Approved Reorganization definition

Approved Reorganization means a solvent and voluntary reorganization involving, alone or with others, the Issuer, and whether by way of consolidation, amalgamation, merger, transfer of all or substantially all of its business or assets, or otherwise provided that the principal resulting, surviving or transferee entity (a “Resulting Entity”) is a banking company and effectively assumes all the obligations of the Issuer, under, or in respect of, the Notes;
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Approved Reorganization means a reorganization pursuant to a Reorganization Plan that, upon the consummation thereof, provides for the termination of the aggregate Commitments, indefeasible payment in full in cash of the obligations under the Loan Documents and Cash Collateralizing the LC Exposure in respect of such Letter of Credit in the manner set forth in the first sentence of Section 2.04(j).
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Approved Reorganization means a reorganization pursuant to a Reorganization Plan that implements the restructuring of the Debtors on the terms and conditions set forth in the Restructuring Support Agreement.
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Examples of Approved Reorganization in a sentence

  • Proceedings for the winding-up or liquidation of the Issuer may only be initiated in the Republic of Italy (and not elsewhere), by the Trustee on behalf of the Noteholders, in accordance with the laws of the Republic of Italy (except for the purposes of an Approved Reorganization).

  • The Shareholders shall not be required to comply with, and shall have no rights under, Sections 3.1 through 3.4 in connection with an Approved Sale or Approved Reorganization.

  • Any of the Bankruptcy Events set forth in section 8.01(k) shall occur, including: (a) an order confirming a Chapter 11 Plan other than a Company Approved Reorganization Plan; and (b) any of the Obligors shall file or support any pleading seeking relief the grant of which would give rise to an Event of Default.

  • Within 20 days thereafter, the Debtors will hold a shareholders’ meeting to take steps to “effectuate a Chapter 11 Plan that is a Company Approved Reorganization Plan.” Id. § 5(ii).

  • Under those terms and procedures, the option may only be exercised by the Debtors and only in connection with a plan approved by the Board -- i.e., a “Company Approved Reorganization Plan.” See id.

  • Other than Indebtedness permitted by the terms of the Exit Facility and contemplated to be outstanding pursuant to the Approved Reorganization Plan (and as permitted pursuant to clause (ii) above), all Indebtedness of the Parent, Borrower and its Subsidiaries shall have been indefeasibly repaid in full or otherwise discharged or satisfied and all Liens securing such Indebtedness released in a manner satisfactory to MBL.

  • Proposed DIP Credit Agreement § 1.01 (‘“Company Approved Reorganization Plan’ shall mean a Chapter 11 Plan, as proposed by the Borrower and approved by its board of directors”); Schedule 2.12(a) § 7.

  • AT LEAST THIRTY (30) DAYS PRIOR TO THE EXPECTED MOVE-IN DATE OF THE LEASE.

  • Harbrew Florida was incorporated in the state of Florida on January 4, 2007, under the former name Stassi Harbrew Imports Corp., pursuant to the Bankruptcy Court Approved Reorganization Plan for the Stassi Interaxx, Inc.

  • The Borrower and the Guarantors shall have satisfied the conditions precedent to initial funding set forth in the Exit Facility (which shall be substantially similar to the conditions precedent set forth in the Pre-Petition Credit Agreement, subject to the provisions set forth on Exhibit I to the Approved Reorganization Plan) on or before the Extended Maturity Date.


More Definitions of Approved Reorganization

Approved Reorganization has the meaning set forth in Section 3.5(a).
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Approved Reorganization means the conveyance to Guardian Holdings of 100% of the outstanding equity interests in Lessee as contemplated by the Plan of Reorganization. Assessment: Any governmental assessment on the Leased Properties or any part of any of them for public or private improvements or benefits, whether or not commenced or completed prior to the date hereof and whether or not to be completed within the Term. Award: All compensation, sums or anything of value awarded, paid or received in connection with a Taking or Partial Taking.
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Approved Reorganization. The transaction, as more specifically described in PennyMac Financial Services, Inc.’s (“PFSI”) Current Report on Form 8-k dated August 2, 2018 filed with the SEC, whereby PFSI is undergoing a reorganization and as a result of which (i) PFSI shall own thirty-two (32%) percent of the outstanding shares of the Guarantor and (ii) New PennyMac Financial Services, Inc. shall hold sixty-eight (68%) percent of the outstanding shares of the Guarantor.
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Approved Reorganization means a reorganization generally as described in the Memorandum of Steps previously delivered by the Principals to Eagle affecting one or more of the CTM Companies, subject to the provisions of Section 6.2(d) and Section 6.15 of the CTM Agreement, that is completed prior to the Closing under the CTM Agreement.
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Approved Reorganization means a reorganization generally as described in the Memorandum of Steps previously delivered by Sellers to Eagle affecting one or more of the Companies, subject to the provisions of Section 6.2(d) and Section 6.15, that is completed prior to Closing.
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Related to Approved Reorganization

  • 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.

  • Business Combination means any merger, share exchange, asset acquisition, share purchase, reorganization or other similar business combination with one or more businesses, involving the Company.

  • Proposed Acquisition Transaction means, with respect to a SpinCo, a transaction or series of transactions (or any agreement, understanding or arrangement, within the meaning of Section 355(e) of the Code and Treasury Regulations Section 1.355-7, or any other Treasury Regulations promulgated thereunder, to enter into a transaction or series of transactions), whether such transaction is supported by the management or shareholders of such SpinCo, is a hostile acquisition, or otherwise, as a result of which such SpinCo would merge or consolidate with any other Person or as a result of which any Person or Persons would (directly or indirectly) acquire, or have the right to acquire, from such SpinCo and/or one or more holders of outstanding shares of Capital Stock of such SpinCo, a number of shares of Capital Stock of such SpinCo that would, when combined with any other changes in ownership of Capital Stock of such SpinCo pertinent for purposes of Section 355(e) of the Code, comprise 45% or more of (a) the value of all outstanding shares of stock of such SpinCo as of the date of such transaction, or in the case of a series of transactions, the date of the last transaction of such series, or (b) the total combined voting power of all outstanding shares of voting stock of such SpinCo as of the date of such transaction, or in the case of a series of transactions, the date of the last transaction of such series. Notwithstanding the foregoing, a Proposed Acquisition Transaction shall not include (i) the adoption by such SpinCo of a shareholder rights plan or (ii) issuances by such SpinCo that satisfy Safe Harbor VIII (relating to acquisitions in connection with a person’s performance of services) or Safe Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulations Section 1.355-7(d). For purposes of determining whether a transaction constitutes an indirect acquisition, any recapitalization resulting in a shift of voting power or any redemption of shares of stock shall be treated as an indirect acquisition of shares of stock by the non-exchanging shareholders. This definition and the application thereof is intended to monitor compliance with Section 355(e) of the Code and shall be interpreted accordingly. Any clarification of, or change in, the statute or Treasury Regulations promulgated under Section 355(e) of the Code shall be incorporated into this definition and its interpretation.

  • Transformative Acquisition means any acquisition or Investment by the Borrower or any Restricted Subsidiary that is either (a) not permitted by the terms of this Agreement immediately prior to the consummation of such acquisition or Investment or (b) if permitted by the terms of this Agreement immediately prior to the consummation of such acquisition or Investment, would not provide the Borrower and its Restricted Subsidiaries with adequate flexibility under this Agreement for the continuation and/or expansion of their combined operations following such consummation, as determined by the Borrower acting in good faith.

  • Unfriendly Acquisition any acquisition that has not, at the time of the first public announcement of an offer relating thereto, been approved by the board of directors (or other legally recognized governing body) of the Person to be acquired; except that with respect to any acquisition of a non-U.S. Person, an otherwise friendly acquisition shall not be deemed to be unfriendly if it is not customary in such jurisdiction to obtain such approval prior to the first public announcement of an offer relating to a friendly acquisition.

  • Qualifying IPO means the issuance by Holdings of its common Equity Interests in an underwritten primary public offering (other than a public offering pursuant to a registration statement on Form S-8) pursuant to an effective registration statement filed with the SEC in accordance with the Securities Act (whether alone or in connection with a secondary public offering).

  • Qualified IPO means the issuance by Holdings or any direct or indirect parent of Holdings of its common Equity Interests in an underwritten primary public offering (other than a public offering pursuant to a registration statement on Form S-8) pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission in accordance with the Securities Act (whether alone or in connection with a secondary public offering).