Plan and Confirmation Order. The Plan, in form and substance satisfactory to each Purchaser, shall have been confirmed by the Bankruptcy Court by order in form and substance satisfactory to each Purchaser (the “Confirmation Order”), which Confirmation Order shall be in full force and effect (without waiver of the 14-day period set forth in Bankruptcy Rule 3020(e)) as of the Effective Date and shall not be subject to a stay of effectiveness. Notwithstanding anything to the contrary in the Plan Term Sheet, the Plan shall have not reinstated any Specified Debt without giving each holder of Specified Debt the option to receive cash in an amount equal to par plus unpaid pre-petition and post-petition interest accrued at the stated non-default rate (or contract rate in the case of Class M).
Appears in 5 contracts
Samples: Non Control Agreement (General Growth Properties Inc), Warrant and Registration Rights Agreement (General Growth Properties Inc), Stock Purchase Agreement
