Common use of Court Supervision Clause in Contracts

Court Supervision. The Company and the Executive anticipate that the Company will be able to implement its strategies without the need for a court- supervised proceeding. To the extent that it is determined by the Board of Directors that such a court-supervised proceeding is necessary or appropriate, the Company shall, as expeditiously as possible consistent with the best interests of the creditors and the shareholders of the Company, seek the approval of the arrangements contemplated by the Change in Control Agreement, the Severance Agreement and this Supplemental Compensation Agreement.