Common use of Insolvency Proceeding Clause in Contracts

Insolvency Proceeding. (a) In connection with any Insolvency Proceeding (including any Potential Insolvency Proceeding) of Parent or any of its subsidiaries commenced after the date hereof, any and all applicable Definitive Documents (which shall be defined to comprise any and all documents in any Insolvency Proceeding that are substantially similar to the Definitive Documents set forth in the RSA (as defined in the Term Loan Agreement as of the date hereof) or are otherwise material to such proceeding (as may ultimately be defined and set forth in a new restructuring support agreement), and/or their non-U.S. equivalent for any Insolvency Proceeding commenced outside the U.S.) shall be, in form and substance, reasonably acceptable to the Required DDTL Approving Lenders. (b) In connection with, or in contemplation of, any potential or actual Insolvency Proceeding of the Parent or any of its subsidiaries commenced after the date hereof, any and all restructuring support agreements, transaction support agreements, lock-up agreements, or other similar agreements shall be, in form and substance, reasonably acceptable to the Required DDTL Approving Lenders. (c) In any Insolvency Proceeding of the Parent or any of its subsidiaries, the debtor in such proceeding shall, in good faith, seek relief from the bankruptcy court on a “first- day basis” to affirm and/or approve the agreements and other covenants of the Loan Parties set forth herein (including section 13 hereof), and such request shall be in form and substance reasonably acceptable to the Required DDTL Approving Lenders.

Insolvency Proceeding. (a) In connection with any Insolvency or Liquidation Proceeding (including any Potential Insolvency Proceeding) of Parent Holdings or any of its subsidiaries commenced after the date hereof, any and all applicable Definitive Documents (which shall be defined to comprise any and all documents in any Insolvency or Liquidation Proceeding that are substantially similar to the Definitive Documents set forth in the RSA (as defined in the Term Loan Agreement as of the date hereof) or are otherwise material to such proceeding (as may ultimately be defined and set forth in a new restructuring support agreement), and/or their non-U.S. equivalent for any Insolvency or Liquidation Proceeding commenced outside the U.S.) shall be, in form and substance, reasonably acceptable to the Required DDTL Approving Forbearing Lenders. (b) In connection with, or in contemplation of, any potential or actual Insolvency or Liquidation Proceeding of the Parent or any of its subsidiaries Company commenced after the date hereof, any and all restructuring support agreements, transaction support agreements, lock-up agreements, or other similar agreements shall be, in form and substance, reasonably acceptable to the Required DDTL Approving Forbearing Lenders. (c) In any Insolvency or Liquidation Proceeding of the Parent or any of its subsidiariesCompany, the debtor in such proceeding shall, in good faith, seek relief from the bankruptcy court on a “first- first-day basis” to affirm and/or approve the agreements and other covenants of the Loan Parties Company set forth herein (including section 13 14 hereof), and such request shall be in form and substance reasonably acceptable to the Required DDTL Approving Forbearing Lenders.