Common use of ACCESSION AND POSITION DISCLOSURE Clause in Contracts

ACCESSION AND POSITION DISCLOSURE. 6.1 Each Initial Consenting Creditor shall provide a properly completed and executed Supporting Claims Notice to the Information Agent on or before the date falling five (5) Business Days after the date of this Agreement together with Evidence of Beneficial Ownership. 6.2 A Club Lender or Noteholder (or any fund or other entity advising or managing a Club Lender and/or Noteholder and that is acting on its behalf) who is not an Initial Consenting Creditor may accede to this Agreement as an Additional Consenting Creditor by delivering a properly completed and executed Accession Deed and Supporting Claims Notice to the Information Agent together with Evidence of Beneficial Ownership. 6.3 A Senior Creditor (or any fund or other entity advising or managing a Club Lender and/or Noteholder and that is acting on its behalf) who: (a) is not a Party may accede to this Agreement as an Additional Backstop Party by delivering a properly completed and executed Accession Deed and Supporting Claims Notice to the Information Agent; (b) is a Party but is not a Backstop Party may agree to become an Additional Backstop Party by notifying the Information Agent that it agrees, for the benefit of each other Party, to be a Backstop Party under this Agreement and to be bound by the terms of this Agreement as an Additional Backstop Party; in each case, by 11:59 p.m. (London time) on 16 March 2021 or such later date as may be approved by the Majority Consenting Creditors (the “Backstop Deadline”). Backstop Parties should also notify the Information Agent if they are exercising their Further Backstop Election by the Backstop Deadline. 6.4 Each Party agrees that any person that executes an Accession Deed and delivers a Supporting Claims Notice in compliance with the terms of this Agreement shall (subject to the terms of the Accession Deed) be: (a) henceforth a Party to this Agreement; and (b) bound by, and entitled to enforce, the terms of this Agreement as if they were an original party to the same in the capacity of a Consenting Creditor and (if that person has elected to be and meets the criteria of being an Additional Backstop Party) a Backstop Party; in each case, on and from the date that such Accession Deed becomes effective in accordance with its terms. 6.5 The Majority Consenting Creditors and/or the Information Agent may request, and the relevant Consenting Creditor shall provide (subject to any confidentiality undertakings by which the Consenting Creditor is bound) evidence as may reasonably be requested by the Majority Consenting Creditors and/or the Information Agent to prove that Consenting Creditor’s beneficial ownership of the relevant Supporting Claims set out in its Supporting Claims Notice.

Appears in 6 contracts

Samples: Restructuring Support Agreement, Restructuring Support Agreement, Restructuring Support Agreement

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ACCESSION AND POSITION DISCLOSURE. 6.1 Each Initial Consenting Creditor shall provide a properly completed and executed Supporting Claims Notice to the Information Agent on or before the date falling five (5) Business Days after the date of this Agreement together with Evidence of Beneficial Ownership. 6.2 A Club Lender or Noteholder (or any fund or other entity advising or managing a Club Lender and/or Noteholder and that is acting on its behalf) who is not an a Partyan Initial Consenting Creditor may accede to this Agreement as an Additional Consenting Creditor by delivering a properly completed and executed Accession Deed and Supporting Claims Notice to the Information Agent together with Evidence of Beneficial Ownership. 6.3 A Senior Creditor (or any fund or other entity advising or managing a Club Lender and/or Noteholder and that is acting on its behalf) who: (a) is not a Party may accede to this Agreement as an Additional Backstop Party by delivering a properly completed and executed Accession Deed and Supporting Claims Notice to the Information Agent; (b) is a Party but is not a Backstop Party may agree to become an Additional Backstop Party by notifying the Information Agent that it agrees, for the benefit of each other Party, to be a Backstop Party under this Agreement and to be bound by the terms of this Agreement as an Additional Backstop Party; in each case, by 11:59 p.m. (London time) on 16 March 2021 or such later date as may be approved by the Majority Consenting Creditors (the “Backstop Deadline”). Backstop Parties should also notify the Information Agent if they are exercising their Further Backstop Election by the Backstop Deadline. 6.4 Each Party agrees that any person that executes an Accession Deed and delivers a Supporting Claims Notice in compliance with the terms of this Agreement shall (subject to the terms of the Accession Deed) be: (a) henceforth a Party to this Agreement; and (b) bound by, and entitled to enforce, the terms of this Agreement as if they were an original party to the same in the capacity of a Consenting Creditor and (if that person has elected to be and meets the criteria of being an Additional Backstop Party) a Backstop Party; in each case, on and from the date that such Accession Deed becomes effective in accordance with its terms. 6.5 The Majority Consenting Creditors and/or the Information Agent may request, and the relevant Consenting Creditor shall provide (subject to any confidentiality undertakings by which the Consenting Creditor is bound) evidence as may reasonably be requested by the Majority Consenting Creditors and/or the Information Agent to prove that Consenting Creditor’s beneficial ownership of the relevant Supporting Claims set out in its Supporting Claims Notice.

Appears in 5 contracts

Samples: Restructuring Support Agreement, Restructuring Support Agreement, Restructuring Support Agreement

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