Convertible Notes Claims. 12. The Ballots the Debtor used to solicit votes to accept or reject the Plan from holders in the Voting Classes adequately addressed the particular needs of this Chapter 11 Case and were appropriate for holders of Claims in the Voting Classes to vote to accept or reject the Plan.
Convertible Notes Claims. On the Plan Effective Date, each Holder of an allowed 1L Convertible Notes Claim will receive, in full and final satisfaction of such 1L Convertible Notes Claim, such Holder’s pro rata share, calculated as if the DIP Claims were included in the Class 3 1L Convertible Notes Claims, of (i) the Series A Units or Series A-1 Units, after taking into account the Series A Units and Series A-1 Units issued on account of the DIP Claims, and (ii) the Class C Magnetar Units. Impaired;
Convertible Notes Claims. If the class of EXXI Convertible Notes Claims votes to accept the Plan, holders of EXXI Convertible Notes Claims shall receive their pro rata share of the Warrant Package; provided, however that if the class of EXXI Convertible Claims votes to reject the Plan, holders of EXXI Convertible Claims will not receive a distribution under the Plan. General Unsecured Claims To be determined for all Debtors on terms satisfactory to the Debtors and the Majority Restructuring Support Parties. EXXI Preferred Stock EXXI Preferred Stock shall be cancelled and extinguished, and holders of EXXI Preferred Stock shall not receive or retain any property or assets on account of such interests. EXXI Common Stock EXXI Common Stock shall be cancelled and extinguished, and holders of EXXI Common Stock shall not receive or retain any property or assets on account of such interests. Intercompany Claims Intercompany Claims shall be reinstated, compromised, or cancelled, at the option of the Debtors with the consent of the Majority Restructuring Support Parties. Intercompany Interests Intercompany Interests shall be reinstated, compromised, or cancelled, at the option of the Debtors with the consent of the Majority Restructuring Support Parties; provided that existing equity interests in the entity designated as New Parent as set forth herein, if a Debtor entity, shall be cancelled in accordance with the Transaction Steps. ____________________________ 2 To be determined on a debtor-by-debtor basis. 3 Subject to ongoing negotiations with the First Lien Lenders
