Support of Financial Restructuring. As long as this Agreement has not been terminated pursuant to Section 6 hereof each Supporting Noteholder severally agrees with each other Supporting Noteholder and with the Company that, if the Company proposes the Plan, such Supporting Noteholder (i) will, subject to receipt of a Disclosure Statement prepared pursuant to and satisfying the requirements of chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") applicable to disclosure statements that contains information concerning the Company and such Plan that is in all material respects consistent with the information presently available and contains no information that is materially inconsistent with such presently available information, and further subject to its vote on the Plan being solicited in accordance with the Bankruptcy Code (the "Solicitation Standards"), vote all of its claims against, and equity interests in, the Company, whether now owned or hereafter acquired, to the extent lawfully allowed to vote, to accept such Plan and otherwise support and take all reasonable actions to facilitate, the proposal, solicitation, confirmation, and consummation of such Plan; (ii) will not object to confirmation of, or vote to reject, the Plan or otherwise commence any proceeding to oppose or alter the Plan, the Disclosure Statement in respect of the Plan, the solicitation of its acceptance of the Plan in accordance with the Solicitation Standards or any other reorganization documents containing terms and conditions consistent in all respects with the Term Sheet and this Agreement; (iii) will vote against any restructuring workout or plan of reorganization relating to Trico other than the Plan; and (iv) will not directly or indirectly seek, solicit, support, encourage, vote for, consent to, or participate in the negotiation or formulation of (x) any plan of reorganization, proposal, offer, dissolution, winding up, liquidation, reorganization, merger, or restructuring for the Company other than the Plan, (y) any disposition outside of the Plan of all or any substantial portion of the assets of the Company, or (z) any other action that is inconsistent with, or that would delay or obstruct the proposal solicitation, confirmation, or consummation of, the Plan.
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Samples: Plan Support Agreement (Trico Marine Services Inc), Plan Support Agreement (Trico Marine Services Inc)
Support of Financial Restructuring. (a) As long as this Agreement has not been terminated pursuant to Section 6 5 hereof and the documents that are reasonably necessary to effectuate the terms of the Plan (including, without limitation, all material financing documents) are reasonably satisfactory in form and substance to the Majority Supporting Noteholders (as defined below), each Supporting Noteholder severally agrees with each other Supporting Noteholder and with the Company that, if the Company proposes the Plan, such Supporting Noteholder (i) willshall, subject to receipt of a the Disclosure Statement prepared pursuant to and satisfying the requirements of chapter 11 of title 11 of the United States Code Statement, as soon as practicable (the "Bankruptcy Code") applicable to disclosure statements that contains information concerning the Company and such Plan that is but in all material respects consistent with the information presently available and contains no information that is materially inconsistent with such presently available information, and further subject to its vote on the Plan being solicited in accordance with the Bankruptcy Code (the "Solicitation Standards"case later than any voting deadline stated therein), vote all of its claims againstSenior Subordinated Notes, Claims (as defined below), and equity interests ininterests, the Companyas applicable, whether now owned or hereafter acquired, to accept the extent lawfully allowed to vote, to accept such Plan and otherwise support and take all reasonable actions to facilitate, facilitate the proposal, solicitation, confirmation, and consummation of such the Plan; (ii) will shall not object to confirmation of, or vote to reject, the Plan or otherwise commence or participate in any proceeding to oppose directly or alter indirectly for the purpose of opposing or altering the Plan, the Disclosure Statement in respect of the PlanStatement, the solicitation of its acceptance acceptances of the Plan in accordance with the Solicitation Standards or any other reorganization documents containing terms and conditions consistent in all material respects with the Term Sheet Plan and this Agreement; (iii) will shall vote against any restructuring workout restructuring, workout, or plan of reorganization relating to Trico the Company and/or its subsidiaries other than the Plan; and (iv) will shall not directly or indirectly seek, solicit, support, encourage, vote for, consent to, or participate in the negotiation or formulation of (x) any plan of reorganization, proposal, offer, dissolution, winding up, liquidation, reorganization, merger, or restructuring for the Company and/or its subsidiaries other than the Plan, (y) any disposition outside of the Plan of all or any substantial portion of the assets of the CompanyCompany and/or its subsidiaries, or (z) any other action (including any request to terminate exclusivity) that is inconsistent with, or that would delay or obstruct the proposal proposed solicitation, confirmation, or consummation of, of the Plan.
Appears in 1 contract
Samples: Plan Support and Lock Up Agreement (Integrated Electrical Services Inc)
Support of Financial Restructuring. As Subject to Section 11, as long as this Agreement has not been terminated pursuant to Section 6 hereof 7 hereof, each Supporting Noteholder severally agrees with each other Supporting Noteholder and with the Company that, if the Company proposes the Plan, such Supporting Noteholder (i) will, subject to receipt of a Disclosure Statement prepared pursuant to and satisfying the requirements of chapter 11 of title 11 of the United States Bankruptcy Code (the "Bankruptcy Code") applicable to disclosure statements that contains information concerning the Company and such Plan that is in all material respects consistent with the information presently available provided to the Supporting Noteholders by the Company or filed with the Securities Exchange Commission (collectively, “Information”) and contains no information that is materially inconsistent with such presently available informationthe Information, and further subject to its vote on the Plan being solicited in accordance with the Bankruptcy Code (the "“Solicitation Standards"”), vote all of its claims against, and equity interests in, against the Company, whether now owned or hereafter acquired, to the extent lawfully allowed to vote, to accept such Plan and otherwise support and take all reasonable actions to facilitate, the proposal, solicitation, confirmation, and consummation of such Plan; (ii) will not object to confirmation of, or vote to reject, the Plan or otherwise commence any proceeding to oppose or alter the Plan, the Disclosure Statement in respect of the Plan, the solicitation of its acceptance of the Plan in accordance with the Solicitation Standards or any other reorganization documents containing terms and conditions consistent in all respects with the Term Sheet and this Agreement; (iii) will vote against any restructuring workout or plan of reorganization relating to Trico Curative other than the Plan; and (iv) will not directly or indirectly seek, solicit, support, encourage, vote for, consent to, or participate in the negotiation or formulation of (x) any plan of reorganization, proposal, offer, dissolution, winding up, liquidation, reorganization, merger, or restructuring for the Company other than the Plan, (y) any disposition outside of the Plan of all or any substantial portion of the assets of the Company, or (z) any other action that is inconsistent with, or that would delay or obstruct the proposal proposal, solicitation, confirmation, or consummation of, the Plan.
Appears in 1 contract
Samples: Plan Support Agreement (Curative Health Services Inc)