Approved Plan of Reorganization definition

Approved Plan of Reorganization has the meaning assigned to that term in subsection 3.1E.

Approved Plan of Reorganization means any of the following: (a) if an Approved Sale is consummated, a plan of reorganization which distributes the cash proceeds from such sale of an amount satisfactory to the Administrative Agent and Lenders to the Debtors’ holders of claims in accordance with the priorities set forth in the Bankruptcy Code, (b) a plan of reorganization which (i) provides for termination of the Commitments under the DIP Facility and payment in full in cash of all Secured Obligations under the Loan Documents owed to the Lenders in respect of the DIP Facility on the effective date of such Approved Plan of Reorganization and (ii) provides for the payment in full in cash of the Pre- Petition Non-Affiliate Obligations unless an alternative treatment is approved by more than half of the Pre- Petition Non-Affiliated Lenders holding greater than 66 2/3% of the Pre-Petition Non-Affiliate Obligations or (c) a plan of reorganization which is otherwise approved by the Administrative Agent and the Majority Lenders in their sole discretion.

Approved Plan of Reorganization means the “Plan” as defined in the DIP Order.

Examples of Approved Plan of Reorganization in a sentence

• The Agent shall have received evidence that the Debtors have effectuated the transactions contemplated by Article IV.J. of the Approved Plan of Reorganization.

• The Debtors shall be in compliance in all material respects with the Confirmation Order and the Approved Plan of Reorganization, and all of the conditions precedent to the Effective Date have been satisfied or waived (including Article IX.A.8 thereof) in accordance therewith.

• All fees and other amounts required to be paid to the Agent pursuant to the Agent’s Fee Letter on or prior to the effectiveness of this Agreement shall have been paid, and Borrower shall have reimbursed Agent and Lenders for all other due and owing fees, costs and expenses incurred as of the Closing Date (and to the extent invoiced) which are required to be paid by the Borrower pursuant to the Loan Documents and/or the Approved Plan of Reorganization.

• The initial Borrowing hereunder shall be utilized by the Borrower (i) to repay the DIP Facility and all amounts outstanding thereunder in full on the Closing Date and (ii) to fund payments required to be made under the Approved Plan of Reorganization, including under Article IV.B. of the Approved Plan of Reorganization, but subject to Article IX.A.8 thereof.

• Immediate approval of the DIP Facility will permit the Debtors to seek confirmation of their fully consensual Approved Plan of Reorganization on an accelerated timeframe, permitting the Debtors to continue to operate their business free of distraction from the bankruptcy process, and avoid the costs and uncertainty of a prolonged period in chapter 11.

More Definitions of Approved Plan of Reorganization

Approved Plan of Reorganization means the plan of reorganization substantially in the form of Exhibit G-2, and modifications or supplements with respect thereto, other than any modification or supplement that (a) alters the debt capital structure of the Loan Parties, (b) allows for the incurrence of material Indebtedness upon the effective date of the Approved Plan of Reorganization not otherwise contemplated under the Approved Plan of Reorganization (without giving effect to any such modification or supplement), (c) changes the priority of any Indebtedness from that set forth in the Approved Plan of Reorganization (without giving effect to any such modification or supplement) or (d) is otherwise materially adverse to the Lenders.

Approved Plan of Reorganization means the “Plan” as contemplated by and as defined in the Transaction Support Agreement.

Approved Plan of Reorganization means a chapter 11 plan of reorganization for the Chapter 11 Cases that provides for the indefeasible repayment in full and in cash of all outstanding Obligations on the effective date thereof and which includes the Agents, the Joint Lead Arrangers and the Lenders as “released parties” thereunder.

Approved Plan of Reorganization means a plan of reorganization filed by the Credit Parties with the Bankruptcy Court that is acceptable in form and substance satisfactory to the Administrative Agent and the Required Lenders and a disclosure statement filed by the Credit Parties with the Bankruptcy Court that is acceptable in form and substance reasonably satisfactory to the Administrative Agent and the Required Lenders.

Approved Plan of Reorganization means a plan of reorganization under and in compliance with the provisions of chapter 11 of the Bankruptcy Code in the form of Exhibit N attached to the Existing Credit Agreement, subject only to such changes as are not prohibited by Section 7.18.

Approved Plan of Reorganization means either (a) a plan of reorganization which provides for termination of the Commitments, indefeasible payment in full in cash of all Obligations under the Loan Documents owed to the Lenders on the effective date of such Approved Plan of Reorganization and does not impair the Prepetition Credit Agreement Obligations or (b) a plan of reorganization which is otherwise approved by the Administrative Agent and the Majority Lenders in their sole discretion.[Different first page setting changed from off in original to on in modified.].

Approved Plan of Reorganization has the meaning set forth on Schedule 7.21 hereto.