Restructuring Consultant. The Loan Parties shall engage a restructuring consultant acceptable to the Agents, and the Loan Parties shall have obtained any necessary approvals of the Bankruptcy Court in the Proceedings therefor on or before August 31, 2000. In the event that such consultant resigns or is terminated, the Loan Parties shall engage a replacement consultant acceptable to the Agents within thirty (30) days after the date of such termination or resignation. The identity of each such consultant and the terms of employment and responsibilities of each such consultant shall be reasonably acceptable to the Administrative Agent.
Restructuring Consultant. The Company shall cooperate fully with the CRO in its review of the Company’s business lines and financial operations with the goal of having the CRO present its findings and recommendations to the Company’s Board of Directors within 60 days of engagement. The CRO shall be given full access to the Company’s books and records and management during regular business hours.
Restructuring Consultant. Each Borrower:
Restructuring Consultant. A breach of Section 5:5-5 shall constitute an Event of Default as follows:
Restructuring Consultant. Until all Obligations have been indefeasibly paid in full in cash, the Debtors shall continue to retain FTI Consulting, or such other individual or entity as is acceptable to the Lender in the Lender's sole discretion, as restructuring consultant to the Debtors."
Restructuring Consultant. Article VI of the Credit Agreement is hereby amended to add the following:
Restructuring Consultant. Promptly after the Amendment No. 4 Effective Date, Borrower will engage and continuously employ a nationally recognized consultant with at least ten (10) years’ experience restructuring similar restaurant companies or concepts, reasonably acceptable to Administrative Agent. Borrower may replace the consultant from time-to-time at Borrower’s discretion, subject to the first sentence of this Section. Borrower’s consultant will review and validate Borrower’s business plan to reduce costs and increase margins and net cash flow. Consultant will provide Borrower and Administrative Agent written calendar quarterly reports on Borrower’s restructuring efforts and benchmark monitoring against Borrower’s business plan, budget, forecasts, and proforma cash flow statement.
Restructuring Consultant. The Borrower hereby agrees that, notwithstanding that no Default or Event of Default may have occurred and be continuing, the Lender shall have the right, in its sole, absolute and unconditional discretion, at any time during the term of the Credit Agreement to require that the Borrower engage at the Borrower's expense a restructuring consultant acceptable to the Lender.
Restructuring Consultant. On or before July 31, 2000, Borrower shall have retained the services of a Restructuring Consultant, reasonably acceptable to the Borrower and the Lender, to serve as the Restructuring Consultant of the Borrower and the Subsidiaries. The Restructuring Consultant, (who in addition to the Borrower shall communicate directly to the Lender), shall be retained to provide Borrower with ongoing business advice and consultation regarding Borrower's current financial and operational issues and the development of strategies that, in addition to the consideration of the Borrower's interests and the interests of its shareholders, will reflect consideration of the Lender's and other creditors' interests, and will address, without limitation, the areas listed on the attached Exhibit B.
Restructuring Consultant. The Borrower shall engage and retain, until such time as the Required Lenders (as defined in the Intercreditor Agreement) so require, a restructuring consulting firm acceptable to the Required Lenders (as so defined) and the Borrower shall cause such restructuring consulting firm to deliver such financial reports, statements and analysis to any Lender as such Lender may reasonably request from time to time. The Administrative Agent and each Lender hereby acknowledges that the Borrower has engaged and retained PricewaterhouseCoopers as its restructuring consultant and agrees that PricewaterhouseCoopers is acceptable to the Administrative Agent and each Lender.
