Reorganization Plan Clause Samples

Reorganization Plan. Recipient may terminate this Agreement if the Reorganization Plan is amended, without MTI’s prior written consent, in a manner that is, or would reasonably be expected to be, materially adverse to the interests of Recipient or its Affiliates (including Provider), individually or in the aggregate. Unless otherwise agreed in writing by the Recipient and Provider, this Agreement will terminate automatically if the order approving the Reorganization Plan is revoked or cancelled or if an order of abolition (haishi) of the Reorganization Proceedings is issued.

Reorganization Plan. Any Credit Party shall file, or consent to, support or encourage in any manner a filing by any other Person, with the Bankruptcy Court a reorganization plan in respect of any member of the Transit Group that does not provide for payment in full in cash of the Obligations on the effective date thereof without the prior written consent of the Majority Lenders and that is not otherwise reasonably satisfactory to the Administrative Agent; or

Reorganization Plan. The Borrowers will not (and will not apply to the Bankruptcy Court for authority to), file any Reorganization Plan that does not provide for the repayment in full in cash on the effective date thereof of all outstanding Obligations.

Reorganization Plan. The Loan Parties will not (and will not apply to the Bankruptcy Court or the Canadian Court for authority to), file any Reorganization Plan that does not provide for the repayment in full in cash on the effective date thereof of all outstanding Secured Obligations.

Reorganization Plan. The Effective Date shall have occurred.

Reorganization Plan. An order shall be entered by the Bankruptcy Court confirming an amended plan of reorganization which is not the Amended Reorganization Plan or liquidation in any of the Cases (or any Loan Party shall propose a plan of reorganization which is not the Amended Reorganization Plan or liquidation in any of the Cases); or

Reorganization Plan. The Board of Directors of the Company has unanimously determined to propose a plan of reorganization (the "Reorganization Plan") which will provide for, among other things, (i) the Stock Acquisition and (ii) the Cash Distribution (collectively, the "Reorganization Transactions"). As of the Original Agreement Date, the Board of Directors has further unanimously determined to recommend acceptance of the Reorganization Plan by the Shareholders of the Company.

Reorganization Plan. (a) The Reorganization Plan and Disclosure Statement must have been filed with the Bankruptcy Court no later than October 30, 2004 and at the time of filing must be in form and substance satisfactory to each Purchaser at its sole and absolute option. No amendments, modifications or supplements must have been made to the Reorganization Plan that adversely affects the rights or obligations of any Purchaser after filing with the Bankruptcy Court without obtaining the prior written approval of such Purchaser, which approval will be given at the sole and absolute option of such Purchaser. (b) The Reorganization Plan must be effected under chapter 11 of the Bankruptcy Code. The Company at all times prior to the effective date of the Reorganization Plan must remain a debtor-in-possession, and there must not have been appointed any trustee or examiner with respect to the Company's business, operations, or management. (c) The confirmation order (the "Confirmation Order") relating to the Reorganization Plan, in a form providing for the effectuation of all the Transactions in accordance with the terms and provisions of this Agreement, must have been entered by the Bankruptcy Court in form and substance satisfactory to the Majority Purchasers; at least ten days must have passed since the entry of such Order; such Order must not be subject to any stay, appeal, or motion for rehearing, reargument, reconsideration, or revocation; and all conditions to the effectiveness of the Reorganization Plan (or the occurrence of the Effective Date as defined in the Reorganization Plan) must have been satisfied or duly waived in accordance with the Reorganization Plan.

Reorganization Plan. Borrower files a plan of reorganization in the Case or a motion for the sale of a material portion of the assets pursuant to Section 363 of the Bankruptcy Code which does not provide for indefeasible payment in full of the Obligations in cash on the effective date thereof or to which Lender does not otherwise consent;