Preference Claims definition

Preference Claims means any and all claims of the Debtors’ estates that could be brought under section 547 of the Bankruptcy Code or in the alternative based upon the same underlying facts under section 548 of the Bankruptcy Code, and the right to recover on account of any such claim under section 550 of the Bankruptcy Code.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Preference Claims means and refer to all claims to recover a payment or property transferred on account of an antecedent debt, including without limitation claims under section 547 of the Bankruptcy Code, and claims under Utah Code Ann.

Preference Claims means any and all Claims and causes of action arising under section 547 of the Bankruptcy Code or any similar avoidable preference Claims or causes of action that, in any instance, could be brought under state or federal law. All Preference Claims shall be deemed waived and released upon the occurrence of the Effective Date.

Examples of Preference Claims in a sentence

• The obligation of the Trustee to notify the Noteholders of any Insolvency Proceeding or Preference Claims is expressly limited to such matters of which the Trustee has actual knowledge.

• The obligation of the Indenture Trustee to notify the Noteholders of any Insolvency Proceeding or Preference Claims is expressly limited to such matters of which a Responsible Officer of the Indenture Trustee has actual knowledge.

• Notwithstanding any termination of the Trust Estate pursuant to Section 9.01, the Trustee shall remain obligated to distribute to the Certificateholders or former Certificateholders entitled thereto any amounts paid by the Certificate Insurer to the Trustee as Preference Claims pursuant to the Certificate Policy.

• The Debtors’ authority to release the Preference Claims and otherwise satisfy the terms of the arrangement reached between the Debtors and RLC in accordance with the Critcial Vendor Order and set forth in this Stipulation is subject to Court approval.

• Preference Claims; Direction of Proceedings 46 ARTICLE XI SUPPLEMENTAL INDENTURES 47 SECTION 11.01.

• At any time during the forty-five (45) days immediately following the Effective Date, the Litigation Trust may issue demand letters to any Persons identified on the Non-Excluded Person List, seeking to recover potential preference payments from such Persons and may commence legal action to collect any Assigned Preference Claims against such Persons.

• To assist the Litigation Trust with respect to its initial analysis of Assigned Preference Claims, the Debtors shall provide to the Creditors’ Committee and the Settling Defendants a “preliminary preference report” by March 20, 2010, identifying potential preference payments and recipients.

• With respect to Assigned Preference Claims in which the Reorganized Debtors have designated the potential defendant as an Excluded Person, the Reorganized Debtors shall provide to the Trustee, upon request, information sufficient to identify the basis upon which the Reorganized Debtors have determined that such potential defendant constitutes an Excluded Person.

• The Credit Enhancer shall pay Preference Claims in the manner provided in the Policy.

• To the extent the Debtors obtain net recoveries from any Preference Claims between the date hereof and the Payment Date, such net recoveries shall be allocated as follows: (i) 90% to be held by the Debtors, not subject to any lien, claim or 4 The Reorganized Debtors’ share of net recoveries from Assigned Preference Claims shall be deemed to derive from only such claims that do not implicate the Debtors’ insurance.

More Definitions of Preference Claims

Preference Claims means those Causes of Action under § 547(b) of the Bankruptcy

Preference Claims means all claims of Sellers arising under Section 547 of the Bankruptcy Code.

Preference Claims means those potential claims arising under Section 547 of the Bankruptcy Code which are expressly designated and set forth in Exhibit G to the Plan.

Preference Claims means all claims and Causes of Action that may be asserted pursuant to section 547 of the Bankruptcy Codeby the Debtors and the Debtors’ Estates, including, without limitation, any successors in interest thereto.

Preference Claims means claims arising under 11 U.S.C. § 547(b) for the avoidance and/or recovery of transfers occurring prior to the Petition Date.