Common use of Adjustment for breach Clause in Contracts

Adjustment for breach. (a) Any Group Creditor who has: (i) received partial or full payment of their Group Creditor Claim (whether through litigation, the purported exercise of a Security Interest, or otherwise); or (ii) has caused the Deed Administrators, the Related Deed Administrators, the Administrators, the Related Administrators, the Deed Company or a Related DOCA Company to incur costs, fees and expenses, in each case in breach of the Administration Order may, in the Deed Administrators’ absolute discretion following consultation with the (i) prior to the Restructuring Effective Date, the Ad Hoc Committee and (ii) following the Restructuring Effective Date, Holdco, have an equivalent amount of their DOCA Creditor Entitlements reduced, withheld or cancelled and or set-off against their DOCA Creditor Entitlement. (b) The Deed Administrators will notify a Group Creditor that is the subject of the above at the same time that it notifies a Group Creditor of its EPM Entitlements in accordance with Clause 7.5 (Notification of EPM Entitlements) or, in respect of a Holdback Creditor, in accordance with Clause 9.7(c).

Adjustment for breach. (a) Any Group Creditor who has: (i) received partial or full payment of their Group Creditor Claim (whether through litigationlitigation or, the purported exercise of a Security Interest, or otherwise); or (ii) has caused the Deed Administrators, the Related Deed Administrators, the Administrators, the Related Administrators, the Deed Company or a Related DOCA Company to incur costs, fees and expenses, in each case in breach of the Administration Order may, in the Deed Administrators’ absolute discretion following consultation with the (i) prior to the Restructuring Effective Date, the Ad Hoc Committee and (ii) following the Restructuring Effective Date, Holdco, have an equivalent amount of their DOCA Creditor Entitlements reduced, withheld or cancelled and or set-off against their DOCA Creditor Entitlement. (b) The Deed Administrators will notify a Group Creditor that is the subject of the above at the same time that it notifies a Group Creditor of its EPM Entitlements in accordance with Clause 7.5 (Notification of EPM Entitlements) or, in respect of a Holdback Creditor, in accordance with Clause 9.7(c).