Acceptable Plan means a Reorganization Plan that provides for the termination of the Commitments and the Payment in Full of the Obligations (other than contingent indemnification obligations not yet due and payable) on the Plan Effective Date of such Reorganization Plan or is otherwise acceptable to Non-Defaulting Lenders having or holding at least two-thirds of the sum of (i) the Available Term Loan Commitments and (ii) outstanding principal amount of the Term Loans (excluding Term Loans held by Defaulting Lenders).
Acceptable Plan means a Plan of Reorganization that is consistent with the RSA and otherwise satisfactory to the Required Lenders and the Loan Parties in their reasonable discretion (as the same may be amended, supplemented, or modified from time to time after entry thereof in accordance with the terms thereof); it being agreed that the Plan (as defined in the RSA) is an “Acceptable Plan” to the Required Lenders.
Acceptable Plan means a plan of reorganization for each of the Cases that provides for the termination of the unused commitments, the payment in full in cash (or, in the case of any outstanding Letters of Credit, cash collateralization in accordance with the terms hereof) of the Obligations on the effective date of such plan of reorganization and for which the Borrower shall use commercially reasonable efforts to provide customary releases in favor of the Administrative Agent and the Lenders.
Examples of Acceptable Plan in a sentence
This Support Agreement is not, and shall not be deemed to be, a solicitation of votes for the acceptance of the Acceptable Plan or any plan of reorganization for the purposes of Sections 1125 and 1126 of the Bankruptcy Code or otherwise.
Overview of the Restructuring: The Debtor will implement the Restructuring pursuant to the Acceptable Plan.
These fees may differ from a repair station to another and will be made available upon request.
The Debtor shall use commercially reasonable efforts to obtain confirmation of the Acceptable Plan in accordance with the Bankruptcy Code and on terms consistent with this Agreement, and each Consenting Noteholder shall use its commercially reasonable efforts to cooperate fully in connection therewith.
If (x) any Loan Party files a motion in the Cases seeking approval of a Disclosure Statement or a Plan of Reorganization, or the entry of an order confirming a Plan of Reorganization, and (y) such Plan of Reorganization is not an Acceptable Plan of Reorganization.
More Definitions of Acceptable Plan
Acceptable Plan means the “Plan” under and as defined in the Plan Support Agreement.
Acceptable Plan means any plan of reorganization or plan of liquidation for each of the Cases, (a) the provisions of which are consistent with the provisions of the Post-Petition Intercreditor Arrangements and is in form and substance satisfactory to the Required Lenders or (b) which provides (i) for Payment in Full of the Obligations upon confirmation or effectiveness of such plan and (ii) market standard exculpations, indemnities and releases in favor of the Agents, the Lenders, the L/C Issuers and their Related Parties.
Acceptable Plan means a Chapter 11 Plan that (a) provides for the termination of the unused commitments under the DIP Facility and the Payment in Full of the Indebtedness (and, as applicable, cash collateralization of any issued and undrawn Letters of Credit (or other arrangements satisfactory to the Issuing Bank and the Administrative Agent)) upon the effective date of such plan, (b) provides that the effective date of such plan shall occur by a date that is within the applicable Case Milestones, (c) contains customary releases and other exculpatory provisions for the benefit of the Administrative Agent, the Lenders, the Pre-Petition Agent, the Pre-Petition Issuing Bank and the Pre-Petition Lenders, (d) shall be in full force and effect, (e) with respect to foregoing clauses (a) through (d), shall not have been modified, altered, amended or otherwise changed or supplemented without the prior written consent of the Administrative Agent and the Pre-Petition Agent and (f) is otherwise in form and substance reasonably satisfactory to the Administrative Agent and the Pre-Petition Agent (it being understood and agreed that the Chapter 11 Plan of the Borrower and its Affiliates filed with the Bankruptcy Court as of September 30, 2020 is satisfactory to the Administrative Agent and the Pre-Petition Agent and meets the requirements of clauses (a) through (d) and clause (f) of this definition).
Acceptable Plan means a plan of reorganization for each of the Cases, in form and substance acceptable to the Required Lenders and the Administrative Agent, that, among other things, (i) provides for the termination of the Commitments and the indefeasible payment in full and full discharge of the Loan Obligations (other than contingent indemnification obligations not yet due) upon the effective date of such plan of reorganization, (ii) provides that the effective date of such plan shall occur by a date that is within the applicable Milestones, and (iii) provides for releases and other exculpatory provisions for the Administrative Agent, the Collateral Agent, the Lenders and the agents and lenders under the Pre-Petition Term Loan Credit Agreement and their respective Related Parties in form and substance satisfactory to the Required Lenders and the Required Lenders (as defined in the Pre-Petition Term Loan Credit Agreement).
Acceptable Plan shall have the meaning set forth in Section 5.02 of this Agreement.
Acceptable Plan means a Chapter 11 Plan that provides for the termination of the unused commitments under the DIP Facility and the Payment in Full of the Indebtedness (and, as applicable, cash collateralization of any issued and undrawn Letters of Credit (or other arrangements satisfactory to the Issuing Bank and the Administrative Agent)) upon the effective date of such plan, provides that the effective date of such plan shall occur by a date that is within the applicable Case Milestones, contains customary releases and other exculpatory provisions for the benefit of the Administrative Agent, the Lenders, the Pre-Petition Agent, the Pre-Petition Issuing Bank and the Pre-Petition Lenders, shall be in full force and effect, with respect to foregoing clauses (a) through (d), shall not have been modified, altered, amended or otherwise changed or supplemented without the prior written consent of the Administrative Agent and the Pre-Petition Agent and (f) is otherwise in form and substance reasonably satisfactory to the Administrative Agent and the Pre-Petition Agent (it being understood and agreed that the Chapter 11 Plan of the Borrower and its Affiliates filed with the Bankruptcy Court as of September 30, 2020 is satisfactory to the Administrative Agent and the Pre-Petition Agent and meets the requirements of clauses (a) through (d) and clause (f) of this definition).
Acceptable Plan means a Chapter 11 Plan in form and substance satisfactory to the Administrative Agent and the Prepetition Administrative Agent that (i) provides for the