Common use of Proposal Assumptions Clause in Contracts

Proposal Assumptions. Any proposal should make the following assumptions: (i) All unsecured debt is provided consideration in the form of cash, equity and/or debt (which may include reinstatement to the extent applicable) in an amount to satisfy their claims of principal and accrued interest (to the extent allowed by the Bankruptcy Court) in full; (ii) Pro forma for Plan distributions, the Company retains enough cash at emergence to ensure that it has a minimum of approximately $500 million in unrestricted and available liquidity; (iii) The Company’s restructured property-level debt remains in place based on the restructured terms and maturities contemplated by the consummated plans of reorganization. Any property-level debtors that are pending restructuring are resolved based on terms that are substantially similar in all material respects to the treatment provided in the confirmed plans. All non-debtor property-level debt remains in place on its current terms; and (iv) Unless otherwise specified in your proposal, Plan Sponsor Investments that are less than $1.5 billion may be directed by the Company into consortia with other bidders, at the Company’s option.