Priority Unsecured Claims definition

Priority Unsecured Claims means any Claim against the Debtors entitled to priority in right of payment under sections 507(a)(3)-(7) of the Bankruptcy Code.

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Priority Unsecured Claims means unpaid wages of Debtor’s employees capped at $12,475.00 each.

Priority Unsecured Claims means those general unsecured claims arising prior to the Filing Date that are entitled to priority pursuant to Section 507(a) of the Bankruptcy Code.

Examples of Priority Unsecured Claims in a sentence

Such Administrative Expenses and Priority Unsecured Claims shall be paid by Seller prior to the Closing Date or by Purchaser after the Closing Date in the ordinary course when they become due according to their terms.
Purchaser shall have the right to review and/or dispute any and all of such Administrative Expenses or Priority Unsecured Claims.
Value City shall unconditionally and irrevocably guaranty to Seller Purchaser's obligation to pay (a) at Closing the Cash Purchase Price, the Stock Consideration and the Letter of Credit Deposit (as applicable) and (b) any Administrative Expenses and Priority Unsecured Claims that are Assumed Liabilities and that remain unpaid thirty (30) days after the Closing Date.
In the event that the actual Administrative Expenses and Priority Unsecured Claims of Seller exceeds the amount of the maximum payment obligation of Purchaser set forth in paragraph (2) above, such claims and related liabilities shall be the sole and exclusive responsibility of Seller and Purchaser shall not be liable for payment of any such claims.
Rather, Purchaser is merely agreeing to pay a specified amount of Seller's Administrative Expenses and Priority Unsecured Claims, and no more.
The Proponents do not believe that there will be any allowed Priority Unsecured Claims.

More Definitions of Priority Unsecured Claims

Priority Unsecured Claims means any Claim entitled to priority under Section 507(a) of the Bankruptcy Code, other than Priority Tax Claims and Administrative Expense Claims.

Priority Unsecured Claims means, collectively, any Claim, other than an Administrative Claim or a Priority Tax Claim, which is entitled to priority under Bankruptcy Code section 507(a).

Priority Unsecured Claims means any and all Claims accorded priority in right of payment

Priority Unsecured Claims means any and all Claims accorded priority in right of payment under Section 507(a) of the Bankruptcy Code.

Priority Unsecured Claims means any General Unsecured Claim which is entitled to priority under the Bankruptcy Code.