Restructuring Milestones. Bxxxxxxx agrees to complete, or cause to be completed, all Restructuring Milestones not later than the dates set forth in Schedule 6.24 (or such later date to which the Supermajority Lenders agree in their sole discretion).
Restructuring Milestones. On or before July 31August 30, 2024, the Loan Parties shall deliver to Agent and the Lenders, a duly executed definitive agreement engaging and retaining a NASDAQ consultant reasonably acceptable to the Required Lenders.or cause to be delivered to the Lenders a confidential information memorandum in connection with a marketing process for the sale of some or substantially all of the Loan Parties’ assets and/or equity interests.
Restructuring Milestones. Borrower shall have failed to meet or achieve any of the following milestones on or before the specified dates: · On or before August 1, 2011, Borrower shall have closed on, and all funding for the New Equity in accordance with the terms of Section 10 of this Agreement (except as the same are expressly modified by this Amendment) shall have occurred or shall be scheduled to be closed on and occur within a reasonable time thereafter in accordance with the terms and conditions of the LOI; and Borrower shall have executed and delivered all amendments to the Loan Documents as contemplated by Section 10 of this Agreement, which amendments shall also include such terms, conditions and covenants as Lender may reasonably request, including without limitation, provisions requiring that all officers, directors, managers, and other key employees comprising the management of the Borrower be reasonably acceptable to the Lender, any such provisions however subject to the management and other applicable provisions of Borrower’s Member Control Agreement and providing for such other limitations on changes thereto or resulting from changes in control of the Borrower; and · On or before August 1, 2011, Borrower shall have completed, or shall have caused its subsidiaries and Affiliates to complete, all project milestones necessary to begin construction of a natural gas pipeline connecting Borrower’s ethanol production facility to the natural gas pipeline facilities of Northern Border Pipeline Company in Cottonwood County, Minnesota, which milestones have been previously delivered to the Lender.
Restructuring Milestones. (i) This Agreement shall be executed no later than December 10, 2020 (the “TSA Effective Date”);
(ii) Subject to Section 11.23, execution of this Agreement shall be publicly announced and filed with the U.S. Securities and Exchange Commission no later than the date that is four (4) business days after the TSA Effective Date (no later than December 16, 2020);
Restructuring Milestones. (a) On or before December 9, 2011, each of the Loan Parties shall have entered into (i) a restructuring support agreement (the “Support Agreement”), in form and substance acceptable to the Lenders, with (a) holders of at least two-thirds of the principal amount of the Senior Notes and (b) holders representing at least (1) a majority of the holders of the First Lien Loans and (2) at least two-thirds of the principal amount of the First Lien Loans, and (ii) an equity backstop commitment agreement (the “Backstop Agreement”), in form and substance acceptable to the Lenders, with certain members of the ad hoc committee of holders of Senior Notes.
(b) On or before December 15, 2011, the Loan Parties shall have received a fully underwritten commitment agreement for a debtor-in-possession financing, in form and substance, including the amount thereof, acceptable to the Lenders.
(c) On or before December 15, 2011, the Loan Parties shall have received a fully underwritten commitment agreement for a revolving exit financing facility, in form and substance, including the amount thereof, acceptable to the Lenders.
(d) On or before December 20, 2011, the Loan Parties shall have commenced the solicitation for a pre-packaged chapter 11 plan of reorganization (a “Pre-packaged Plan”) and/or an out of court restructuring of the obligations under the First Lien Credit Agreement, the Facility and the Senior Notes (an “Out of Court Restructuring”), in each case, in form and substance acceptable to the Lenders.
(e) On or before January 27, 2012, the Loan Parties shall have either (i) consummated such Out of Court Restructuring or (ii) commenced voluntary cases under Chapter 11 of Title 11 of the United States Code to implement such Pre-packaged Plan.
Restructuring Milestones. The Credit Parties agree to deliver each of the following items, inclusive of any teasers, decks or other marketing materials, and XXXx sent or received by any Credit Party (the “Deliverables”), together with such other evidence as may be reasonably requested by the Agent to evidence compliance with the below requirements, on or before the deadlines set forth below (the “Applicable Deadlines”). Deliverable Applicable Deadline Reach out to select group of known potential buyers (no brokers) for interest in purchasing CRA March 25, 2024 Provide Executive summary to interested parties April 15, 2024 Determine interest level and request LOI if interested May 15, 2024 Sale of the CRA business August 31, 2024 Consummation of the Qualified Subsequent Financing February 28, 2025 If a Deliverable is received by the Agent on or before the Applicable Deadline and is both acceptable to Agent (in form and substance) and consistent with the occurrence of a Restructuring Event, the Credit Parties shall have achieved a “Restructuring Milestone.” If a Deliverable is not timely received, is unacceptable to Agent or is not consistent with the occurrence of a Restructuring Event, the related “Restructuring Milestone” shall not have been achieved.
Restructuring Milestones. EVENT DEADLINE
Restructuring Milestones. Borrower shall have failed to meet or achieve any of the following milestones on or before the specified dates: · On or before April 22, 2011, the Borrower shall have submitted an updated plan addressing all Lender concerns and performance improvement, and a plan to include updated financial models for various capitalization options of the Borrower; · On or before May 20, 2011, the Borrower shall have delivered an executed Letter of Intent (LOI), acceptable to the Lender, in its sole discretion, and which addresses the completion of the conversion of the plant to natural gas power and such other matters as Lender may reasonably request; · On or before June 14, 2011, Borrower shall have filed its completed 10-Q with the Securities and Exchange Commission; · On or before July 1, 2011, Borrower shall have closed on, and all funding for the New Equity in accordance with the terms of Section 10 of this Agreement (except as the same are expressly modified by this Amendment) shall have occurred or shall be scheduled to be closed on and occur within a reasonable time thereafter in accordance with the terms and conditions of the LOI; and Borrower shall have executed and delivered all amendments to the Loan Documents as contemplated by Section 10 of this Agreement, which amendments shall also include such terms, conditions and covenants as Lender may reasonably request, including without limitation, provisions requiring that all officers, directors, managers, and other key employees comprising the management of the Borrower be reasonably acceptable to the Lender, any such provisions however subject to the management and other applicable provisions of Borrower’s Member Control Agreement and providing for such other limitations on changes thereto or resulting from changes in control of the Borrower; and · On or before July 1, 2011, Borrower shall have completed, or shall have caused its subsidiaries and Affiliates to complete, all project milestones necessary to begin construction of a natural gas pipeline connecting Borrower’s ethanol production facility to the natural gas pipeline facilities of Northern Border Pipeline Company in Cottonwood County, Minnesota, which milestones have been previously delivered to the Lender.
c. Section 7 of the Forbearance Agreement is deleted in its entirety and subject to Section 3 of the Forbearance Agreement, as modified above, the Term Revolving Loan shall be governed by the Amended and Restated Fourth Supplement of even date herew...
Restructuring Milestones. ● No later than three (3) days after the Petition Date, subject to Bankruptcy Court availability, the Bankruptcy Court shall have entered the Interim DIP Order, the Scheduling Order and the Bid Procedures Order; ● No later than thirty (30) days after the Petition Date, the Bankruptcy Court shall have entered the Final DIP Order; ● No later than thirty-five (35) days after the Petition Date, the deadline for submitting indications of interest; ● No later than fifty (50) days after the Petition Date, the Bankruptcy Court shall have entered an order approving the disclosure statement; ● If the Debtors elect to pursue a Credit Bid Sale, no later than seventy (70) days after the Petition Date, the Bankruptcy Court shall have entered the Credit Bid Sale Order; ● If the Debtors elect to pursue a Third-Party Sale, (a) the Bid Deadline shall be no later than no later than sixty-five (65) days after the Petition Date; and (b) no later than ninety (90) days after the Petition Date, the Bankruptcy Court shall have entered the Third-Party Sale Order; ● No later than ninety-five (95) days after the Petition Date, the order confirming the Plan shall have been entered; and ● No later than one hundred and fifteen (115) days after the Petition Date, the Plan Effective Date shall have occurred. Loan and Security Agreement – Vertex Refining Alabama LLC
Restructuring Milestones. The Parties agree to use commercially reasonable efforts to implement the Restructuring pursuant to the following milestones (collectively, the “Milestones”).
