Common use of Plans of Reorganization Clause in Contracts

Plans of Reorganization. Neither the Subordinated Holder Representative nor any Subordinated Holder shall support or vote in favor of any plan of reorganization (and each shall be deemed to have voted to reject any plan of reorganization) unless such plan (a) pays off, in cash in full, all Senior Indebtedness or (b) is accepted by the class of holders of Senior Indebtedness voting thereon and is supported by the Senior Agent.

Appears in 4 contracts

Samples: Intercreditor and Subordination Agreement (Teton Energy Corp), Intercreditor and Subordination Agreement (Teton Energy Corp), Intercreditor and Subordination Agreement (Teton Energy Corp)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.