Examples of Secured Lender Claim in a sentence
Each holder of a Prepetition Secured Lender Claim will receive, on the Effective Date, in full and final satisfaction of its Prepetition Secured Lender Claim, payment in full in Cash.
For the avoidance of doubt, each Prepetition Lender shall be entitled to cast a Ballot on account of its respective Class 3 Prepetition Secured Lender Claim and a Ballot on account of its respective Class 4 Unsecured Claim on account of its Prepetition Lender Deficiency Claim.
The Disbursing Agent shall distribute to each holder of an Allowed Secured Lender Claim, such Creditor’s share, if any, of Second Lien Term Loan Interests as determined pursuant to Article IV hereof.
The extent to which a holder of such Prepetition Secured Lender Claim recognizes gain or loss as a result of such exchange depends, in part, on whether the Purchaser Credit Bid qualifies as a tax-free exchange of securities in pursuit of a plan of reorganization (within the meaning of applicable tax rules), which in turn depends on whether the debt instruments underlying the Prepetition Secured Lender Claim surrendered are treated as a “security” for the reorganization provisions of the Tax Code.
As discussed above, the Proponents believe that liquidation under chapter 7 would result in smaller Distributions being made to creditors than those provided for in the Plan because there would not be sufficient recoveries to make any Distributions to creditors after Distributions are made on account of the Secured Lender Claim.