collateral when applied to the Revolving Credit Agreement Claims. The Deficiency Claim amount asserted at any given Debtor may vary from other Debtors, based on the recovery of the value of the secured lenders’ collateral at a specific Debtor. In addition, Holders of Administrative Claims may also have a Deficiency Claim based on the Liquidation Proceeds available against the Debtor at which they have their Administrative Claim. These Deficiency Claims are assumed to be asserted

Deficiency Claims means the aggregate amount of claims of the Prepetition Secured Lenders under the Prepetition Secured Facility less the aggregate amount of Prepetition Secured Claims.

Deficiency Claims shall have the meaning ascribed to such term in Section 1.8 of the RRR Agreement.