Common use of Manner of Payment under the Plan Clause in Contracts

Manner of Payment under the Plan. Unless the Person receiving a Plan Distribution agrees otherwise, any Plan Distribution to be made in Cash under the Plan shall be made, at the election of the Disbursing Agent, by check drawn on a domestic bank or by wire transfer from a domestic bank. Cash payments to foreign creditors may, in addition to the foregoing, be made, at the option of the Disbursing Agent in such funds and by such means as are necessary or customary in a particular foreign jurisdiction.

Appears in 4 contracts

Samples: Plan Support Agreement, Restructuring Plan Support Agreement (Gsi Group Inc), Noteholder Restructuring (Gsi Group Inc)

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Manner of Payment under the Plan. Unless a Holder of an Allowed Claim and the Person receiving a Plan Distribution agrees otherwiseDisbursing Agent otherwise agree, any Plan Distribution distribution to be made in Cash under the Plan shall be made, at the election of the Disbursing Agent, by check drawn on a domestic bank or by wire transfer from a domestic bank. Cash payments to foreign creditors may, in addition to the foregoing, be made, made at the option of the Disbursing Agent in such funds and by such means as are necessary or customary in a particular foreign jurisdiction.

Appears in 1 contract

Samples: Restructuring Support Agreement (American Apparel, Inc)

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