L. 99-554, title II, Sec. L. 105-183, Sec. Unless the secured creditor accepts the plan, the plan must provide that the secured creditor retain the lien securing the creditor's allowed secured claim in addition to receiving value, as of the effective date of the plan of property to be distributed under the plan on account of the claim not less than the allowed amount of the claim. Of course, the secured creditors' lien only secures the value of the collateral and to the extent property is distributed of a present value equal to the allowed amount of the creditor's secured claim the creditor's lien will have been satisfied in full. To the extent the deferred payments exceed the value of the allowed amount of the secured claim and the debtor subsequently defaults, the lien will not secure unaccrued interest represented in such deferred payments.
Any governmental unit is an entity subject to such an order.
L. 98-353, Sec. L. 98-353, Sec. L. 98-353, Sec. Effective Date of 1998 Amendment Amendment by Pub. L. 105-183, set out as a note under section 544 of this title.