Acceptable Plan of Reorganization means a Reorganization Plan for each of the Cases that provides for the distribution of sale proceeds following an Acceptable Sale Transaction, if any, and the placement of all of the Debtors’ assets not sold pursuant to an Acceptable Sale Transaction into a liquidation trust for the benefit of creditors, in form and substance acceptable to the Administrative Agent (solely with respect to its own treatment) and the Required Lenders.
Acceptable Plan of Reorganization means a plan of reorganization that provides for the (i) termination of the New Money Commitments and (ii) payment of all the Obligations (other than contingent indemnification obligations for which no claims have been made) indefeasibly in full in cash on or before the effective date of such plan.
Acceptable Plan of Reorganization means a Plan of Reorganization that either(x) provides for the payment in full in cash of the Obligations under the Loan Documents upon the effective date of such Acceptable Plan of Reorganization or (y) provides that the Lender will voluntary credit bid all Obligations in connection with a transaction provided for in (and approved in connection with confirmation of) such Plan of Reorganization, and in either such case is otherwise reasonably acceptable to the Lender.
Examples of Acceptable Plan of Reorganization in a sentence
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.
Notwithstanding anything to the contrary in this Article VI, nothing in this Article VI shall prohibit the consummation of any of the transaction steps described in the Restructuring Steps Memorandum in accordance with the Acceptable Plan of Reorganization.
If the DIP Commitment Premium is payable pursuant to an Acceptable Plan of Reorganization, such DIP Commitment Premium shall be payable either in the form of cash or paid-in-kind and capitalized to the aggregate principal amount of the Term Loans (i.e., as additional Term Loans, which for the avoidance of doubt, shall not earn interest until issued in accordance with this clause (b)).
The aggregate amount of Takeback Debt (or third-party market financing raised in place of such Takeback Debt) issued pursuant to the Acceptable Plan of Reorganization shall not exceed $750,000,000.
Notwithstanding anything to the contrary in this Article VII, nothing in this Article VII shall prohibit the consummation of any of the transaction steps described in the Restructuring Steps Memorandum in accordance with the Acceptable Plan of Reorganization.
More Definitions of Acceptable Plan of Reorganization
Acceptable Plan of Reorganization means a plan of reorganization in form and substance reasonably acceptable to the Required Lenders (and, with respect to those provisions thereof that affect the rights, obligations, liabilities and duties of the Administrative Agent or the Collateral Agent, to the Administrative Agent or the Collateral Agent, as applicable) in all respects and consented to by the Required Lenders, confirmed by an order (in form and substance reasonably acceptable to the Required Lenders (and, with respect to those provisions thereof that affect the rights, obligations, liabilities and duties of the Administrative Agent or the Collateral Agent, to the Administrative Agent or the Collateral Agent, as applicable)) of the Bankruptcy Court under the Cases, (i) consistent with the terms and conditions as set forth in the RSA and the exhibits thereto, (ii) containing a release in favor of the Administrative Agent, the Collateral Agent and the Lenders and their respective Affiliates, (iii) containing provisions with respect to the settlement or discharge of all claims and other debts and liabilities of the Borrower, (iv) providing for the Payment in Full, including as a result of the DIP Debt Conversion on the Plan Effective Date (and subject to and consistent with the conditions set forth in the Exit Credit Agreements and the Acceptable Plan of Reorganization) or the satisfaction of the Obligations in full in cash and (v) such Acceptable Plan of Reorganization shall be in full force and effect, and shall not have been modified, altered, amended or otherwise changed or supplemented in any manner that, in whole or in part, is not consistent in all material respects with the RSA, and is not otherwise reasonably acceptable to the Required Lenders (and with respect to those provisions thereof that affect the rights, obligations, liabilities and duties of the Administrative Agent or the Collateral Agent, the Administrative Agent or the Collateral Agent). For the avoidance of doubt, the Joint Prepackaged Plan of Reorganization of VIP Cinema Holdings, Inc. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code, filed on February 18, 2020, shall be deemed an “Acceptable Plan of Reorganization.”
Acceptable Plan of Reorganization means a chapter 11 plan of reorganization, which shall (a) be consistent in all material respects with the Exit Facility Term Sheet and give effect to the transactions contemplated by the Exit Facility Term Sheet or (b) otherwise be in form and substance reasonably satisfactory to the Administrative Agent and the Required Revolving Lenders (as defined in the Exit Facility Term Sheet); provided, that, for the avoidance of doubt, the plan described in the “Restructuring Term Sheet” attached as Exhibit A to the Plan Support Agreement filed in the Chapter 11 Cases on October [·], 2019 shall constitute an “Approved Plan”.
Acceptable Plan of Reorganization means a Reorganization Plan for each of the Cases in the form attached to the Restructuring Support Agreement as Exhibit [A], with changes to such form as are satisfactory to the Required Lenders in their sole discretion (as the same may be amended, supplemented, or modified from time to time after entry thereof with the consent of the Required Lenders in their sole discretion).
Acceptable Plan of Reorganization means a plan of reorganization for each of the Chapter 11 Cases that (a) provides for the termination of the unused NM Commitments and the payment in full in cash and full discharge of the Obligations at emergence or, solely with respect to the Roll-Up Loans, as to which the Lenders having Roll-Up Loans outstanding at such time that represent at least 66 2/3% of the sum of all outstanding Roll-Up Loans not being paid in cash have informed the Borrower in writing that such plan is an “Acceptable Plan of Reorganization”, (b) contains releases and other exculpatory provisions for the Agent and the Lenders in form and substance reasonably satisfactory to the Agent and the Required Lenders, and (c) is otherwise in form and substance reasonably satisfactory to the Agent and the Required Lenders.
Acceptable Plan of Reorganization means a Chapter 11 Plan for each of the Cases, in form and substance satisfactory to the Required Lenders and the Administrative Agent (solely with respect to its own treatment) in their sole respective discretion, that, upon the consummation thereof, provides for the termination of all unused Commitments hereunder and the indefeasible payment in full in cash of all of the Secured Obligations under the Loan Documents.
Acceptable Plan of Reorganization means a plan of reorganization in form and substance acceptable to the Requisite Lenders (and to the Administrative Agent and Collateral Agent, as applicable, with respect to those provisions thereof that affect the rights, obligations, liabilities, duties or treatment of the Administrative Agent and/or the Collateral Agent) in all respects, that, among other things, (i) is consistent with the terms and conditions as set forth in the RSA and the exhibits thereto and (ii) contains a release by the Debtors in favor of the Administrative Agent, the Collateral Agent, the Lenders and their respective Affiliates and Related Parties in their capacities as such to the extent permitted under applicable law.
Acceptable Plan of Reorganization means a Chapter 11 Plan for each of the Cases that, upon the consummation thereof, provides for (a)(i) a sale of the equity of the Debtors or (ii) an orderly liquidation of the Debtors or (b) such other treatment as is consented to by the Administrative Agent and the Lenders in their reasonable discretion.