Common use of Additional Negative Covenants of CEC Clause in Contracts

Additional Negative Covenants of CEC. Subject to the terms and conditions hereof, for the duration of the Restructuring Support Period, CEC (except with the prior written consent of the Requisite Consenting Creditors) shall not, directly or indirectly through any of its non-Debtor subsidiaries take any actions outside the ordinary course of business that would have a material adverse effect on Consenting Creditors’ recoveries under the Plan or the contributions to be provided to the Debtors under the Plan.

Appears in 2 contracts

Samples: Restructuring Support and Forbearance Agreement (CAESARS ENTERTAINMENT Corp), Restructuring Support and Forbearance Agreement (CAESARS ENTERTAINMENT Corp)

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Additional Negative Covenants of CEC. Subject to the terms and conditions hereof, for the duration of the Restructuring Support Period, CEC (except with the prior written consent of the Requisite Consenting Bank Creditors) shall not, directly or indirectly through any of its non-Debtor subsidiaries take any actions outside the ordinary course of business that would have a material adverse effect on Consenting Bank Creditors’ recoveries under the Plan Plans or the contributions to be provided to the Debtors under the PlanPlans.

Appears in 2 contracts

Samples: Restructuring Support and Forbearance Agreement (CAESARS ENTERTAINMENT Corp), Restructuring Support and Forbearance Agreement (CAESARS ENTERTAINMENT Corp)

Additional Negative Covenants of CEC. Subject to the terms and conditions hereof, for the duration of the Restructuring Support Period, CEC (except with the prior written consent of the Requisite Consenting Second Lien Creditors) shall not, directly or indirectly through any of its non-Debtor subsidiaries take any actions outside the ordinary course of business that would have a material adverse effect on Consenting Second Lien Creditors’ recoveries under the Plan Plans or the contributions to be provided to the Debtors under the PlanPlans.

Appears in 1 contract

Samples: Restructuring Support and Forbearance Agreement (CAESARS ENTERTAINMENT Corp)

Additional Negative Covenants of CEC. Subject to the terms and conditions hereof, for the duration of the Restructuring Support Period, CEC (except with the prior written consent of the Requisite Consenting Bank Creditors) shall not, directly or indirectly through any of its non-Debtor subsidiaries take any actions outside the ordinary course of business that would have a material adverse effect on Consenting Bank Creditors’ recoveries under the Plan or the contributions to be provided to the Debtors under the Plan.

Appears in 1 contract

Samples: Restructuring Support and Forbearance Agreement (CAESARS ENTERTAINMENT Corp)

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Additional Negative Covenants of CEC. Subject to the terms and conditions hereof, for the duration of the Restructuring Support Period, CEC (except with the prior written consent of the Requisite Consenting Second Lien Creditors) shall not, directly or indirectly through any of its non-Debtor debtor subsidiaries take any actions outside the ordinary course of business that would have a material materially adverse effect on Consenting Creditors’ recoveries under the Plan or economic value of the contributions to be provided to the Debtors under the PlanCEC Convertible Notes.

Appears in 1 contract

Samples: Restructuring Support and Forbearance Agreement (CAESARS ENTERTAINMENT Corp)

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