Bankruptcy Plan. Neither the Borrowers shall have executed, entered into or otherwise committed to any “Alternative Transaction” (as defined in the Restructuring Support Agreement) without the prior written consent of Administrative Agent and Lenders. None of the Subsidiary Owners shall have executed, entered into or otherwise committed to any “Alternative Transaction” (as defined in the Restructuring Support Agreement, giving effect to such term. mutadis mutandis, as if it were applicable to the Subsidiary Owners and the Subsidiary Owners were party to the Restructuring Support Agreement), without the prior written consent of Administrative Agent and Lenders.
Bankruptcy Plan. The Company has previously filed a reorganization petition in the United States Bankruptcy Court, Southern District of Texas, Houston Division (the "Court") pursuant to 11 U.S.C. [sec] 101, et seq., and was the proponent of a Plan of Reorganization filed with the Court (the "Plan of Reorganization"), which Plan of Reorganization was filed on or about August 7, 1990. The Plan of Reorganization was confirmed by the Court, and has since been substantially consummated. Any and all disbursements required under the Plan of Reorganization have been made, and the Chapter 11 case has been closed. The Company has no further obligations or liabilities pursuant to the Plan of Reorganization or in its capacity as a debtor-in-possession.
Bankruptcy Plan. The Bankruptcy Plan became effective on December 31, 2003, and the Company has complied in all respects with the Bankruptcy Plan.
Bankruptcy Plan. Borrower shall not amend the Bankruptcy Plan without the prior written consent of Lender.
Bankruptcy Plan. Freedom Fuels will provide to Soy Energy a copy of the Plan of Reorganization to be submitted to the Bankruptcy Court at least five (5) days prior to submission to the Bankruptcy Court, and Soy Energy shall have the right to make such comments and recommendations to the Plan of Reorganization as it determines appropriate in its sole discretion in furtherance of the purposes and intent of the Asset Purchase Agreement and, as applicable, the transactions contemplated by this Agreement. If (a) Freedom Fuels does not comply with the delivery requirements or if Soy Energy, in its commercially reasonable discretion, has reasonably determined that the Plan of Reorganization submitted to or approved by the Bankruptcy Court imposes terms, rights or obligations on Purchaser that are materially changed from the provisions in the Asset Purchase Agreement, and as applicable, this Agreement, and (b) Soy Energy terminates the Asset Purchase Agreement, then Soy Energy shall have the right to terminate this Agreement by providing New Equity written notice of termination within ten (10) days from such termination of the Asset Purchase Agreement. Failure to provide notice within such period shall be deemed acceptance and approval of the plan of reorganization and the right to terminate this Agreement under this section shall terminate and shall be of no further effect.
Bankruptcy Plan. The Plan of Bankruptcy has been confirmed in all respects by the court pursuant to an Order of Confirmation issued on August 12, 2004, and Public Company and its predecessor, Milestone Capital, Inc., were and presently are compliance with the Plan of Bankruptcy, as confirmed in all material respects.
Bankruptcy Plan. (a) The Company shall, and shall cause each of the Debtor Subsidiaries to, use commercially reasonable efforts to restructure the capitalization of the Company and the License Subsidiaries pursuant to the Bankruptcy Plan in accordance with the Plan Term Sheet. In furtherance of and without limiting the generality of the foregoing, the Company shall, and shall cause each of the Debtor Subsidiaries to, (i) seek to obtain the Acquisition Approval Order as promptly as practicable but no later than twenty (20) Business Days following execution of this Agreement, (ii) file with the Bankruptcy Court the Bankruptcy Plan and a related Disclosure Statement as promptly as practicable but no later than fifteen (15) Business Days following the entry of the Acquisition Approval Order, and (iii) seek Bankruptcy Court approval of the Disclosure Statement, the Required Consents and the Confirmation Order as expeditiously as possible in light of all circumstances. The Acquiror shall have a reasonable opportunity to review and comment on the Bankruptcy Plan, the Disclosure Statement and the Confirmation Order prior to their being filed with the Bankruptcy Court and each of the Bankruptcy Plan, the Disclosure Statement and the Confirmation Order shall be in form and substance reasonably satisfactory to the Acquiror (it being understood that any provision of the Bankruptcy Plan or the Disclosure Statement that is set forth in the Plan Term Sheet or could not reasonably be expected to adversely affect or delay the transactions contemplated by this Agreement, including (A) the ability of the Company or any of the License Subsidiaries to obtain a discharge of Claims and Liabilities as contemplated by Section 7.2(g) or (B) any License Subsidiary’s interest in and right to control and operate its respective FCC Licenses free and clear of Liens, shall be deemed reasonably satisfactory to the Acquiror).
Bankruptcy Plan. KBLP and FSC shall be co-proponents of a chapter 11 plan in substantially the form attached as Exhibit A (the "Plan"), and either KBLP or FSC may seek confirmation of the Plan in accordance with its terms except as specifically set forth herein. FSC acknowledges that its acting as a proponent of the Plan, including the right to solicit acceptances and seek confirmation of the Plan, will not otherwise impair KBLP's exclusive periods to propose and solicit acceptance of a plan as provided in title 11 of the United States Code, 11 U.S.C. ss.ss. 101 et xxx., as the same may be amended or modified by court order ("KBLP's Exclusivity Rights"). In the event that circumstances arise or additional factors become known which KBLP believes in its good faith judgment require withdrawal, material delay or modification of the Plan (a "Change"), then FSC may not seek confirmation of the Plan or any other plan except as may be permitted by KBLP's Exclusivity Rights, and KBLP may withdraw, delay or modify the Plan or any other plan it seeks to propose, without FSC's consent; provided, however, that KBLP will consult in good faith with FSC for a five business day period regarding any such Change before materially delaying, modifying or withdrawing the Plan or seeking confirmation of an alternative plan; provided further, however, that in the event of a Change, any ballot cast by Sonesta, KBHA, PLT or Aetna accepting the Plan may, at such party's sole option, be considered null and void, and nothing herein shall prejudice such party's rights to object to any modified plan, other plan or action in KBLP's chapter 11 case. An offer or expression of interest by a potential buyer of KBLP's property or unrelated third party funder of an alternative plan shall not be sufficient grounds for a Change.
Bankruptcy Plan. Debtors’ Supplemental Modified Fifth Amended Joint Plan of Affiliated Debtors pursuant to Chapter 11 of the United States Bankruptcy Code, dated July 2, 2004.
Bankruptcy Plan. (a) Company shall use its best efforts to obtain the approval of this Agreement, the Transaction and any other transactions contemplated herein by the Bankruptcy Court as part of a plan of reorganization for the Company under Chapter 11 of the Bankruptcy Code.
