Modification to Proposal Clause Samples

Modification to Proposal. Subject to the prior consent and approval by the Investor, the Interim Receiver reserves the right at any time prior to the Creditors' Meeting to file any modification of, amendment or supplement to, the Proposal by way of a supplementary proposal and plan of reorganization. Any such amended or supplementary proposal shall forthwith be posted on the Trustee's Website, sent to the service list in the BIA Proceeding and filed with the Official Receiver as soon as practicable, in which case any such amended or supplementary proposal or proposals shall, for all purposes, be and be deemed to be a part of and incorporated into the Proposal. At the Creditors' Meeting, the Trustee shall provide all Unsecured Creditors in attendance with details of any modifications or amendments prior to the votes being taken to approve the Proposal. Subject to the provisions of the BIA and the Rules promulgated thereunder, after the Creditors' Meeting (and both prior to and subsequent to the Approval Order) and subject to the consent and approval by the Investor, the Interim Receiver may at any time and from time to time vary, amend, modify or supplement the Proposal.