PLAN SUPPORT AGREEMENT
Exhibit D
EXECUTION COPY
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
FOR THE DISTRICT OF DELAWARE
) | ||||||
In re:
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) | Chapter 11 | ||||
) | ||||||
VISTEON CORPORATION, et al.,1
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) | Case No. 09-11786 (CSS) | ||||
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Debtors.
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) | Jointly Administered | ||||
) |
THIS PLAN SUPPORT AGREEMENT IS NOT AN OFFER WITH RESPECT TO ANY SECURITIES OR A
SOLICITATION OF VOTES WITH RESPECT TO A CHAPTER 11 PLAN OF REORGANIZATION. ANY
SUCH OFFER OR SOLICITATION WILL COMPLY WITH ALL APPLICABLE SECURITIES LAWS
AND/OR PROVISIONS OF THE BANKRUPTCY CODE. ACCEPTANCES OR REJECTIONS WITH
RESPECT TO A CHAPTER 11 PLAN OF REORGANIZATION MAY NOT BE SOLICITED UNTIL A
DISCLOSURE STATEMENT HAS BEEN APPROVED BY THE BANKRUPTCY COURT.
This PLAN SUPPORT AGREEMENT (the “Agreement”) is made and
entered into as of May 6,
2010, by and among:
(a) | Visteon Corporation and all of its direct and indirect affiliates, that are or
may become a debtor and debtor in possession (collectively, the “Debtors”) in
the above-captioned chapter 11 cases (the “Chapter 11 Cases”); |
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(b) | the undersigned holders (each, a “Consenting 7.00% Senior Note Holder”
and collectively, the “Consenting 7.00% Senior Note Holders”) of certain claims
derived from or based upon the 7.00% senior notes due March 10, 2014, issued by |
1 | The Debtors in these chapter 11 cases, along with the last four
digits of each Debtor’s federal tax identification number, are: Visteon
Corporation (9512); ARS, Inc. (3590); Fairlane Holdings, Inc. (8091);
GCM/Visteon Automotive Leasing Systems, LLC (4060); GCM/Visteon Automotive
Systems, LLC (7103); Infinitive Speech Systems Corp. (7099); MIG-Visteon
Automotive Systems, LLC (5828); SunGlas, LLC (0711); The Visteon Fund (6029);
Tyler Road Investments, LLC (9284); VC Aviation Services, LLC (2712); VC
Regional Assembly & Manufacturing, LLC (3058); Visteon AC Holdings Corp.
(9371); Visteon Asia Holdings, Inc. (0050); Visteon Automotive Holdings, LLC
(8898); Visteon Caribbean, Inc. (7397); Visteon Climate Control Systems Limited
(1946); Visteon Domestic Holdings, LLC (5664); Visteon Electronics Corporation
(9060); Visteon European Holdings Corporation (5152); Visteon Financial
Corporation (9834); Visteon Global Technologies, Inc. (9322); Visteon Global
Treasury, Inc. (5591); Visteon Holdings, LLC (8897); Visteon International
Business Development, Inc. (1875); Visteon International Holdings, Inc. (4928);
Visteon LA Holdings Corp. (9369); Visteon Remanufacturing Incorporated (3237);
Visteon Systems, LLC (1903); Visteon Technologies, LLC (5291). The location of
the Debtors’ corporate headquarters and the service address for all the Debtors
is: Xxx Xxxxxxx Xxxxxx Xxxxx, Xxx Xxxxx Xxxxxxxx, Xxxxxxxx 00000. |
Visteon Corporation in the original amount of $450,000,000 under that certain
supplemental indenture dated as of March 10, 2004, by and between Visteon
Corporation and X.X. Xxxxxx Trust Company, N.A., as trustee (the “7.00% Senior
Notes”); |
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(c) | the undersigned holders (each, a “Consenting 8.25% Senior Note Holder”
and collectively, the “Consenting 8.25% Senior Note Holders”) of certain claims
derived from or based upon the 8.25% senior notes due August 1, 2010, issued by Visteon
Corporation in the original amount of $700,000,000 under that certain indenture dated
as of June 23, 2000, by and between Visteon Corporation and Bank One Trust Company,
N.A., as trustee (the “8.25% Senior Notes”), who, together with the Consenting
7.00% Senior Note Holders, hold at least two-thirds in amount of the aggregate
principal amount of the 7.00% Senior Notes and 8.25% Senior Notes; and |
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(d) | the undersigned holders (each, a “Consenting 12.25% Senior Note Holder”
and collectively, the “Consenting 12.25% Senior Note Holders” and together with
the Consenting 7.00% Senior Note Holders and the Consenting 8.25% Senior Note Holders,
the “Consenting Senior Note Holders”) of at least two-thirds in amount of
certain claims derived from or based upon the 12.25% senior notes due December 31,
2016, issued by Visteon Corporation in the original amount of $206,386,000 under that
certain second supplemental indenture dated as of June 18, 2008, by and among Visteon
Corporation, the guarantors party thereto, and The Bank of New York Trust Company,
N.A., as trustee (the “12.25% Senior Notes” and together with the 7.00% Senior
Notes and the 8.25% Senior Notes, the “Visteon Notes” ). |
The Consenting Senior Note Holders, together with the Debtors, are defined
collectively as the
“Parties.”
RECITALS
WHEREAS, on May 28, 2009, each of the above-captioned Debtors
filed a voluntary petition for
relief under chapter 11 of the Bankruptcy Code, 11 U.S.C. §§ 101-1532 (the “Bankruptcy
Code”) with the United States Bankruptcy Court for the District of Delaware (the
“Bankruptcy Court”).
WHEREAS, each Consenting Senior Note Holder is a Holder of a Claim,
as defined in section
101(5) of the Bankruptcy Code derived from or based upon the 7.00% Senior Notes (each, a “7.00%
Senior Notes Claim”), the 8.25% Senior Notes (each, a “8.25% Senior Notes Claim”),
and/or the 12.25% Senior Notes (each, a “12.25% Senior Notes Claim” and together with the
7.00% Senior Notes Claims, the 8.25% Senior Notes Claims, Claims held by the Consenting Senior Note
Holders arising under that certain Amended and Restated Credit Agreement dated as of April 10,
2007, as amended, supplemented, or modified from time to time, by and between, Visteon Corporation,
as borrower, JPMorgan Chase Bank, N.A., as administrative agent, Wilmington Trust FSB, as successor
administrative agent and the various
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banks, financial institutions, and other entities party thereto, as lenders, and General
Unsecured Claims held by the Consenting Senior Note Holders, the “Visteon Claims”);
WHEREAS, on December 17, 2009, the Debtors filed the Joint
Plan of Reorganization of Visteon
Corporation and Its Debtor Affiliates Pursuant to Chapter 11 of the United States Bankruptcy Code
[Docket No. 1475] and the Disclosure Statement for the Debtors’ Joint Plan of Reorganization
Pursuant to Chapter 11 of the United States Bankruptcy Code [Docket No. 1476];
WHEREAS, on March 15, 2010, the Debtors filed the First
Amended Joint Plan of Reorganization
of Visteon Corporation and Its Debtor Affiliates Pursuant to Chapter 11 of the United States
Bankruptcy Code [Docket No. 2544] and the First Amended Disclosure Statement for the First Amended
Joint Plan of Reorganization Pursuant to Chapter 11 of the United States Bankruptcy Code [Docket
No. 2545];
WHEREAS, the Debtors have engaged in good faith negotiations with the
Consenting Senior Note
Holders, including the Consenting Senior Note Holders holding a majority in principal amount,
respectively, of the 7.00% Senior Notes Claims, 8.25% Senior Notes Claims, and 12.25% Senior Notes
Claims held by the Consenting Senior Note Holders, regarding the terms of a further amended joint
plan of reorganization pursuant to chapter 11 of the United States Bankruptcy Code in the form
annexed hereto as Exhibit A (and as may be amended as permitted by Section 2.5(d)
of this Agreement, the “Amended Plan”);2
WHEREAS, in connection with the rights offering contemplated by the
Rights Offering Sub Plan,
the Debtors are seeking Bankruptcy Court approval of that certain Equity Commitment Agreement, by
and among the Debtors and the Investors (as defined in the Equity Commitment Agreement, the
“Investors”), dated as of May 6, 2010 (the “Equity Commitment Agreement”);
WHEREAS, each Consenting Senior Note Holder has reviewed or has had
the opportunity to review
the Amended Plan;
WHEREAS, the Debtors and the Consenting Holders have agreed to
facilitate confirmation and
consummation of the Amended Plan and any and all related transactions in the manner set forth
herein and in the Amended Plan (collectively, the “Restructuring”);
WHEREAS, to ensure an orderly confirmation process, (a) the
Debtors are prepared to perform
their obligations hereunder subject to the terms and conditions of this Agreement, including, among
other things to seek the Bankruptcy Court’s approval of the Disclosure Statement (substantially in
the form attached hereto as Exhibit B, with any such amendments, supplements, changes and
modifications thereto that may be made subject to the provisions hereof, which Disclosure Statement
shall be in such form and substance as is reasonably satisfactory to Requisite Investors (as
defined in the Equity Commitment Agreement, the “Requisite Investors”) and with any changes
or modifications required by the Bankruptcy Court, the “Disclosure Statement”) prior to
soliciting votes on the Amended Plan in accordance with section 1125 of the Bankruptcy Code and (b)
the Consenting Senior Note Holders are prepared
2 | Capitalized terms used but not defined herein shall have the
meanings ascribed to them in the Amended Plan. |
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to perform their obligations hereunder subject to the terms and conditions of this Agreement,
including, without limitation, working with the Debtors to obtain Bankruptcy Court approval of this
Agreement and the Amended Plan; and
WHEREAS, in expressing their support for the Agreement and the
Amended Plan (pursuant to the
terms and conditions of this Agreement), the Parties do not desire and do not intend in any way to
derogate or diminish the solicitation requirements of applicable securities and bankruptcy law, or
the fiduciary duties of the Debtors.
NOW, THEREFORE, subject to the provisions of Section 8.7
of this Agreement, in
consideration of the foregoing and the premises, mutual covenants, and agreements set forth herein
and for other good and valuable consideration, the Parties agree as follows:
Section 1. The Amended Plan.
The Amended Plan is incorporated by reference herein and made part of this
Agreement and each
Consenting Senior Note Holder has reviewed or has had the opportunity to review the Amended Plan.
Section 2. Commitments of the Parties Under this Agreement.
2.1 | Consenting Senior Note Holders’ and Debtors’ Support of Amended Plan. |
(a) | As long as this Agreement shall not have been terminated in accordance with
Section 7 or Section 2.5 hereof, each Consenting Senior Note Holder
agrees that, unless it shall have terminated its obligations hereunder pursuant to
Section 7.1(d) hereof, by having executed and become party to this Agreement,
it shall: |
(1) | support entry of the Disclosure Statement Order (as defined
below); |
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(2) | agree to permit disclosure in any disclosure statement and any
filings by the Debtors with the Securities and Exchange Commission of the
contents of this Agreement, including the aggregate 7.00% Senior Notes Claims,
8.25% Senior Notes Claims, and 12.25% Senior Notes Claims held by all
Consenting Senior Note Holders; provided, however, that the
amount of such claims held by any individual Consenting Senior Note Holder
shall be disclosed only to the Debtors and shall not be disclosed by the
Debtors to any other Entity, unless required by applicable law, regulation, or
legal process; and |
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(3) | vote all Relevant Claims (as defined below) it holds to accept
the Amended Plan when solicited pursuant to the Disclosure Statement Order by
the Debtors, provided, however, that (a) the Disclosure
Statement shall be substantially in the form attached hereto as Exhibit
B, with any such amendments, supplements, changes and modifications
thereto, which Disclosure Statement shall be in such form and substance as is
reasonably satisfactory to Requisite Investors and with any changes or
modifications required by the Bankruptcy Court; (b) the Amended Plan is in the
form |
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attached hereto as Exhibit A except as may be amended pursuant to
Section 2.5(d) of this Agreement; and (c) the Bankruptcy Court has
entered the Disclosure Statement Order. |
(b) | Unless the Debtors and the Consenting Senior Note Holders have agreed, in
writing, to pursue an Alternative Plan (as defined below) and as long as this Agreement
shall not have been terminated in accordance with Section 7 or Section
2.5 hereof, the Debtors (subject in all respects to their fiduciary duties) and
each Consenting Senior Note Holder (so long as such Consenting Senior Note Holder shall
not have terminated its obligations hereunder pursuant to Section 7.1(d)
hereof) further agree that they shall not (as applicable): |
(1) | directly or indirectly seek, solicit, support, or vote in favor
of any other plan, sale, proposal, or offer of dissolution, winding up,
liquidation, reorganization, merger, or restructuring of the Debtors that could
reasonably be expected to prevent, delay, or impede the restructuring of the
Debtors as contemplated by the Amended Plan or that is inconsistent with this
Agreement (collectively, an “Alternative Plan”); |
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(2) | directly or indirectly (a) engage in, continue, or otherwise
participate in any negotiations regarding any Alternative Plan, (b) enter into
a letter of intent, memorandum of understanding, agreement in principle, or
other agreement relating to any Alternative Plan or (c) withhold, withdraw,
qualify, or modify their approval or recommendation of this Agreement, the
Amended Plan, or the Restructuring; |
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(3) | object to or otherwise commence any proceeding opposing any of
the terms of the Amended Plan or the Disclosure Statement, including, without
limitation, the findings of the Valuation Analysis (as defined in the
Disclosure Statement), provided that nothing contained herein shall
limit the ability of any Consenting Senior Note Holder to consult with the
Debtors, to appear and be heard, or to file objections, concerning any matter
arising in the Chapter 11 Cases, so long as such consultation, appearance or
objection is not inconsistent with (i) such Consenting Senior Note Holder’s
obligations under this Agreement or (ii) the terms of the Amended Plan and the
other transactions contemplated by and in accordance with this Agreement and
the Amended Plan; |
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(4) | commence any proceeding or prosecute, join in, or otherwise
support any action to oppose or object to entry of the Disclosure Statement
Order; |
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(5) | encourage any other Entity to object to, delay, impede, appeal,
or take any other action, directly or indirectly, to interfere with entry of
the Disclosure Statement Order or, after approval thereof, an order of the
Bankruptcy Court confirming the Amended Plan; |
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(6) | commence any proceeding or prosecute, join in, or otherwise
support any action to oppose or object to approval of the Amended Plan; or |
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(7) | take any action that is inconsistent with this Agreement or the
Amended Plan, or that would unreasonably delay approval of the Disclosure
Statement or confirmation of the Amended Plan. |
For the avoidance of doubt, the Claims Conversion Sub Plan shall not be an
Alternative Plan if
implemented or consummated pursuant to and substantially in accordance with the Amended Plan and
not in violation of the Equity Commitment Agreement. Further, the obligations of any Consenting
Senior Note Holder under this Section 2.1 shall apply to all Relevant Claims and Relevant
Interests (each, as defined below) that such Consenting Senior Note Holder has in the Chapter 11
Cases; provided that the obligations under Section 2.1(a)(3) and Section
2.1(b)(1), to the extent it relates to voting, shall apply only to Relevant Claims (as defined
below) and not to the Equity Securities of Visteon Corporation (the “Equity Interests”),
including the Relevant Interests (as defined below), held by such Consenting Senior Note Holder.
“Relevant Claims” means the Visteon Claims held by a Consenting Senior Note Holder that it
is legally authorized to make subject to the terms of this Agreement, with the exception of any
such Visteon Claims that such Consenting Senior Note Holder has sold, transferred, or assigned
prior to its execution of this Agreement, whether or not any such sale, transfer, or assignment has
settled as of the date hereof (provided that such sale, transfer, or assignment is actually
consummated). “Relevant Interests” means the Equity Interests held by a Consenting Senior
Note Holder that it is legally authorized to make subject to the terms of this Agreement, with the
exception of any such Equity Interests that such Consenting Senior Note Holder has sold,
transferred, or assigned prior to its execution of this Agreement, whether or not any such sale,
transfer, or assignment has settled as of the date hereof (provided that such sale,
transfer, or assignment is actually consummated).
2.2 Transfer of Claims, Interests, and Securities.
Each Consenting Senior Note Holder hereby agrees, for so long as this
Agreement shall remain
in effect with regard to such Consenting Senior Note Holder, not to sell, assign, transfer, pledge,
hypothecate or otherwise dispose of, directly or indirectly (each such action, a
“Transfer”), any of its Relevant Claims or any right related thereto and including any
voting rights associated with such Relevant Claims, unless the transferee thereof delivers an
agreement in writing, in substantially the form of the transfer agreement attached hereto as
Exhibit C (the “Transfer Agreement”), to the Debtors no later than three (3)
Business Days after the relevant Transfer (each such transferee becoming a Consenting Senior Note
Holder upon the Transfer hereunder); provided, however, that any Transfer of
Relevant Claims to a Consenting Senior Note Holder shall not require the execution of a Transfer
Agreement but shall be subject to the provisions of Section 2.3 hereof.
The Debtors shall promptly acknowledge any such Transfer Agreement in
writing and provide a
copy of that acknowledgement to the transferor; provided, however, that any failure
by the Debtors to acknowledge such Transfer Agreement shall not affect the validity or
enforceability thereof. By their acknowledgement of the relevant Transfer Agreement, the Debtors
shall be deemed to have acknowledged that their obligations to the Consenting Senior
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Note Holders hereunder shall be deemed to constitute obligations in favor of the relevant
transferee as a Consenting Senior Note Holder hereunder. Any sale, transfer, or assignment of any
Relevant Claims that does not comply with the procedures set forth in this Section 2.2
shall be deemed void ab initio. Notwithstanding the foregoing, execution of a Transfer Agreement
shall not be required for transferees that are broker-dealers or trading desks in their capacity or
to the extent of their holdings as a broker-dealer or market maker of Claims or Equity Interests (a
“Market Maker”) engaged in market making or riskless back-to-back trades (collectively,
“Market Making Activities”); provided that execution of a Transfer Agreement under
this Section 2.2 shall be required for the actual purchasers of Claims in such market
transactions. For the avoidance of doubt, no Transfer Agreement shall be required in connection
with a Transfer by any Consenting Senior Note Holder of any Equity Interests.
2.3 Further Acquisition of Visteon Claims and Interests.
This Agreement shall in no way be construed to preclude any Consenting
Senior Note Holder or
any of its affiliates (as defined in section 101(2) of the Bankruptcy Code) from acquiring
additional Relevant Claims or Relevant Interests following its execution of this Agreement;
provided, however, that any such additional Relevant Claims or Relevant Interests
acquired by a Consenting Senior Note Holder shall automatically be deemed to be subject to the
terms of this Agreement. Upon the written request of the Debtors, each Consenting Senior Note
Holder shall, in writing and within five (5) Business Days, provide an accurate and current list of
all Relevant Claims and/or Relevant Interests that it holds at that time, subject to any applicable
confidentiality restrictions and applicable law, including the confidentiality restrictions set
forth in Section 2.1(a)(2) hereof.
Each Consenting Senior Note Holder further agrees that it will not knowingly
permit or cause
any subsidiary or affiliate that it is legally authorized to control, now existing or hereafter
created, to acquire any Claims against or Equity Interests in any of the Debtors without causing
such affiliate to become a Party hereto prior to such acquisition; provided,
however, that notwithstanding anything to the contrary contained in this Agreement, the
foregoing restrictions on a Consenting Senior Note Holder knowingly permitting or causing any
subsidiary or affiliate to acquire any Claims against or Equity Interests in any of the Debtors
without becoming a Party hereto set forth in this paragraph shall not apply to the following
Consenting Senior Note Holders: (a) the High Yield Distressed Investing Group of Xxxxxxx, Xxxxx &
Co. (the “High Yield Group”), except with respect to the Transfer of Relevant Claims and
Relevant Interests held by the High Yield Group to any subsidiary or affiliate of the High Yield
Group, which Relevant Claims and Relevant Interests shall, for the avoidance of doubt, remain
Relevant Claims and Relevant Interests following any such Transfer, and (b) the Distressed Products
Group of Deutsche Bank Securities Inc. (the “Distressed Products Group”) except with
respect to the Transfer of Relevant Claims and Relevant Interests held by the Distressed Products
Group to any subsidiary or affiliate of the Distressed Products Group, which Relevant Claims and
Relevant Interests shall, for the avoidance of doubt, remain Relevant Claims and Relevant Interests
following any such Transfer.
Sections 2.2 and 2.3 of this Agreement shall not apply to
Claims or Equity
Interests traded by any subsidiary or affiliate or any trading desk of a Consenting Senior Note
Holder in
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its capacity or to the extent of its holdings as a Market Maker engaged in Market Making
Activities.
2.4 Implementation of the Amended Plan.
Subject to their fiduciary duties and without limiting the rights of the
Requisite Investors
under the Equity Commitment Agreement, the Debtors shall use their commercially reasonable efforts
to:
(a) | file a motion with the Bankruptcy Court authorizing the Debtors to execute and
perform under this Agreement within seven (7) days of the date hereof and use their
commercially reasonable efforts to obtain an order from the Bankruptcy Court approving
such motion (the “Plan Support Agreement Approval Order”); |
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(b) | effectuate and consummate the Restructuring on the terms contemplated by the
Amended Plan; |
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(c) | file the Disclosure Statement with the Bankruptcy Court, along with a motion,
to the extent necessary, seeking approval of such Disclosure Statement; |
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(d) | obtain entry by the Bankruptcy Court of an order approving the Disclosure
Statement in form and substance reasonably acceptable to the Requisite Investors and
finding that the Disclosure Statement satisfies the requirements of Section 1125 of the
Bankruptcy Code (such an order, the “Disclosure Statement Order”); |
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(e) | solicit the requisite acceptances of the Amended Plan in accordance with
section 1125 of the Bankruptcy Code after the Bankruptcy Court has approved the
Disclosure Statement; |
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(f) | after entry of the Disclosure Statement Order, move to confirm the Amended Plan
as expeditiously as practicable under the Bankruptcy Code and the Federal Rules of
Bankruptcy Procedure as applicable to the Chapter 11 Cases, promulgated under 28 U.S.C.
§ 2075 and the general, local, and xxxxxxxx rules of the Bankruptcy Court
(collectively, the “Bankruptcy Rules”); |
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(g) | implement all steps necessary and desirable to obtain the Confirmation Order,
which Confirmation Order shall be consistent in all material respects with the Amended
Plan and shall be in form and substance reasonably acceptable to the Requisite
Investors; |
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(h) | take no actions inconsistent with this Agreement, the Amended Plan, or the
expeditious confirmation and consummation of the Amended Plan; and |
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(i) | seek to consummate the Amended Plan upon satisfaction of all conditions to
consummation thereof. |
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2.5 The Debtors’ Fiduciary Obligations.
Notwithstanding anything to the contrary contained in this Agreement,
subject to the Debtors’
obligations under the Equity Commitment Agreement, the Debtors’ obligations hereunder are subject
at all times to the fulfillment of their respective fiduciary duties. The Debtors may terminate
their obligations under this Agreement by written notice to counsel for the Consenting Senior Note
Holders if the Debtors reasonably determine that (a) the Amended Plan is not in the best interests
of the Debtors’ estates and continued support of the Amended Plan pursuant to this Agreement would
be inconsistent with the Debtors’ fiduciary obligations, or (b) the Debtors receive a proposal for
an Alternative Plan and the Debtors reasonably determine that continued support of the Amended Plan
pursuant to this Agreement would be inconsistent with the Debtors’ fiduciary obligations. Upon a
termination of this Agreement pursuant to this Section 2.5, all obligations of the
Consenting Senior Note Holders hereunder shall immediately terminate without further action or
notice by the Consenting Senior Note Holders.
Section 3. Representations and Warranties of Consenting Senior Note
Holders.
Each of the Consenting Senior Note Holders hereby represents and warrants
that, as of the date
hereof:
(a) | it is the legal owner, beneficial holder, and/or the investment advisor or
manager for the beneficial holder of such legal or beneficial holder’s Relevant Claims
and Relevant Interests subject to this Agreement and set forth on its respective
signature page to this Agreement with authority to bind such beneficial holder to the
extent that such Consenting Senior Note Holder is not the beneficial holder
(respectively, the “Initial Relevant Claims” and “Initial Relevant
Interests”), provided that such information shall be held subject to the proviso in
Section 2.1(a)(2) hereof; |
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(b) | there are no Relevant Claims or Relevant Interests of which it is the holder of
record that are not part of its Initial Relevant Claims and Initial Relevant Interests
unless such Consenting Senior Note Holder does not possess the full power to vote and
dispose of such Claims; and |
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(c) | it has full power to vote (with the exception of such Consenting Senior Note
Holder’s Initial Relevant Interests), dispose of, and compromise the aggregate
principal amount of the Initial Relevant Claims and Initial Relevant Interests. |
Section 4. Mutual Representations, Warranties, and Covenants.
Each Party makes the following representations, warranties, and covenants,
severally and not
jointly as to itself, to each of the other Parties, each of which are continuing representations,
warranties, and covenants:
4.1 Good Faith.
The Parties agree to negotiate in good faith all of the documents and
transactions described
in the Amended Plan and in this Agreement.
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4.2 Enforceability.
Subject to Section 8.7 of this Agreement and the provisions of
sections 1125 and 1126
of the Bankruptcy Code, this Agreement is a legal, valid, and binding obligation, enforceable
against the Debtors and each Consenting Senior Note Holder in accordance with its terms, except as
enforcement may be limited by applicable laws relating to or limiting creditors’ rights generally
or by equitable principles relating to enforceability. Notwithstanding anything contained herein
to the contrary, the obligations of each Consenting Senior Note Holder hereunder shall be several
and not joint.
4.3 No Consent or Approval.
Except as expressly provided in this Agreement, no consent or approval is
required by any
other Entity in order for it to carry out the provisions of this Agreement.
4.4 Power and Authority.
It is duly organized, validly existing, and in good standing under the laws
of its
jurisdiction of organization and it has all requisite corporate, partnership, or limited liability
company power and authority to enter into this Agreement and to carry out the transactions
contemplated by, and perform its respective obligations under, this Agreement and the Amended Plan.
4.5 Authorization.
The execution and delivery of this Agreement and the performance of its
obligations hereunder
have been duly authorized by all necessary corporate, partnership, or limited liability company
action.
4.6 Governmental Consents.
Subject to the provisions of Section 8.7 of this Agreement, the
execution, delivery,
and performance by the Parties of this Agreement does not and shall not require any registration or
filing with or consent or approval of, or notice to, or other action to, with or by, any federal,
state, or other governmental authority or regulatory body, except such filings as may be necessary
and/or required under the federal securities laws or as necessary for the approval of the
Disclosure Statement and confirmation of the Amended Plan by the Bankruptcy Court.
4.7 No Conflicts.
The execution, delivery, and performance of this Agreement does not and
shall not: (a) violate
any provision of law, rule, or regulations applicable to it or, in the case of the Debtors, any of
its subsidiaries; (b) violate its certificate of incorporation, bylaws (or other formation
documents in the case of a limited liability company) or, in the case of the Debtors, those of any
of its subsidiaries; or (c) conflict with, result in a breach of or constitute (with due notice or
lapse of time or both) a default under any material contractual obligation to which it or, in the
case of the Debtors, any of its subsidiaries is a party.
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Section 5. No Waiver of Participation and Preservation of Rights.
This Agreement and the Amended Plan are part of a proposed settlement among
the Parties with
respect to the Relevant Claims and Relevant Interests. Except as expressly provided in this
Agreement, nothing herein is intended to, does or shall be deemed in any manner to waive, limit,
impair, or restrict the ability of each of the Consenting Senior Note Holders to protect and
preserve its rights, remedies, and interests, including, but not limited to, its claims against any
of the Debtors, any liens or security interests it may have in any assets of any of the Debtors, or
its full participation in the Chapter 11 Cases so long as such actions are not inconsistent with
the Consenting Senior Note Holder’s obligations hereunder. Without limiting the foregoing sentence
in any way, if the transactions contemplated by this Agreement or otherwise set forth in the
Amended Plan are not consummated as provided herein or therein, if this Agreement is terminated for
any reason, the Parties each fully reserve any and all of their respective rights, remedies and
interests.
Section 6. Acknowledgement.
THIS AGREEMENT, THE AMENDED PLAN, AND THE TRANSACTIONS CONTEMPLATED HEREIN
AND THEREIN, ARE
THE PRODUCT OF NEGOTIATIONS BETWEEN THE PARTIES AND THEIR RESPECTIVE REPRESENTATIVES. EACH PARTY
HEREBY ACKNOWLEDGES THAT THIS AGREEMENT IS NOT AND SHALL NOT BE DEEMED TO BE A SOLICITATION OF
VOTES FOR THE ACCEPTANCE OF A CHAPTER 11 PLAN FOR THE PURPOSES OF SECTIONS 1125 AND 1126 OF THE
BANKRUPTCY CODE OR OTHERWISE. THE DEBTORS WILL NOT SOLICIT ACCEPTANCES OF THE AMENDED PLAN FROM
ANY CONSENTING SENIOR NOTE HOLDER (OR ANY OTHER PERSON OR ENTITY) UNTIL THE CONSENTING SENIOR NOTE
HOLDERS (OR ANY OTHER PERSON OR ENTITY) HAVE BEEN PROVIDED WITH COPIES OF A DISCLOSURE STATEMENT
APPROVED BY THE BANKRUPTCY COURT. EACH PARTY FURTHER ACKNOWLEDGES THAT NO SECURITIES OF ANY DEBTOR
ARE BEING OFFERED OR SOLD HEREBY AND THAT THIS AGREEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO BUY ANY SECURITIES OF ANY DEBTOR. NOTWITHSTANDING THE FOREGOING
PROVISIONS, NOTHING IN THIS AGREEMENT SHALL REQUIRE ANY PARTY TO TAKE ANY ACTION PROHIBITED BY THE
BANKRUPTCY CODE, THE SECURITIES ACT OF 1933 (AS AMENDED), THE SECURITIES EXCHANGE ACT OF 1934 (AS
AMENDED), ANY RULE OR REGULATIONS PROMULGATED THEREUNDER, OR BY ANY OTHER APPLICABLE LAW OR
REGULATION OR BY AN ORDER OR DIRECTION OF ANY COURT OR ANY STATE OR FEDERAL GOVERNMENTAL AUTHORITY.
Section 7. Termination.
7.1 Termination Events.
This Agreement may be terminated:
(a) | immediately upon the written agreement of the Debtors and the Requisite Senior
Note Holders to terminate this Agreement; |
11
(b) | by any of the Debtors or the Requisite Senior Note Holders upon three (3)
Business Days’ written notice to each of the other Parties; provided that such
notice is delivered in accordance with Section 8.11 hereof and received not
more than ten (10) Business Days following the occurrence of any event described in
clause (1) or (2) below, if: |
(1) | any of the Chapter 11 Cases are dismissed or converted to a
case under Chapter 7 of the Bankruptcy Code; or |
||
(2) | the Bankruptcy Court has entered an order in any of the Chapter
11 Cases appointing an examiner with expanded powers or a trustee under chapter
7 or chapter 11 of the Bankruptcy Code; provided, however, that
the appointment of an examiner pursuant to the motion of that certain ad hoc
committee of equityholders as filed with the Bankruptcy Court on April 2, 2010
shall not give rise to a right to terminate this Agreement; |
(c) | by the Requisite Senior Note Holders, upon three (3) Business Days’ written
notice to the Debtors (or such lesser time if the voting deadline for the Amended Plan
is to occur, or if the Confirmation Hearing is to commence within such period),
provided that with respect to Sections 7.1(c)(1) and (2), the
Requisite Senior Note Holders shall not be permitted to terminate this Agreement if,
prior to the delivery of such notice, the Debtors shall have filed the relevant
document(s) set forth in Sections 7.1(c)(1) and/or (2) below that,
without the occurrence of such filing, would have constituted a basis for terminating
this Agreement, if: |
(1) | the Debtors fail to file a motion seeking authority to perform
under this Agreement within seven (7) days of the date hereof; |
||
(2) | the Debtors have not filed the Amended Plan and the Disclosure
Statement with the Bankruptcy Court on or before May 12, 2010 or such later
date as may be agreed to by the Requisite Senior Note Holders; |
||
(3) | the Debtors have withdrawn the Amended Plan or publicly
announced their intention not to support the Amended Plan or provided written
notice to any Consenting Senior Note Holders (or any of their respective
representatives) of their intention to do so; or |
||
(4) | any court has entered a final, non-appealable judgment or order
declaring this Agreement or any material portion hereof to be unenforceable; |
(d) | by each Consenting Senior Note Holder, but solely with respect to such
Consenting Senior Note Holder (this Agreement remaining in full force and effect as
among the Debtors and the other Consenting Senior Note Holders) upon three (3) Business
Days’ written notice to the Debtors (or such lesser time if the voting deadline for the
Amended Plan is to occur, or if the Confirmation Hearing is to commence within such
period) following a material adverse change or modification to the treatment of the
Claims of holders of Visteon Notes under the |
12
Amended Plan, in the form attached hereto as of the date hereof, that has been
effected without the prior written consent of such Consenting Senior Note Holder; |
|||
(e) | and shall be terminated automatically if the Equity Commitment Agreement has
been validly terminated, subject to, and in accordance with, the Debtors’ rights
hereunder to commence the Expedited Proceedings (as defined below): |
(1) | by Requisite Investors pursuant to Section 10.1(c)(i) of the
Equity Commitment Agreement; |
||
(2) | by Requisite Investors pursuant to Section 10.1(c)(iv) of the
Equity Commitment Agreement (excluding a termination of the Equity Commitment
Agreement by Requisite Investors pursuant to Section 10.1(c)(iv) of the Equity
Commitment Agreement in the event of a breach by any Investor);
provided, however, that this Agreement shall not be terminated
pursuant to this Section 7.1(e)(2) in the event of any extension of the
Outside Date (as defined in the Equity Commitment Agreement) pursuant to clause
(A) or (B) of Section 10.1(b)(iii) of the Equity Commitment Agreement, if,
following the date that would otherwise have been the Outside Date (as defined
in the Equity Commitment Agreement) but for such extension, the Equity
Commitment Agreement is terminated by the Requisite Investors pursuant to
Section 10.1(c)(iv) of the Equity Commitment Agreement as a result of any
breach or breaches of the Equity Commitment Agreement by the Debtors that would
cause a failure of any condition set forth in Section 8.1(l) of the Equity
Commitment Agreement; |
||
(3) | by Requisite Investors pursuant to Section 10.1(c)(vi) of the
Equity Commitment Agreement; |
||
(4) | by the Debtors pursuant to Section 10.1(b)(ii) of the Equity
Commitment Agreement, unless: |
(A) | the Debtors shall have provided the Lead
Investors (as defined in the Equity Commitment Agreement) with ten (10)
Business Days’ prior notice of their intent to terminate the Equity
Commitment Agreement (which notice the Debtors hereby agree to so
deliver); |
||
(B) | the Requisite Investors have failed to exercise
their Plan Cure Rights (as defined below), or have failed to obtain
confirmation of the Rights Offering Sub Plan following their exercise
of such Plan Cure Rights; and |
||
(C) | following a failure of the Requisite Investors
to exercise the Plan Cure Rights or to obtain confirmation of the
Rights Offering Sub Plan following their exercise of the Plan Cure
Rights, the Claims Conversion Sub Plan shall be confirmable by the
Bankruptcy Court without amendment or with only such amendments as
would |
13
not require re-solicitation of the holders of Visteon Notes or, if
also made to the Rights Offering Sub Plan, would result in the
confirmation of the Rights Offering Sub Plan. |
The Requisite Investors’ “Plan Cure Rights” pursuant to this
Section 7.1(e)(4) shall be as follows: within the ten (10) Business
Day period following the Lead Investors’ (as defined in the Equity
Commitment Agreement) receipt of notice of the Debtors’ intent to terminate
the Equity Commitment Agreement pursuant to Section 10.1(b)(ii) thereof, the
Requisite Investors shall deliver a written amendment or amendments which
are acceptable to the Debtors in their reasonable discretion to the Equity
Commitment Agreement or the Amended Plan, as the case may be (collectively,
the “Amendments”), that resolve all objections to the Amended Plan
sustained by the Bankruptcy Court (with the exception of those described in
Section Error! Reference source not found. below) in a manner that
either: |
(i) | does not require the Debtors to
re-solicit approval of the Amended Plan; or |
||
(ii) | if re-solicitation is ordered by
the Bankruptcy Court following the Parties’ request that no
further solicitation be required, such re-solicitation requires
the Debtors to re-solicit approval of the Amended Plan only from
Holders of 7.00% Senior Note Claims, 8.25% Senior Note Claims,
and 12.25% Senior Note Claims; provided that binding
agreements to support the Amended Plan, as amended by the
Amendments, are delivered to the Debtors by Consenting Senior
Note Holders holding at least two-thirds in aggregate principal
amount of the 7.00% Senior Notes and 8.25% Senior Notes and
two-thirds in aggregate principal amount of the 12.25% Senior
Notes within five (5) Business Days after delivery of the
Amendments; |
(5) | by the Debtors, pursuant to Section 10.1(b)(iii) of the Equity
Commitment Agreement if the conditions in Sections 8.1(h), (i), and (j) thereof
have not been satisfied and the outstanding items which are the cause of such
conditions to not be satisfied (i.e., any outstanding consents,
approvals, notifications, waiting period expirations, etc.) are also necessary
under applicable Law for the Debtors to consummate the Claims Conversion Sub
Plan; |
||
(6) | by the Debtors pursuant to Section 10.1(d)(ii) of the Equity
Commitment Agreement; or |
||
(7) | by Requisite Investors pursuant to Section 10.1(c)(ix) of the
Equity Commitment Agreement (any termination of the Equity Commitment |
14
Agreement described in this Section 7.1(e), a “Plan Support
Termination Event”); or |
|||
(f) | by Requisite Investors, upon three (3) Business Days’ written notice to the
Debtors if (i) the Bankruptcy Court shall determine not to approve the Rights Offering
Sub Plan solely on account of issues arising from a Management Agreement (as defined in
the Equity Commitment Agreement) or Exhibits G or L to the Equity Commitment Agreement
and (ii) the Debtors have not filed or delivered, as applicable, such amendments that
are reasonably acceptable to the Requisite Investors to any Management Agreement (as
defined in the Equity Commitment Agreement) or Exhibits G or L to the Equity Commitment
Agreement and/or Amended Plan as may be necessary to resolve all objections with
respect to issues arising from a Management Agreement (as defined in the Equity
Commitment Agreement) or Exhibits G or L to the Equity Commitment Agreement sustained
by the Bankruptcy Court within sixty (60) days following the Bankruptcy Court’s
determination not to approve the Rights Offering Sub Plan. |
The provisions of this Section 7.1 are intended solely for the
benefit of the Debtors
and the Consenting Senior Note Holders; provided, however, that a Consenting Senior
Note Holder or a Debtor may not seek to terminate this Agreement based upon a material breach or a
failure of a condition (if any) in this Agreement arising out of its own actions or omissions. The
Parties hereby waive any requirement under section 362 of the Bankruptcy Code to lift the automatic
stay thereunder (the “Automatic Stay”) in connection with giving any notice described in
this Section 7.1 (and agree not to object to any non-breaching Party seeking to lift the
Automatic Stay in connection with giving any such notice, if necessary). Any such termination (or
partial termination) of this Agreement shall not restrict the Parties’ rights and remedies for any
breach of this Agreement by any Party, including, but not limited to, the reservation of rights set
forth in Section 5 hereof, and the right of specific performance set forth in Section
8.8. For the avoidance of doubt, except as set forth in Section 7.1(e)(5) hereof, any
termination of the Equity Commitment Agreement by the Debtors pursuant to Section 10.1(b)(iii)
thereof shall not result in a right for any Party to terminate this Agreement.
If this Agreement is terminated or alleged to have been terminated pursuant
to Section
7.1(e) hereof, the Debtors shall have three (3) Business Days to provide notice (such notice,
the “Dispute Notice”) to the Requisite Investors of their intent to commence expedited
proceedings in the Bankruptcy Court to determine whether a Plan Support Termination Event has
occurred (the “Expedited Proceedings”). The Consenting Senior Note Holders hereby agree to
consent to the commencement of the Expedited Proceedings and this Agreement shall not be terminated
with respect to the Consenting Senior Note Holders pursuant to Section 7.1(e) hereof
unless and until (A) the Debtors fail to file a motion seeking to commence the Expedited
Proceedings within seven (7) Business Days after receipt of the Dispute Notice by counsel to the
Consenting Senior Note Holders, or (B) a Final Order has been entered determining that a Plan
Support Termination Event has occurred, provided that the Debtors shall not be permitted to
proceed with consummation of the Claims Conversion Sub Plan pending entry of such Final Order. For
the avoidance of doubt, this last paragraph of Section 7.1 shall survive any termination of
this Agreement.
15
7.2 Effects of Termination.
In the event this Agreement is terminated (or is terminated with respect to
any Party), the
Parties hereto (or the Parties with respect to which this Agreement has been terminated, as
applicable) shall not have any continuing liability or obligation under this Agreement and each
Party (or each Party with respect to which this Agreement has been terminated, as applicable) shall
have all the rights and remedies available to it under applicable law; provided,
however, that no such termination shall relieve any Party from liability for its breach or
non-performance of its obligations hereunder prior to the date of termination. Following any
termination of this Agreement (including a termination by a Consenting Senior Note Holder with
respect to such Consenting Senior Note Holder pursuant to Section 7.1(d) hereof), the
Debtors may proceed to seek confirmation of the Amended Plan and shall not be required to
re-solicit acceptances of the Amended Plan to the extent that any such solicitation has occurred;
provided that the Consenting Senior Note Holders shall be deemed to have voted to reject
the Claims Conversion Sub Plan for the purposes of confirmation of the Claims Conversion Sub Plan;
provided further, that to the extent that any Consenting Senior Note Holder has
terminated this Agreement with respect to itself pursuant to Section 7.1(d) hereof, such
Consenting Senior Note Holder shall be deemed to have voted to reject the Amended Plan without
regard to whether the Debtors seek confirmation of the Rights Offering Sub Plan or Claims
Conversion Sub Plan; provided further, that the Debtors shall adjourn the
Confirmation Hearing to the date that is thirty (30) days from the date that this Agreement has
been terminated (or the soonest date thereafter permitted by the Bankruptcy Court’s schedule), and,
during such period, the Consenting Senior Note Holders shall have the opportunity to prepare for
the Confirmation Hearing, including by taking discovery and filing pleadings and objections.
Section 8. Miscellaneous Terms.
8.1 Binding Obligation; Assignment.
(a) | Binding Obligation. Subject to the provisions of sections 1125 and 1126 of the
Bankruptcy Code, this Agreement is a legally valid and binding obligation of the
Parties and their respective members, officers, directors, agents, financial advisors,
attorneys, employees, partners, affiliates, successors, assigns, heirs, executors,
administrators, and representatives, other than a trustee or similar representative
appointed in the Chapter 11 Cases, enforceable in accordance with its terms, and shall
inure to the benefit of the Parties and their respective members, officers, directors,
agents, financial advisors, attorneys, employees, partners, affiliates, successors,
assigns, heirs, executors, administrators, and representatives. Nothing in this
Agreement, express or implied, shall give to any Entity, other than the Parties and
their respective members, officers, directors, agents, financial advisors, attorneys,
employees, partners, affiliates, successors, assigns, heirs, executors, administrators,
and representatives, any benefit or any legal or equitable right, remedy or claim under
this Agreement. The agreements, representations, warranties, covenants, and
obligations of each Consenting Senior Note Holder contained in this Agreement are, in
all respects, several, but not joint. |
16
(b) | Assignment. No rights or obligations of any Party under this Agreement may be
assigned or transferred to any other entity except as provided in Section 2.2
hereof. |
8.2 Further Assurances.
The Parties agree to execute and deliver such other instruments and perform
such acts, in
addition to the matters herein specified, as may be reasonably appropriate or necessary, from time
to time, to effectuate the agreements and understandings of the Parties, whether the same occurs
before or after the date of this Agreement.
8.3 Headings.
The headings of all sections of this Agreement are inserted solely for the
convenience of
reference and are not a part of and are not intended to govern, limit, or aid in the construction
or interpretation of any term or provision hereof.
8.4 Governing Law.
THIS AGREEMENT IS TO BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF
NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN SUCH STATE, WITHOUT GIVING EFFECT TO
THE CHOICE OF LAWS PRINCIPLES THEREOF.
Further, by its execution and delivery of this Agreement, each of the
Parties hereto hereby
irrevocably and unconditionally agrees that, the Bankruptcy Court shall have exclusive jurisdiction
of all matters arising out of or in connection with this Agreement.
8.5 Complete Agreement, Interpretation, Modification, and Conflicts.
(a) | Complete Agreement. This Agreement constitutes the complete agreement between
the Parties with respect to the subject matter hereof and supersedes all prior
agreements, oral or written, between or among the Parties with respect thereto. |
||
(b) | Interpretation. This Agreement is the product of negotiation by and among the
Parties. Any Party enforcing or interpreting this Agreement shall interpret it in a
neutral manner. There shall be no presumption concerning whether to interpret this
Agreement for or against any Party by reason of that Party having drafted this
Agreement, or any portion thereof, or caused it or any portion thereof to be drafted. |
||
(c) | Modification of Plan Support Agreement. This Agreement may only be modified,
altered, amended, or supplemented by an agreement in writing signed by the Debtors and
the Requisite Senior Note Holders; provided, however, that Section
7.1(d) hereof and this Section 8.5(c) shall not be amended without the
consent of each Consenting Senior Note Holder; provided further, that
any other provision hereof conferring rights upon an individual Consenting Senior Note |
17
Holder, or conditioning the obligations of any such Consenting Senior Note Holder
hereunder, by reference to Section 7.1(d) hereof shall not be amended
without the consent of each Consenting Senior Note Holder; and provided
further that Section 8.14 hereof (and this proviso of this
Section 8.5(c)) shall not be amended without the consent of each Consenting
Senior Note Holder which is a member of the Creditors’ Committee. |
|||
(d) | Modification of Amended Plan. Subject to the rights set forth in Section
7.1(d) hereof, the Amended Plan may only be modified, altered, amended or
supplemented as set forth in the Equity Commitment Agreement. |
||
(e) | Conflicts. To the extent there is any conflict between the terms of this
Agreement and the terms of the Equity Commitment Agreement, the rights of the Investors
under the Equity Commitment Agreement shall be governed by the Equity Commitment
Agreement in all respects. |
8.6 Calculation of Visteon Claims.
The Parties acknowledge and agree that on the effective date of the Amended
Plan, the 7.00%
Senior Notes Claims, 8.25% Senior Notes Claims, and 12.25% Senior Notes Claims shall be Allowed in
the aggregate amount of $456.82 million, $211.41 million, and $202.36 million, respectively.
8.7 Execution and Binding Obligations of this Agreement.
This Agreement may be executed and delivered (by facsimile or otherwise) in
any number of
counterparts, each of which, when executed and delivered, shall be deemed an original and all of
which together shall constitute the same agreement. Except as expressly provided in this
Agreement, each individual executing this Agreement on behalf of a Party has been duly authorized
and empowered to execute and deliver this Agreement on behalf of said Party.
This Agreement will become binding and effective on the Parties upon its
execution by (a) the
Debtors, (b) holders of 7.00% Senior Notes and 8.25% Senior Notes holding at least two-thirds in
amount of the aggregate amount of the 7.00% Senior Notes and 8.25% Senior Notes; and (c) holders of
12.25% Senior Notes holding at least two-thirds in amount of the aggregate amount of the 12.25%
Senior Notes; provided that the Debtors’ obligations hereunder shall be subject to entry of the
Plan Support Agreement Approval Order.
8.8 Specific Performance.
If a Party breaches any obligation, term, or provision of this Agreement,
such Party shall not
be liable for money damages. This Agreement, including, without limitation, the Parties’
respective obligations to vote for and support the Amended Plan as provided herein, and to
facilitate its confirmation and consummation as provided herein, is intended as a binding
commitment enforceable in accordance with its terms. It is understood and agreed by each of the
Parties hereto that money damages would not be a sufficient remedy for any breach of this Agreement
by any Party (and in any event is not a remedy available under this Agreement), and
18
each non-breaching Party (as applicable) shall (a) subject to prior approval of the
Disclosure
Statement pursuant to section 1125 of the Bankruptcy Code, with respect to voting for the Amended
Plan as provided herein, and (b) with respect to all other obligations contained herein, in each
case, be entitled solely to specific performance and injunctive or other equitable relief as a
remedy for any such breach.
8.9 Settlement Discussions.
This Agreement and the Restructuring are part of a proposed settlement among
the Parties with
respect to the Relevant Claims and Relevant Interests. Nothing herein shall be deemed an admission
of any kind. To the extent provided by Federal Rule of Evidence 408 and any applicable state rules
of evidence, this Agreement and all negotiations relating thereto shall not be admissible into
evidence in any proceeding other than a proceeding to enforce the terms of this Agreement.
8.10 Consideration.
The Debtors and each Consenting Senior Note Holder hereby acknowledge that
no consideration,
other than that specifically described herein and in the Amended Plan shall be due or paid to the
Consenting Senior Note Holders for their agreement to support confirmation of the Amended Plan in
accordance with the terms and conditions of this Agreement, other than the Debtors’ agreement to
use commercially reasonable efforts to obtain approval of the Disclosure Statement and to seek
confirmation of the Amended Plan in accordance with the terms and conditions of the Amended Plan.
8.11 Notices.
All notices hereunder shall be deemed given if in writing and hand-delivered
or sent by
courier, by registered or certified mail (return receipt requested), or by electronic mail to the
following addresses (or at such other addresses as shall be specified by like notice):
(a) | if to the Debtors, to: Visteon Corporation, Xxx Xxxxxxx Xxxxxx Xxxxx, Xxx Xxxxx
Xxxxxxxx, Xxxxxxxx 00000; Attn.: Xxxxxxx X. Xxxxxxx (xxxxxxxx@xxxxxxx.xxx); with copies
to: (i) Xxxxxxxx & Xxxxx, LLP, 000 Xxxxxxxxx Xxxxxx, Xxx Xxxx, XX 00000-0000, Attn.:
Xxxx Xxxxxxxxxxx, P.C (xxxx.xxxxxxxxxxx@xxxxxxxx.xxx) and Xxxxx X. Xxxxxx
(xxxxx.xxxxxx@xxxxxxxx.xxx) and (ii) Xxxxxxxx & Xxxxx, LLP, 000 Xxxxx XxXxxxx, Xxxxxxx,
XX 00000; Attn: Xxxxx X. Xxxxx Xx. (xxxxx.xxxxx@xxxxxxxx.xxx); and |
||
(b) | if to a Consenting Senior Note Holder, including a transferee thereof, to:
(i) White & Case LLP, Wachovia Financial Center, 000 Xxxxx Xxxxxxxx Xxxxxxxxx, Xxxxx
0000, Xxxxx, Xxxxxxx 00000, Attn.: Xxxxxx X. Xxxxxx (xxxxxxx@xxxxx.xxxxxxxxx.xxx),
(ii) White & Case LLP, 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attn.:
Xxxxxx Xxxx (xxxxx@xx.xxxxxxxxx.xxx) and Xxxxxxx Xxxxx (xxxxxx@xx.xxxxxxxxx.xxx),
and (iii) Xxxx Xxxx Xxxxxxx Xxxxx & Xxxx LLP, One Bryant Park, New York, New York
10036, Attn.: Xxxxxxx Xxxxxx (xxxxxxx@xxxxxxxx.xxx) and Xxxx Xxxxx
(xxxxxx@xxxxxxxx.xxx). |
19
Any notice given by hand-delivery, courier, mail, or electronic mail shall
be effective when
received.
8.12 Third Party Beneficiaries.
This Agreement is intended for the benefit of the Parties hereto and no
xxxxx person shall
have any right hereunder.
8.13 Relationship Among the Parties.
It is understood and agreed that no Consenting Senior Note Holder has any
duty of trust or
confidence with any other Consenting Senior Note Holder and there are no commitments arising among
or between the Consenting Senior Note Holders except as expressly provided herein.
8.14 Committee Membership.
Notwithstanding anything to the contrary herein, nothing in this Agreement
shall, or shall be
deemed to, prevent or limit any Consenting Senior Note Holder (or any of its members, officers,
directors, agents, financial advisors, attorneys, employees, partners, affiliates, successors,
assigns, or representatives) from taking any action or refraining from taking any action to
exercise its (or their) fiduciary duties in its capacity as a member of the Creditors’ Committee.
* * * * *
*
20
EXECUTION COPY
IN WITNESS WHEREOF, the Parties have entered into this Agreement on the day
and year first
above written.
VISTEON CORPORATION (on behalf of itself and its Debtor affiliates) |
||||
By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Its: | Vice President and General Counsel | |||
Signature Page to Plan Support Agreement
Dated: May 6, 2010
CONSENTING SENIOR NOTE HOLDER | ||||
Name of Institution: | CQS Directional Opportunities Master Fund Limited |
By: /s/ Xxxxx Xxxxx
|
||||||
Name: | Xxxxx Xxxxx | |||||
Its: | Authorized Signatory | |||||
Telephone: | ||||||
Facsimile: | ||||||
Note: Financial Information to be provided on a confidential basis and to be redacted
in court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: May 6, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||||
Name of Institution: | Kivu Investment Fund Limited | |||||||||||
By: | /s/ Xxxxxx Xxxxxxxxx | |||||||||||
Name: | Xxxxxx Xxxxxxxxx | |||||||||||
Its: | Director | |||||||||||
Telephone: | 0 (000) 000-0000 | |||||||||||
Facsimile: | 0 (000) 000-0000 |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: May 6, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||||
Name of Institution: | DEUTSCHE BANK SECURITIES INC. (Solely with respect to the Distressed Products Group) | |||||||||||
By: | /s/ Xxxxx X. Xxxxxx | |||||||||||
Name: | Xxxxx X. Xxxxxx | |||||||||||
Its: | Managing Director | |||||||||||
By: | /s/ Xxxxxxx X. Xxxxxxxx | |||||||||||
Name: | Xxxxxxx X. Xxxxxxxx | |||||||||||
Its: | Managing Director | |||||||||||
Telephone: | 000-000-0000 |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: May 6, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||
Name of Institution: Xxxxxxx International, L.P. | ||||||||||
By: | Xxxxxxx International Capital Advisors Inc., as Attorney-in-Fact | |||||||||
By: | /s/ Xxxxxx Xxxxxx | |||||||||
Name: | Xxxxxx Xxxxxx | |||||||||
Its: | Vice President | |||||||||
Telephone: | 000 000-0000 | |||||||||
Facsimile: | 000 000-0000 |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: May 6, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||||
Name of Institution: | The Liverpool Limited Partnership | |||||||||||
By: | The Liverpool Associates Ltd., as General Partner | |||||||||||
By: | /s/ Xxxxxx Xxxxxx | |||||||||||
Name: | Xxxxxx Xxxxxx | |||||||||||
Its: | Vice President | |||||||||||
Telephone: | 000 000-0000 | |||||||||||
Facsimile: | 000 000-0000 |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: May 6, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||||
Name of Institution: | Xxxxxxx, Xxxxx & Co. (Solely with respect to the High Yield Distressed Investing Group) | |||||||||||
By: | /s/ Xxxxxx Xxxxxx | |||||||||||
Name: | Xxxxxx Xxxxxx | |||||||||||
Its: | Managing Director | |||||||||||
Telephone: | 000-000-0000 | |||||||||||
Facsimile: | 000-000-0000 |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: May 6, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||||
Name of Institution: | Monarch Alternative Capital LP (held thru DTC 0005 Goldman) | |||||||||||
By: | /s/ Xxxxxxxxxxx Xxxxxxx | |||||||||||
Name: | Xxxxxxxxxxx Xxxxxxx | |||||||||||
Its: | Managing Principal | |||||||||||
Telephone: | 000 000 0000 | |||||||||||
Facsimile: | 000 000 0000 |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: May 6, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||||
Name of Institution: | OAK HILL ADVISORS, L.P., on behalf of certain private funds and separate accounts that it manages | |||||||||||
By: | /s/ Xxxxx X. Xxxxx | |||||||||||
Name: | Xxxxx X. Xxxxx | |||||||||||
Its: | Authorized Person | |||||||||||
Telephone: | 000-000-0000 | |||||||||||
Facsimile: | 000-000-0000 |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: May 6, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||||
Name of Institution: | SOLA LTD | |||||||||||
By: | /s/ Xxxxx Xxxxxxx | |||||||||||
Name: | Xxxxx Xxxxxxx | |||||||||||
Its: | Director | |||||||||||
Telephone: | 000-000-0000 (Xxxx Xxxxxxx) | |||||||||||
Facsimile: | 000-000-0000 |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: ____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||||
Name of Institution: | Alden Global Distressed Opportunities Fund, L.P. | |||||||||||
By: | Alden Global Distressed Opportunities Fund GP, LLC | |||||||||||
By: | /s/ Xxx Xxxxx | |||||||||||
Name: | Xxx Xxxxx | |||||||||||
Its: | Vice President | |||||||||||
Telephone: | 000.000.0000 | |||||||||||
Facsimile: | 212.702.0145 | |||||||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature
Page to Plan Support Agreement
Dated:
____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||
Name of Institution: NewFinance Alden SPV | ||||||||
By: | Alden Global Capital, its Trading Advisor | |||||||
By: | /s/ Xxx Xxxxx | |||||||
Name: | Xxx Xxxxx | |||||||
Its: | Vice President | |||||||
Telephone: | 000.000.0000 | |||||||
Facsimile: | 212.702.0145 | |||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: Xxxxx Arbitrage LP | ||||||
By: | /s/ Tal Gurion | |||||
Name: | Xxx Xxxxxx | |||||
Its: | Managing Director of Investment Manager | |||||
Telephone: | 000-000-0000 | |||||
Facsimile: | 000-000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: Xxxxx Xxxxxxxxx Offshore | ||||||
By: | /s/ Tal Gurion | |||||
Name: | Xxx Xxxxxx | |||||
Its: | Managing Director of Investment Manager | |||||
Telephone: | 000-000-0000 | |||||
Facsimile: | 000-000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||
Name of Institution: | Armory Advisors, LLC, Investment Manager of Armory Master Fund Ltd. and Separately Managed Accounts |
|||||||
By: | /s/ Xxx Xxxxxxx | |||||||
Name: | Xxx Xxxxxxx | |||||||
Its: | Manager | |||||||
Telephone: | 000.000.0000 | |||||||
Facsimile: | 000.000.0000 | |||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated:
_____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: | CAPITAL VENTURES INTERNATIONAL | |||||
By: | Susquehanna Advisors Group, Inc., its authorized agent | |||||
By: | /s/ Xxxx Xxxxxxxxx | |||||
Name: | Xxxx Xxxxxxxxx | |||||
Its: | Vice President | |||||
Telephone: | 000-000-0000 | |||||
Facsimile: | 610-147-2081 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: | CASPIAN CAPITAL PARTNERS, L.P. | |||||
By: | /s/ Xxxxx Xxxxxxx | |||||
Name: | Xxxxx Xxxxxxx | |||||
Its: | Principal | |||||
Telephone: | ||||||
Facsimile: | 000-000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: | CASPIAN SELECT CREDIT MASTER FUND, LTD. | |||||
By: | /s/ Tal Gurion | |||||
Name: | Xxx Xxxxxx | |||||
Its: | Managing Director of Investment Manager | |||||
Telephone: | 000-000-0000 | |||||
Facsimile: | 000-000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: Citadel Securities LLC | ||||||
By: | /s/ Xxxx Xxxxxxxx | |||||
Name: | Xxxx Xxxxxxxx | |||||
Its: | Authorized Signatory | |||||
Telephone: | (000) 000-0000 | |||||
Facsimile: | (000) 000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: CSS, LLC | ||||||
By: | /s/ Xxxxx Xxxxx | |||||
Name: | Xxxxx Xxxxx | |||||
Its: | Partner | |||||
Telephone: | 000 000 0000 | |||||
Facsimile: | 000 000 0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: Cumberland Associates LLC | ||||||
By: | /s/ Xxxxx Xxxxx | |||||
Name: | Xxxxx Xxxxx | |||||
Its: | Member | |||||
Telephone: | 000-000-0000 | |||||
Facsimile: | 000-000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: _____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: Cyrus Europe Master Fund, Ltd. | ||||||
By: | /s/ Xxxxx X. Xxxxxx | |||||
Name: | Xxxxx X. Xxxxxx | |||||
Its: | Chief Operating Officer | |||||
Telephone: | (000) 000-0000 | |||||
Facsimile: | (000) 000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: _____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: Cyrus Select Opportunities Master Fund, Ltd. | ||||||
By: | /s/ Xxxxx X. Xxxxxx | |||||
Name: | Xxxxx X. Xxxxxx | |||||
Its: | Chief Operating Officer | |||||
Telephone: | (000) 000-0000 | |||||
Facsimile: | (000) 000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: _____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: Crescent 1, L.P. | ||||||
By: | /s/ Xxxxx X. Xxxxxx | |||||
Name: | Xxxxx X. Xxxxxx | |||||
Its: | Chief Operating Officer | |||||
Telephone: | (000) 000-0000 | |||||
Facsimile: | (000) 000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: _____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: CRS Fund, Ltd. | ||||||
By: | /s/ Xxxxx X. Xxxxxx | |||||
Name: | Xxxxx X. Xxxxxx | |||||
Its: | Chief Operating Officer | |||||
Telephone: | (000) 000-0000 | |||||
Facsimile: | (000) 000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: _____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: Cyrus Opportunities Master Fund II, Ltd. | ||||||
By: | /s/ Xxxxx X. Xxxxxx | |||||
Name: | Xxxxx X. Xxxxxx | |||||
Its: | Chief Operating Officer | |||||
Telephone: | (000) 000-0000 | |||||
Facsimile: | (000) 000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: Halbis Distressed Opportunities Master Fund Ltd. | ||||||
By: | /s/ Xxxxx Xxxxx | |||||
Name: | Xxxxx Xxxxx | |||||
Its: | VP | |||||
Telephone: | 000-000-0000 | |||||
Facsimile: | 000-000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: MARINER LDC | ||||||
By: | /s/ Xxxxx Xxxxxxx | |||||
Name: | Xxxxx Xxxxxxx | |||||
Its: | Principal | |||||
Telephone: | ||||||
Facsimile: | 000-000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||
Name of Institution: MARINER LDC | ||||||||||
By: | /s/ Xxxxxxx Xxxxxx | |||||||||
Name: | Xxxxxxx Xxxxxx | |||||||||
Its: | Managing Member of Investment Manager | |||||||||
Telephone: | 000-000-0000 | |||||||||
Facsimile: | 000-000-0000 | |||||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: _____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||||
Name of Institution: | Merced Partners Limited Partnership |
|||||||||||
By: | /s/ Xxxxxx X. Xxxx | |||||||||||
Name: | Xxxxxx X. Xxxx | |||||||||||
Its: | Authorized Representative | |||||||||||
Telephone: | 000-000-0000 | |||||||||||
Facsimile: | 000-000-0000 | |||||||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: _____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||
Name of Institution: Merced Partners II, L.P. | ||||||||||
By: | /s/ Xxxxxx X. Xxxx | |||||||||
Name: | Xxxxxx X. Xxxx | |||||||||
Its: | Authorized Representative | |||||||||
Telephone: | 000-000-0000 | |||||||||
Facsimile: | 000-000-0000 | |||||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: _____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||
Name of Institution: QVT Fund LP | ||||||||||
By: | QVT Associates GP, LLC, its general partner | |||||||||
By: | /s/ Xxxx Xxxxxx | |||||||||
Name: | Xxxx Xxxxxx | |||||||||
Its: | Managing Member | |||||||||
Telephone: | 000 000 0000 | |||||||||
Facsimile: | 000 000 0000 | |||||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: _____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||
Name of Institution: Quintessence Fund L.P. | ||||||||||
By: | QVT Associates GP LLC, its general partner | |||||||||
By: | /s/ Xxxx Xxxxxx | |||||||||
Name: | Xxxx Xxxxxx | |||||||||
Its: | Managing Member | |||||||||
Telephone: | 000 000 0000 | |||||||||
Facsimile: | 000 000 0000 | |||||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||||
Name of Institution: | Riva Ridge Master Fund, Ltd. | |||||||||||
By: | /s/ Xxxxxxx Xxxxxx | |||||||||||
Name: | Xxxxxxx Xxxxxx | |||||||||||
Its: | Managing Member of Investment Manager | |||||||||||
Telephone: | 000-000-0000 | |||||||||||
Facsimile: | 000-000-0000 | |||||||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: _____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||||
Name of Institution: | Seneca Capital LP and Seneca Capital International Ltd. | |||||||||||
By: | /s/ Xxxxxxx Xxxxxxxxx | |||||||||||
Name: | Xxxxxxx Xxxxxxxxx | |||||||||||
Its: | CFO, Seneca Capital Investments, LP | |||||||||||
Telephone: | 000-000-0000 | |||||||||||
Facsimile: | 212-826-1108 | |||||||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||||
Name of Institution: | Silver Point Capital, L.P. on behalf of its affiliates and related funds | |||||||||||
By: | /s/ Xxxxxxx Xxxxx | |||||||||||
Name: | Xxxxxxx Xxxxx | |||||||||||
Its: | Authorized Person | |||||||||||
Telephone: | (000) 000-0000 | |||||||||||
Facsimile: | (000) 000-0000 | |||||||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: May 3, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||||
Name of Institution: | Spectrum Investment Partners L.P. | |||||||||||
By: | Spectrum Group Management LLC | |||||||||||
By: | /s/ Xxxxxxx X. Xxxxxxxx | |||||||||||
Name: | Xxxxxxx X. Xxxxxxxx | |||||||||||
Its: | Managing Member | |||||||||||
Telephone: | (000) 000-0000 | |||||||||||
Facsimile: | (000) 000-0000 | |||||||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: May 3, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||||||
Name of Institution: SIPI MASTER LTD. | ||||||||||
By: | /s/ Xxxxxxx X. Xxxxxxxx | |||||||||
Name: | Xxxxxxx X. Xxxxxxxx | |||||||||
Its: | Managing Member | |||||||||
Telephone: | (000) 000-0000 | |||||||||
Facsimile: | (000) 000-0000 | |||||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated:
_____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: Xxxxx Criterion Master Fund Ltd. | ||||||
By: | Xxxxx Criterion Management LLC, its Investment Manager | |||||
By: | /s/ Xxxxxx X. Xxxxx | |||||
Name: | Xxxxxx X. Xxxxx | |||||
Its: | Authorized Signatory | |||||
Telephone: | x0 (000) 000-0000 | |||||
Facsimile: | x0 (000) 000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated:
_____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: Xxxxx Master Fund Ltd. | ||||||
By: | Xxxxx Offshore Management LLC, its Investment Manager | |||||
By: | /s/ Xxxxxx X. Xxxxx | |||||
Name: | Xxxxxx X. Xxxxx | |||||
Its: | Authorized Signatory | |||||
Telephone: | x0 (000) 000-0000 | |||||
Facsimile: | x0 (000) 000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: | UBS Securities (solely with respect to the Distressed Debt Trading Group) |
By: | /s/ Xxxxxx X. Xxxxxxx | /s/ Xxxx Xxxxx | |||||
Name: Xxxxxx X. Xxxxxxx | / | Xxxx Xxxxx | |||||
Its: Managing Director | / | MD | |||||
Telephone: 000-000-0000 | |||||||
Facsimile: | |||||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | |||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: May 3, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: VENOR CAPITAL MASTER FUND, LTD. | ||||||
By: | /s/ Xxxxxxx Xxxxxxx | |||||
Name: | Xxxxxxx Xxxxxxx | |||||
Its: | Authorized Signatory | |||||
Telephone: | 000-000-0000 | |||||
Facsimile: | 000-000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated:
_____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: | Whitebox Hedged High Yield Partners, L.P. | |||||
By: | /s/ Xxxxxxxx Xxxx | |||||
Name: | Xxxxxxxx Xxxx | |||||
Its: | COO / CFO | |||||
Telephone: | 000-000-0000 | |||||
Facsimile: | 000-000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated:
_____________, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: Whitebox Combined Partners, LP | ||||||
By: | /s/ Xxxxxxxx Xxxx | |||||
Name: | Xxxxxxxx Xxxx | |||||
Its: | COO / CFO | |||||
Telephone: | 000-000-0000 | |||||
Facsimile: | 000-000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: April 30, 2010
CONSENTING SENIOR NOTE HOLDER | ||||||
Name of Institution: | Brencourt Credit Opportunities Master, Ltd. | |||||
By: | /s/ Xxxxxx Xxxxxx | |||||
Name: | Xxxxxx Xxxxxx | |||||
Its: | Authorized Signatory | |||||
Telephone: | 000-000-0000 | |||||
Facsimile: | 000-000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
Dated: May 5, 2010
CONSENTING SENIOR NOTE HOLDER1 | ||||||
Name of Institution: Advent Capital Management, LLC | ||||||
By: | /s/ Xxxxxx Xxxxx | |||||
Name: | Xxxxxx Xxxxx | |||||
Its: | Managing Director | |||||
Telephone: | 000-000-0000 | |||||
Facsimile: | 000-000-0000 | |||||
Aggregate outstanding principal amount of Senior Notes Claims that are Relevant Claims: | ||||||
Description and amount of each additional Claim or Equity Interest that is a Relevant Claim or Relevant Interest other than Senior Notes Claims: |
Note: Financial Information to be provided on a confidential basis and to be redacted in
court filings and to the extent not redacted, filed under seal.
Signature Page to Plan Support Agreement
1 | Notwithstanding the various provisions in this Agreement that indicate that the terms of the
Agreement will cover current and future holdings, the Parties to the Agreement agree and understand that the
above-signed Consenting Senior Note Holder is only agreeing to execute this Agreement with respect to the
holdings listed hereto, and may hold other Claims and Interests which are not and will not be subject to the provisions of
this Agreement. |