Examples of Consensual Plan in a sentence
Discharge The discharge that a debtor receives in a sub V case and its timing depend on whether consensual or cramdown confirmation occurs.A. Discharge Upon Confirmation of Consensual Plan Under New § 1191(a) Section 1141(d) governs discharge in a chapter 11 case.
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.
The treatment of the Class 17 claims are dependent upon whether the Plan is confirmed as a Consensual Plan with the acceptance of each class of creditors or by Cramdown in the event of a rejecting class.
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.
Effective upon termination of this Agreement, Xxxxx assumes and agrees to discharge when due any and all Liabilities attributable to or arising from the Xxxxx 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 Xxxxx Consensual Plan or the LINN Consensual Plan.
For a period of one year from the Effective Date, each of LINN and Xxxxx 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 Xxxxx Consensual Plan or the Linn Consensual Plan.
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.
Except for and without limiting either Party’s rights under the Xxxxx 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).
Notwithstanding the foregoing, in the event of a conflict between the provisions of this Agreement and the Xxxxx Consensual Plan, the terms of the Xxxxx Consensual Plan shall prevail.
In the event the Deferral Period ends due to confirmation of a Consensual Plan, the “Transition Period” shall commence in accordance with the terms and provisions of the Consensual Plan and such Consensual Plan shall supersede the terms and provisions of this Compromise.