Common use of Non-Cash Distributions Clause in Contracts

Non-Cash Distributions. If, in any bankruptcy, insolvency or liquidation case, any equity securities, debt securities or other non-cash consideration from the reorganized debtor is distributed pursuant to a plan of reorganization or similar dispositive restructuring plan, the amount of such non-cash consideration to be distributed to each of the Noteholders, the Additional Senior Secured Debt Holders and the Swap Creditors respectively, shall be determined in accordance with the priority of payment provisions set forth in Section 4.05(a) above and utilizing the valuation methodology set forth below. In addition, if, in any bankruptcy, insolvency or liquidation case, 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 on account of the Senior Secured Notes, on account of the Additional Senior Secured Debt and on account of the Secured Swap Obligations then, to the extent the debt obligations distributed on account of the Senior Secured Notes, on account of the Additional Senior Secured Debt and on account of the Secured Swap Obligations are secured by Liens upon the same property, the priority of payments provisions described in Section 4.05(a) above will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to such debt obligations.

Non-Cash Distributions. If, in any bankruptcy, insolvency or liquidation case, any equity securities, debt securities or other non-cash consideration from the reorganized debtor is distributed pursuant to a plan of reorganization or similar dispositive restructuring planplan after satisfaction of the Tranche 2 Sub-Facility Obligations, the amount of such non-cash consideration to be distributed to each of the Noteholders, and the other Additional Senior Secured Debt Holders and the Swap Creditors Holders, respectively, shall be determined in accordance with the priority of payment provisions set forth in Section 4.05(a) above and utilizing the valuation methodology set forth below. In addition, if, in any bankruptcy, insolvency or liquidation case, 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 on account of the Senior Secured Notes, on account of the Additional Senior Secured Debt and on account of the Secured Swap Obligations Tranche 2 Sub-Facility Obligations, then, to the extent the debt obligations distributed on account of the Senior Secured Notes, Notes and on account of the Additional Senior Secured Debt and on account of the Secured Swap or Tranche 2 Sub-Facility Obligations are secured by Liens upon the same property, the priority of payments provisions described in Section 4.05(a) above will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to such debt obligations.

Non-Cash Distributions. If, in any bankruptcy, insolvency or liquidation case, any equity securities, debt securities or other non-cash consideration from the reorganized debtor is distributed pursuant to a plan of reorganization or similar dispositive restructuring plan, the amount of such non-cash consideration to be distributed to each of the Series A-1 Noteholders, the Additional Senior Secured Debt Holders and the Swap Creditors Series A-2 Creditors, respectively, shall be determined in accordance with the priority of payment provisions set forth in Section 4.05(a) above and utilizing the valuation methodology set forth below. In addition, if, in any bankruptcy, insolvency or liquidation case, 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 plan, on account of the Senior Secured Series A-1 Notes, on account of the Additional Senior Secured Debt and on account of the Secured Swap Obligations Series A-2 Debt, then, to the extent the debt obligations distributed on account of the Senior Secured Series A-1 Notes, on account of the Additional Senior Secured Debt and on account of the Secured Swap Obligations Series A-2 Debt are secured by Liens upon the same property, the priority of payments provisions described in Section 4.05(a) above will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to such debt obligations.