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).

Approved Reorganization has the meaning set forth in Section 3.5(a).

Examples of Approved Reorganization in a sentence

Each Stockholder shall take all necessary or desirable actions in connection with the consummation of the Approved Reorganization as reasonably requested by the Majority Holders and/or the Company.
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.
No Shareholder shall be bound in its capacity as shareholder by any prior actions taken under this Section 4 with respect to a Company Approved Reorganization Plan in the event a Company Approved Reorganization Plan is not confirmed pursuant to an order of the Bankruptcy Court.
The proceeds of the Loans shall be used to: (i) repay in full all amounts outstanding under the DIP Facility on the Closing Date; (ii) fund distributions under the Approved Reorganization Plans; (iii) pay all Fees and expenses required to be paid pursuant to Section 4.01(d); (iv) pay all allowed administrative expense claims incurred during the Cases in full; and (v) to provide working capital to the Borrower and its Subsidiaries and for general corporate purposes.
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.
If the Approved Reorganization is structured as a (i) merger or consolidation, each Stockholder shall waive any dissenters' rights, appraisal rights or similar rights in connection with such merger or consolidation or (ii) sale of stock, each Stockholder shall agree to sell all of its Stockholders Shares on the terms and conditions approved by the Majority Holders.
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.
If the Approved Reorganization is structured as a (i) merger or consolidation, each Securityholder shall waive any dissenters' rights, appraisal rights or similar rights in connection with such merger or consolidation or (ii) sale of securities, each Securityholder shall agree to sell all of its Securityholders Shares on the terms and conditions approved by the Majority Holders.
If the Approved Reorganization is structured as a (i) merger or consolidation, each Stockholder shall waive any dissenters' rights, appraisal rights or similar rights in connection with such merger or consolidation or (ii) sale of stock, each Stockholder shall agree to sell all of its Stockholders Shares on the terms and conditions approved by and applicable to the Approving Stockholders.
Each Securityholder shall take all necessary or desirable actions in connection with the consummation of the Approved Reorganization as reasonably requested by the Majority Holders and/or the Company.

More Definitions of Approved Reorganization

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.

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.

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.

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.

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.