Common use of Reorganization Securities; Voting Clause in Contracts

Reorganization Securities; Voting. If, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor that are Shared Collateral are distributed, pursuant to a plan of reorganization, plan of liquidation, agreement for composition, or other type of plan of arrangement or restructuring, on account of both the Senior Obligations and the Second Priority Debt Obligations, then, to the extent the debt obligations distributed on account of the Senior Obligations and on account of the Second Priority Debt Obligations are secured by Liens upon the same assets or 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.

Appears in 1 contract

Samples: Transaction Support Agreement (Carvana Co.)

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Reorganization Securities; Voting. If, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor that are Shared Collateral are distributed, pursuant to a plan of reorganization, plan of liquidation, agreement for composition, or other type of plan of arrangement proposed, confirmed, or restructuringadopted in an Insolvency Proceeding, on account of both the Senior First Priority Obligations and the Second Priority Debt Obligations, then, to the extent the debt obligations distributed on account of the Senior First Priority Obligations and on account of the Second Priority Debt Obligations are secured by Liens upon the same assets or 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.

Appears in 1 contract

Samples: Credit Agreement (Rivian Automotive, Inc. / DE)

Reorganization Securities; Voting. (a) If, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor that are Shared Collateral are distributed, pursuant to a plan of reorganization, plan of liquidation, agreement for composition, or other type of plan of arrangement or restructuring, on account of both the Senior Obligations and the Second Priority Debt Obligations, then, to the extent the debt obligations distributed on account of the Senior Obligations and on account of the Second Priority Debt Obligations are secured by Liens upon the same assets or 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.

Appears in 1 contract

Samples: Transaction Support Agreement (Carvana Co.)

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Reorganization Securities; Voting. If, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor that are Shared Collateral are distributed, pursuant to a plan of reorganizationreorganization or similar dispositive restructuring plan proposed, plan of liquidation, agreement for compositionconfirmed, or other type of plan of arrangement adopted in an Insolvency or restructuringLiquidation Proceeding, on account of both the Senior Obligations Creditor Claims and the Second Priority Debt ObligationsClaims, then, to the extent the debt obligations distributed on account of the Senior Obligations Priority Claims and on account of the Second Priority Debt Obligations Claims are secured by Liens upon the same assets or 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.

Appears in 1 contract

Samples: Indenture (Caesars Entertainment, Inc.)

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