Preference Payments definition

Preference Payments. Any monies Lender pays because of an asserted preference claim in Borrower's or Grantor's bankruptcy will become a part of the Indebtedness and, at Lender's option, shall be payable by Borrower and Grantor as provided in this Agreement.
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Preference Payments. Any monies Lender pays because of an asserted preference claim in Borrower's bankruptcy will become a part of the indebtedness and, at Lender's option, shall be payable by Borrower as provided above in the "Expenditures by Lender" paragraph. Sever ability: If a court of competent jurisdiction finds any provision of this Agreement to be invalid or unenforceable as to any person or circumstance, such finding shall not render that provision invalid or unenforceable as to any other persons or circumstances. If feasible, any such offending provision shall be deemed to be modified to be within the limits of enforceability or validity; however, if the offending provision cannot be so modified, it shall be stricken and all other provisions of this Agreement in all other respects shall remain valid and enforceable. Successor Interests: Subject to the limitations set forth above on transfer of the Collateral, this Agreement shall be binding upon and inure to the benefit of the parties, their successors and assigns. Waiver: Lender shall not be deemed to have waived any rights under this Agreement unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Agreement shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Agreement. No prior waiver by Lender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Waiver of Co-Obligor's Rights: If more than one person is obligated for the indebtedness, Borrower irrevocably waives, disclaims and relinquishes all claims against such other person which Borrower has or would otherwise have by virtue of payment of the indebtedness or any part thereof, specifically including but not limited to all rights of indemnity, contribution or exoneration. EACH GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS COMMERCIAL SECURITY AGREEMENT, AND EACH GR...
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Preference Payments. Any monies Lender pays because of an asserted preference claim in Grantor's bankruptcy will become a part of the Indebtedness and, at Lender's option, shall be payable by Grantor as provided in this Agreement.
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Examples of Preference Payments in a sentence

  • Each of the Fraudulent Transfers is avoidable pursuant to sections 544 and 548 of the Bankruptcy Code, and each of the Preference Payments is avoidable pursuant to section 547 of the Bankruptcy Code, and as a result, each of the Fraudulent Transfers and Preference Payments is recoverable by Plaintiff pursuant to section 550 of the Bankruptcy Code.

  • As stated above, the cost to the Estate of continued litigation of the Preference Payments may exceed the amount of the Settlement Payment, further demonstrating that the Settlement Agreement is in the best interests of creditors.

  • There is a dispute as to whether the Liquidating Trust may avoid and recover the Preference Payments pursuant to section 547 of the Bankruptcy Code.

  • Although the dispute regarding the Preference Payments is not a complex one, the Liquidating Trust believes that litigation, including a summary judgment motion and/or trial and any appeal would require the expenditure of $10,000.00 or more before a final judgment is entered.

  • The Amended Complaint fails to allege a sufficient basis to permit Trustee to pursue the Preference Payments made to PC under Count VII except to the extent the Amended Complaint asserts that PC is the initial transferee of the Preference Payments from U.S. Coal.

  • Count VII asserts a claim against PC under § 547 for transfers made to PC on or within 90 days before the “Petition Date,” i.e., the Preference Payments.15 No paragraph in the Amended Complaint details any aspects of any specific transfer to be avoided; the Paragraph with the most information about the Preference Payments states “[w]ithin 90 days prior to the entry of the Order of Relief, U.S. Coal paid the Defendant $135,000.00.” [Am. Compl.

  • The broad idea is to collect occurrences of terms related to economic uncertainty.

  • Upon any such liquidation, dissolution or winding up of the Corporation, immediately after the holders of Series B Convertible Preferred Stock shall have been paid in full the Liquidation Preference Payments, the remaining net assets of the Corporation available for distribution shall be distributed among the holders of stock ranking junior to the Series B Convertible Preferred Stock with respect to rights and preferences upon liquidation.

  • Section G - Preference Payments and Transfers at Under Value The Trustee is reviewing the bank statements for the three months preceding bankruptcy for arm’s length transactions and twelve months preceding bankruptcy for transactions with related parties.

  • Pursuant to the Settlement Agreement, MSK is returning substantially the entire amount of the Preference Payments and is withdrawing its proof of claim in the Debtor’s Bankruptcy Case.


More Definitions of Preference Payments

Preference Payments. Any monies Lender pays because of an asserted preference claim in Borrower's bankruptcy will become a part of the Indebtedness and, at Lender's option, shall be payable by Borrower as provided above in the "EXPENDITURES BY LENDER" paragraph.
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Preference Payments means the fixed quarterly payments due on the Series A Preferred Units at the rate of $0.50 per such Unit per annum as indicated in Section 6.3 hereof.
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Preference Payments. Any monies RGS pays because of an asserted preference claim in Debtor's bankruptcy will become a part of the Indebtedness and, at RGS' option, shall be payable by Debtor as provided in this Agreement. NO WAIVER BY RGS. RGS shall not be deemed to have waived any rights under this Agreement unless such waiver is given in writing and signed by RGS. No delay or omission on the part of RGS in exercising any right shall operate as a waiver of such right or any other right. A waiver by RGS of a provision of this Agreement shall not prejudice or constitute a waiver of RGS' right otherwise to demand strict compliance with that provision or any other provision of this Agreement. No prior waiver by RGS, nor any course of dealing between RGS and Debtor, shall constitute a waiver of any of RGS' rights or of any of Debtor's obligations as to any future transactions. Whenever the consent of RGS is required under this Agreement, the granting of such consent by RGS in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of RGS.
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Related to Preference Payments

  • Preference Amount means any amount previously distributed to an Owner on the Obligations that is recoverable and sought to be recovered as a voidable preference by a trustee in bankruptcy pursuant to the United States Bankruptcy Code (11 U.S.C.), as amended from time to time, in accordance with a final nonappealable order of a court having competent jurisdiction.

  • Liquidation Preference Amount means $25,000 per share of Series A Preferred Stock.

  • Series A Liquidation Preference means a liquidation preference for each Series A Preferred Unit initially equal to $25.00 per unit, which liquidation preference shall be subject to increase by the per Series A Preferred Unit amount of any accumulated and unpaid Series A Distributions (whether or not such distributions shall have been declared).

  • Subordinate Liquidation Amount For any Distribution Date and each Loan Group, the excess, if any, of the aggregate Liquidation Principal of Mortgage Loans related to that Loan Group which became Liquidated Mortgage Loans during the prior calendar month over the related Senior Liquidation Amount for that Distribution Date.

  • Series C Liquidation Preference means a liquidation preference for each Series C Preferred Unit initially equal to $25.00 per unit (subject to adjustment for any splits, combinations or similar adjustments to the Series C Preferred Units), which liquidation preference shall be subject to increase by the per Series C Preferred Unit amount of any accumulated and unpaid Series C Distributions (whether or not such distributions shall have been declared).

  • Senior Liquidation Amount For any Distribution Date, the sum of (A) the aggregate, for each Mortgage Loan which became a Liquidated Mortgage Loan during the Prior Period, of the lesser of: (i) the Senior Percentage of the Principal Balance of such Mortgage Loan and (ii) the Senior Prepayment Percentage of the Liquidation Principal with respect to such Mortgage Loan and (B) the Senior Prepayment Percentage of any Subsequent Recoveries for such Distribution Date.

  • Series B Liquidation Preference means a liquidation preference for each Series B Preferred Unit initially equal to $25.00 per unit, which liquidation preference shall be subject to increase by the per Series B Preferred Unit amount of any accumulated and unpaid Series B Distributions (whether or not such distributions shall have been declared).

  • Series A Liquidation Value means the sum of the Series A Liquidation Preference and declared and unpaid distributions, if any, to, but excluding, the date of the Dissolution Event on the Series A Preferred Mirror Units.

  • Liquidation Amount means $1,000 per share of Designated Preferred Stock.

  • Interest Distribution Amount With respect to any Distribution Date and any Class A Certificates, any Mezzanine Certificates and any Class CE Certificates, the aggregate Accrued Certificate Interest on the Certificates of such Class for such Distribution Date.

  • 10% in Liquidation Amount means, except as provided in the terms of the Capital Securities or by the Trust Indenture Act, Holder(s) of outstanding Securities, voting together as a single class, or, as the context may require, Holders of outstanding Capital Securities or Holders of outstanding Common Securities, voting separately as a class, who are the record owners of 10% or more of the aggregate liquidation amount (including the stated amount that would be paid on redemption, liquidation or otherwise, plus accumulated and unpaid Distributions to the date upon which the voting percentages are determined) of all outstanding Securities of the relevant class.

  • Class Interest Distribution Amount As to each RCR Class and each Distribution Date, an amount equal to interest accrued during the related Interest Accrual Period (computed on the basis of a 360-day year consisting of twelve 30-day months) at the applicable Interest Rate on the Class Balance thereof immediately prior to such Distribution Date.

  • Class A Interest Distribution Amount means, as to each Class of Class A Certificates and any Remittance Date, the sum of the amounts specified in clause (a)(i), (a)(ii), (a)(iii), (a)(iv), (a)(v) and (a)(vi), as appropriate, of the definition of the term "Class A Formula Distribution Amount" and the Unpaid Class A Interest Shortfall, if any, with respect to such Class.

  • Nominal Liquidation Amount means, notwithstanding anything to the contrary in the Indenture Supplement, with respect to the Class C(2020-5) Notes:

  • Initial Liquidation Preference means one thousand dollars ($1,000.00) per share of Convertible Preferred Stock.

  • Amortization Amount shall have the meaning provided in Section 5.2(c).

  • Cash Flow Distribution Amount As to any calendar month, the aggregate amount of principal distributable in respect of the Mortgage Securities in such calendar month.

  • Class Principal Distribution Amount As to each RCR Class, an amount as to principal equal to (i) the concurrent distribution of principal in respect of the related REMIC Class or Classes multiplied by (ii) a fraction the numerator of which is the Aggregate Denomination of such RCR Class and the denominator of which is the Initial Authorized Denomination of such RCR Class. Code: The Internal Revenue Code of 1986, as amended, including any successor or amendatory provisions.

  • Class IO Distribution Amount As defined in Section 5.07(f) hereof. For purposes of clarity, the Class IO Distribution Amount for any Distribution Date shall equal the amount payable to the Supplemental Interest Trust on such Distribution Date in excess of the amount payable on the Class IO Interest on such Distribution Date, all as further provided in Section 5.07(f) hereof.

  • Liquidation Preference means, with respect to any Series, the amount specified as the liquidation preference per share for that Series in the Appendix for such Series.