Acceptable Chapter 11 Plan definition

Acceptable Chapter 11 Plan means either: (i) the Debtors’ Modified Joint Chapter 11 Plan, dated November 10, 2016 [Docket No. 906] (as may be amended from time to time in accordance with the terms thereof), which contemplates that Debtors and Buyer shall seek to consummate the Sale Transaction on the effective date of such chapter 11 plan, which chapter 11 plan shall in form and substance be acceptable to Debtors, Buyer and the Senior Secured Lender in their respective sole discretion; or (ii) any other plan pursuant to chapter 11 of the Bankruptcy Code that is consistent with this Agreement and otherwise acceptable in all respects to Debtors, Buyer and the Senior Secured Lender, in their respective sole discretion.
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Acceptable Chapter 11 Plan a plan of reorganization for each of the Debtors in the Chapter 11 Cases (including all related schedules, supplements, exhibits and orders, as applicable) on terms that provides for the Full Payment (or such other treatment acceptable to the Administrative Agent and the Required Lenders in their sole discretion) of all Obligations outstanding pursuant to this Agreement on the Chapter 11 Plan Effective Date.
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Acceptable Chapter 11 Plan means a Chapter 11 Plan (which Chapter 11 Plan may include a sale of all or substantially all of the Borrowers’ assets) that, subject to the SAPSA, (a)(i) provides for the termination of the Commitments and (A) to the extent not otherwise previously paid in full in cash, the payment in full in cash of the Obligations on account of the New Money Loans under the Loan Documents (other than contingent indemnification obligations as to which no claim has been asserted), and (B) the payment of the Obligations on account of the Roll-Up Loans in accordance with the terms of the SAPSA, each of (A) and (B) on the Consummation Date of such Chapter 11 Plan, and (ii) provides for releases of the Released Parties from any and all claims against Agents, the Lenders, the Existing Trustees and the Existing Noteholders in connection with or related to this Agreement to the fullest extent permitted by the Bankruptcy Code and applicable law or (b) is otherwise acceptable to the Required Lenders in its/their reasonable discretion; provided, that, in no event shall a Chapter 11 Plan that is a Prohibited Plan or Sale constitute an “Acceptable Chapter 11 Plan”.
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Examples of Acceptable Chapter 11 Plan in a sentence

  • Not later than 90 days following the Petition Date, the Bankruptcy Court shall enter an order approving a disclosure statement with respect to an Acceptable Chapter 11 Plan.

  • Pursue or support the confirmation of any Chapter 11 Plan proposed for any Borrower in the Chapter 11 Cases other than an Acceptable Chapter 11 Plan.


More Definitions of Acceptable Chapter 11 Plan

Acceptable Chapter 11 Plan a plan of reorganization for each of the Debtors in the Chapter 11 Cases (including all related schedules, supplements, exhibits and orders, as applicable), which shall be consistent with the terms and provisions set forth in the Restructuring Support Agreement, and otherwise on terms (and consummated pursuant to an agreement in form and substance) reasonably acceptable to the Required Lenders, and confirmed by an order of the Bankruptcy Court that is consistent with the terms and provisions set forth in the Restructuring Support Agreement, and otherwise on terms (and consummated pursuant to an agreement in form and substance) in form and substance reasonably acceptable to the Required Lenders.
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Acceptable Chapter 11 Plan means a Chapter 11 Plan that is in form and substance reasonably acceptable to the Agents, the Issuing Bank and the Required Lenders; provided, that any such plan provides for, among other things, releases of (and indemnity for) any and all claims any Loan Party has or may have against the Agents, the Issuing Bank, the Lenders, the administrative and collateral agents under the Prepetition First-Lien Credit Agreement or the Prepetition First-Lien Credit Agreement Lenders and the termination of the Commitments and the payment in full in cash of the Obligations outstanding under the Loan Documents and Cash Collateralization of each Letter of Credit in an amount not less than the Minimum Collateral Amount, on the Plan Effective Date of such Chapter 11 Plan.
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Acceptable Chapter 11 Plan shall have the meaning ascribed to such term in Section 5.14(c).
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Acceptable Chapter 11 Plan means a Chapter 11 Plan, unless consented to by Agent and Lenders in their discretion, that does not discharge or otherwise affect in any way any of the obligations of Borrowers to pay as and when due any of the Obligations and that provides for allowance of all Claims in favor of the Lender Parties as fully secured administrative priority Claims; Full Payment of all Pre-Petition Obligations and Obligations on the effective date of such Chapter 11 Plan; an effective date no later than 45 days after the date of entry of the Confirmation Order with respect to such Chapter 11 Plan; and a full and complete release of any and all Claims that each Borrower or its Estate might have or assert against any Lender Parties or any Pre-Petition Lender Parties (whether arising prior to or after the Petition Date), including all Claims that arise under any provision in Chapter 5 of the Bankruptcy Code; and which is otherwise acceptable to Agent and Lenders in their discretion.
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Related to Acceptable Chapter 11 Plan

  • Chapter 11 Plan means a plan of reorganization or liquidation filed in any of the Chapter 11 Cases under Section 1121 of the Bankruptcy Code.

  • Reorganization Plan means a plan of reorganization in any of the Cases.

  • Plan of Reorganization means any plan of reorganization, plan of liquidation, agreement for composition, or other type of plan of arrangement proposed in or in connection with any Insolvency or Liquidation Proceeding.

  • Disclosure Statement Approval Order means the Final Order approving, among other things, the adequacy of the Disclosure Statement pursuant to section 1125 of the Bankruptcy Code.

  • Alternative Restructuring Proposal means any inquiry, proposal, offer, bid, term sheet, discussion, or agreement with respect to a sale, disposition, new-money investment, restructuring, reorganization, merger, amalgamation, acquisition, consolidation, dissolution, debt investment, equity investment, liquidation, tender offer, recapitalization, plan of reorganization, share exchange, business combination, or similar transaction involving any one or more Company Parties or the debt, equity, or other interests in any one or more Company Parties that is an alternative to one or more of the Restructuring Transactions.

  • Alternative Acquisition Agreement shall have the meaning set forth in Section 6.5(c).

  • Chapter 11 means Chapter 11 of the Bankruptcy Code.

  • Final Order means, as applicable, an order or judgment of the Bankruptcy Court or other court of competent jurisdiction with respect to the relevant subject matter that has not been reversed, stayed, modified, or amended, and as to which the time to appeal or seek certiorari has expired and no appeal or petition for certiorari has been timely taken, or as to which any appeal that has been taken or any petition for certiorari that has been or may be filed has been resolved by the highest court to which the order or judgment could be appealed or from which certiorari could be sought or the new trial, reargument, or rehearing shall have been denied, resulted in no modification of such order, or has otherwise been dismissed with prejudice.

  • Administrative merits determination means certain notices or findings of labor law violations issued by an enforcement agency following an investigation. An administrative merits determination may be final or be subject to appeal or further review. To determine whether a particular notice or finding is covered by this definition, it is necessary to consult section II.B. in the DOL Guidance.

  • Steps Plan means a plan evidenced by Eligible Information contemplating that there will be a series of successions to some or all of the Relevant Obligations of the Reference Entity, by one or more entities.

  • alternative plan means a group RRSP, including the BCTF Plan, which was entered into prior to the coming into force of this Article, and which is still in effect as of that date.

  • Alternative program means a non-disciplinary monitoring or practice remediation process approved by a physical therapy licensing board. This includes, but is not limited to, substance abuse issues.

  • Independent living arrangement means placement of (i) a child at least 16 years of age who is in

  • CCAA means the Companies’ Creditors Arrangement Act (Canada).

  • Sponsor Management Agreement means the Management Agreement between certain of the management companies associated with the Sponsors and the Borrower.

  • Exit Facility Term Sheet means the Exit Facility Term Sheet attached as Exhibit 2 to Exhibit B of the Restructuring Support Agreement.

  • Ordinary Course Professional Order means the Order Authorizing the Retention and Compensation of Certain Professionals Utilized in the Ordinary Course of Business [D.I. 765].

  • Equity Commitment Letter has the meaning set forth in Section 3.4(a).

  • Company Acquisition Proposal means any offer, indication of interest or proposal (other than an offer or proposal made or submitted by or on behalf of Parent or any of its Subsidiaries) contemplating or otherwise relating to any Company Acquisition Transaction.

  • Approval Order means an order entered by the Bankruptcy Court, pursuant to Sections 363 and 365 of the Bankruptcy Code, authorizing and approving, among other things, (a) the sale of the Purchased Assets (b) the assumption of the Assumed Liabilities by Purchaser and (c) the assumption and assignment of the Purchased Contracts, in accordance with the terms and conditions of this Agreement, which will be in a form and substance reasonably acceptable to the Parties.

  • Bidder/Bidding Company means Bidding Company submitting the Bid. Any reference to the Bidder includes Bidding Company / including its successors, executors and permitted assigns as the context may require;

  • Ordinary Course Professionals Order means any order of the Bankruptcy Court permitting the Debtors to retain certain professionals in the ordinary course of their businesses.

  • Reinvestment Agreement means a guaranteed reinvestment agreement from a bank, insurance company or other corporation or entity, in each case, at the date of such acquisition having a credit rating of at least A-1 from S&P and at least P-1 from Moody’s; provided that such agreement provides that it is terminable by the purchaser, without penalty, if the rating assigned to such agreement by either S&P or Xxxxx’x is at any time lower than such ratings.

  • Company Acquisition Agreement has the meaning set forth in Section 5.04(a).

  • U.S. Bankruptcy Court means the United States Bankruptcy Court for the Southern District of New York.

  • Bankruptcy Court has the meaning set forth in the Recitals.