Confirmation of Plan. The City agrees to use its best efforts to obtain confirmation of, and to implement, a plan of adjustment (“Plan”) that is consistent with the terms of this MOU, or as applicable, its successor MOU. All of the provisions of this Article except 2(c) shall be null and void in the event that the Plan contemplated by this Agreement is not confirmed and does not become effective.
Confirmation of Plan. To the knowledge of the officers of the Company, the Company has not taken any action, or failed to take any action, which might prevent, materially impede or delay or result in the revocation of (i) the confirmation of the Plan (as provided in Section 1144 of the Bankruptcy Code), (ii) a full and complete discharge (to the fullest extent possible under Section 1141(d) of the Bankruptcy Code) of the debts of the Company intended to be discharged under the Plan, and (iii) the vesting upon the entry of the Confirmation Order of the property of the Company in the reorganized Company free and clear of all claims and interests of creditors and equity security holders except as otherwise provided in the Plan.
Confirmation of Plan. The Plan shall have been confirmed by the Bankruptcy Court, and the confirmation order relating to the Plan (the "Confirmation Order") shall have been entered.
Confirmation of Plan. The Bankruptcy Court shall have entered an order (the "Confirmation Order"), confirming the Plan, which shall have become a Final Order, and the Plan shall have been consummated and become effective and binding on WCG and all creditors, interest holders and parties in interest. The foregoing conditions are for the sole benefit of Purchaser and may be waived by Purchaser, in whole or in part, at any time and from time to time in its sole discretion.
Confirmation of Plan. A plan of reorganization under Chapter 11 of the Bankruptcy Code shall be confirmed for any of the TCEH Debtors that owns any of the Principal Properties that does not either (i) provide for termination of the Commitments hereunder and the indefeasible payment in full in cash of the Obligations (other than Contingent Obligations) on the effective date of such plan or (ii) constitute the Existing Plan or an Alternative Acceptable Plan; then, and in any such event, and at any time thereafter, if any Event of Default shall then be continuing, subject in each case to the terms and conditions of the DIP Order, the Administrative Agent may and, upon the written request of the Required Lenders, shall, by five calendar days’ written notice to the Borrower, take any or all of the following actions, without prejudice to the rights of the Administrative Agent or any Lender to enforce its claims against the Borrower, except as otherwise specifically provided for in this Agreement: (i) declare the Commitments terminated, whereupon the Commitments, if any, of each Lender and each Letter of Credit Issuer shall forthwith terminate immediately and any Fees theretofore accrued shall forthwith become due and payable without any other notice of any kind; (ii) declare the principal of and any accrued interest and Fees in respect of any or all Loans and any or all Obligations owing hereunder and under any other Credit Document to be, whereupon the same shall become, forthwith due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and/or (iii) terminate any Letter of Credit that may be terminated in accordance with its terms.
Confirmation of Plan. The Joint Plan shall have been confirmed by final order of the bankruptcy court and all conditions to the effectiveness of the Joint Plan shall have been satisfied or waived prior to the Termination Date.
Confirmation of Plan. (i) The Plan shall be effective, (ii) the Bankruptcy Court shall have entered a Confirmation Order, the Canadian Court shall have entered the Canadian Recognition Order and the Canadian Sanction Order in the Canadian Proceedings and no such order shall have been stayed, (iii) no executory contracts or unexpired leases shall have been rejected except as permitted by the Plan, and (iv) there shall have been no amendment to the Plan, the Plan Sponsor Order, the Canadian Recognition Order, the Confirmation Order or the Canadian Sanction Order, except as may be permitted by the Plan.
Confirmation of Plan. The Plan shall be effective, the Bankruptcy Court shall have entered a Confirmation Order, the Canadian Court shall have entered the Canadian Sanction Order in the Canadian Proceedings and no such order shall have been stayed.
Confirmation of Plan. The Bankruptcy Court shall have issued a Confirmation Order, which is not subject to any stay or injunction. The Confirmation Order shall incorporate the terms hereof, including but not limited to, a negotiated compromise of the amounts due and owing to the IRS and DOJ for acceptance of Plan treatment within the parameters of the funds generated by this Agreement and as agreed to by the Committee.
Confirmation of Plan. (i) The Bankruptcy Court shall have entered an order in form and substance satisfactory to the Requisite Lenders confirming the Plan (with only such amendments thereto satisfactory to the Requisite Lenders in their reasonable judgment) and approving and authorizing the transactions contemplated thereby and the continuation of Liens to secure the Obligations after the Conversion Date and containing a release in favor of the Administrative Agent and the Lenders and their respective Affiliates, (ii) the New Organizational Documents (as defined in the Plan) shall have been adopted in form and substance satisfactory to the Administrative Agent and (iii) all conditions precedent to the effectiveness of the Plan (other than the obtaining of extensions of credit under this Agreement) shall have been satisfied (or duly waived) and the Plan shall be effective.
