Chief Restructuring Officer. Use commercially reasonable efforts to cause Xxxxx Xxxxxxxxxx to continue (x) to be employed as the Borrower’s Chief Restructuring Officer and (y) to have the structure, scope and duties existing on the date hereof. In the event of the death, disability, incapacity, removal (for cause) or resignation of such Chief Restructuring Officer, employ a replacement Chief Restructuring Officer, reasonably satisfactory to the Agent, within 30 days.
Chief Restructuring Officer. Maintain at all times (other than as a result of not being approved by the Bankruptcy Court), a chief restructuring officer acceptable to the Required Lenders (it being understood that Xxxxx Xxxx is acceptable) with responsibilities reasonably satisfactory to the Required Lenders.
Chief Restructuring Officer. Borrower will continue to retain and engage the Chief Restructuring Officer and such Chief Restructuring Officer will (a) report to the Board of Directors of the Borrower and (b) will have those powers and duties set forth on Schedule 5.13. Upon the resignation or termination of the Chief Restructuring Officer or other occurrence rendering the Chief Restructuring Officer incapacitated or unavailable, subject to the approvals required under the Bankruptcy Court, the Borrower shall promptly (and no later than five (5) Business Days after such resignation, termination or such other occurrence) retain a replacement Chief Restructuring Officer acceptable to the Required Lenders and the Borrower (it being understood that any director or managing director (or a Person with a similar title) with previous experience as a chief restructuring officer (or similar experience) at Debtors’ Financial Advisor shall be deemed acceptable to the Required Lenders) and the scope of the engagement of such replacement Chief Restructuring Officer and fees shall be reasonably acceptable to the Required Lenders and the Borrower.
Chief Restructuring Officer. The Borrower shall have designated a Chief Restructuring Officer acceptable to the Administrative Agent and the Lenders to implement the restructuring pursuant to the Reorganization Plan.
Chief Restructuring Officer. At all times during the Fourth Forbearance Period, Borrowers shall continue to retain the Chief Restructuring Officer pursuant to that certain engagement letter dated November 8, 2012, by and between Borrowers and Xxxxx Xxxxxx.
Chief Restructuring Officer. After the date hereof, the CRO shall have those responsibilities set forth in Section 5.1(c) of the Debtor Disclosure Letter; provided, however, that at all times the responsibilities of the CRO shall include responsibility for allocation of costs under the Administrative Support Services Agreement unless otherwise provided in the Centerbridge Facility. After the date of this Agreement and prior to the Closing Date, the power and authority of the CRO shall not be changed, and the CRO shall not be removed or replaced, without the consent of Parent, such consent not to be unreasonably withheld, conditioned or delayed. If the CRO voluntary terminates his employment or is otherwise unable to perform his or her responsibilities, a replacement CRO shall be appointed, subject to Parent’s reasonable consent (not to be unreasonably withheld, conditioned or delayed).
Chief Restructuring Officer. Borrowers will continue to appoint, retain and engage the Chief Restructuring Officer on terms and conditions acceptable to the Agent, which will include, without limitation, assisting Borrowers in the management of their businesses, preparation of forecasts and projections, and the formulation and implementation of strategic initiatives in connection with the Bankruptcy Cases. Borrowers hereby and will continue to authorize and instruct the chief restructuring officer to (a) share with the Agent and Lenders all budgets, records, projections, financial information, reports and other information relating to the Collateral, the financial condition, operations and the sale, marketing or reorganization process of the Borrowers’ businesses and assets as requested from time to time, except to the extent access to such information would compromise the Borrowers’ attorney-client privilege and (b) make himself available to Agent, the Co-Collateral Agents and the Lenders as reasonably requested by the Agent, the Co-Collateral Agents and the Lenders. Borrowers will provide the chief restructuring officer, complete access to all of the Borrowers’ books and records, all of Borrowers’ premises and to Borrowers’ management as and when deemed necessary by the chief restructuring officer or the Agent.
Chief Restructuring Officer. Employ a Chief Restructuring Officer and use commercially reasonable efforts to cause such Chief Restructuring Officer to continue to be employed in such capacity. In the event of the death, disability, incapacity, removal (for cause) or resignation of such Chief Restructuring Officer, employ a replacement Chief Restructuring Officer within 30 days.
Chief Restructuring Officer. No later than fourteen (14) calendar days after the Petition Date, the Company shall have selected and retained, subject to Bankruptcy Court approval, a chief restructuring officer reasonably acceptable to the Required Holders and the DIP ABL Agent (as defined in the Interim DIP Order).
Chief Restructuring Officer. On or prior to the date that is one hundred eighty (180) days following the Closing Date, the Administrative Agent shall have the option to request that the Borrower appoint a chief restructuring officer (a “Chief Restructuring Officer”). Upon such request, the Borrower shall engage a Chief Restructuring Office that is reasonably satisfactory to the Administrative Agent.
