Examples of General Unsecured Creditor in a sentence
If the undersigned does not deliver a valid Distribution Election Notice prior to the Distribution Election Deadline, or this Distribution Election Notice does not indicate a Distribution Election, or more than one Distribution Election is recorded, the undersigned will be deemed to have made the 75% Distribution Election and shall be required to attend at the Creditors’ Meeting of the General Unsecured Creditor Class to cast its vote on the CCAA Plan.
Thereafter such transferee shall, for all purposes in accordance with the Claims Process Order, the Creditors’ Meeting Order, the CCAA and this Plan, constitute a General Unsecured Creditor and shall be bound by any notices given or steps taken in respect of such Claim in accordance with the Creditors’ Meeting Order and any further Orders.
General Unsecured Creditors with Accepted Claims as of the Initial Distribution Date, other than those General Unsecured Creditors who have made the Installment Distribution Election, shall receive distributions from the General Unsecured Creditor Cash Fund in accordance with Section 5.2 of this Plan.
The Liquidation Trustee shall maintain a register of the holders of General Unsecured Creditor Interests and shall adjust, without further order of the Bankruptcy Court, the register from time to time as General Unsecured Claims that are Disputed Claims become Allowed.
If a Disputed General Unsecured Creditor Claim is finally determined to be an Accepted Claim (in whole or in part), the holder of such Accepted Claim shall be deemed to have made the 75% Distribution Election hereunder, and shall be paid the amount to which it is entitled under this Plan by Coalspur rather than by the Monitor out of the General Unsecured Creditor Cash Fund.