Secured Claims definition
Secured Claims means Claims held by “secured creditors” as defined in the CCAA, including Construction Lien Claims, to the extent of the Allocated Value of the Property securing such Claim, with the balance of the Claim being a Deficiency Claim, and amounts subject to section 6(6) of the CCAA;
Secured Claims means Claim(s) against the Debtors that are secured by a Lien on property in which the Estates have an interest, which Liens are valid, perfected and enforceable under applicable law or by reason of a Final Order, or that are subject to setoff under section 553 of the Bankruptcy Code, to the extent of the value of the Claim holder’s interest in the Estates’ interest in such property or to the extent of the amount subject to setoff, as applicable, as determined pursuant to section 506(a) of the Bankruptcy Code.
Secured Claims means that portion of a Claim that is (i) secured by security validly charging or encumbering property or assets of the Applicant (including statutory and possessory liens that create security interests) but only up to the value of such collateral, and (ii) duly and properly perfected in accordance with the relevant legislation in the appropriate jurisdiction as of the Filing Date;
Examples of Secured Claims in a sentence
The Pledge is created in addition to any other security or guarantee that the Pledgee holds in respect of the Secured Claims.
With respect to any rights acquired by the Pledgor through subrogation, the Pledgor shall not exercise such rights without the Pledgee’s consent until the Secured Claims have been fully satisfied.
The Pledge and such other security or guarantee shall not affect each other, and each shall secure the Secured Claims in full.
If the Secured Claims are assigned, the Pledgor hereby agrees in advance that the Pledge shall be transferred in connection with such assignment, and shall provide all cooperation necessary for such transfer of the Pledge.
The Pledgee may apply, in its sole discretion and regardless of any statutory order of appropriation, the remaining amount after deducting expenses and costs incurred in connection with the enforcement procedure from the proceeds of such disposition or such appraised value, to the outstanding balance of the Secured Claims.
More Definitions of Secured Claims
Secured Claims means Claims which are: (a) secured by a valid and perfected lien in collateral which is enforceable pursuant to applicable law (i) as set forth in the Plan and Disclosure Statement, (ii) as agreed to by the Holder of such Claim and the Debtors, or (iii) as determined by a Final Order; or (b) subject to a valid right of setoff under Bankruptcy Code section 553, in each case, as determined pursuant to Bankruptcy Code section 506(a).
Secured Claims means all present and future rights and claims (Ansprüche) (whether actual or contingent and whether owed jointly or severally or in any other capacity whatsoever) of any of the Finance Parties against any of the Obligors under the Finance Documents, each as amended, restated, varied, supplemented, novated or extended from time to time, including, without limitation, any increase of principal or interest, in each case together with all costs, charges and expenses incurred by the Finance Parties (or any of them) in connection with the protection, preservation or enforcement of their respective rights under the Finance Documents.
Secured Claims means any and all Claims against any Debtor that are secured by a Lien on, or security interest in, property of such Debtor, or that has the benefit of rights of setoff under section 553 of the Bankruptcy Code, but only to the extent of the value of the Holder’s interest in such Debtor’s interest in such property, or to the extent of the amount subject to setoff, which value shall be determined as provided in section 506 of the Bankruptcy Code.
Secured Claims means all Claims of a Creditor (other than a Claim of the USS Group) to the extent that they are secured by a valid Encumbrance that is duly and properly registered or otherwise perfected in accordance with Applicable Law in the appropriate jurisdiction as of the Filing Date or thereafter pursuant to an Order, to the extent of the value of such Encumbrance as at the Filing Date (having regard to the value of the assets subject to such Encumbrance and the priority of such Encumbrance) and which Claim is entitled to be proven as a secured claim pursuant to the provisions of the CCAA.
Secured Claims means the First Lien Secured Claims and/or the Second Lien Secured Claims as the context may require.
Secured Claims means all Claims against the Applicant that are secured by a valid, perfected and enforceable security interest in, mortgage, encumbrance or charge over, lien against or other similar interest in, any of the assets or property of the Applicant, which, for greater certainty, includes the Holdco Claim.
Secured Claims means, with respect to any Claim against any Debtor, other than Prepetition Credit Agreement Secured Claims, that portion, which, pursuant to section 506 of the Bankruptcy Code is (a) secured by a valid, perfected, and enforceable security interest, Lien, mortgage or other encumbrance, that is not subject to avoidance under applicable bankruptcy or nonbankruptcy law, in or upon any right, title or interest of a Debtor in and to property of the relevant Estate, to the extent of the value of the Holder’s interest in such property as of the relevant determination date or (b) Allowed as such pursuant to the terms of the Plan (subject to the occurrence of the Effective Date).