Impaired Class definition

Impaired Class means an impaired Class within the meaning of section 1124 of the Bankruptcy Code.

Impaired Class means a Class of Claims or Interests that is Impaired.

Impaired Class means a Class that is impaired within the meaning of section 1124 of the Bankruptcy Code.

Examples of Impaired Class in a sentence

• To the extent that any Impaired Class rejects the Plan or is deemed to have rejected the Plan, ProtoStar will request confirmation of the Plan, as it may be modified from time to time, under section 1129(b) of the Bankruptcy Code.

• Except as otherwise specifically provided in the Plan, if any Impaired Class shall not accept the Plan by the requisite statutory majority provided in section 1126(c) or (d) of the Bankruptcy Code, the Debtors reserve the right to amend the Plan (subject to the Plan Support Agreements and conditions to the Effective Date set forth below) or undertake to have the Bankruptcy Court confirm the Plan under section 1129(b) of the Bankruptcy Code or both.

• Among the requirements for confirmation of the Plan are that the Plan (i) is accepted by all Impaired Classes of Claims and Equity Interests or, if rejected by an Impaired Class, that the Plan “does not discriminate unfairly” and is “fair and equitable” as to such Class, (ii) is feasible, and (iii) is in the “best interests” of creditors and equity interest holders that are Impaired under the Plan.

• The Plan provides that if any Impaired Class rejects the Plan, ProtoStar reserves the right to seek to confirm the Plan utilizing the “cram down” provisions of section 1129(b) of the Bankruptcy Code.

• Confirmation of a Plan requires, among other things, that each Holder of a Claim in an Impaired Class and each Holder of an Equity Interest either: (a) accepts the Plan; or (b) receives or retains under the Plan property of a value, as of the Effective Date, that is not less than the value such Holder would receive or retain if ProtoStar were liquidated under chapter 7 of the Bankruptcy Code.

More Definitions of Impaired Class

Impaired Class means a Class that is Impaired.

Impaired Class means each of Classes 2, 5, 6 and 7 as set forth in Article III of the Plan.

Impaired Class means a Class that is impaired within the meaning of section 1124 of the Bankruptcy Code. For the avoidance of doubt, Impaired Classes are Classes 2, 3, 5, 8, and 9.

Impaired Class means each of the Classes that is not an Unimpaired Class.

Impaired Class means a Class that is impaired within the meaning of section 1124 of the Bankruptcy Code. For the avoidance of doubt, Impaired Classes are Class 4a for Chemtura Corporation, Class 4b for each of the applicable Subsidiary Debtors, Classes 5, 6 and 11 for Chemtura Corporation and each of the applicable Subsidiary Debtors, Class 7 for Chemtura Corporation and Great Lakes Chemical Corporation, Classes 8 and 13a for Chemtura Corporation and Class 10 for Chemtura Corporation and Chemtura Canada (in the event it becomes a Debtor before the Confirmation Date). For the avoidance of doubt, the only Impaired Class with respect to Chemtura Canada, in the event it becomes a Debtor before the Confirmation Date, will be Class 10.

Impaired Class means a Class that is impaired within the meaning of section 1124 of the Bankruptcy Code. For the avoidance of doubt, Impaired Classes under the Plan are Class 2 and Class 5.

Impaired Class means each of Classes 1 through 6, as set forth in Article III of the Plan. "Initial Creditors Trust Funds" shall mean Cash in the amount Fifty Thousand and