Restructuring Plan. The first sentence of paragraph number 6 of Exhibit A - Restructuring Plan, to the Securities Purchase Agreement is hereby amended to change the reference in such sentence from "voting stock" to "non-voting stock."
Restructuring Plan. WCI shall be afforded an opportunity to review and to have access to the Company's third party consultants involved in the Company's restructuring plans. As promptly as practicable, WCI shall (i) suggest any modifications to the Company's restructuring plans they feel are advisable and (ii) in good faith notify the Company if the Purchasers do not reasonably believe that the savings reflected in such restructuring plan are reasonably achievable. The Company agrees to consider in good faith any suggestions presented by WCI with respect to the restructuring plan.
Restructuring Plan. The Borrowers shall have developed, completed and commenced to implement a written plan (the "Restructuring Plan"), the content of which shall be satisfactory to and approved and authorized by both the Board of Directors of the Company and the Lender (which shall not be unreasonably withheld or delayed). The Restructuring Plan shall include, without limitation, matters involving (a) the consent and renegotiating of the existing loan with the Borrowers' Senior Lender, (b) the hiring and retaining of outside consultants, (c) procedures for dealing with significant vendors and payment of any significant outstanding payables, (d) procedures for dealing with the collection of accounts receivable, (e) the hiring of any new executive level employees and (f) a detailed annual operating and capital budget approved by Lender (which approval shall not be unreasonably withheld).
Restructuring Plan. The Borrowers shall update and amend the Restructuring Plan including the detailed budgets contained therein, once every six months, provided that the content thereof shall be satisfactory to and approved and authorized by both the Board of Directors of the Company and the Lender (which shall not be unreasonably withheld). Upon such approval and authorization the Borrowers shall diligently implement the Restructuring Plan.
Restructuring Plan. Fail to materially adhere to the Restructuring Plan, as amended from time to time, pursuant to Section 5.22 hereof.
Restructuring Plan. Within six (6) months from the date of this Agreement, the Company will draw up and submit to the Minister a restructuring plan that has been prepared by the Company in consultation with the Minister including, as a minimum:
(a) an analysis of the Group’s business model, assessing its viability over a time-frame agreed with the Minister;
(b) details of how the Company intends to minimise and repay the state aid that has been provided, while bearing the costs of restructuring the Group; and
(c) an analysis of the compensatory measures taken or to be taken to minimise any distortions of competition caused by the Subscription.
Restructuring Plan. The Agent and the Lenders hereby acknowledge that the Borrowers have delivered to the Agent and the Lenders a preliminary Restructuring Plan. The Borrowers hereby agree to (A) make such revisions to the preliminary Restructuring Plan as the Agent and the Lenders may reasonably require, (B) provide to the Agent and the Lenders a final Restructuring Plan that has been approved by the holders of the Parent Notes and the Iron Age Notes, which final Restructuring Plan shall be in form and substance satisfactory to the Agent and the Lenders in their reasonable discretion and (C) consummate the final Restructuring Plan prior to the expiration of the Waiver Period, and reaffirm their obligations under paragraph 4(d) of the June Letter Agreement to (A) participate in conference calls with the Agent and the Lenders at least weekly to report on the status of the Restructuring Plan and (B) fully cooperate with the Agent and the Lenders in connection with the Restructuring Plan.
Restructuring Plan. (a) On or prior to August 14, 2009 (or such later date agreed to by the Administrative Agent and the Required Lenders), the Company shall deliver to the Administrative Agent and the Lenders a written draft restructuring plan and related financial projections, models and analysis, all reviewed by Xxxxxxx & Marsal North America, LLC and in form reasonably satisfactory to the Administrative Agent.
(b) On or prior to August 21, 2009 (or such later date agreed to by the Administrative Agent and the Required Lenders), the Company shall deliver to the Administrative Agent and the Lenders (i) a written final restructuring plan and related financial projections, models and analysis (the “Final Restructuring Plan”), and (ii) written terms and conditions setting forth all of the necessary actions requested by the Company to be taken to achieve the Final Restructuring Plan, in each case for clauses (i) and (ii), reviewed by Xxxxxxx & Marsal North America, LLC and in form reasonably satisfactory to the Administrative Agent.
Restructuring Plan. The Company shall use commercially reasonable efforts to consummate the Restructuring on substantially the same terms set forth in the Term Sheet.
Restructuring Plan. The Borrower shall have provided to the Agent a non-binding preliminary term sheet for a stand-alone restructuring plan for the Borrower, and a preliminary analysis of how the Borrower would propose to implement such plan. Such term sheet shall be substantially identical to the term sheet for a stand-alone restructuring provided to the Consenting Noteholders.
