Unsecured Deficiency Claim definition

Unsecured Deficiency Claim means, with reference to a Claim secured by a Lien against Collateral, an amount equal to the difference between (a) the aggregate amount of such Claim after giving effect to the operation of section 1111(b)(1)(A) of the Bankruptcy Code and (b) the amount of such Claim that is a Secured Claim; provided, however, that, in the event that the Class in which such Secured Claim is classified makes the election under section 1111(b)(2) of the Bankruptcy Code in accordance with Rule 3014 of the Bankruptcy Rules, the Unsecured Deficiency Claim otherwise relating to such Secured Claim shall be extinguished. An Unsecured Deficiency Claim is an Unsecured Claim.

Unsecured Deficiency Claim means, with respect to a Claim that is secured by a Lien on property in which any Debtor’s Estate has an interest or that is subject to setoff under section 553 of the Bankruptcy Code, the amount by which the Face Amount of such Claim exceeds the value of the Claim holder’s interest in such Estate’s interest in such property or 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.

Unsecured Deficiency Claim means the portion of any Secured Debt Claim that is not Secured.

Examples of Unsecured Deficiency Claim in a sentence

• The Bankruptcy Code § 1111(b)(2) Election converts an Unsecured Deficiency Claim into a Claim secured by the collateral of the electing Creditor.

• Notwithstanding section 4.2(a) above, each Proven Affected Banro Unsecured Creditor with respect to its Affected Banro Unsecured Deficiency Claim waives their right under this Plan to receive any distribution from the Affected Banro Unsecured Pool.

• RCG believes that the issue is moot for the purposes of the RCG Plan, as RCG is agreeing to accept the New Equity Interests in full satisfaction of the balance of the RCG Unsecured Deficiency Claim, rather than have the claim participate in the cash recovery being offered to General Unsecured Claims, which would substantially reduce their recovery.

• Any Unsecured Deficiency Claim asserted by a holder of an Allowed Secured Claim in Class 4 shall be filed with the Bankruptcy Court within 30 days following the date of the surrender or abandonment of such Creditor's Collateral.

• Accordingly, if the Bankruptcy Court enters an order confirming the RCG Plan, that order will provide that the $756,137.48 in 362(d)(3) payments will be applied to reduce the RCG Unsecured Deficiency Claim to $3,143,317.22 and that claim, as reduced, will be satisfied by receipt of the New Equity Interests.

More Definitions of Unsecured Deficiency Claim

Unsecured Deficiency Claim means any portion of a Claim to the extent that the value of the Creditor's interest in the Estate's interest in any property securing the Claim is less than the amount of the Claim, or to the extent that the amount of any Claim subject to setoff is less than the amount of such Claim, as determined pursuant to section 506(a) of the Bankruptcy Code.

Unsecured Deficiency Claim means any Claim by a Person holding a Secured Claim to the extent the value of such Creditor's collateral, as determined in accordance with Section 506(a) of the Bankruptcy Code, is less than the Allowed amount of such Creditor's Claims as of the Petition Date, after taking into account any elections made pursuant to Section 1111(b) of the Bankruptcy Code.

Unsecured Deficiency Claim means any portion of an Other Secured Claim to the extent that the value of the Collateral securing the Other Secured Claim is less than the amount of such Other Secured Claim, or to the extent that the amount of any such Other Secured Claim subject to a setoff is less than the amount of such Other Secured Claim, as determined pursuant to Section 506(a) of the Bankruptcy Code.

Unsecured Deficiency Claim means the portion of any Secured Debt Claim that is not

Unsecured Deficiency Claim means the unsecured claim of the Prepetition Secured Lenders representing the difference between the Face Amount of their Claim against the Debtors and the amount of their Allowed Secured Claim.

Unsecured Deficiency Claim means a Claim by a Person holding a Secured

Unsecured Deficiency Claim means an unsecured Claim in an amount