Motion for Bankruptcy Court Approval Sample Clauses

Motion for Bankruptcy Court Approval. Oncor agrees to use commercially reasonable efforts to cause EFH and EFIH (i) to file a motion with the Bankruptcy Court, requesting Bankruptcy Court Approval and (ii) to take all other actions reasonably required to obtain Bankruptcy Court Approval, in each case as promptly as practicable after the date hereof.
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Motion for Bankruptcy Court Approval. Within two (2) business days after the date of execution of this Agreement, Seller shall file with the Court a motion (the "Motion") to approve the execution, delivery and performance by Seller of this Agreement and the sale of the Shares to Buyer, free and clear of liens, claims and interests pursuant to Bankruptcy Code ss. 363, subject to higher or better offer obtained through bidding procedures approved by the Court pursuant to the Motion (the "Bidding Procedures"). The Motion shall seek expedited entry of an order by the Court (the "Interim Order") approving the Bidding Procedures and Seller's obligations pursuant to Section 4.8. Following entry of the Interim Order, Seller shall attempt to elicit higher and better offers for the Shares in accordance with the Bidding Procedures, shall conduct any auction required by the Bidding Procedures, and shall seek entry of an order approving the sale of the Shares, free and clear of liens, claims and interests pursuant to Bankruptcy Code ss. 363, either to Buyer in accordance with this Agreement or to Buyer or another offeror pursuant to an alternative stock purchase agreement that culminates from the Bidding Procedures or any auction conducted in accordance with the Bidding Procedures. Seller shall provide appropriate notice of the Motion and the relief sought therein to all Persons entitled to such notice in the Chapter 11 Case and shall diligently seek the Court's entry of such order at or in connection with the hearing (the "Hearing") on the Motion.
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Motion for Bankruptcy Court Approval. (a) Within two (2) Business Days after the date of execution of this Agreement, the Seller shall file with the Bankruptcy Court a motion (the "Motion") to approve the execution, delivery and performance by the Seller of this Agreement and the sale of the Shares to the Buyer free and clear of all liens, security interests, pledges, encumbrances, adverse claims and demands of every kind, character and description whatsoever, pursuant to Section 363 of the Bankruptcy Code, subject to higher or better offer obtained through bidding procedures approved by the Court pursuant to the Motion (the "Bidding Procedures"). The Motion shall seek expedited entry of an order by the Bankruptcy Court (the "Interim Order") approving the Bidding Procedures and the Seller's obligations pursuant to Section 6.13. The Motion, Bidding Procedures and Interim Order shall all be in form and substance acceptable to Buyer. Seller shall use commercially reasonable best efforts in good faith to obtain the entry by the Bankruptcy Court of the Interim Order within ten (10) Business Days after the filing of the Motion at or in connection with the hearing (the "Hearing") on the Motion.
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Related to Motion for Bankruptcy Court Approval

  • Bankruptcy Court Approval (a) Promptly after the date hereof, CTC shall file the Plan of Reorganization with the Bankruptcy Court in the form of Exhibit B hereto (the "POR") seeking, among other things, the entry of an order of the Bankruptcy Court (the "Bankruptcy Court Order") that authorizes the Merger and the related transactions contemplated by this Agreement and confirmation of the POR. The Bankruptcy Court Order and the POR must be in form and substance satisfactory to NCO; provided, however, that CTC may make non-material changes to the POR without the consent of NCO. Notwithstanding the foregoing and without limiting the foregoing materiality standard contained herein, CTC agrees that each of the following changes to the POR (and the Bankruptcy Court Order to the extent the same effectuates a change in the POR) shall be subject to the prior written approval of NCO: (i) any increases in the payments or distributions to be received by unsecured creditors or equity holders; (ii) any changes to any of the release provisions contained in the POR; (iii) the addition of any class of claims or equity interests, deletion of any class of claims or equity interests or the reclassification of an equity interest or claim; (iv) the assumption or rejection of executory contracts; (v) any changes to the conditions to the Effective Date of the POR or any deadlines relating to the entry of any orders, Confirmation Date or Effective Date under the POR; (vi) any change to the POR which would make the same inconsistent with the terms and provisions of this Agreement; (vii) any material change to the treatment or classification of the beneficiaries under the Litigation Trust; (viii) any changes affecting the Services Agreement or the ability to assume any existing servicing agreements and assignment of the same to NCOFS; or (ix) the treatment of the Secured Claim of Sunrock. Items (i) - (ix) above shall in no way be deemed a limitation on the "materiality" provision contained herein and NCO reserves its rights as to any other changes and as to whether the same are material.

  • Bankruptcy Court Order The Interim Bankruptcy Court Order or the Final Bankruptcy Court Order, as the case may be, is in full force and effect, and has not been reversed, stayed, modified or amended absent the joinder and consent of the Agent and the Borrower.

  • Court Approval No later than the fifth business day after the Effective Date, Purchaser shall file an action (“Action”) against Company in the Superior Court of the State of California for the County of Los Angeles (the “Court”) for collection of the Claim. Purchaser shall seek to settle the Action on terms acceptable to Purchaser in its sole discretion and, by appropriate motion or other pleading, shall seek approval from the Court of such settlement in accordance with Section 3(a)(10) of the Securities Act of 1933, as amended (the “Securities Act”).

  • Bankruptcy Court Matters Promptly, copies of all pleadings, motions, applications, and other documents filed by any Credit Party with the Bankruptcy Court or distributed by any Credit Party to the office of the United States Trustee or to any official committee of creditors or interest holders.

  • Approval Order The Bankruptcy Court shall have entered the Approval Order and such Order shall be a Final Order.

  • Sale Order The Bankruptcy Court shall have entered the Sale Order and the Sale Order shall be a Final Order.

  • Final Order If the Interim Order is obtained and the Arrangement Resolution is passed at the Meeting as provided for in the Interim Order and as required by applicable Law, subject to the terms of this Agreement, the Company shall as soon as reasonably practicable thereafter, and in any event within three Business Days thereafter, take all steps necessary or desirable to submit the Arrangement to the Court and diligently pursue an application for the Final Order pursuant to Division 5 of Part 9 of the BCBCA.

  • Plan of Reorganization (a) If, in any Insolvency Proceeding involving a Grantor, debt obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor are distributed pursuant to a plan of reorganization or similar dispositive restructuring plan, both on account of First Lien Obligations and on account of Second Lien Obligations, then, to the extent the debt obligations distributed on account of the First Lien Obligations and on account of the Second Lien Obligations are secured by Liens upon the same property, the provisions of this Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations.

  • Interim Order The notice of motion for the application referred to in Section 2.1(a) shall request that the Interim Order provide, among other things:

  • Filing Proofs of Claim In case of any receivership, insolvency, bankruptcy, reorganization, arrangement, adjustment, composition or other proceedings affecting Mortgagor, Mortgagee shall, to the extent permitted by law, be entitled to file such proofs of claim and other documents as may be necessary or advisable in order to have the claims of Mortgagee allowed in such proceedings for the Obligations secured by this Mortgage at the date of the institution of such proceedings and for any interest accrued, late charges and additional interest or other amounts due or that may become due and payable hereunder after such date.

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