Restructuring Advisor. The Borrowers shall maintain the retention of the Restructuring Advisor on terms and in a capacity vesting it with authority over the operations of the Operating Company and the Borrowers that are acceptable to the Administrative Agent.
Restructuring Advisor. (i) The Borrower acknowledges that Xxxx Xxxxxx Associates, Inc. (the “Restructuring Advisor”) shall be retained by counsel to the Collateral Agent to advise the Purchasers with respect to the matters contemplated by that certain letter agreement, dated as of June 11, 2009, among the Restructuring Advisor, the Borrower and the Collateral Agent (the “Engagement Letter”).
(ii) All of the fees and expenses of the Restructuring Advisor required to be paid under the Engagement Letter shall be paid by the Borrower pursuant to the terms of the Engagement Letter. All other out-of-pocket fees, costs and expenses (including attorneys’ fees and expenses) incurred by the Collateral Agent or any Purchaser in connection with the enforcement of the Financing Documents or otherwise reimbursable pursuant to the Financing Documents (including, without limitation, in connection with the negotiation, preparation, execution, delivery, and monitoring of compliance with this Agreement) shall be promptly paid upon demand and in any event within five (5) Business Days. The foregoing shall be without prejudice to, and shall not otherwise impair in any manner, any liability that the Borrower or Credit Parties may have to the Collateral Agent or the Purchasers for such fees, costs, and expenses or otherwise.
Restructuring Advisor. The failure of the Loan Parties to continue to engage a restructuring advisor reasonably acceptable to Agent (it being understood and agreed that Financial Advisor is acceptable to Agent) to provide operational advice, perform cash flow modeling and otherwise provide advisory services pursuant to such terms of engagement (including such other duties and responsibilities) as are reasonably acceptable to Agent.
Restructuring Advisor. The Borrower acknowledges that, if requested by the Collateral Agent, a restructuring advisor (“Restructuring Advisor”) acceptable to the Required Holders shall be retained by the Collateral Agent to advise the Purchasers with respect to the near-term and long-term business prospects of the Borrower and its various Subsidiaries, the proposed restructuring of the obligations of BST and various Subsidiaries of the Borrower under the BST Credit Agreement and the obligations of the Borrower under the Note Purchase Agreement and such other matters as the Collateral Agent shall determine to be relevant or useful to the protection of the rights and interests of the Purchasers under the Note Purchase Agreement. All of the fees and expenses of such Restructuring Advisor (or any replacement selected by the Collateral Agent reasonably acceptable to the Required Holders) and all other out-of-pocket fees, costs and expenses (including attorneys’ fees and expenses) incurred by the Collateral Agent or any Purchaser in connection with the enforcement of the Financing Documents or otherwise reimbursable pursuant to the Financing Documents (including, without limitation, in connection with the negotiation, preparation, execution, delivery, and monitoring of compliance with this Agreement) shall be promptly paid upon demand and in any event within five (5) Business Days. The foregoing shall be without prejudice to, and shall not otherwise impair in any manner, any liability that the Borrower or Credit Parties may have to the Collateral Agent or the Purchasers for such fees, costs, and expenses or otherwise.
Restructuring Advisor. At the Loan Parties’ expense, Xxxxxxx XxXxxxxxx LLP, counsel to the Administrative Agent, shall engage a financial advisor (a “Restructuring Advisor”) to, among other things, make visits to, and discuss financial and operational matters with, the Borrowers and the other Loan Parties upon reasonable advance notice and at reasonable times during normal business hours and to advise the Administrative Agent and the Lenders as to the business, operations, financial condition and restructuring alternatives of the Borrowers and the other Loan Parties. The Borrowers and the other Loan Parties covenant and agree that (i) such Restructuring Advisor shall not be limited in the frequency of visits to the facilities of the Borrowers and the other Loan Parties; and (ii) the Borrowers and the other Loan Parties shall cooperate with such Restructuring Advisor and provide such Restructuring Advisor with all information reasonably requested by such Restructuring Advisor in connection with its engagement within a reasonable period of time after request. All reasonable fees and expenses of the Restructuring Advisor shall be for the account of the Borrowers and shall constitute Obligations under the Credit Agreement. Such fees and expenses shall be payable by the Loan Parties on a monthly basis by a date certain each month with the failure to pay within 2 Business Days of the due date constituting a breach of this Forbearance Agreement and the Credit Agreement and an immediate Event of Default under the Credit Agreement. The failure of the Borrowers and the other Loan Parties to cooperate with the Restructuring Advisor and to provide any information or documents reasonably requested by such Restructuring Advisor as provided above shall constitute a breach of this Forbearance Agreement and the Credit Agreement and be an immediate Event of Default under the Credit Agreement pursuant to Section 8.01(b) thereof. The Restructuring Advisor will provide good faith estimates of its fees and expenses on a periodic basis from time to time, and will be instructed to perform its work in an efficient manner, avoiding duplication of effort and utilizing the information and work product provided to it by the Loan Parties and their advisors to the extent practical.
Restructuring Advisor. 99 9.35 Reserved ...................................................................... 99 9.36
Restructuring Advisor. Such Loan Party shall maintain as its restructuring advisor in connection with the Case the firm of Xxxxxxx & Marsal or another restructuring advisor reasonably acceptable to the Agent.
Restructuring Advisor. Retain at all times Lazard or another restructuring advisor reasonably acceptable to, and, in each case on terms reasonably acceptable to, the Initial Lenders.”
(c) Section 5.03(b) is amended in its entirety and replaced by the following:
Restructuring Advisor. The Loan Parties shall be in compliance with Section 6.19.
Restructuring Advisor. Borrowers shall have retained, on terms reasonably acceptable to Agents, a restructuring advisor reasonably satisfactory to Agents. Such restructuring advisor shall have been retained by Company on terms providing for such restructuring advisor to report directly to the Governing Body of Company and to advise and assist Company in developing, evaluating and implementing exit alternatives from the Chapter 11 Cases.
