Common use of Alternative Proceedings Clause in Contracts

Alternative Proceedings. In the event that completion of the Transaction pursuant to the Plan through CBCA Proceedings is mutually determined by the Parties to be impracticable or impermissible under applicable Law, then the Parties shall consider and negotiate in good faith and if practicable consummate an alternative means of implementing the Transaction or another transaction containing, to the maximum degree practicable and permissible under applicable Law, the terms contemplated to be included in the Transaction, including, without limitation, extending the Outside Date to a date that such transaction can be completed, as agreed by KGI and the Supporting Parties that have executed this Agreement on the Agreement Date, each acting reasonably, and provided that the Outside Date shall be extended no later than February 28, 2017.