Proposal for the Bank Facility Creditors Subclass Sample Clauses

Proposal for the Bank Facility Creditors Subclass. The maturity of the credits subject to this Section VIII.B shall be extended for a maximum period of 90 days from the date on which the Deliberative Meeting is held, unless prior to such maximum period it becomes certain that the Conditions (as defined below) will not be verified, in which case the term of the extension shall expire on the day on which such Conditions have failed (the “Bank Facility Extension”), unless the Creditors Committee decides to maintain the Bank Facility Extension as provided in Section XVII of this Agreement. As long as the Conditions are not complied with, the Bank Facility will remain in force according to its original terms (including interest accrued after the reorganization request), the events of default and the rights and remedies existing thereunder for existing causes of default will not be waived; and the current collateral and guarantees of the Bank Facility (hereinafter the “Bank Facility Security”) shall remain fully in force. The foregoing is notwithstanding the fact that, while the Bank Facility Extension is in force, the Bank Facility Creditor undertakes not to initiate any enforcement proceedings, to the extent that the Conditions are pending. Subject to compliance with the Conditions (as defined below), the terms set forth below shall apply to Bank Facility.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Proposal for the Bank Facility Creditors Subclass. The following alternative proposals A and B are made to the Secured Creditor Bank Facility Creditor, based on the terms established in Article 62 of Law No. 20,720, in such a way that the creditors that are part of this class must choose to be governed by one of them, within ten days following the date of the Deliberative Meeting or they may waive this term verbally in advance and choose some of them in this Deliberative Meeting. It is hereby noted that, in view of the fact that an alternative proposal is made to this subclass of creditors, in accordance with the provisions of Article 64 of Law No. 20,720, this proposal contains more favorable conditions for the Bank Facility Creditor. The terms of the alternative proposals for this subclass of Secured Creditors are detailed below:
Sample 1

Related to Proposal for the Bank Facility Creditors Subclass

  • Amendment This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

  • SAVINGS CLAUSE If this Agreement or any portion thereof shall be invalidated on any ground by any court of competent jurisdiction, then the Corporation shall nevertheless indemnify the Indemnitee as to Expenses, judgments, fines, penalties and amounts paid in settlement with respect to any Proceeding to the full extent permitted by any applicable portion of this Agreement that shall not have been invalidated and to the fullest extent permitted by applicable law.

  • Definitions As used in this Agreement, the following terms shall have the following meanings:

  • Effective Date The obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of Credit hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02):

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • Termination for Convenience TIPS may, by written notice to Vendor, terminate this Agreement for convenience, in whole or in part, at any time by giving thirty (30) days’ written notice to Vendor of such termination, and specifying the effective date thereof.

  • Representations and Warranties Borrower represents and warrants as follows:

  • Dimensions Education Bachelor’s Degree in Computer Science, Information Systems, or a related field. Or equivalent work experience. Experience: A minimum of 3 years of IT work experience in production and operations support.

  • Term of Agreement This Agreement shall continue in full force and effect until the tenth (10th) anniversary of Bank Closing; provided, that the provisions of Section 6.3 and 6.4 shall survive the expiration of the term of this Agreement; and provided further, that the receivership of the Failed Bank may be terminated prior to the expiration of the term of this Agreement, and in such event, the guaranty of the Corporation, as provided in and in accordance with the provisions of Section 12.7 shall be in effect for the remainder of the term of this Agreement. Expiration of the term of this Agreement shall not affect any claim or liability of any party with respect to any (i) amount which is owing at the time of such expiration, regardless of when such amount becomes payable, and (ii) breach of this Agreement occurring prior to such expiration, regardless of when such breach is discovered.

  • Miscellaneous Provisions Section 11.01

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!