Conditions to Plan Implementation Clause Samples

Conditions to Plan Implementation. The implementation of this Plan shall be conditional upon the fulfillment, satisfaction or waiver (to the extent permitted by Section 6.2) of the following conditions: (a) this Plan shall have been approved by the requisite majority of Noteholders in conformity with the Interim Order and the CBCA as and to the extent required by the Court; (b) this Plan shall have been approved pursuant to the Final Order on terms consistent with the Support Agreement and shall be in form and substance satisfactory to the Company and the Supporting Noteholder, each acting reasonably;

Conditions to Plan Implementation. The implementation of this Plan shall be conditional upon the fulfillment, satisfaction or waiver (to the extent permitted by Section 6.2) of the following conditions: (a) The Court shall have granted the Final Order, the operation and effect of which shall not have been stayed, reversed or amended, and in the event of an appeal or application for leave to appeal, final determination shall have been made by the applicable appellate court; (b) If determined necessary by ICH and the Requisite Consenting Parties, acting reasonably, the Final Order shall have been recognized in recognition proceedings pursuant to applicable Law in the United States and all court materials (including any recognition order granted) in connection with the recognition proceedings shall be in form and substance acceptable to the Requisite Consenting Parties; (c) No Law shall have been passed and become effective, the effect of which makes the consummation of this Plan illegal or otherwise prohibited; (d) All conditions to implementation of this Plan set out in the Support Agreement shall have been satisfied or waived in accordance with their terms and the Support Agreement shall not have been terminated and the iAnthus Parties and Requisite Consenting Parties shall have delivered a Closing Certificate respecting same; (e) ICH shall be a public company following the implementation of the Plan and the Shares shall be approved for trading on the CSE, or if necessary, the NEO Exchange Inc. or on another stock exchange acceptable to the Secured Noteholders and the Initial Supporting Unsecured Debenture Holders, subject only to receipt of customary final documentation; and (f) The Petitioners shall have paid the reasonable and documented fees and expenses of the Company Advisors, the Secured Noteholder Advisors and the Initial Supporting Unsecured Debenture Holder Advisors up to and including the Effective Date.