Common use of Reorganization Securities and Other Plan-Related Issues Clause in Contracts

Reorganization Securities and Other Plan-Related Issues. (a) If, in any Insolvency Proceeding, debt obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor are distributed pursuant to a plan of reorganization or similar dispositive restructuring plan, on account of claims of the Senior Priority Creditors in respect of the Collateral and/or on account of claims of the Junior Priority Creditors in respect of the Collateral, then, to the extent the debt obligations distributed on account of such claims of the Senior Priority Creditors and/or on account of such claims of the Junior Priority Creditors are secured by Liens upon the same property, the provisions of this Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations.

Reorganization Securities and Other Plan-Related Issues. (a) If, in any Insolvency Proceeding, debt obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor are distributed pursuant to a plan of reorganization or similar dispositive restructuring plan, on account of claims of the Senior Priority Creditors in respect of the Collateral Secured Parties and/or on account of claims of the Junior Priority Creditors in respect of the CollateralSecured Parties, then, to the extent the debt obligations distributed on account of such claims of the Senior Priority Creditors Secured Parties and/or on account of such claims of the Junior Priority Creditors Secured Parties are secured by Liens upon the same property, the provisions of this Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations.