Third Lien Secured Claims definition

Third Lien Secured Claims means any portion of the Third Lien Obligations not constituting a Third Lien Deficiency.
Sample 1

Examples of Third Lien Secured Claims in a sentence

  • Notwithstanding the foregoing, distributions to Beneficial Holders of Prepetition First Lien Secured Claims shall be made to the Prepetition First Lien Agent, and distributions to Beneficial Holders of Prepetition Second Lien Secured Claims and Prepetition Third Lien Secured Claims shall be made to the Prepetition Indenture Trustee or its designee for further distribution in accordance with the Prepetition Indentures.

  • A U.S. Person’s holding period in such notes and shares should include the holding period of the exchanged Allowed Prepetition Second Lien Secured Claims or Prepetition Third Lien Secured Claims, except to the extent of any exchange consideration received in respect of Accrued Interest.

  • In that case, each U.S. Person holding Allowed Prepetition Second Lien Secured Claims or Prepetition Third Lien Secured Claims should generally recognize gain or loss equal to the difference between (1) the issue price of the New Notes and the fair market value of the New Common Stock (and Cash, in the case of the Prepetition Second Lien Secured Claims) (other than the value received for Accrued Interest, as discussed below), and (2) the U.S. Person’s adjusted tax basis in its Claim, as described above.

  • The following discussion includes only certain U.S. federal income tax consequences of the Plan to Non-U.S. Persons that hold Allowed Prepetition First Lien Secured Claims, Prepetition Second Lien Secured Claims, or Prepetition Third Lien Secured Claims.

  • As of the anticipated Petition Date, the Prepetition First Lien Secured Claims consist of an outstanding principal amount of $112.0 million, the Prepetition Second Lien Secured Claims consist of an outstanding principal amount of $177.0 million, and the Prepetition Third Lien Secured Claims consist of an outstanding principal amount of $22.3 million, respectively, in each case together with any other obligations owed by the Debtors under the applicable debt documents.

  • The Debtors are relying on exemptions from the registration requirements of the Securities Act including, without limitation, section 4(a)(2) of the Securities Act and Regulation D promulgated thereunder, to exempt the offer and issuance of (a) the New Money Notes and (b) the Exchange Notes and the Exchange Common Stock to be issued under the Plan to Holders of the Prepetition Second Lien Secured Claims and Holders of the Prepetition Third Lien Secured Claims.

  • Because Holders of Prepetition First Lien Secured Claims, Prepetition Second Lien Secured Claims, and Prepetition Third Lien Secured Claims are the only impaired creditor Classes under the Plan, only such Holders are entitled to vote on the Plan.The Plan represents a significant achievement for the Company and should greatly enhance the Company’s ability to reorganize successfully and expeditiously.

  • After weeks of active and arm’s-length negotiations, the Company, in consultation with its advisors, reached agreement on the terms of the Plan with the Consenting Creditors, representing approximately 92% by principal amount in the aggregate of the Holders of Prepetition First Lien Secured Claims, Prepetition Second Lien Secured Claims, and Prepetition Third Lien Secured Claims.

  • Such loss may be ordinary, but the tax law is unclear on this point.Under the Plan, except as otherwise specified, distributions in respect of Allowed Prepetition First Lien Secured Claims, Prepetition Second Lien Secured Claims, or Prepetition Third Lien Secured Claims will be allocated first to the stated principal amount of such Claims, with any excess allocated to Accrued Interest.

  • Further, the Prepetition Second Lien Secured Claims are senior to the Prepetition Third Lien Secured Claims pursuant to a Junior Lien Intercreditor Agreement dated as of May 19, 2016, as amended.

Related to Third Lien Secured Claims

  • Second Lien Secured Parties means the Indenture Second Lien Secured Parties and the Additional Second Lien Secured Parties.

  • First Lien Secured Parties means (i) the Credit Agreement Secured Parties and (ii) the Additional First-Lien Secured Parties with respect to each Series of Additional First-Lien Obligations.

  • Second Lien Security Documents means all “Security Documents” as defined in the Second Lien Credit Agreement, and all other security agreements, mortgages, deeds of trust and other security documents executed and delivered in connection with any Second Lien Credit Agreement, in each case as the same may be amended, supplemented, restated or otherwise modified from time to time.

  • First Lien Security Documents means the Security Documents (as defined in the First Lien Credit Agreement) and any other agreement, document or instrument pursuant to which a Lien is granted or purported to be granted securing any First Lien Obligations or under which rights or remedies with respect to such Liens are governed.

  • Priority Lien Secured Parties means the holders of Priority Lien Obligations, each Priority Lien Representative and the Collateral Trustee.

  • Priority Lien Security Documents means the Priority Credit Agreement (insofar as the same grants a Lien on the Collateral), each agreement listed in Part A of Exhibit B hereto, and any other security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, control agreements, or grants or transfers for security, now existing or entered into after the date hereof, executed and delivered by the Borrower or any other Grantor creating (or purporting to create) a Lien upon Collateral in favor of the Priority Lien Agent (including any such agreements, assignments, mortgages, deeds of trust and other documents or instruments associated with any Priority Substitute Credit Facility).

  • Additional First Lien Secured Parties means the holders of any Additional First Lien Obligations and any trustee, authorized representative or agent of such Additional First Lien Obligations.

  • Second Lien Security Agreement means the “Security Agreement” as defined in the Second Lien Credit Agreement.

  • 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;

  • First Lien Security Agreement means the “Security Agreement” as defined in the First Lien Credit Agreement.

  • Prepetition Secured Parties means the lender parties under the Prepetition Credit Facilities and the beneficial holders of the Prepetition Secured Notes.

  • First Lien/Second Lien Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit H hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Borrower, in each case, as such document may be amended, restated, supplemented or otherwise modified from time to time.

  • Additional First Lien Secured Party means the holders of any Additional First-Lien Obligations and any Authorized Representative with respect thereto, and shall include the Initial Additional First-Lien Secured Parties.

  • DIP Facility Claims means all Claims held by the DIP Facility Agent and the DIP Facility Lenders pursuant to the DIP Facility Agreements and the Final DIP Order.

  • Secured Claim means a Claim that is secured by a Lien on property in which any of the Debtors’ Estates have an interest or that is subject to setoff under section 553 of the Bankruptcy Code, to the extent of the value of the Claim holder’s interest in such Estate’s 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 or, in the case of setoff, pursuant to section 553 of the Bankruptcy Code.

  • Second Lien Facility means the second lien term loan facility under the Second Lien Credit Agreement.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • Second Lien Obligations means the “Obligations” as defined in the Second Lien Credit Agreement.

  • Second Lien Noteholders means the holders of the Second Lien Notes.

  • Secured Creditors shall have the meaning assigned that term in the respective Security Documents.

  • Required Secured Creditors means (i) at any time when any Credit Document Obligations are outstanding or any Commitments under the Credit Agreement exist, the Required Lenders (or, to the extent provided in Section 13.12 of the Credit Agreement, each of the Lenders) and (ii) at any time after all of the Credit Document Obligations have been paid in full and all Commitments under the Credit Agreement have been terminated and no further Commitments may be provided thereunder, the holders of a majority of the Other Obligations.

  • First Lien Claims means, collectively, Claims against the Debtors arising under the Prepetition Term Loan Agreement.

  • Allowed Secured Claim means an Allowed Claim secured by a lien, security interest or other charge against property in which the Estate has an interest, or which is subject to setoff under Section 553 of the Bankruptcy Code, to the extent of the value, determined in accordance with Section 506(a) of the Bankruptcy Code, of the interest of the holder of such Allowed Secured Claim in the Estate's interest in such property, or to the extent of the amount subject to any setoff, as the case may be.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Noteholder Claims means all Obligations in respect of the Notes or arising under the Noteholder Documents or any of them, including all fees and expenses of the Trustee thereunder.

  • Second Lien Loan Documents means the Second Lien Credit Agreement and the other “Loan Documents” under and as defined in the Second Lien Credit Agreement, as each such document may be amended, renewed, restated, supplemented or otherwise modified from time to time.