Common use of Conditions Precedent to Confirmation Clause in Contracts

Conditions Precedent to Confirmation. The following are conditions precedent to confirmation of the Plan: (a) The Clerk of the Bankruptcy Court shall have entered an order or orders (i) approving the Disclosure Statement as containing “adequate information” pursuant to section 1125 of the Bankruptcy Code, (ii) authorizing the solicitation of votes with respect to the Plan, (iii) determining that all votes are binding and have been properly tabulated as acceptances or rejections of the Plan, (iv) confirming and giving effect to the terms and provisions of the Plan, (v) determining that all applicable tests, standards and burdens in connection with the Plan have been duly satisfied and met by the Debtors and the Plan, (vi) approving the Plan Documents, (vii) the Confirmation Order consistent with the Plan Support Agreement and (viii) authorizing the Debtors to execute, enter into, and deliver the Plan Documents and to execute, implement, and to take all actions otherwise necessary or appropriate to give effect to, the transactions and transfer of Assets contemplated by the Plan and the Plan Documents; (b) The Confirmation Order, the Plan Documents and the Plan are each in a form satisfactory to the Debtors and the Required Noteholders; (c) The Plan Support Agreement shall not have terminated in accordance with the terms thereof; and (d) The Confirmation Order shall include determinations that all of the settlements and compromises contained in the Plan meet the applicable standards under section 1123(b)(3) of the Bankruptcy Code and Bankruptcy Rule 9019 for approval and implementation.

Conditions Precedent to Confirmation. The following are conditions precedent to confirmation of the Plan: (a) The Clerk of the Bankruptcy Court shall have entered on the docket of the Chapter 11 Cases an order or orders (i) approving the Disclosure Statement as containing “adequate information” pursuant to section 1125 of the Bankruptcy Code, (ii) authorizing the solicitation of votes with respect to the Plan, (iii) determining that all votes are binding and have been properly tabulated as acceptances or rejections of the Plan, (iv) confirming and giving effect to the terms and provisions of the Plan, (v) determining that all applicable tests, standards and burdens in connection with the Plan have been duly satisfied and met by the Debtors and the Plan, (vi) approving the Plan Documents, (vii) the Confirmation Order consistent with the Plan Support Agreement and (viii) authorizing the Debtors to execute, enter into, and deliver the Plan Documents and to execute, implement, and to take all actions otherwise necessary or appropriate to give effect to, the transactions and transfer of Assets contemplated by the Plan and the Plan Documents; (b) The proposed Confirmation Order, the Order and Plan Documents and the Plan are each in a form and substance reasonably satisfactory to the Debtors and Debtors, the Required Noteholders, and, except in the case of the Backstop Commitment Agreement, the Equity Committee; (c) The Plan Support Agreement shall not have terminated in accordance with the terms thereof; and (d) The proposed Confirmation Order shall include determinations that all of the settlements and compromises contained in the Plan meet the applicable standards under section 1123(b)(3) of the Bankruptcy Code and Bankruptcy Rule 9019 for approval and implementation.

Conditions Precedent to Confirmation. The Confirmation of the Plan is subject to: (i) GLBR shall have received votes in favor of the Plan from the Holders of the Existing Notes sufficient to satisfy the requirements of section 1126(c) of the Bankruptcy Code; (ii) within one (1) business day following the execution of the Support Agreement, and prior to or concurrently with the commencement of the Chapter 11 Case, GLBR shall have disclosed all “Material, Non-Public Information” as provided in Section 8 of each of the Non-Disclosure Agreements; (iii) the Definitive Documents are conditions precedent in form and substance satisfactory to confirmation the Debtor, Holdings, FXCM, Leucadia, and the Required Consenting Noteholders; (iv) the Support Agreement shall not have been terminated and shall be in full force and effect and, to the extent not assumed by the Debtor prior to Confirmation, the Support Agreement shall not be (a) identified on the Schedule of Rejected Executory Contracts or Unexpired Leases or (b) the subject of a motion to reject, such that the Support Agreement will, pursuant to the terms of the Plan: , be assumed upon the Effective Date; (av) The Clerk Holdings shall have submitted to the jurisdiction of the Bankruptcy Court regarding all matters arising under the Plan and the transactions contemplated therein, and (vi) the Bankruptcy Court shall have entered an order or orders (i) approving approved the Disclosure Statement as containing “adequate information” pursuant information with respect to the Plan within the meaning of section 1125 of the Bankruptcy Code, (ii) authorizing the solicitation of votes with respect to the Plan, (iii) determining that all votes are binding and have been properly tabulated as acceptances or rejections of the Plan, (iv) confirming and giving effect to the terms and provisions of the Plan, (v) determining that all applicable tests, standards and burdens in connection with the Plan have been duly satisfied and met by the Debtors and the Plan, (vi) approving the Plan Documents, (vii) the Confirmation Order consistent with the Plan Support Agreement and (viii) authorizing the Debtors to execute, enter into, and deliver the Plan Documents and to execute, implement, and to take all actions otherwise necessary or appropriate to give effect to, the transactions and transfer of Assets contemplated by the Plan and the Plan Documents; (b) The Confirmation Order, the Plan Documents and the Plan are each in a form satisfactory to the Debtors and the Required Noteholders; (c) The Plan Support Agreement shall not have terminated in accordance with the terms thereof; and (d) The Confirmation Order shall include determinations that all of the settlements and compromises contained in the Plan meet the applicable standards under section 1123(b)(3) of the Bankruptcy Code and Bankruptcy Rule 9019 for approval and implementation.

Conditions Precedent to Confirmation. The following are conditions precedent to confirmation of the Plan: (a) The Clerk of the Bankruptcy Court shall have entered an order or orders (i) approving the Disclosure Statement as containing “adequate information” pursuant to section 1125 of the Bankruptcy Code, (ii) authorizing the solicitation of votes with respect to the Plan, (iii) determining that all votes are binding and have been properly tabulated as acceptances or rejections of the Plan, (iv) confirming and giving effect to the terms and provisions of the Plan, (v) determining that all applicable tests, standards and burdens in connection with the Plan have been duly satisfied and met by the Debtors and the Plan, (vi) approving the Plan Documents, and (vii) the Confirmation Order consistent with the Plan Support Agreement and (viii) authorizing the Debtors to execute, enter into, and deliver the Plan Documents and to execute, implement, and to take all actions otherwise necessary or appropriate to give effect to, the transactions and transfer of Assets contemplated by the Plan and the Plan Documents; (b) The Confirmation Order, the Plan Documents and the Plan are each in a form satisfactory to the Debtors and the Required Noteholders; (c) The Plan Support Agreement shall not have terminated in accordance with the terms thereofDebtors; and (dc) The Confirmation Order shall include determinations that all of the settlements and compromises contained in the Plan meet the applicable standards under section 1123(b)(3) of the Bankruptcy Code and Bankruptcy Rule 9019 for approval and implementation.