Common use of Discharge of Claims and Termination of Interests Clause in Contracts

Discharge of Claims and Termination of Interests. (a) As of the Effective Date, except as otherwise provided in this Plan or the Confirmation Order and with respect to the Secured Funded Debt Claims, only upon payment of the Secured Funded Debt Claims in full as provided in this Plan, the rights afforded under this Plan and the treatment of Claims and Interests under this Plan shall be in exchange for and in complete satisfaction, discharge and release of all Claims and satisfaction or termination of all Interests, including any Claims arising under the Secured Funded Debt Agreements, the DIP Facility Documents, the DIP Facility Order, the Securitization Facility and the Securitization Order; provided, however, that Claims for indemnification under the Secured Funded Debt Agreements shall survive consummation of the Plan and shall not be discharged or released. Except as otherwise provided in this Plan or the Confirmation Order, Confirmation shall, as of the Effective Date: (i) discharge the Debtors from all Claims or other debts that arose before the Effective Date, and all debts of the kind specified in sections 502(g), 502(h) or 502(i) of the Bankruptcy Code, whether or not (w) a Proof of Claim is filed or deemed filed pursuant to section 501 of the Bankruptcy Code, (x) a Claim based on such debt is allowed pursuant to section 502 of the Bankruptcy Code (y) the holder of a Claim based on such debt has accepted this Plan or (z) such Claim is listed in the Schedules; and (ii) satisfy, terminate or cancel all Interests and other rights of equity security holders in the Debtors.

Discharge of Claims and Termination of Interests. (aPursuant to section 1141(d) As of the Bankruptcy Code, and except as otherwise specifically provided in the Restructuring Documents, the Plan, or in any contract, instrument, or other agreement or document created or entered into pursuant to the Plan, the distributions, rights, and treatment that are provided in the Plan shall be in complete satisfaction, discharge, and release, effective as of the Effective Date, except as otherwise provided in this Plan of Claims (including any Intercompany Claims resolved or compromised after the Confirmation Order Effective Date by the Reorganized Debtors), Interests, and with respect Causes of Action of any nature whatsoever, including any interest accrued on Claims or Interests from and after the Petition Date, whether known or unknown, against, liabilities of, Liens on, obligations of, rights against, and interests in, the Debtors or any of their assets or properties, regardless of whether any property shall have been distributed or retained pursuant to the Secured Funded Debt Claims, only upon payment Plan on account of the Secured Funded Debt Claims in full as provided in this Plan, the rights afforded under this Plan and the treatment of such Claims and Interests under this Plan shall be in exchange for and in complete satisfaction, discharge and release of all Claims and satisfaction or termination of all Interests, including any Claims arising under the Secured Funded Debt Agreementsdemands, the DIP Facility Documentsliabilities, the DIP Facility Order, the Securitization Facility and the Securitization Order; provided, however, Causes of Action that Claims for indemnification under the Secured Funded Debt Agreements shall survive consummation of the Plan and shall not be discharged or released. Except as otherwise provided in this Plan or the Confirmation Order, Confirmation shall, as of arose before the Effective Date: , any liability (iincluding withdrawal liability) discharge to the extent such Claims or Interests relate to services performed by employees of the Debtors prior to the Effective Date and that arise from all Claims a termination of employment, any contingent or other debts that arose non-contingent liability on account of representations or warranties issued on or before the Effective Date, and all debts of the kind specified in sections 502(g), 502(h) ), or 502(i) of the Bankruptcy Code, in each case whether or not not: (w1) a Proof of Claim based upon such debt or right is filed Filed or deemed filed Filed pursuant to section 501 of the Bankruptcy Code, ; (x2) a Claim or Interest based on upon such debt debt, right, or interest is allowed Allowed pursuant to section 502 of the Bankruptcy Code Code; or (y3) the holder Holder of such a Claim based on such debt or Interest has accepted this the Plan. The Confirmation Order shall be a judicial determination of the discharge of all Claims (other than the Reinstated Claims) and Interests (other than the Intercompany Interests that are Reinstated) subject to the occurrence of the Effective Date, except as otherwise specifically provided in the Plan or (z) such Claim is listed in any contract, instrument, or other agreement or document created or entered into pursuant to the Schedules; and (ii) satisfy, terminate or cancel all Interests and other rights of equity security holders in the DebtorsPlan.

Discharge of Claims and Termination of Interests. (aPursuant to section 1141(d) As of the Effective DateBankruptcy Code, and except as otherwise provided in this Plan or the Confirmation Order and with respect to the Secured Funded Debt Claims, only upon payment of the Secured Funded Debt Claims in full as specifically provided in this Plan, the rights afforded under Definitive Documents, or in any contract, instrument, or other agreement or document created or entered into pursuant to this Plan Plan, the distributions, rights, and the treatment of Claims and Interests under that are provided in this Plan shall be in exchange for and in complete satisfaction, discharge discharge, and release of all Claims and satisfaction or termination of all Interestsrelease, including any Claims arising under the Secured Funded Debt Agreements, the DIP Facility Documents, the DIP Facility Order, the Securitization Facility and the Securitization Order; provided, however, that Claims for indemnification under the Secured Funded Debt Agreements shall survive consummation of the Plan and shall not be discharged or released. Except as otherwise provided in this Plan or the Confirmation Order, Confirmation shall, effective as of the Effective Date: , of Claims (i) discharge including any Intercompany Claims resolved or compromised after the Effective Date by the Reorganized Debtors), Interests, and Causes of Action of any nature whatsoever, including any interest accrued on Claims or Interests from and after the Petition Date, whether known or unknown, against, liabilities of, Liens on, obligations of, rights against, and Interests in, the Debtors from all or any of their assets or properties, regardless of whether any property shall have been distributed or retained pursuant to this Plan on account of such Claims and Interests, including demands, liabilities, and Causes of Action that arose before the Effective Date, any liability (including withdrawal liability) to the extent such Claims or other debts Interests relate to services performed by employees of the Debtors prior to the Effective Date and that arose arise from a termination of employment, any contingent or non-contingent liability on account of representations or warranties issued on or before the Effective Date, and all debts of the kind specified in sections 502(g), 502(h) ), or 502(i) of the Bankruptcy Code, in each case whether or not not: (wi) a Proof of Claim based upon such debt or right is filed Filed or deemed filed Filed pursuant to section 501 of the Bankruptcy Code, ; (xii) a Claim or Interest based on upon such debt debt, right, or Interest is allowed Allowed pursuant to section 502 of the Bankruptcy Code Code; or (yiii) the holder Holder of such a Claim or Interest has accepted this Plan. The Combined Order shall be a judicial determination of the discharge of all Claims and Interests subject to the occurrence of the Effective Date. Pursuant to Bankruptcy Rule 9019 and in consideration for the distributions and other benefits provided pursuant to this Plan, the provisions of this Plan shall constitute a good faith compromise of all Claims, Interests, and controversies relating to the contractual, legal, and subordination rights that a Holder of a Claim based or Interest may have with respect to any Allowed Claim or Interest or any distribution to be made on account of such debt has accepted this Plan Allowed Claim or (z) Interest. The entry of the Combined Order shall constitute the Bankruptcy Court’s approval of the compromise or settlement of all such Claim Claims, Interests, and controversies as well as a finding by the Bankruptcy Court that such compromise or settlement is listed in the Schedules; best interests of the Debtors, their Estates, and (ii) satisfy, terminate or cancel all Holders of Claims and Interests and other rights of equity security holders in the Debtors.is fair, equitable, and