Liquidation Plan. The final Liquidation Plan shall be in form and substance satisfactory to Purchaser except for modifications that would not have an adverse effect upon the business, operations, properties, assets, condition (financial or otherwise) or prospects of Reorganized Covanta and the Subsidiaries.
Liquidation Plan. After liquidating the JVC’s property and preparing the balance sheet and the list of property, the liquidation team shall formulate a liquidation plan and submit it to the shareholders’ meeting for confirmation.
Liquidation Plan. Upon expiration of the Joint Venture Term as described in Article 18 hereof, or upon earlier termination of this Contract pursuant to Article 20.01 hereof, the liquidation plan shall provide first for payment of the Company's debts and expenses. Following such payments, the Company's assets shall be distributed to Party A, Party B and Party C proportionally in accordance with each Party's registered capital share of the Company.
Liquidation Plan. The lender will (within 30 days after a decision to liq- uidate) submit to the Agency, in writ- ing, a proposed, detailed liquidation plan. Upon approval by the Agency of the liquidation plan, the lender will commence liquidation. The lender’s liquidation plan must include, but is not limited to, the following:
(1) Such proof as the Agency requires to establish the lender’s ownership of the guaranteed loan notes and related security instruments, a copy of the payment ledger or other documenta- tion which reflects the outstanding loan balance and accrued interest to date, and the method of computing the interest;
(2) A complete list of collateral;
(3) The recommended liquidation methods for making the maximum col- lection possible on the indebtedness and the justification for such methods, including the recommended action for acquiring and disposing of all collat- eral;
(4) Necessary steps for preservation of the collateral;
(5) Copies of the borrower’s latest available financial statements;
(6) An itemized list of estimated liq- uidation expenses expected to be in- curred and justification for each ex- pense;
(7) A schedule to periodically report to the Agency on the progress of the liquidation;
(8) Estimated protective advance amounts with justification;
(9) Proposed protective bid amounts on collateral to be sold at auction and a discussion of how the amounts were determined;
(10) If a voluntary conveyance is con- sidered, the proposed amount to be credited to the guaranteed debt;
(11) Legal opinions, as needed; and
(12) If the outstanding balance of principal and interest is less than $250,000, the lender will obtain an esti- mate of fair market and potential liq- uidation value of the collateral. If the outstanding balance of principal and interest is $250,000 or more, the lender will obtain an independent appraisal report on all collateral securing the loan which will reflect the fair market value and potential liquidation value. The independent appraiser’s fee will be shared equally by the Agency and the lender.
Liquidation Plan. Section 6.1(a) Employees; Transferred Employees
Liquidation Plan. The Liquidation Committee shall also prepare a liquidation plan (the “Liquidation Plan”) which shall be submitted to shareholders for approval. For the purpose of preparing the Liquidation Plan, the Liquidation Committee shall appoint a PRC certified public accounting firm affiliated with an international accounting firm as the asset valuation institution (the “Asset Valuation Institution”) and cause such Asset Valuation Institution to carry out the inspection of all the assets, indebtedness and other liabilities of the Company and a detailed valuation of all such assets (the “Liquidation Value”). The Liquidation Committee shall notify each Party of the Liquidation Value within sixty (60) days after the appointment of the Asset Valuation Institution (the “Liquidation Value Notice”). Each Party may, within fifteen (15) days of the date of the Liquidation Value Notice, notify the other Parties and the Liquidation Committee of its refusal to accept the Liquidation Value on any or all of the assets subject to liquidation (the “Refusal Notice”). Should any Party notify the other Parties and the Liquidation Committee with such Refusal Notice within the relevant time period set forth above, the Parties shall, within thirty (30) days of such Refusal Notice, agree upon a revised Liquidation Value on any or all of the assets of the Company to be liquidated. Failure by the Parties to reach an agreement on the revised Liquidation Value within thirty (30) days of the Refusal Notice or failure by any Party to notify the other Parties and the Liquidation Committee with such Refusal Notice within fifteen (15) days of the date the Liquidation Value Notice shall be deemed to constitute agreement to the Liquidation Value. The liquidation plan shall be approved by the Shareholders of the Company in accordance with the relevant provisions of the Company Law. Upon the approval of the Liquidation Plan by the Shareholders, the Liquidation Committee shall submit the Liquidation Plan to the relevant Governmental Authority of the PRC for records and then carry out the liquidation in accordance with the Liquidation Plan.
Liquidation Plan. The Credit Parties (i) will cooperate in preparing and will agree to a liquidation plan for the Borrower’s receivables and other assets reasonably acceptable to the Lender Parties within 30 days of the Petition Date that includes facilitating call center and other operations by HFD or another party selected by the Lender Parties and (ii) agree to assist in the implementation of such plan if a Termination Event occurs.
Liquidation Plan. Perform on a timely basis and comply with the terms of the liquidation plan attached as Exhibit C hereto.
Liquidation Plan. 47 7.6. Confirmation Orders................................ 47 7.7. Approval Orders.................................... 47
Liquidation Plan. If a default can- not be cured after considering servicing options and mediation, the lender will proceed with liquidation of the collat- eral in accordance with the following:
(1) Within 150 days after the payment due date, all lenders will prepare a liq- uidation plan. Standard eligible and CLP lenders will submit a written liq- uidation plan to the Agency which in- cludes:
