Bankruptcy Approval. (i) No later than three Business Days following the execution of this Agreement, Sellers shall file a motion seeking the issuance and entry by the Bankruptcy Court of the Bidding Procedures Order (the “Bidding Procedures Motion”) and the Sale Order (the “Sale Motion”), including all supporting pages, each in form and substance reasonably satisfactory to Buyers, and shall use their reasonable best efforts to have the Bankruptcy Court issue and enter the Bidding Procedures Order (with only such changes thereto as Buyers shall approve or request) within fifteen days from the filing date of the Bidding Procedures Motion. For the avoidance of doubt, the Sale Motion and the Bidding Procedures Motion may be consolidated into a single motion. Each of Sellers and Buyers agree to take any action reasonably necessary or appropriate to obtain the issuance and entry of the Bidding Procedures Order and the Sale Order, including furnishing affidavits, declarations or other documents or information for filing with the Bankruptcy Court; provided, however, in no event shall Buyer or Sellers be required to agree to any amendment of this Agreement or changes to the Bidding Procedures Order or Sale Order that are materially adverse to such Party.
(ii) The Sale Order will provide, among other things, that pursuant to sections 105, 363 and 365 of the Bankruptcy Code: (A) the Acquired Assets shall be sold to Buyers free and clear of all liens, claims, interests, and encumbrances (whether known or unknown, secured or unsecured or in the nature of setoff or recoupment, xxxxxx or inchoate, filed or unfiled, scheduled or unscheduled, noticed or unnoticed, recorded or unrecorded, perfected or unperfected, allowed or disallowed, contingent or non-contingent, liquidated or unliquidated, matured or unmatured, material or nonmaterial, disputed or undisputed, whether arising prior to or subsequent to the commencement of the Chapter 11 Cases, and whether imposed by agreement, understanding, law, equity, or otherwise, including claims otherwise arising under doctrines of successor liability), including Liens, (except for Permitted Liens), and the Assumed Liabilities shall be assumed by Buyers, in each case, pursuant to this Agreement and the other Related Agreements; (B) Sellers shall assume and assign to Buyers all of the Assumed Contracts as of the Closing Date pursuant to such order; (C) Buyers shall, on or before the Closing Date, pay the Cure Amounts to the appropriate parties as ordere...
Bankruptcy Approval. Shareholder has filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware IN RE: ARM FINANCIAL GROUP, INC. Case No. 99-4430 (Judge Xxxxx) (the "Bankruptcy Proceeding"). Shareholder shall seek to have the transactions contemplated hereby approved by the Bankruptcy Court. If for any reason such approval has not been obtained by May 31, 2000, Buyer may terminate this Agreement by delivery of written notice of termination whereupon Buyer shall be entitled to a refund of the Deposit and this Agreement shall become null and void. Buyer acknowledges and agrees that Shareholder is required to and shall seek higher or better offers for the Common Shares until such time as the Section 363/365 Order is entered.
Bankruptcy Approval. This lease shall not take effect or be binding on either party until and unless approved by the Bankruptcy Court presiding over the Tenant's bankrupt estate.
Bankruptcy Approval. NutraCea is the debtor and debtor-in-possession in Chapter 11 Case No. 2:09-bk-28817-CGC (the “Bankruptcy Case”), which is pending in the United States Bankruptcy Court for the District of Arizona (the “Bankruptcy Court”). The obligations of the Company, Irgovel and NutraCea hereunder are subject to approval by the Bankruptcy Court in the Bankruptcy Case pursuant to 11 U.S.C. Section 105 and Article XII of the Plan, as reflected in the Order Granting Motion To Approve Sale of Minority Interest in Nutra S.A. and Make Findings and Conclusions that the Sale Satisfies All Applicable Plan Requirements entered by the Bankruptcy Court on December 15, 2010, the effectiveness of which has not been stayed or vacated by any court of competent jurisdiction.
Bankruptcy Approval. The obligations of the parties to fulfill their respective obligations under this Agreement is contingent upon entry of the Bankruptcy Approval Order by the Bankruptcy Court .
Bankruptcy Approval. Subject to the terms set forth in this Agreement, Parent shall take all action necessary to file within five (5) Business Days of the date hereof a voluntary petition for relief under Chapter 11 of Title 11 of the United States Code, 11 U.S.C. §§ 101-1532 (the “Bankruptcy Code”) with an appropriate United States Bankruptcy Court (the “Bankruptcy Court”) and simultaneously file a motion with the Bankruptcy Court (the “Plan Confirmation Motion”) seeking authority to take such actions and provide such consents as necessary or appropriate to authorize, approve and facilitate the Transactions on the terms specified in this Agreement and the Ancillary Agreements. The Plan Confirmation Motion shall be provided to and be reasonably acceptable to Buyer and its counsel before being filed with the Bankruptcy Court. Parent shall use commercially reasonable efforts to obtain the Plan Confirmation Order after the Plan Confirmation Motion is filed.
Bankruptcy Approval. The Bankruptcy Court shall have entered the Sale Procedures Order and the Sale Order, and any of the following shall have occurred: (i) expiration of the time for an appeal therefrom without such appeal having been taken; (ii) if an appeal is taken, denial of such appeal and the expiration of the time for further appeal therefrom without such further appeal having been taken; (iii) failure of the Sale Procedures Order and the Sale Order to have been stayed as of the Closing Date, although an appeal therefrom has been taken, and determination by RTI, in its sole discretion, to consummate the Closing; or (iv) entry of the Sale Procedures Order and the Sale Order, and a determination by RTI, in its sole discretion, to consummate the Closing notwithstanding the failure to occur of the events or conditions specified in the preceding clauses (i),(ii) or (iii).
Bankruptcy Approval. An order shall have been entered by the Bankruptcy Court confirming the Plan of Reorganization pursuant to Section 1129 of the Bankruptcy Code, 11 U.S.C. Section 1129, and approving this Agreement and the transactions contemplated hereby, and there shall not be a stay or injunction in effect with respect thereto (hereinafter, the "Bankruptcy Court Approval").
Bankruptcy Approval a. This Release Agreement is subject to and conditioned upon entry by the Bankruptcy Court of preliminary and final approval orders containing all of the Settlement Components that become Final Orders.
b. In the event any of the approvals set forth in Section 2 are not obtained or any of the other conditions to the occurrence of the Settlement Effective Date are not met, this Release Agreement shall be of no further force and effect and the Parties shall be returned to status quo ante as of the date of this Release Agreement, as if no Release Agreement had been negotiated or executed. Moreover, the Parties shall be deemed to have preserved all of their rights and defenses of any kind that they may have had against each other and any other person.
Bankruptcy Approval. (i) The Bankruptcy Court shall have approved, and shall have entered an order confirming, the Plan of Reorganization (including with respect to corporate structure and capital structure) in connection with the Chapter 11 Cases, such order to have been entered upon proper notice to all parties to be bound by such plan in compliance with the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure and any other applicable federal or local bankruptcy rules, and such order shall be in full force and effect and shall not have been reversed, vacated or stayed or amended, supplemented or otherwise modified without the prior written consent of the Required Lenders (which consent shall be in their sole discretion).
(ii) All conditions to the effectiveness of the Plan of Reorganization, as approved by the Bankruptcy Court shall have been (or, in the case of the condition relating to this Agreement, will be simultaneously herewith) satisfied without waiver.
