Gap Claim definition

Gap Claim means any Unsecured Claim arising after the Petition Date and prior to the Order for Relief Date that is entitled to priority pursuant to Section 507(a)(2) of the Bankruptcy Code.
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Gap Claim means a Claim entitled to priority under Section 507(a)(2) of the Bankruptcy Code.
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Gap Claim means claim that was incurred by the Debtor between the Petition Date and the Date of Adjudication.
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Examples of Gap Claim in a sentence

  • The most efficient way to start a GAP claim is to go to the Classic Claims Portal at www.classictrak.com and selecting the Gap Claim Center button .

  • The Court shall not consider any applications for the allowance of an Administrative Expense Claim or Gap Claim filed after such dates.

  • Under the terms of the Mortgage Sale Agreement, the Seller will undertake to the Issuer and the Trustee that it will enforce its rights against Barclays in order to realise amounts required to discharge an Overdue Claim or a Warranty Gap Claim.

  • Except to the extent that a Holder of an Allowed Priority Non-Tax Claim agrees to a less favorable treatment, (i) Allowed Gap Claims shall be paid in cash and in full on the later of (a) the Effective Date, and (b) the date on which each such Gap Claim becomes an Allowed Gap Claim, and (ii) remaining Non-Tax Priority Claims, if any, shall be paid in cash and in full on the later of (a) the Effective Date, and (b) the date on which each such Non-Tax Priority Claim becomes an Allowed Non-Tax Priority Claim.

  • Warranty Gap Claim means any claim that the Issuer raises against the Seller under the Mortgage Sale Agreement in respect of a breach of a Mortgage Loan Warranty where the Seller cannot make a claim for the same loss or liability against the Original Seller under the Original Mortgage Sale Deed in respect of a breach of any warranty or warranties provided by the Original Seller under the Original Mortgage Sale Deed.

  • On the Distribution Date or, if a Gap Claim is disputed, as soon as reasonably practical after the date it becomes an Allowed Gap Claim, the holder of such Allowed Gap Claim will receive in full satisfaction, settlement, and release of and in exchange for such Allowed Gap Claim (i) Cash equal to the unpaid portion of such Allowed Gap Claim or (ii) such other treatment as to which the Debtor or Reorganized Noxso and such holder will have agreed upon in writing.

  • Gap Claims are to be disallowed as provided under section 502(d) of the Bankruptcy Code, so the Nabors Gap Claim (and Unsecured General Claim) even if valid (which is denied) should be Disallowed.

  • Definition of “easement” contained in the Planners Dictionary, marked as Hearing Exhibit K.After conducting a public hearing and having reviewed the Record and heard from the Appellant, the Applicants, City staff and members of the public interested in the matter, the Board hereby FINDS, as follows: FINDINGS OF FACT 1.

  • In this way, employers will have no incentive to use outsourced workers as cheap labour.

  • On the later of the Effective Date and the date an Involuntary Gap Claim becomes an Allowed Involuntary Gap Claim, or with ten (10) days thereof, and except to the extent a holder of an Allowed Involuntary Gap Claim agrees to a different treatment of such claim, each holder of an Allowed Involuntary Gap Claim shall receive cash in an amount equal to such Allowed Involuntary Gap Claim.


More Definitions of Gap Claim

Gap Claim means a Claim arising in the ordinary course of the Debtor’s business or financial affairs after the Petition Date but before the Relief Date, as allowable pursuant to Bankruptcy Code section 502(f).
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Related to Gap Claim

  • DIP Claim means a Claim held by the DIP Lenders or the DIP Agent arising under or relating to the DIP Credit Agreement or the DIP Order, including any and all fees, interests paid in kind, and accrued but unpaid interest and fees arising under the DIP Credit Agreement, but, for the avoidance of doubt, excluding the First Lien Adequate Protection Claims.

  • 503(b)(9) Claim means a Claim or any portion thereof entitled to administrative expense priority pursuant to section 503(b)(9) of the Bankruptcy Code.

  • IP Claim means a Claim made against you by a third party alleging that the Stripe Technology, Services or a Stripe Mark provided to and used by you in accordance with this Agreement infringes or misappropriates the IP Rights of the third party making the Claim, excluding Claims made by Connected Accounts.

  • Secured Claim means a Claim that is secured by a Lien on property in which any of the Debtors’ Estates have an interest or that is subject to setoff under section 553 of the Bankruptcy Code, to the extent of the value of the Claim holder’s interest in such Estate’s interest in such property or to the extent of the amount subject to setoff, as applicable, as determined pursuant to section 506(a) of the Bankruptcy Code or, in the case of setoff, pursuant to section 553 of the Bankruptcy Code.

  • Tax Claim has the meaning set forth in Section 6.05.

  • Deficiency Claim means any portion of a Claim (a) to the extent the value of the holder’s interest in Assets securing such Claim is less than the amount of such Claim or (b) to the extent the amount of a Claim is subject to setoff is less than the amount of the Claim, each as determined by § 506(a) of the Bankruptcy Code.

  • AWR Claim means any complaint or claim to a tribunal or court made by or on behalf of the Agency Worker against the Hirer and/or the Employment Business for any breach of the AWR;

  • Payment Claim means the claim for payment made by the Contractor in accordance with this Contract.

  • Unsecured Claim means a Claim that is not an Administrative Claim, a Priority Tax Claim, a Priority Claim, or a Secured Claim.

  • IPR Claim means any claim of infringement or alleged infringement (including the defence of such infringement or alleged infringement) of any IPR, used to provide the Services or as otherwise provided and/or licensed by the Supplier (or to which the Supplier has provided access) to the Authority in the fulfilment of its obligations under this Framework Agreement;

  • Indemnity Claim has the meaning set forth in Section 8.3.

  • Disallowed Claim means (a) a Claim, or any portion thereof, that has been disallowed by a Final Order or a settlement, (b) a Claim or any portion thereof that is Scheduled at zero or as contingent, disputed, or unliquidated and as to which a proof of claim bar date has been established but no proof of claim has been timely filed or deemed timely filed with the Bankruptcy Court pursuant to either the Bankruptcy Code or any Final Order of the Bankruptcy Court or otherwise deemed timely filed under applicable law, or (c) a Claim or any portion thereof that is not Scheduled and as to which a proof of claim bar date has been established but no proof of claim has been timely filed or deemed timely filed with the Bankruptcy Court pursuant to either the Bankruptcy Code or any Final Order of the Bankruptcy Court or otherwise deemed timely filed under applicable law.

  • Unresolved Claim means a Claim, which at the relevant time, in whole or in part: (a) has not been Finally Determined to be a Proven Claim in accordance with the Amended Claims Procedure Order and this Plan; (b) is validly disputed in accordance with the Amended Claims Procedure Order; and/or (c) remains subject to review and for which a Notice of Allowance or Notice of Revision or Disallowance (each as defined in the Amended Claims Procedure Order) has not been issued to the Creditor in accordance with the Amended Claims Procedure Order as at the date of this Plan, in each of the foregoing clauses, including both as to proof and/or quantum;

  • Deficiency Claim Amount has the meaning set forth in Section 5.5(a).

  • Fraud Claim means any claim based in whole or in part upon fraud, willful misconduct or intentional misrepresentation.

  • Allowed Administrative Claim means all or that portion of an Administrative Claim which is an Allowed Claim.

  • Covered claim means the following:

  • Clean Claim means a claim that:

  • Administrative Claim means a Claim for costs and expenses of administration of the Estates under sections 503(b), 507(a)(2), 507(b), or 1114(e)(2) of the Bankruptcy Code, including: (a) the actual and necessary costs and expenses incurred on or after the Petition Date of preserving the Estates and operating the businesses of the Debtors; (b) Allowed Professional Fee Claims in the Chapter 11 Cases; and (c) all fees and charges assessed against the Estates under chapter 123 of title 28 of the United States Code, 28 U.S.C. §§ 1911-1930.

  • Insured Claim means any Claim arising from an incident or occurrence alleged to have occurred prior to the Effective Date that is covered under an insurance policy applicable to the Debtors or their businesses.

  • Liability Claim has the meaning set forth in Section 7.2(a).

  • Fee Claim means a Claim for Accrued Professional Compensation.

  • Allowed Secured Claim means an Allowed Claim secured by a Lien, security interest, or other charge against or interest in property in which the Debtor has an interest or that is subject to setoff under Section 553 of the Bankruptcy Code, to the extent of the value (as specified in the Plan, or if no value is specified, as determined in accordance with Section 506(a) of the Bankruptcy Code) of the interest of a holder of such Allowed Claim in the Debtor's interest in such property or to the extent of the amount subject to such setoff, as the case may be.

  • Priority Claim means a Claim that is entitled to priority in payment pursuant to section 507(a) of the Bankruptcy Code that is not an Administrative Claim or a Priority Tax Claim.

  • Warranty Claim means a claim for breach of any of the Warranties.

  • Allowed Claim means an Allowed Claim of the type described.