Unsecured Creditors Fund definition

Unsecured Creditors Fund means the fund in the amount of $5,000,000 created pursuant to Section 4.5.2 of this Plan;
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Unsecured Creditors Fund means all Cash held by the Plan Administrator from the sale and liquidation of the Debtor’s Assets and the enforcement of the Causes of Action remaining after the payment of: (a) Priority Claims; (b) Administrative Claims;(c) the DIP Credit Facility Claim; (d) the Insurance Financing Claim; (e) Allowed Secured Claims; (f) the pre- and post-Confirmation U.S. Trustee Fees; and (g) Liquidating WLCC and the Plan Administrator’s costs and expenses, including the fees and costs of professionals retained by the Plan Administrator and the Wind Down Committee, if any; provided, however, notwithstanding anything herein to the contrary, the Unsecured Creditors Fund shall include the amounts set forth in the third to the last sentence of Section 3.2.21(c) of the Creditor’s Plan.
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Unsecured Creditors Fund means $450,000 of the Cash of CPI, which will be carved out for the benefits of the holders of Allowed General Unsecured Claims in the CPI Chapter 11 Case for distribution under the Plan. The $450,000 shall be comprised of$200,000 in Cash funded by the Lenders on the Effective Date, and $250,000 of Tax Credits. The Unsecured Creditors’ Fund shall not constitute the Lenders’ Cash Collateral and the Lenders have waived any right to the Unsecured Creditors’ Fund on account of their Class 3 Claim.
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Examples of Unsecured Creditors Fund in a sentence

  • Any amounts remaining in the Administrative Reserve after all Estate Expenses are paid shall be deposited into the Unsecured Creditors Fund and shall become available for Distribution to holders of Allowed Claims in the priority of payment provided for in accordance with the provisions of the Plan.

  • Purchaser has, and will at the Effective Time have, sufficient funds available to pay the Unsecured Creditors' Fund.

  • Any inter-company claims by any of the Debtors which may be on the books for accounting purposes shall not share in the Unsecured Creditors Fund and shall be eliminated.

  • Debtors will contribute cash to the AAT II Unsecured Creditors Fund in the amounts of $30,000 in 2017, $60,000 in 2018, and $120,000 in 2019.

  • The Disbursing Agent or Unsecured Creditors Fund Administrator shall not be required to distribute Cash to any Creditor if the amount of Cash to be distributed to such Creditor is less than $5.00.

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  • Each such Holder shall receive its pro rata share of $210,000.00 in Cash (the "AAT II Unsecured Creditors Fund").

  • Nothing contained herein shall be deemed to waive the Debtors' statutory or common law right of setoff, which may be enforced as to Class 4 Claims by the Unsecured Creditors Fund Administrator.

  • After the Effective Date, the Unsecured Creditors Fund Administrator shall have the sole right to object to or seek the estimation of any Claims which are to be paid from the Unsecured Creditors Fund.

  • Purchaser will cause AcquisitionCo to perform all of Purchaser's obligations under the Arrangement, including any obligations insofar as payment obligations to be made by the Purchaser including the Unsecured Creditors' Fund.


More Definitions of Unsecured Creditors Fund

Unsecured Creditors Fund means the fund to be established for payment of Allowed Unsecured Claims in the amount of $25,000.00, less (1) any Priority Tax Claims, (2) any Allowed Professional Fee Claims that exceed the Professional Fee Reserve, (3) other Allowed Administrative Claims which first arise on or after the Petition Date, and/or (4) Allowed costs and expenses of the Debtors, post the Effective Date for the duties and obligations required under the Plan to “wind down” the Debtors, including, but not limited to, costs and expenses of the Disbursement Agent in excess of the estimate for such Disbursement Agent, as provided for in the estimate required by Section 13.1 of the Plan which first arise on or after the Effective Date. The Unsecured Creditors Fund shall be allocated ratably among the unsecured Creditors of New Century, Gulf Coast and Century Resources.
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Unsecured Creditors Fund means all Cash proceeds to be used for payment of distributions to Allowed Unsecured Claims in Class 2.
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Unsecured Creditors Fund means the funds payable to Allowed Unsecured Creditors consisting of the Unsecured Creditors Carve Out and the net recoveries from Causes of Action.
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Related to Unsecured Creditors Fund

  • Unsecured Creditors means, collectively, the Preferred Creditors and the Ordinary Creditors; and

  • Unsecured Creditor means the holder of an Unsecured Claim.

  • Unsecured Claim means a Claim that is not an Administrative Claim, a Priority Tax Claim, a Priority Claim, or a Secured Claim.

  • General Unsecured Claim means any Claim that is not a/an: Administrative Claim; DIP Facility Claim; Professional Fee Claim; Priority Tax Claim; Secured Tax Claim; Other Priority Claim; Other Secured Claim; Intercompany Claim; Prepetition Debt Claim; or 510(b) Equity Claim.

  • 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.

  • Unsecured Claims means claims which are not secured by any property of the Debtor’s Estate and which are not part of any other class defined in this Plan.

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

  • General Unsecured Claims means Claims against any Debtor that are not Secured Claims, Administrative Claims, Priority Claims, Professional Compensation Claims, Intercompany Claims, or Equity Interests.

  • Allowed Unsecured Claim means all or that portion of an Unsecured Claim which is an Allowed Claim.

  • Subordinated Creditors means all creditors the indebtedness of which is subordinated, in the event of the Winding-Up of DSB, in right of payment to the claims of depositors and other unsubordinated creditors of DSB other than those whose claims rank or is expressed to rank by operation of law or contract pari passu with, or junior to, the claims of the Noteholders. For this purpose indebtedness shall include all liabilities, whether actual or contingent;

  • Secured Creditor means the Trustee, the Margin Loan Provider and the holders of the ETP Securities.

  • Subordinated Creditor means any creditor of Tenant which is a party to a Subordination Agreement in favor of Landlord.

  • Subordinated Intercompany Debt shall have the meaning assigned to such term in Section 6.01(e).

  • Senior Secured Credit Agreement means the Amended and Restated Credit Agreement dated as of July 31, 2008 among the Company, as Borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders parties thereto from time to time, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings or refinancings thereof and any indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 1111).

  • Subordinated Claim means a Claim of the kind described in sections 726(a)(3) or 726(a)(4) of the Bankruptcy Code and/or Claims subordinated under sections 510(b) or 510(c) of the Bankruptcy Code.

  • 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;

  • Subordinated Claims shall have the meaning set forth in Section 3.6(c)(i) hereof.

  • Administrative Claims means Claims that have been filed timely and properly before theAdministrative Claims Bar Date set forth in the Confirmation Order (except as otherwise provided by a separate order of the Bankruptcy Court), for costs and expenses of administration under sections 503(b), 507(b), or 1114(e)(2) of the Bankruptcy Code, including, without limitation: the actual and necessary costs and expenses incurred after the Petition Date of preserving the Estates and operating the businesses of the Debtors (such as wages, salaries or commissions for services and payments for goods and other services and leased premises). Any fees or charges assessed against the Estates under section 1930 of chapter 123 of title 28 of the United States Code are excluded from the definition of Administrative Claims and shall be paid in accordance with Article V.N of the Plan. Notwithstanding anything to the contrary in this Plan, the filing of an Administrative Claim shall not be required in order to receive payment for any tax liability described in sections 503(b)(1)(B) and (C) in accordance with section 503(b)(1)(D) of the Bankruptcy Code.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Second Lien Notes Trustee “Second Lien Noteholder”, “High Yield Agent”, “HY Borrower”, “High Yield Creditor”, “High Yield Lender”, “Unsecured Agent”, “Unsecured Lender”, “Security Agent”, “Security Grantor”, “Senior Agent”, “Senior Arranger”, “Senior Borrower”, “Senior Creditor”, “Senior Guarantor”, “Senior Lender”, “Senior Secured Notes Guarantor”, “Senior Secured Notes Issuer”, “Senior Secured Notes Trustee”, “Senior Secured Noteholder”, “Subordinated Creditor”, “Permitted Affiliate Parent”, the “Company” or any other person shall be construed so as to include its successors in title, permitted assigns and permitted transferees and, in the case of the Security Agent, any person for the time being appointed as Security Agent or Security Agents in accordance with this Agreement;

  • 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.

  • Administrative Claim means a Claim for costs and expenses of administration of the Estates under sections 503(b), 507(a)(2), 507(b), or 1114(e)(2) of the Bankruptcy Code, including: (a) the actual and necessary costs and expenses incurred on or after the Petition Date of preserving the Estates and operating the businesses of the Debtors; (b) Allowed Professional Fee Claims in the Chapter 11 Cases; and (c) all fees and charges assessed against the Estates under chapter 123 of title 28 of the United States Code, 28 U.S.C. §§ 1911-1930.

  • Priority Claims means, collectively, Priority Tax Claims and Other Priority Claims.

  • Senior Creditors means, (a) depositors of the Issuer, (b) creditors of the Issuer who are unsubordinated creditors of the Issuer, and (c) creditors of the Issuer whose claims are or are expressed to be subordinated to the claims of other creditors of the Issuer (other than those whose claims are in respect of obligations which constitute, or would but for any applicable limitation on the amount of such capital, constitute, Tier 1 capital or Tier 2 capital or whose claims rank or are expressed to rank pari passu with, or junior to, the claims of holders in respect of the Notes) (whether only in a Winding Up of the Issuer or otherwise);

  • 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.

  • Senior Secured Credit Facilities means the revolving credit facility and other credit facilities under the Credit Agreement, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings, refinancings or replacements thereof and any one or more indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund, supplement or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 4.09 hereof) or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, trustee, lender or group of lenders or holders.