Consensual Plan definition
Examples of Consensual Plan in a sentence
The Reliance Entities shall use their respective good faith efforts to notice a hearing on confirmation of the Consensual Plan, to convene not more than 45 days after the date the Disclosure Statement is approved and to conclude not more than 60 days after such approval.
Not later than five business days after such Bankruptcy Court approval (or such other date as the Bankruptcy Court orders), the Reliance Entities shall distribute the Disclosure Statement to all known members of each class of impaired claims or interests identified in the Consensual Plan and shall solicit the consent of each such class of claims and interests in compliance with the Bankruptcy Code and Federal Rules of Bankruptcy Procedure.
Except for and without limiting either Party’s rights under the ▇▇▇▇▇ Consensual Plan, this Agreement constitutes the entire agreement and understanding between the Parties with respect to the subject matter of this Agreement (including the Services).
As used herein, the “Deferral Period” means the period from the date hereof through the confirmation date of a Consensual Plan, provided that if a “Transition Event” (as defined on Exhibit C) occurs, then the Deferral Period shall cease as of the date of such Transition Event, as the case may be, and the “Transition Period” (as defined below) shall commence.
The Parties agree that time to assume or reject the Master Lease is further extended to the earlier of: (i) effective date of the Consensual Plan or (ii) the date of the occurrence of a “Transition Event” (as defined on Exhibit C) and the motion to approve this Compromise shall also seek approval of such further extension of time to assume or reject as a component of the requested relief.
In addition, LINN shall use commercially reasonable efforts to continue to assist ▇▇▇▇▇ in connection with the resolution of claims against ▇▇▇▇▇ and Linn Acquisition Company, LLC relating to the Chapter 11 Cases (as defined in the ▇▇▇▇▇ Consensual Plan); provided, however, that LINN will not be required to provide such assistance after the Term of this Agreement absent mutual agreement of the Parties, including agreement as to the additional compensation to LINN for such assistance.
Effective upon termination of this Agreement, ▇▇▇▇▇ assumes and agrees to discharge when due any and all Liabilities attributable to or arising from the ▇▇▇▇▇ Related Assets except as otherwise provided in this Agreement and except for any such Liabilities discharged or otherwise released pursuant to or in connection with the ▇▇▇▇▇ Consensual Plan or the LINN Consensual Plan.
For a period of one year from the Effective Date, each of LINN and ▇▇▇▇▇ shall (i) furnish upon request to the other Party such further information, (ii) execute, acknowledge and deliver to such other Party such other documents, and (iii) do such other acts and things, as such other Party may reasonably request for the purpose of carrying out the intent of this Agreement or the ▇▇▇▇▇ Consensual Plan or the Linn Consensual Plan.
Notwithstanding the foregoing, in the event of a conflict between the provisions of this Agreement and the ▇▇▇▇▇ Consensual Plan, the terms of the ▇▇▇▇▇ Consensual Plan shall prevail.
The Parties agree that this Compromise is binding and final when executed (subject to Bankruptcy Court approval), and once approved shall not be modified in any way by the confirmation or denial of confirmation of the Consensual Plan or any subsequent plan, without the express written consent of the Parties and the Mortgage Lenders.