Examples of Bank Actions in a sentence
Notwithstanding anything otherwise to the contrary, the Allowance of a Bank Claim for purposes of this Plan shall not constitute, be deemed to constitute, or be cited as, a defense to (or other grounds for avoiding liability under) the Continuing Bank Actions.
The Debtors shall not exercise such retained right with respect to a Bank Lender prior to a Final Order approving a judgment in, or settlement of, the Continuing Bank Actions, and then only to the extent set forth in such Final Order.
Payment of the Bank Claims is without prejudice to any rights or remedies of the Debtors, the Creditors’ Committee or the Contingent Value Vehicle in connection with the Bank Actions, which rights and remedies will be preserved and retained in full.
Pursuant to Bankruptcy Rule 9019, the Plan incorporates a proposed compromise and settlement of issues relating to the Bank Claims and the Bank Actions.
The Confirmation Order shall provide that all Dismissed Bank Actions, if any, shall, with respect to the Debtor Parties only, be dismissed with prejudice and without costs, and the Debtor Parties shall be deemed to release the Bank Lenders, Investment Banks and/or other defendants with respect to the Dismissed Bank Actions, effective as of the Effective Date.
If the Bank Release is granted, the Contingent Value Vehicle will have no right to pursue the Bank Actions against the Released Bank Lender Defendants.• On the Effective Date, pursuant to the Debtors’ Settlement Authority, certain Bank Actions meeting criteria specified in the Plan (the “Dismissed Bank Actions”) will be dismissed with prejudice, and, in such a case, the Debtors will be deemed to release the Bank Lenders with respect to the Dismissed Bank Actions, effective as of the Effective Date.
Timing of all payments and distributions under the Plan to holders of Bank Claims in Rejecting Bank Classes in their capacity as such (including those distributions described in Articles IV and VI) is subject to resolution of the Creditors’ Committee’s proposed motion pursuant to Sections 502(a), (b) and/or (d) of the Bankruptcy Code directing the holding back of any distribution until the resolution of the Continuing Bank Actions.
Defensive Claims shall be fully preserved and may be asserted in response to the Bank Actions; provided, however, such Defensive Claims may be asserted (i) solely for purposes of limiting, reducing, offsetting or defeating the liability of such defendant to any Debtor Party, (ii) shall not be entitled to any affirmative recovery, and (iii) shall remain subject to any Estate Bank Defenses.
Each Administrative Agent under a Prepetition Credit Agreement shall be granted, for the benefit of all Bank Lenders under such Prepetition Credit Agreement that remain subject to Continuing Bank Actions, a first priority Lien (subject to the other provisions of this Plan) on the LIF corresponding to such Prepetition Credit Agreement.
If the Bank Release is granted, the Contingent Value Vehicle will have no right to pursue the Bank Actions against the Released Bank Lender Defendants.• On the Effective Date, pursuant to the Debtors’ Settlement Authority, certain Bank Actions meeting criteria specified in the Plan (the “Dismissed Bank Actions”) may be dismissed with prejudice, and, in such a case, the Debtors will be deemed to release the Bank Lenders with respect to the Dismissed Bank Actions, effective as of the Effective Date.