General Creditors definition

General Creditors means the unsecured general creditors of the Company, including the Participants.
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General Creditors means the persons for the time being and from time to time having claims against the Member to the extent that such claims are not at any such time subordinated, or are not required by the MFDA Rules to be subordinated, in favour of other creditors of the Member;
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General Creditors. Meeting” or “AGC” means any General Creditors’ Meeting held under the terms of Chapter II, Section IV of the LFR.
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Examples of General Creditors in a sentence

  • If the Company shall be wound up, the liquidator shall apply the Segregated Portfolio Assets and the General Assets in accordance with the Act in satisfaction of the claims of the Segregated Portfolio Creditors and the General Creditors.

  • In the event that amounts are paid from the Trust Fund to General Creditors of the Company, then as soon as practicable after the Company is no longer Insolvent, the Company shall deposit into the Trust Fund a sum to equal to the Funding Amount, determined as of the date the Company is no longer Insolvent, which date shall be a Valuation Date.

  • At all times during the continuance of this Trust, as provided in this Article VII hereof, the principal and income of the Trust Fund shall be subject to the claims of General Creditors under federal and state law.

  • The Board of Directors and the Chief Executive Officer of the Company shall have the fiduciary duty and responsibility on behalf of General Creditors to notify the Trustee promptly in writing in the event the Company is Insolvent, and the Trustee shall have the right to rely thereon to the exclusion of all directions or claims for payment made thereafter by Participants.

  • At all times during the continuance of this Trust as provided in this Section 7 hereof, the principal and income of the Trust Fund shall be subject to the claims of General Creditors under federal and state law.

  • All Annual Fees and/or Equity Awards deferred under this Plan shall continue for all purposes to be a part of the general funds or unissued shares of the Company.5.4. Participants’ Status as General Creditors.

  • If at any time the Trustee has received notice as provided below that the Employers are Insolvent, the Trustee shall discontinue payments to Participants and Beneficiaries, and shall hold assets of the Trust Fund for the benefit of the General Creditors of the Employers, pursuant to the provisions of Section 7.3, with no preference whatsoever given claims of employees over claims of other general unsecured creditors of the Employers.

  • All assets of the Trust Fund and of each investment fund, and the income thereon, shall be held and invested as a single fund, and the Trustee shall not make any separate investment of the Trust Fund, or make any separate investment fund, for the account of any Participant or other General Creditors prior to receipt of directions to make payments to such Participant or other General Creditors in accordance with Article VI or Article VII.

  • If at any time the Trustee has received notice as provided below that Company is Insolvent, Trustee shall discontinue payments to Participants, and shall hold assets of the Trust Fund for the benefit of the Company's General Creditors, pursuant to the provisions of Section 7.3, with no preference whatsoever given claims of employees or Participants over claims of other unsecured creditors of the Company.

  • The Trust shall be irrevocable from the Effective Date, and the assets of the Trust Fund shall be held in accordance with the provisions hereof for the purpose of providing assets to assist the Employers in meeting the obligations to Participants under the Plan and to satisfy the claims of General Creditors in the event of Insolvency, and defraying the expenses of the Trust.


More Definitions of General Creditors

General Creditors means the general unsecured creditors of the Employers.
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General Creditors means the persons (other than the Principal) now and from time to time having claims against the Firm; and
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General Creditors means any person or entity to whom Manhattan Re is or may be indebted for any obligation, other than an obligation arising out of the terms and
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General Creditors means the unsecured general creditors of the Company, including without any priority the Participants.
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General Creditors means CWK General Creditors, CNC/CNT General Creditors, and PTI General Creditors.
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General Creditors means the persons for the time being and from time to time having claims against the Dealer Member to the extent that such claims are not at any such time subordinated, or are not required by the MFD Rules to be subordinated, in favour of other creditors of the Dealer Member;
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Related to General Creditors

  • financial creditor means any person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred to;

  • 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;

  • operational creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred;

  • 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);

  • Federal Credit means the Georgia Housing Tax Credit established by the federal government for the purpose of encouraging the development of affordable housing and governed by the Code.

  • Creditors Committee” means the official committee of unsecured creditors appointed in the Chapter 11 Cases pursuant to section 1102(a) of the Bankruptcy Code.

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

  • Senior Lenders means each of the lenders from time to time under the Senior Credit Agreement.

  • Lender Creditors shall have the meaning provided in the recitals of this Agreement.

  • 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;

  • Debtors has the meaning set forth in the Recitals.

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

  • 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.

  • Federal credit union means a credit union chartered under the Federal Credit Union Act.

  • Second Lien Claimholders means, at any relevant time, the holders of Second Lien Obligations at that time, including the Second Lien Lenders and the agents under the Second Lien Loan Documents.

  • Claimholders means each of the First Lien Claimholders and the Second Lien Claimholders.

  • Prepetition Lenders means those lenders party to the Prepetition Credit Agreement from time to time.

  • Debtor means a person who is liable on a claim.

  • Universal Credit means any payment of Universal Credit payable under the Welfare Reform Act 2012, the Universal Credit Regulations 2013, The Universal Credit (Consequential, Supplementary, Incidental and Miscellaneous Provisions) Regulations 2013, Universal Credit (Miscellaneous Amendments) Regulations 2013 and the Universal Credit (Transitional Provisions) Regulations 2014;

  • Interests of the beneficiaries means the beneficial interests provided in the terms of the trust.

  • Original Credit Agreement shall have the meaning assigned to such term in the recitals hereto.

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

  • Unsecured Creditor means the holder of an Unsecured Claim.

  • Prepetition means arising or accruing prior to the Petition Date.

  • First Lien Claimholders means, at any relevant time, the holders of First Lien Obligations at that time, including the First Lien Lenders and the agents under the First Lien Loan Documents.

  • Senior Lender means each holder of a Senior Note.