Common use of Setoffs and Recoupment Clause in Contracts

Setoffs and Recoupment. Except as expressly provided in this Plan, each Reorganized Debtor may, pursuant to section 553 of the Bankruptcy Code, set off and/or recoup against any Plan Distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder), any and all claims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and Holder of Allowed Claim or (2) otherwise adjudicated by the Court or another court of competent jurisdiction; provided that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holder. In no event shall any Holder of Claims against, or Interests in, the Debtors be entitled to recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors or the Reorganized Debtors, as applicable, unless such Holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan on or before the Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder asserts, has, or intends to preserve any right of recoupment.

Appears in 4 contracts

Samples: Voting and Support Agreement (Bonanza Creek Energy, Inc.), Agreement and Plan of Merger (HighPoint Resources Corp), Registration Rights Agreement (Bonanza Creek Energy, Inc.)

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Setoffs and Recoupment. Except as expressly provided in this Plan, each Reorganized Debtor may, pursuant to section 553 of the Bankruptcy Code, set off and/or recoup against any Plan Distributions distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder)Claim, any and all claims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and Holder holder of Allowed Claim or (2) otherwise adjudicated by the Bankruptcy Court or another court of competent jurisdiction; provided that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holderholder. In no event shall any Holder holder of Claims against, or Interests in, the Debtors be entitled to recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors or the Reorganized Debtors, as applicable, unless such Holder holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan on or before the Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder holder asserts, has, or intends to preserve any right of recoupment.

Appears in 2 contracts

Samples: Plan Support Agreement (Vanguard Natural Resources, Inc.), Plan Support Agreement (Vanguard Natural Resources, Inc.)

Setoffs and Recoupment. Except as expressly Unless otherwise provided in this Planthe Plan or the Confirmation Order, each Debtor and each Reorganized Debtor mayDebtor, pursuant to the Bankruptcy Code (including section 553 of the Bankruptcy Code), applicable non-bankruptcy law, or as may be agreed to by the Holder of a Claim, may set off and/or against or recoup against any Plan Distributions Allowed Claim and the distributions to be made pursuant to the Plan on account of such Allowed Claim (before any distribution is made on account of any such Allowed Claim (other than any Allowed Notes Claim held by a Consenting NoteholderClaim), any claims, rights, and all Causes of Action of any nature that such Debtor or Reorganized Debtor, as applicable, may hold against the Holder of such Allowed Claim, to the extent such claims, rights, or Causes of Action against such Holder have not been otherwise compromised or settled as of the Effective Date (whether pursuant to the Plan or otherwise); provided, however, that neither the failure to effect such a setoff or recoupment nor the allowance of any Claim pursuant to the Plan shall constitute a waiver or release by such Debtor or Reorganized Debtor of any such claims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and Holder of Allowed Claim or (2) otherwise adjudicated by the Court or another court of competent jurisdiction; provided that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable such Holder. In no event shall any Holder of Claims against, or Interests in, the Debtors be entitled to set off or recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors Debtor or the Reorganized Debtors, Debtor (as applicable), unless such Holder actually has performed filed a motion with the Bankruptcy Court requesting the authority to perform such setoff or recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan on or before the Effective Confirmation Date, and notwithstanding any indication in any Proof of Claim or otherwise that such Holder asserts, has, or intends to preserve any right of recoupmentsetoff or recoupment pursuant to section 553 of the Bankruptcy Code or otherwise.

Appears in 2 contracts

Samples: Restructuring Support Agreement (Ion Geophysical Corp), Restructuring Support Agreement (Quorum Health Corp)

Setoffs and Recoupment. Except as expressly provided in this the Plan, each Reorganized Debtor may, pursuant to section 553 of the Bankruptcy Code, set off and/or recoup against any Plan Distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder)Claim, any and all claims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and the Holder of the Allowed Claim or (2) otherwise adjudicated by the Bankruptcy Court or another court of competent jurisdiction; provided provided, that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holder. In no event shall any Holder of Claims against, or Interests in, the Debtors a Claim be entitled to recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors or the Reorganized Debtors, as applicable, unless such Holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan XIII.F hereof on or before the Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder asserts, has, or intends to preserve any right of recoupment.

Appears in 1 contract

Samples: Credit Agreement (Gulfport Energy Corp)

Setoffs and Recoupment. Except as otherwise expressly provided herein, the Debtors, the Reorganized Debtors, or the GUC Oversight Administrator (in this Planconsultation with the Reorganized Debtors) solely with respect to GUC Administrator Claims, each Reorganized Debtor Specified Causes of Action, or GUC Administrator Claim Related Actions, as applicable, may, pursuant to section 553 of the Bankruptcy Codebut shall not be required to, set off and/or against or recoup against from any Plan Distributions to be made on account Claims of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder), any and all claims, rights, and Causes of Action nature whatsoever that such the Debtors or the Reorganized Debtor Debtors may hold have against the Holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and Holder of Allowed Claim or (2) otherwise adjudicated by the Court or another court of competent jurisdiction; provided that Holder, but neither the failure to effectuate a setoff or recoupment do so nor the allowance Allowance of any Claim hereunder shall constitute a waiver or release by a the Debtors or the Reorganized Debtor or its successor Debtors of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor Claim they may possess have against the applicable HolderHolder of such Claim. In no event shall any Holder of Claims against, or Interests in, the Debtors be entitled to recoup set off any such Claim or Interest against any claim, right, or Cause of Action of the Debtors Debtor or the Reorganized Debtors, Debtor (as applicable), unless (i) the Debtors have consented; and (ii) such Holder actually has performed Filed a motion with the Bankruptcy Court requesting the authority to perform such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan setoff on or before the Effective Confirmation Date, and notwithstanding any indication in any Proof of Claim or otherwise that such Holder asserts, has, or intends to preserve any right of recoupmentsetoff pursuant to section 553 of the Bankruptcy Code or otherwise. Notwithstanding anything set forth in this paragraph, any set off right with respect to assumed Executory Contract or Unexpired Lease shall be governed by applicable non-bankruptcy law, including the terms of such assumed Executory Contract or Unexpired Lease.

Appears in 1 contract

Samples: Joinder Agreement (Hertz Corp)

Setoffs and Recoupment. Except as expressly provided in this Plan, each Reorganized Debtor may, pursuant to section 553 of the Bankruptcy Code, set off and/or recoup against any Plan Distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder)Claim, any and all claims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and Holder of Allowed Claim or (2) otherwise adjudicated by the Bankruptcy Court or another court of competent jurisdiction; provided that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holder. In no event shall any Holder of Claims against, or Interests in, the Debtors be entitled to recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors or the Reorganized Debtors, as applicable, unless such Holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan on or before the Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder asserts, has, or intends to preserve any right of recoupment.

Appears in 1 contract

Samples: Restructuring Support Agreement (Avaya Holdings Corp.)

Setoffs and Recoupment. Except as expressly provided in this PlanPlan or Plan Supplement, each Reorganized Debtor may, pursuant to section 553 of the Bankruptcy Code, set off and/or recoup against any Plan Distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder)Claim, any and all claimsClaims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and the Holder of the Allowed Claim or (2) otherwise adjudicated by the Bankruptcy Court or another court of competent jurisdiction; provided that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claimsClaims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holder. In no event shall any Holder of Claims against, or Equity Interests in, the Debtors be entitled to recoup any such Claim or Equity Interest against any claimClaim, right, or Cause of Action of the Debtors or the Reorganized Debtors, as applicable, unless such Holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan XII.F hereof on or before the Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder asserts, has, or intends to preserve any right of recoupment. L. Claims Paid or Payable by Third Parties. 1.

Appears in 1 contract

Samples: Appgate, Inc.

Setoffs and Recoupment. Except as expressly provided in this Plan, each Reorganized Debtor may, pursuant to section 553 of the Bankruptcy Code, set off and/or recoup against any Plan Distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder)Claim, any and all claims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and Holder the holder of the Allowed Claim or (2) otherwise adjudicated by the Bankruptcy Court or another court of competent jurisdiction; provided provided, however, that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holderholder. In no event shall any Holder holder of Claims against, or Interests in, the Debtors a Claim be entitled to recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors or the Reorganized Debtors, as applicable, unless such Holder holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan hereof on or before the Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder holder asserts, has, or intends to preserve any right of recoupment.

Appears in 1 contract

Samples: Restructuring Support Agreement (Jones Energy, Inc.)

Setoffs and Recoupment. Except as expressly provided in this Plan, each Reorganized Debtor may, pursuant to section 553 of the Bankruptcy Code, set off and/or recoup against any Plan Distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder)Claim, any and all claimsClaims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and the Holder of the Allowed Claim or (2) otherwise adjudicated by the Bankruptcy Court or another court of competent jurisdiction; provided that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holder. In no event shall any Holder of Claims against, or Interests in, the Debtors a Claim be entitled to recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors or the Reorganized Debtors, as applicable, unless such Holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan XIII.F hereof on or before the Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder asserts, has, or intends to preserve any right of recoupment.

Appears in 1 contract

Samples: Restructuring Support Agreement (Lannett Co Inc)

Setoffs and Recoupment. Except as expressly Unless otherwise provided in this Planthe Plan or the Confirmation Order, each Debtor and each Reorganized Debtor mayDebtor, pursuant to the Bankruptcy Code (including section 553 of the Bankruptcy Code), applicable non-bankruptcy law, or as may be agreed to by the Holder of a Claim, may set off and/or against or recoup against any Plan Distributions Allowed Claim and the distributions to be made pursuant to the Plan on account of such Allowed Claim (before any distribution is made on account of any such Allowed Claim (other than any Allowed Notes Claim held by a Consenting NoteholderClaim), any claims, rights, and all Causes of Action of any nature that such Debtor or Reorganized Debtor, as applicable, may hold against the Holder of such Allowed Claim, to the extent such claims, rights, or Causes of Action against such Holder have not been otherwise compromised or settled as of the Effective Date (whether pursuant to the Plan or otherwise); provided, however, that neither the failure to effect such a setoff or recoupment nor the allowance of any Claim pursuant to the Plan shall constitute a waiver or release by such Debtor or Reorganized Debtor of any such claims, rights, and Causes of Action that such Reorganized Debtor may hold possess against the Holder such Holder; provided further that nothing herein shall limit any rights of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among under the relevant Reorganized Debtor(s) and Holder of Allowed Claim or (2) otherwise adjudicated by Exit Facility Documents with respect to matters occurring after the Court or another court of competent jurisdiction; provided that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable HolderEffective Date. In no event shall any Holder of Claims against, or Interests in, the Debtors be entitled to set off or recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors Debtor or the Reorganized Debtors, Debtor (as applicable), unless such Holder actually has performed filed a motion with the Bankruptcy Court requesting the authority to perform such setoff or recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan on or before the Effective Confirmation Date, and notwithstanding any indication in any Proof of Claim or otherwise that such Holder asserts, has, or intends to preserve any right of recoupmentsetoff or recoupment pursuant to section 553 of the Bankruptcy Code or otherwise.

Appears in 1 contract

Samples: Restructuring Support Agreement (Chaparral Energy, Inc.)

Setoffs and Recoupment. Except as expressly provided in this Plan, each Reorganized Debtor may, pursuant to Bankruptcy Code section 553 of the Bankruptcy Code553, set off and/or recoup against any Plan Distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder)Claim, any and all claims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and Holder of Allowed Claim or (2) otherwise adjudicated by the Bankruptcy Court or another court of competent jurisdiction; provided that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holder. In no event shall any Holder of Claims against, or Interests in, the Debtors be entitled to recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors or the Reorganized Debtors, as applicable, unless such Holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan on or before the Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder asserts, has, or intends to preserve any right of recoupment.

Appears in 1 contract

Samples: Intercreditor Agreement (CURO Group Holdings Corp.)

Setoffs and Recoupment. Except as otherwise expressly provided in this Planherein, each the Debtors, the Reorganized Debtor Debtors, as applicable, may, pursuant to section 553 of the Bankruptcy Codebut shall not be required to, set off and/or against or recoup against from any Plan Distributions to be made on account Claims of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder), any and all claims, rights, and Causes of Action nature whatsoever that such the Debtors or the Reorganized Debtor Debtors may hold have against the Holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and Holder of Allowed Claim or (2) otherwise adjudicated by the Court or another court of competent jurisdiction; provided that Holder, but neither the failure to effectuate a setoff or recoupment do so nor the allowance Allowance of any Claim hereunder shall constitute a waiver or release by a the Debtors or the Reorganized Debtor or its successor Debtors of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor Claim they may possess have against the applicable HolderHolder of such Claim. In no event shall any Holder of Claims against, or Interests in, the Debtors be entitled to recoup set off any such Claim or Interest against any claim, right, or Cause of Action of the Debtors Debtor or the Reorganized Debtors, Debtor (as applicable), unless (i) the Debtors have consented; and (ii) such Holder actually has performed Filed a motion with the Bankruptcy Court requesting the authority to perform such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan setoff on or before the Effective Confirmation Date, and notwithstanding any indication in any Proof of Claim or otherwise that such Holder asserts, has, or intends to preserve any right of recoupmentsetoff pursuant to section 553 of the Bankruptcy Code or otherwise. Notwithstanding anything set forth in this paragraph, any set off right with respect to an assumed Executory Contract or Unexpired Lease shall be governed by applicable non-bankruptcy law, including the terms of such assumed Executory Contract or Unexpired Lease.

Appears in 1 contract

Samples: Plan Support Agreement (Hertz Corp)

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Setoffs and Recoupment. Except as expressly provided in this Plan, each Reorganized Debtor may, pursuant to section 553 of the Bankruptcy Code, set off and/or recoup against any Plan Distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder)Claim, any and all claims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and Holder the holder of the Allowed Claim or (2) otherwise adjudicated by the Bankruptcy Court or another court of competent jurisdiction; provided provided, however, that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holderholder; provided, further, that the Debtors or the Reorganized Debtors shall not be authorized to set off or recoup against any Allowed Notes Claim and the distributions to be made pursuant to the Plan on account of such Allowed Notes Claim. In no event shall any Holder holder of Claims against, or Interests in, the Debtors a Claim be entitled to recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors or the Reorganized Debtors, as applicable, unless such Holder holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan hereof on or before the Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder holder asserts, has, or intends to preserve any right of recoupment.

Appears in 1 contract

Samples: Subscription Agreement (5E Advanced Materials, Inc.)

Setoffs and Recoupment. Except as expressly provided in this Plan, each Reorganized Debtor may, pursuant to section 553 of the Bankruptcy Code, set off and/or recoup against any Plan Distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder)Claim, any and all claims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and Holder of Allowed Claim or (2) otherwise adjudicated by the Court or another court of competent jurisdiction; provided that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holder. In no event shall any Holder of Claims against, or Interests in, the Debtors be entitled to recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors or the Reorganized Debtors, as applicable, unless such Holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan on or before the Plan Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder asserts, has, or intends to preserve any right of recoupment.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (QualTek Services Inc.)

Setoffs and Recoupment. Except as otherwise expressly provided in this PlanPlan and the DIP Orders, each Reorganized Debtor may, pursuant to section 553 of the Bankruptcy Code, set off and/or recoup against any distributions under the Plan Distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder)Claim, any and all claims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and Holder the holder of the Allowed Claim or (2) otherwise adjudicated by the Bankruptcy Court or another court of competent jurisdiction; provided that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holderholder. In no event shall any Holder holder of Claims against, or Interests in, the Debtors a Claim be entitled to recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors or the Reorganized Debtors, as applicable, unless such Holder holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan VIII.I hereof on or before the Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder holder asserts, has, or intends to preserve any right of recoupment.

Appears in 1 contract

Samples: Restructuring Support Agreement (Ultra Petroleum Corp)

Setoffs and Recoupment. Except as expressly provided in this Prepackaged Plan, each Reorganized Debtor or Post-Effective Date Debtor, as applicable, may, pursuant to section 553 of the Bankruptcy Code, set off and/or recoup against any Plan Distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder)Claim, any and all claims, rights, and Causes of Action that such Reorganized Debtor or Post-Effective Date Debtor, as applicable, may hold against the Holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) or Post-Effective Date Debtor(s), as applicable, and the Holder of the Allowed Claim or (2) otherwise adjudicated by the Bankruptcy Court or another court of competent jurisdiction; provided that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or Post-Effective Date Debtor, as applicable, or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holderholder. In no event shall any Holder of Claims against, or Interests in, the Debtors a Claim be entitled to recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors Debtors, the Reorganized Debtors, or the Reorganized Post-Effective Date Debtors, as applicable, unless such Holder holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan hereof on or before the Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder holder asserts, has, or intends to preserve any right of recoupment.

Appears in 1 contract

Samples: Contingent Value Rights Agreement (Akumin Inc.)

Setoffs and Recoupment. Except as expressly otherwise provided in this Planfor herein with respect to the Senior Notes Claims, each the Debtors or the Reorganized Debtor Debtors may, pursuant to section 553 of the Bankruptcy Codebut shall not be required to, set off and/or against or recoup against from any Plan Distributions Allowed Claim and the distributions to be made pursuant to the Plan on account of such Allowed Claim (before any distribution is made on account of any such Allowed Claim (other than any Allowed Notes Claim held by a Consenting NoteholderClaim), any and all claimsClaims, rights, and Causes of Action Actions of any nature whatsoever that such the Debtors or the Reorganized Debtor Debtors may hold have against the Holder of such Allowed Claim Claim, to the extent such setoff Claims, rights, or recoupment is either Causes of Action against such Holder have not been otherwise compromised or settled on or prior to the Effective Date (1) agreed in amount among whether pursuant to the relevant Reorganized Debtor(s) and Holder of Allowed Claim Plan or (2) otherwise adjudicated by the Court or another court of competent jurisdictionotherwise); provided that neither the failure to effectuate effect such a setoff or recoupment nor the allowance of any Claim hereunder pursuant to the Plan shall constitute a waiver or release by a the Debtors or Reorganized Debtor or its successor Debtors of any and all claimssuch Claims, rights, and Causes of Action that the Debtors or Reorganized Debtors may have against such Reorganized Debtor or its successor may possess against the applicable Holder. In no event shall any Holder of Claims against, or Interests in, the Debtors a Claim be entitled to recoup set off any such Claim or Interest against any claimClaim, right, or Cause of Action of the Debtors a Debtor or the a Reorganized DebtorsDebtor, as applicable, unless such Holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan on or before the Effective Date, notwithstanding any indication in any timely Filed a Proof of Claim or otherwise that with the Bankruptcy Court preserving such Holder asserts, has, or intends to preserve any right of recoupmentsetoff.

Appears in 1 contract

Samples: Recapitalization Agreement (Ventura Capital Privado, S.A. De C.V.)

Setoffs and Recoupment. Except as expressly provided in this Plan, each Reorganized Debtor may, pursuant to section 553 of the Bankruptcy Code, set off and/or recoup against any Plan Distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting Noteholder)Claim, any and all claims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and the Holder of the Allowed Claim or (2) otherwise adjudicated by the Bankruptcy Court or another court of competent jurisdiction; provided provided, however, that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holder. In no event shall any Holder of Claims against, or Interests in, the Debtors a Claim be entitled to recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors or the Reorganized Debtors, as applicable, unless such Holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan hereof on or before the Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder asserts, has, or intends to preserve any right of recoupment.

Appears in 1 contract

Samples: Restructuring Support Agreement (Denbury Resources Inc)

Setoffs and Recoupment. Except as expressly provided in this Prepackaged Plan, each Reorganized Debtor may, pursuant to section 553 of the Bankruptcy Code, set off and/or recoup against any Plan Distributions to be made on account of any Allowed Claim (other than any Allowed Notes Claim held by a Consenting NoteholderDIP Claims and Prepetition Term Loan Claims), any and all claims, rights, and Causes of Action that such Reorganized Debtor may hold against the Holder of such Allowed Claim to the extent such setoff or recoupment is either (1) agreed in amount among the relevant Reorganized Debtor(s) and the Holder of the Allowed Claim or (2) otherwise adjudicated by the Bankruptcy Court or another court of competent jurisdiction; provided that neither the failure to effectuate a setoff or recoupment nor the allowance of any Claim hereunder shall constitute a waiver or release by a Reorganized Debtor or its successor of any and all claims, rights, and Causes of Action that such Reorganized Debtor or its successor may possess against the applicable Holderholder. In no event shall any Holder of Claims against, or Interests in, the Debtors a Claim be entitled to recoup any such Claim or Interest against any claim, right, or Cause of Action of the Debtors or the Reorganized Debtors, as applicable, unless such Holder holder actually has performed such recoupment and provided notice thereof in writing to the Debtors in accordance with Article XII.G of the Plan hereof on or before the Effective Date, notwithstanding any indication in any Proof of Claim or otherwise that such Holder holder asserts, has, or intends to preserve any right of recoupment.

Appears in 1 contract

Samples: Restructuring Support Agreement (View, Inc.)

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