Unsecured Creditors Trust definition

Unsecured Creditors Trust means the trust to be established pursuant to the Unsecured Creditors Trust Agreement to (a) receive the Distributions intended for holders of Allowed Class 4A Claims and to Distribute those funds to those holders as their Claims are Allowed; (b) prosecute, settle, or otherwise resolve objections to Unsecured Claims (other than NWI claims); and (c) hold and distribute any proceeds received from the Creditors' Committee Action. With respect to any action required or permitted to be taken by the "Unsecured Creditors Trust," the term includes a trustee or any other person authorized to take such action in accordance with the Unsecured Creditors Trust Agreement.
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Unsecured Creditors Trust means the trust to be established pursuant to the GGI Creditors Trust and Disbursement Agreement dated as of the Confirmation Date by and among GGI, EALP and the Official Committee and the Trustee named therein, which will be in form and substance satisfactory to the Debtor and the Official Committee and which will be approved by the Bankruptcy Court pursuant to the Confirmation Order.
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Unsecured Creditors Trust has the meaning set forth in the Plan.
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Examples of Unsecured Creditors Trust in a sentence

  • Gumbs, as Trustee for the General Unsecured Creditors’ Trust, to Almelo Private Limited’s Proofs of Claim Nos.

  • Lightfoot, Jr., the trustee of the Unsecured Creditors’ Trust established by MBSMS’s bankruptcy plan, was substituted into this litigation for MBSMS as Plaintiff.

  • Section 10 permit types, who should apply, how they work and more info link.

  • On the Effective Date, all of the assets of the Debtor, including all unencumbered property and all causes of action, other than the assets contained in the Secured Lenders’ Trust, shall be transferred to the Unsecured Creditors’ Trust, which will form the property of the Reorganized Debtor.

  • Except as otherwise provided in this Plan, the Trustee or disbursing agent appointed by the Committee shall make the distributions from the Unsecured Creditors’ Trust as required to be made to all Holders of Allowed Claims, including, but not limited to, Administrative Claims, Priority Claims and any sums due the United States Trustee in accordance with Article V herein, other than to the Secured Lenders.

  • Limited Joinder of Debtor-in Possession Lenders United States Department of the Treasury and Export Development Canada in Objection of Avoidance Action Trust to Motion of General Unsecured Creditors’ Trust for Settlement Approval Pursuant to Bankruptcy Rule 9019 (ECF 14714).

  • Each Holder of an Allowed Unsecured Creditors’ Claim shall receive an equity interest in the Reorganized Debtor based on the pro rata share of the Unsecured Creditors’ Trust based on the amount of the creditors’ Allowed Claim.

  • As soon as possible after the Effective Date, the Unsecured Creditors’ Trustee shall make good faith valuations of the Unsecured Creditors’ Trust.

  • If a Disputed Claim becomes an Allowed Claim, TreeCo or the Unsecured Creditors’ Trust Trustee will make a distribution in accordance with the terms of the Planapplicable to Claims of the Class in which that Claim resides.

  • The Unsecured Creditors’ Trustee shall use the Initial Funding Amount and the Litigation Trust Proceeds to cover the fees, expenses, and costs of the Unsecured Creditors’ Trust.


More Definitions of Unsecured Creditors Trust

Unsecured Creditors Trust means the irrevocable trust to be established on the Effective Date to hold and distribute the Unsecured Creditors Trust Assets and perform other duties, all as more particularly described in Article 10 of the Plan and in the Unsecured Creditors Trust Agreement.
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Unsecured Creditors Trust means the Trust formed pursuant to this Plan which shall be comprised of all assets of the Debtor, including causes of action, other than those assets that are included in the Secured Lenders’ Trust.
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Unsecured Creditors Trust means that certain trust to be created on the Effective Date in accordance with the provisions of the Unsecured Creditors Trust Agreement.
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Related to Unsecured Creditors Trust

  • Unsecured Creditors means all Creditors with Concurrent Claims against the Company;

  • Unsecured Creditor means the holder of an Unsecured Claim.

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

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

  • 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 Claim means any Claim that is not a Secured Claim.

  • 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);

  • 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.

  • Senior Secured Credit Agreement means that certain Credit Agreement, dated as of September 27, 2018, among the Borrowers, the lenders from time to time party thereto, JPMCB as administrative agent, JPMCB as collateral agent, and the other parties thereto, as amended, restated, amended, restated, extended, supplemented, refinanced or otherwise modified from time to time.

  • Senior Creditor means a holder or holders of Senior Indebtedness and includes any representative or representatives, agent or agents or trustee or trustees of any such holder or holders;

  • 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.

  • 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.

  • 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;

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

  • Second Lien Notes Trustee “Second Lien Noteholder”, “High Yield Agent”, “HY Borrower”, “High Yield Creditor”, “High Yield Lender”, “Unsecured Agent”, “Unsecured Borrower”, “Unsecured Creditor”, “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” or the “Company” shall be construed to be a reference to it in its capacity as such and not in any other capacity;

  • Junior Creditor means any Defaulting Bank which has not (x) fully cured each and every default on its part under the Loan Documents and (y) unconditionally tendered to the Administrative Agent such Defaulting Bank’s Pro Rata Share of all costs, expenses and disbursements required to be paid or reimbursed pursuant to the terms of the Loan Documents.

  • 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).

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

  • 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;

  • 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.

  • 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.

  • Subordinated Claims means the aggregate amount of all claims admitted in the winding up or dissolution of the Issuer which rank, or are expressed to rank, junior to claims in respect of the Senior Non-Preferred Notes or other Senior Non-Preferred Claims, including (without limitation) (i) claims of creditors in respect of the Subordinated Notes and (ii) the obligations of the Issuer which constitute, or would but for any applicable limitation on the amount of such capital constitute, Tier 2 Capital, Additional Tier 1 Capital or CET1 Capital, including, for the avoidance of doubt, all claims in respect of Deferred Shares.

  • Notes Trustee has the meaning assigned to such term in the Recitals to this Agreement.

  • Liquidating Trust means the liquidating trust maintained by the Trustee holding the Trust Assets of the Partnership, identified as the "PLM Equipment Growth Fund III Liquidating Trust"; also referred to herein as the "Trust."

  • 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.

  • Liquidating Trust Agreement means an agreement evidencing the terms and provisions governing a Liquidating Trust that shall be entered into prior to the establishment of such Liquidating Trust and pursuant to which a Liquidating Trustee shall manage and administer Liquidating Trust Assets.