Common use of Additional Bankruptcy Matters Clause in Contracts

Additional Bankruptcy Matters. (a) From and after the date of this Agreement and until the Closing Date, to the extent reasonably practicable, the Sellers shall deliver to Buyer drafts of any and all pleadings, motions, notices, statements, applications, schedules, reports, and other papers to be filed or submitted by the Sellers in connection with or related to this Agreement for Buyer’s prior review. The Sellers shall make reasonable efforts to consult and cooperate with Buyer regarding (i) any such pleadings, motions, notices, statements, applications, schedules, reports, or other papers, (i) any discovery taken in connection with the seeking entry of the Confirmation Order (including any depositions) and (i) any hearing relating to the Confirmation Order, including the submission of any evidence, including witnesses testimony, in connection with such hearing. (b) The Sellers acknowledge and agree, and the Confirmation Order shall provide that, on the Closing Date and concurrently with the Closing, all then existing or thereafter arising Liabilities and Liens of, against or created by the Sellers or their bankruptcy estates, shall be fully released from and with respect to the Purchased Assets, which shall be transferred to Buyer and/or the relevant Designated Buyers free and clear of all Liabilities and Encumbrances except for Assumed Liabilities and Permitted Encumbrances. (c) It is intended that transactions contemplated by this Agreement are in furtherance of and under a plan to be confirmed as contemplated by U.S.C. § 1146(c) constitute part of a sale to the Buyers pursuant to 11 U.S.C. § 363, for purposes including, but not limited to, the protections of 11 U.S.C. § 363(f), as described in the Plan of Reorganization.

Additional Bankruptcy Matters. (a) From and after the date of this Agreement and until the Closing Date, to the extent reasonably practicable, the Sellers shall deliver to Buyer drafts of any and all pleadings, motions, notices, statements, applications, schedules, reports, and other papers to be filed or submitted by the Sellers in connection with or related to this Agreement for Buyer’s prior review. The Sellers shall make reasonable efforts to consult and cooperate with Buyer regarding (i) any such pleadings, motions, notices, statements, applications, schedules, reports, or other papers, (iii) any discovery taken in connection with the seeking entry of the Confirmation Sale Order (including any depositions) and (iiii) any hearing relating to the Confirmation Sale Order, including the submission of any evidence, including witnesses testimony, in connection with such hearing. (b) The Sellers acknowledge and agree, and the Confirmation Sale Order shall provide that, on the Closing Date and concurrently with the Closing, all then existing or thereafter arising Liabilities and Liens of, against or created by the Sellers or their bankruptcy estates, shall be fully released from and with respect to the Purchased Assets, which shall be transferred to Buyer and/or the relevant Designated Buyers free and clear of all Liabilities and Encumbrances except for Assumed Liabilities and Permitted Encumbrances. (c) It is intended that transactions contemplated by this Agreement are in furtherance of and under a plan to be confirmed as contemplated by U.S.C. § 1146(c) constitute part of a sale to the Buyers pursuant to 11 U.S.C. § 363, for purposes including, but not limited to, the protections of 11 U.S.C. § 363(f), as described in the Plan of Reorganization.

Additional Bankruptcy Matters. (a) From and after the date of this Agreement and until the Closing Date, to the extent reasonably practicable, the Sellers shall deliver to Buyer drafts of any and all pleadings, motions, notices, statements, applications, schedules, reports, and other papers to be filed or submitted by the Sellers in connection with or related to this Agreement for Buyer’s prior review. The Sellers shall make reasonable efforts to consult and cooperate with Buyer regarding (i) any such pleadings, motions, notices, statements, applications, schedules, reports, or other papers, (iii) any discovery taken in connection with the seeking entry of the Confirmation Order (including any depositions) and (iiii) any hearing relating to the Confirmation Order, including the submission of any evidence, including witnesses testimony, in connection with such hearing. (b) The Sellers acknowledge and agree, and the Confirmation Order shall provide that, on the Closing Date and concurrently with the Closing, all then existing or thereafter arising Liabilities and Liens of, against or created by the Sellers or their bankruptcy estates, shall be fully released from and with respect to the Purchased Assets, which shall be transferred to Buyer and/or the relevant Designated Buyers free and clear of all Liabilities and Encumbrances except for Assumed Liabilities and Permitted Encumbrances. (c) It is intended that transactions contemplated by this Agreement are in furtherance of and under a plan to be confirmed as contemplated by U.S.C. § 1146(c) constitute part of a sale to the Buyers pursuant to 11 U.S.C. § 363, for purposes including, but not limited to, the protections of 11 U.S.C. § 363(f), as described in the Plan of Reorganization.