Avoidance and Recovery Actions Sample Clauses

Avoidance and Recovery Actions. 19 3. Section 1129(a)(4) Payment. . . . . . . . . . . . . . . . . . 20 D.
Sample 1
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Avoidance and Recovery Actions. As of the Effective Date, the Debtor will waive the right to prosecute and release, on behalf of itself and the Estate, any avoidance or recovery actions under Bankruptcy Code SECTIONS 542 through 550 or any other claims, rights or Causes of Action that belong to or could have been raised by or on behalf of the Debtor or its Estate, other than or in connection with any such actions that were commenced on or before the Effective Date. In accordance with Bankruptcy Code SECTION 1123(b), as successor to the Estate, Jamboree LLC will retain and may enforce any claims, rights and Causes of Action that the Debtor or Estate may hold commenced on or before the Effective Date. Jamboree LLC or any successor may pursue those rights of action, as appropriate, in accordance with what is in the best interests of Jamboree LLC or successors holding such rights of action. Nothing in Paragraph 7.G of the Plan will be deemed to waive any right of the Debtor, Reorganized CWOP or Ja mboree LLC or to assert avoidance or recovery actions under Bankruptcy Code SECTIONS 542 through 550 or any other Causes of Action defensively, including by way of setoff, recoupment or counterclaim. The only avoidance action the Debtor intends to commence before the Effective Date is the Crow Litigation. Because the Debtor's creditors other than the Certificateholders are relatively nominal amounts and are generally being paid in full under the Plan, the Certificateholders would be the beneficiaries of any avoidance action commenced by the Debtor. The Debtor and the Certificateholders concluded to waive any avoidance actions other than the Crow Litigation as part of the Plan to avoid complication and delay in the restructuring process and as part of the Debtor's and Certificateholders' agreement to execute mutual releases in connection with the Plan.
Sample 1

Related to Avoidance and Recovery Actions

  • Environmental, Health and Safety Matters (a) The Company has complied and is in compliance with all Environmental, Health, and Safety Requirements.

  • Avoidance Issues If any First Priority Secured Party is required in any Insolvency Proceeding or otherwise to disgorge, turn over or otherwise pay to the estate of any Loan Party, because such amount was avoided or ordered to be paid or disgorged for any reason, including without limitation because it was found to be a fraudulent or preferential transfer, any amount (a “Recovery”), whether received as proceeds of security, enforcement of any right of set-off or otherwise, then the First Priority Obligations shall be reinstated to the extent of such Recovery and deemed to be outstanding as if such payment had not occurred and the First Priority Obligations Payment Date shall be deemed not to have occurred. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto. The Second Priority Secured Parties agree that none of them shall be entitled to benefit from any avoidance action affecting or otherwise relating to any distribution or allocation made in accordance with this Agreement, whether by preference or otherwise, it being understood and agreed that the benefit of such avoidance action otherwise allocable to them shall instead be allocated and turned over for application in accordance with the priorities set forth in this Agreement.

  • Unanticipated Recoveries $ 0.00 ---------------

  • RECOVERY FROM THIRD PARTIES 6.1 Where the Sellers have paid an amount in full discharge of a liability under paragraph 2 in respect of any Liability for Taxation and the Buyer, the Company is or becomes entitled to recover from some other person (not being the Buyer, the Company or any other company within the Buyer’s Tax Group), any amount in respect of such Liability for Taxation, the Buyer shall or shall procure that the Company shall:

  • Disaster Recovery and Business Continuity Company has developed and implemented a contingency planning program to evaluate the effect of significant events that may adversely affect the customers, assets, or employees of Company and Company Bank. To Company’s Knowledge, such program ensures that Company can recover its mission critical functions, and complies in all material respects with the requirements of the FFIEC and the FDIC.

  • Environmental and Safety Matters Except as disclosed in Schedule 4.13:

  • Environmental, Health and Safety The Policy Board shall review, approve and monitor environmental and workplace health and safety guidelines, the goal of which is to achieve compliance with current national, state and local laws and regulations regarding environmental and workplace health and safety.

  • Regulatory Actions The following provisions shall be applicable to the parties to the extent that they are required to be included in employment agreements between a savings bank and its employees pursuant to Section 563.39(b) of the Office of Thrift Supervision (“OTS”) Rules and Regulations, 12 C.F.R. §563.39(b), or any successor thereto, and shall be controlling in the event of a conflict with any other provision of this Agreement, including without limitation Section 5 hereof.

  • Personnel Matters (a) Schedule 3.15(a) sets forth a correct and complete list of each director, officer, employee, independent contractor, consultant and agent of Company, including but not limited to, each employee on leave of absence or layoff status. No retired employee, director, of officer of Company is receiving benefits or scheduled to receive benefits in the future.

  • Expenses and Recoveries The enforcing Party bringing a claim, suit or action under this Section 4.3 shall be solely responsible for any expenses incurred by such Party as a result of such claim, suit or action. If such Party recovers monetary damages in such claim, suit or action, except as otherwise agreed by the Parties in connection with a cost-sharing arrangement, such recovery shall be allocated first to the reimbursement of any expenses incurred by the Parties in such litigation, and any remaining amounts shall be shared as follows: [***].

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