Case Milestones Sample Clauses
The Case Milestones clause establishes specific benchmarks or stages that must be achieved during the progression of a case or project. It typically outlines key deliverables, deadlines, or events that signal the completion of important phases, such as filing documents, completing discovery, or reaching settlement discussions. By clearly defining these milestones, the clause helps track progress, ensures accountability, and facilitates timely management of the case, ultimately reducing delays and misunderstandings between parties.
Case Milestones. Each Credit Party shall ensure that each of the milestones set forth below (the “Case Milestones”) is achieved in accordance with the applicable timing referred to below (or such later dates as approved in writing by the Lenders); provided that when the performance of any covenant, duty or obligation is stated to be due or performance required under this Section 5.15 falls on a day which is not a Business Day, the date of such performance shall extend to the immediately succeeding Business Day:
(a) On the Petition Date, the Credit Parties shall have filed a motion seeking approval of the DIP Orders, in form and substance acceptable to the Lenders in all respects.
(b) Not later than the date that is ten (10) days following the Petition Date, the Bankruptcy Court shall have entered the Interim DIP Order and such Interim DIP Order shall be in full force and effect and shall not have been (A) vacated, reversed, or stayed, or (B) amended or modified except as otherwise agreed to in writing by the Lenders.
(c) Not later than ten (10) days after the Petition Date, the Credit Parties shall have filed in the Bankruptcy Court an Acceptable Plan, a corresponding disclosure statement (the “Disclosure Statement”), and a motion seeking approval of the Disclosure Statement, in each case, in form and substance acceptable to the Lenders and the Prepetition Administrative Agent.
(d) Not later than the date that is thirty (30) days following the Petition Date, the Bankruptcy Court shall have entered the Final DIP Order and such Final DIP Order shall be in full force and effect and shall not have been (A) vacated, reversed, or stayed, or (B) amended or modified except as otherwise agreed to in writing by the Lenders.
(e) Not later than fifty (50) days after the Petition Date, the Credit Parties shall have obtained entry of the order by the Bankruptcy Court approving the Disclosure Statement in form and substance acceptable to the Lenders and the Prepetition Administrative Agent.
(f) Not later than ninety (90) days after the Petition Date, the Credit Parties shall have obtained entry by the Bankruptcy Court of the order confirming the Acceptable Plan (the “Confirmation Order”), in form and substance acceptable to the Lenders and the Prepetition Administrative Agent.
(g) Not later than sixteen (16) days after entry of the Confirmation Order, the effective date of the Acceptable Plan shall have occurred and the Credit Parties shall have discharged the Loans by (A) Payment in Ful...
Case Milestones. Each Loan Party shall ensure that each of the milestones set forth below is achieved in accordance with the applicable timing referred to below (or such later dates as approved by the Required Lenders):
(a) Not later than 120 days following the Petition Date, the Debtors shall file with the Bankruptcy Court an Acceptable Plan of Reorganization and a disclosure statement reasonably satisfactory to the Required Lenders with respect thereto.
(b) Not later than the date that is 180 days following the Petition Date, the Bankruptcy Court shall enter an order approving a disclosure statement reasonably satisfactory to the Required Lenders with respect to an Acceptable Plan of Reorganization.
(c) Not later than the date that is 240 days following the Petition Date, the Bankruptcy Court shall enter an order confirming an Acceptable Plan of Reorganization (the date such order is entered, the “Plan Confirmation Date”), which order shall be in form and substance satisfactory to the Administrative Agent and the Required Lenders.
(d) Not later than the date that is 270 days following the Petition Date, such Acceptable Plan of Reorganization shall become effective.
Case Milestones. Borrowers shall comply with the Case Milestones on a timely basis.
Case Milestones. The Loan Parties shall comply with each of the covenants contained on Schedule 5.15 upon the terms and at the times provided for therein.
Case Milestones. The Company shall, and shall cause its Subsidiaries to, comply with the “Sale/Chapter 11 Milestones” set forth in Paragraph 14(c) of the Interim DIP Order or the corresponding provision of the Final DIP Order to occur within the timeframes specified therein.
Case Milestones. The Sponsoring Noteholders’ support for the Restructuring shall be subject to the timely satisfaction of the following milestones (the “Case Milestones”), which may be waived or extended with the prior written consent of the Sponsoring Noteholders:
a) the Petition Date shall be on or before the Outside Petition Date;
b) no later than 5 calendar days following the Petition Date, the Bankruptcy Court shall have entered the Interim DIP Financing Order;
c) no later than 40 calendar days following the Petition Date, the Bankruptcy Court shall have entered the Final DIP Financing Order, which shall comply with all local rules of the Bankruptcy Court, including but not limited to with respect to the challenge period;
d) no later than 15 Business Days following the Petition Date, the Debtors shall have filed (i) a plan of reorganization reasonably acceptable to the Sponsoring Noteholders; (ii) a disclosure statement in connection therewith (the “Acceptable Disclosure Statement”) and (iii) a motion seeking entry of an order approving the Acceptable Disclosure Statement;
e) no later than 50 calendar days following the Petition Date, the Bankruptcy Court shall have entered an order approving the Acceptable Disclosure Statement in form and substance reasonably acceptable to the Supporting Noteholders;
f) no later than 90 calendar days following the Petition Date, the Bankruptcy Court shall have entered the Confirmation Order; and
g) no later than 105 calendar days following the Petition Date, the Plan Effective Date shall have occurred (the “Outside Date”).
Case Milestones. The failure to meet any of the Case Milestones, or:
Case Milestones. Each Debtor agrees that it will take all necessary actions to comply with the following milestones (the “Case Milestones”) in the Chapter 11 Cases:
(a) Commencement of the Chapter 11 Cases. On or before December 19, 2018, each Debtor shall commence the Chapter 11 Cases by filing with the Bankruptcy Court a voluntary petition for relief under Chapter 11 of the Bankruptcy Code.
Case Milestones. The Debtors shall comply with the following deadlines (each of which may be extended with the written consent of the Majority Post-Petition Lenders without the consent of any other person or any further order of the Bankruptcy Court) (the “DIP Facility Milestones”): DIP Facility (a) on the Petition Date, filing of a motion seeking approval of the DIP Facility;
Case Milestones. Each Credit Party shall ensure that each of the milestones set forth below (the “Case Milestones”) is achieved in accordance with the applicable timing referred to below; provided that when the performance of any covenant, duty or obligation is stated to be due or performance required under this Section 9.18 falls on a day which is not a Business Day, the date of such performance shall extend to the immediately succeeding Business Day:
(a) Not later than the date that is thirty-five (35) days following the Petition Date, the Bankruptcy Court shall have entered the Final DIP Order and such Final DIP Order shall be in full force and effect and shall not have been (A) vacated, reversed, or stayed, or (B) amended or modified except as otherwise agreed to in writing by the Administrative Agent.
(b) The following Case Milestones in respect of an Acceptable Plan shall be achieved:
(i) Not later than September 6, 2020, the Bankruptcy Court shall have entered an order (the “Confirmation Order”) confirming the Acceptable Plan and corresponding disclosure statement (the “Disclosure Statement”), in each case, in form and substance acceptable to the Administrative Agent and the Pre-Petition Agent.
(ii) Not later than fourteen (14) days after the entry of the Confirmation Order, the effective date of the Acceptable Plan shall have occurred and the Credit Parties shall have discharged the Obligations by (i) Payment in Full of the Obligations or (ii) such other treatment as acceptable to the Majority Lenders and the Credit Parties.