Requisite Consenting Creditors Clause Samples
Requisite Consenting Creditors. Unless expressly provided otherwise, and subject to Section 5 of this Agreement, the term “Requisite Consenting Creditors” shall mean, as of the RSA Effective Date:
Requisite Consenting Creditors. Unless expressly provided otherwise, and subject to Section 5 of this Agreement, the term “Requisite Consenting Creditors” shall mean, as of the RSA Effective Date:
(a) with respect to all terms and provisions of this Agreement and/or the Definitive Documentation other than those described in Section 4(b) of this Agreement, such terms and provisions, including any amendment, supplement, or modification thereof, shall be in form and substance acceptable to (i) the Consenting Incremental Term Loan Lenders holding at least two-thirds in amount of the outstanding Incremental Term Loan Claims and Incremental Term Loan Guaranty Claims held by all Consenting Incremental Term Loan Lenders as of such date; and (ii) the Consenting OpCo Noteholders holding at least a majority of the outstanding OpCo Note Claims held by all Consenting OpCo Noteholders as of such date;
(b) with respect to provisions of this Agreement and/or the Definitive Documentation related to (i) the debt capital structure of the post-Plan Effective Date reorganized Debtors (the “Reorganized Debtors”) upon the Plan Effective Date, excluding, for the avoidance of doubt, (A) any non-borrowed money debt incurred by the Debtors in the ordinary course of business or allocation of equity issued under the Plan and (B) the DIP ABL Credit Facility and the Exit Facility (each as defined in the Plan Term Sheet), other than as provided in Section 4(b)(ii) hereof; (ii) the commitment amount, the interest rate, the maturity date, and all financial covenants relating to the DIP ABL Credit Facility and the Exit Facility; (iii) any rights offering or other arrangement to contribute additional debt or equity capital on the Plan Effective Date (a “Proposed Contribution”) to the Reorganized Debtors; (iv) the corporate governance and organizational documents of the Reorganized Debtors; (v) the percentage of equity of the Reorganized Debtors distributable pursuant to any warrants distributed under the Plan, including the New Warrants (as defined in the Plan Term Sheet), the equity value at which such warrants are struck, and the expiration date of such warrants; (vi) the Management Incentive Plan (as defined in the Plan Term Sheet); (vii) the amount of equity distributed to the HoldCo Noteholders under the Plan on account of their HoldCo Note Claims; or (viii) such other matters specified in the attached Plan Term Sheet as being subject to a Requisite Supermajority Consenting Creditors consent or review, as applicable (...