Definition of Postpetition Interest Rate


Postpetition Interest Rate means with respect to all General Unsecured Claims other than the PharmAthene Claim, the interest rate prescribed by any contract, lease, or judgment applicable thereto, or in the absence of any such contract, lease, or judgment, or if no rate is prescribed therein, the federal judgment rate pursuant to 28 U.S.C. SS 1961.

Examples of Postpetition Interest Rate in a sentence

On or as soon as reasonably practicable after the later of (i) the Effective Date and (ii) the date such General Unsecured Claim becomes Allowed, each holder of an Allowed General Unsecured Claim shall receive Cash in an amount equal to such Allowed General Unsecured Claim up to Five Million Dollars ($5,000,000), plus postpetition interest at the Postpetition Interest Rate accrued from the Commencement Date to the Effective Date.
Promissory Note Claims On the later of (a) the Effective Date or (b) the date the Class 3-C Claim becomes an Allowed Class 3-C Claim, each Holder of an Allowed Class 3-C Claim shall receive, in full satisfaction, settlement, release, and discharge of and in exchange for its Allowed Class 3-C Claim, Cash in an amount equal to 100% of the Allowed Class 3-C Claim plus interest at the Postpetition Interest Rate from the Petition Date through the date of Distribution on such Claim.
Debenture Claims On the later of (a) the Effective Date or (b) the date the Class 3-B Claim becomes an Allowed Class 3-B Claim, each Holder of an Allowed Class 3-B Claim shall receive, in full satisfaction, settlement, release, and discharge of and in exchange for its Allowed Class 3-B Claim, Cash in an amount equal to 100% of the Allowed Class 3-B Claim plus interest at the Postpetition Interest Rate from the Petition Date through the date of Distribution on such Claim.
Summary of Treatment: The Plan provides for 100% payment of Allowed Class 3-C Claims in Cash on the Effective Date, with interest at the Postpetition Interest Rate of 3.32% per annum from the Petition Date to the date of payment.
The Debtors or Reorganized Debtors, as applicable, will have the opportunity to review and dispute the Postpetition Interest Rate Determination Notice and shall File any objection to the Postpetition Interest Rate Determination Notice no later than 60 days after the Effective Date.