Creditors’ Committee. (a) At the meeting under section 341(a) of this title, creditors that may vote for a trustee under section 702(a) of this title may elect a commit- tee of not fewer than three, and not more than eleven, creditors, each of whom holds an allow- able unsecured claim of a kind entitled to dis- tribution under section 726(a)(2) of this title.
Creditors’ Committee. Notwithstanding anything herein to the contrary, if any Consenting Term Lender is appointed to and serves on an official committee of unsecured creditors in the Chapter 11 Case, the terms of this Agreement shall not be construed so as to limit such Consenting Term Lender’s exercise of its fiduciary duties to any person arising from its service on such committee, and any such exercise of such fiduciary duties shall not be deemed to constitute a breach of the terms of this Agreement. All Parties agree they shall not oppose the participation of any of the Consenting Term Lenders on any official committee of unsecured creditors formed in the Chapter 11 Xxxx
Creditors’ Committee. All Parties agree that they shall not oppose, and nothing in this Agreement shall prohibit, the participation of any of the Consenting Senior Note Holders, the indenture trustee for the 2019 Notes, or indenture trustee the 2020 Notes on any official committee of unsecured creditors formed in the Chapter 11 Cases. Notwithstanding anything herein to the contrary, if any Consenting Senior Note Holder (or indenture trustee) is appointed to and serves on an official committee of creditors in the Chapter 11 Cases, the terms of this Agreement shall not be construed so as to limit such Consenting Senior Note Holder’s (or indenture trustee’s) exercise of its fiduciary duties to any person arising from its service on such committee, and any such exercise of such fiduciary duties shall not be deemed to constitute a breach of the terms of this Agreement; provided, that, nothing in this Agreement shall be construed as requiring any Consenting Senior Note Holder to serve on any official committee in any of the Chapter 11 Cases.
Creditors’ Committee. The term "Creditors' Committee" means the Official Committee of Unsecured Asbestos Claimants initially appointed by the United States Trustee in the Reorganization Cases on or about April 21, 2004.
Creditors’ Committee. In order to supervise compliance with the provisions of the Agreement, from the date of the Deliberative Meeting and as long as the Agreement remains in force there will be a non- remunerated Creditors Committee (the “Committee” or "Creditors Committee"). The Committee shall consist of five members and their respective alternates, of which two shall be elected by the International Noteholders, one shall be elected by the Bank Facility Creditor and two shall be elected by the Local Noteholders. Each of the above-mentioned creditors shall have the right to remove their representative on the Creditors Committee and appoint their replacement. The members and alternates of the Creditors' Committee who will be representatives of the Creditors will be elected at the Deliberative Meeting. The Debtor Company, with its respective advisors, may attend the meetings of the Creditors Committee with the right to speak, but without having the right to vote. The meetings of the Creditors Committee shall be constituted by an absolute majority of its members, on the first summons, and with those who attend, on the second summons. Decisions shall be taken by an absolute majority of the members of the Committee at the first summons and by an absolute majority of those attending at the second summons, unless a different quorum is required by this Agreement or by the Committee itself. The Creditors Committee shall determine the manner in which it operates and shall determine the periodicity of its meetings. However, the administration of the Debtor Company or the Insolvency Interventor, as the case may be, may require the Creditors Committee to meet to hear and resolve specific matters. For these purposes, a registered letter will be sent to the address of the legal representative of the respective members of the Creditors Committee or to their e- mails (registered at the first constituent session of this Creditors Committee), at least two banking days in advance, requiring the meeting, indicating the matter to be consulted or discussed. Consecutive summonses must be at least two banking days between the first and second summonses. If, at their request, the Creditors Committee does not meet after two consecutive summonses, the corresponding authorizations will be requested from the competent Court. This time limit and the summons formalities may be waived if the Committee meets in the presence of all its members, the Interventor and the Debtor Company. In the event that one or m...
Creditors’ Committee. Notwithstanding anything herein to the contrary, if any Consenting Noteholder or Consenting Lender is appointed to, and serves on an official committee of creditors in the Cases, the terms of this Agreement shall not be construed so as to limit such Consenting Noteholder’s or Consenting Lender’s exercise of its fiduciary duties arising from its service on such committee; provided, however, that service as a member of a committee shall not relieve such Consenting Noteholder or Consenting Lender of its obligations to affirmatively support the Restructuring on the terms and conditions set forth in this Agreement and the Restructuring Term Sheet.
Creditors’ Committee. As of the Effective Date, the duties of the Creditors’ Committee, if any, shall terminate, except with respect to the pursuit of or objection to any Fee Claims.
Creditors’ Committee. The Parties agree not to request that the United States Trustee appoint an official committee of creditors in the Chapter 11 Case. Notwithstanding anything herein to the contrary, if any Consenting Noteholder is appointed to and serves on an official committee of unsecured creditors in the Chapter 11 Case, the terms of this Agreement shall not be construed so as to limit such Consenting Noteholder’s exercise of its fiduciary duties to any person arising from its service on such committee, and any such exercise of such fiduciary duties shall not be deemed to constitute a breach of the terms of this Agreement. All Parties agree that they shall not oppose the participation of any of the Consenting Noteholders or the trustee for the Notes on any official committee of unsecured creditors formed in the Chapter 11 Case.
Creditors’ Committee. Notwithstanding anything herein to the contrary, if any Consenting Claim Holder is appointed to and serves on an official committee of unsecured creditors in the Chapter 11 Cases, the terms of this Agreement shall not be construed so as to limit such Consenting Claim Holder’s exercise of its fiduciary duties to any person or entity arising from its service on such committee, and any such exercise of such fiduciary duties shall not be deemed to constitute a breach of the terms of this Agreement. All Parties agree they shall not oppose the participation of any of the Consenting Claim Holders on any official committee of unsecured creditors formed in the Chapter 11 Cases.
Creditors’ Committee. The Parties agree not to request that the United States Trustee appoint an official committee of creditors in the Chapter 11 Cases.
