Common use of Creditors’ Committee Clause in Contracts

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

Appears in 2 contracts

Samples: Restructuring Support Agreement, Restructuring Support Agreement (Walter Investment Management Corp)

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Creditors’ Committee. Notwithstanding anything herein to the contrary, if any Consenting Term Lender Noteholder is appointed to and serves on an official committee of unsecured creditors appointed in the Chapter 11 CaseCases, the terms of this Agreement shall not be construed so as to limit such Consenting Term LenderNoteholder’s exercise (in its sole discretion) of its fiduciary duties to any person arising from its service on such committee, and any such exercise (in the sole discretion of such Consenting Noteholder) of such fiduciary duties shall not be deemed to constitute a breach of the terms of this Agreement. All Parties agree they ; provided, however, that nothing in this Agreement shall not oppose the participation of be construed as requiring any of the Consenting Term Lenders Noteholder to serve on any official committee of unsecured creditors formed in the any such Chapter 11 XxxxCase.

Appears in 2 contracts

Samples: Note Purchase Agreement, Restructuring and Lock Up Agreement (Constar International Inc)

Creditors’ Committee. Notwithstanding anything herein to the contrary, if any Consenting Term Lender Noteholder is appointed to and serves on an unsecured 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 LenderNoteholder’s exercise (in its sole discretion) of its fiduciary duties to any person arising from its service on such committee, and any such exercise (in the sole discretion of such Consenting Noteholder) of such fiduciary duties shall not be deemed to constitute a breach of the terms of this Agreement. All Parties agree they ; provided, however, that nothing in this Agreement shall not oppose the participation of be construed as requiring any of the Consenting Term Lenders Noteholder to serve on any official committee of unsecured creditors formed in the Chapter 11 XxxxCase.

Appears in 1 contract

Samples: Dune Energy Inc

Creditors’ Committee. Notwithstanding anything herein to the contrary, if any Consenting Term Lender Noteholder is appointed to and serves on an official committee of unsecured creditors in the ACG Chapter 11 CaseCases or the Xxxxxx Chapter 11 Cases, the terms of this Agreement shall not be construed so as to limit such Consenting Term LenderNoteholder’s exercise (in its sole discretion) of its fiduciary duties to any person arising from its service on such committee, and any such exercise (in the sole discretion of such Consenting Noteholder) of such fiduciary duties shall not be deemed to constitute a breach of the terms of this Agreement. All Parties agree they ; provided, further, that nothing in this Agreement shall not oppose the participation of be construed as requiring any of the Consenting Term Lenders Noteholder to serve on any official committee of unsecured creditors formed in the Chapter any such chapter 11 Xxxxcase.

Appears in 1 contract

Samples: Restructuring and Lock Up Agreement (Vertis Inc)

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Creditors’ Committee. All Parties agree that they shall not oppose, and nothing in this Agreement shall prohibit, the participation of any of the Consenting Noteholders or the Indenture Trustee on any official committee of unsecured creditors formed in the Chapter 11 Cases. Notwithstanding anything herein to the contrary, if any Consenting Term Lender Noteholder is appointed to and serves on an official committee of unsecured creditors in the Chapter 11 CaseCases, the terms of this Agreement shall not be construed so as to limit such Consenting Term LenderNoteholder’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 ; provided, that, nothing in this Agreement shall not oppose the participation of be construed as requiring any of the Consenting Term Lenders Noteholder to serve on any official committee in any of unsecured creditors formed in the Chapter 11 XxxxCases.

Appears in 1 contract

Samples: Restructuring Support Agreement (Penn Virginia Corp)

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