Borrowers’ Restructuring Advisor Clause Samples
Borrowers’ Restructuring Advisor. AlixPartners, LLP shall continue as Borrowers’ Restructuring Advisor to the Loan Parties until otherwise agreed in writing by the Administrative Agent. In the event that AlixPartners, LLP terminates their existing involvement with the Borrowers, the Borrowers shall appoint one of the other restructuring advisors set forth on Schedule B to the Forbearance Agreement, or such other restructuring advisor satisfactory to the Administrative Agent, within 5 Business Days of AlixPartners, LLP providing the Borrowers written notice of termination of their contract with the Borrowers. The Borrowers shall cause the newly appointed restructuring advisor to continue to serve as Borrowers’ Restructuring Advisor until otherwise agreed in writing by the Administrative Agent. The Borrowers agree that any final reports of the Borrowers’ Restructuring Advisor provided to the Borrowers will also be provided to the Lenders within a reasonable period of time following the Borrowers’ receipt of such final report.
Borrowers’ Restructuring Advisor. By no later than Monday, October 11, 2010, the Borrowers shall select and engage a financial advisor to represent the Borrowers (the “Borrowers’ Restructuring Advisor”), which Borrowers’ Restructuring Advisor shall be selected from one the restructuring advisors set forth on Schedule B hereto, or such other restructuring advisor as may be reasonably agreed by Borrowers and Administrative Agent. The engagement letter between the Borrowers and the Borrower’s Restructuring Advisor setting forth the terms and scope of the Borrowers’ Restructuring Advisor’s engagement shall be in form and substance reasonably satisfactory to the Administrative Agent. The Borrowers hereby authorize the Administrative Agent and any of its designees to at any time and from time to time communicate directly with the Borrowers’ Restructuring Advisor regarding any aspect of its findings and of such Borrower’s business; provided that the Administrative Agent shall provide the Borrowers prior notice of and a reasonable opportunity to participate in such discussions. Notwithstanding the foregoing, the Administrative Agent acknowledges that Borrowers’ Restructuring Advisor represents the Borrowers and not the Administrative Agent or the Lenders, and that neither the Administrative Agent nor the Lenders shall be entitled to direct Borrowers’ Restructuring Advisor to take or refrain from taking any action. The Borrowers agree that any final reports of the Borrowers’ Restructuring Advisor provided to the-Borrowers will also be provided to the Lenders within a reasonable period of time following the Borrowers’ receipt of such final report.