Examples of Consenting Equity Holders in a sentence
If you wish to participate in the mutual release among the holders of First Lien Claims that vote on the Plan, the holders of Second Lien Claims that vote on the Plan, the Prepetition Agent, the Consenting Equity Holders, the Debtors and the Reorganized Debtors, you must so indicate on the enclosed ballot.
Accordingly, the Plan Support Agreement may be terminated after the date of this Disclosure Statement, and such a termination would present a material risk to Confirmation of the Plan because the Plan may no longer have the support of the Consenting Term Lenders and the Consenting Equity Holders.
As a result of these negotiations, prior to the commencement of the Reorganization Cases, the Debtors entered into the Lock-Up Agreement, dated as of July 29, 2005, with the Prepetition Agent, the Consenting First Lien Secured Parties, the Consenting Second Lien Secured Parties, and the Consenting Equity Holders (the "Lock-Up Parties").
Notwithstanding the foregoing, if this Support Agreement is modified in a manner materially adverse to the Consenting Equity Holders, any Consenting Equity Holder may terminate this Support Agreement as to itself only, pursuant to Section 2.2(c) hereof.
As of the date hereof, the Consenting Equity Holders are the owners and holders of a majority of the equity of the Borrower, representing a controlling interest therein.
The arm’s-length negotiations between, among others, the Debtors, CRB, the Plan Sponsor, and the Consenting Equity Holders, provide independent evidence of the good faith in proposing the Plan.
After good-faith, arm’s-length negotiations, on July 13, 2012, the Company reached an agreement (as may be amended or modified, the “Restructuring Support Agreement”) with the Required Consenting Noteholders, who hold approximately two-thirds of the aggregate principal amount of the outstanding Senior Secured Notes, and the Consenting Equity Holders, who hold approximately 70% of the Existing Preferred Interests.
The obligations of the Parties and the effectiveness hereof are subject to the execution and delivery of signature pages for this Support Agreement by each of the Company, Consenting Equity Holders holding no less that 66% of the aggregate shares of Preferred Stock, and Consenting Noteholders holding no less than 66% of the principal amount of the Notes (the date upon which such condition is satisfied, the “Effective Date”).
Nothing in the Restructuring Support Agreement shall require the Company or its board of directors to breach any fiduciary obligations it has under applicable law, and to the extent that such fiduciary obligations require the Company or its board of directors to terminate its obligations under the Restructuring Support Agreement, it may do so without incurring any liability to the Consenting Noteholders or the Consenting Equity Holders.
The Company believes it will receive the requisite amount of votes in favor of the Prepackaged Plan, in light of the fact that the Consenting Noteholders who hold approximately two-thirds of the aggregate principal amount of the outstanding Senior Secured Notes, and the Consenting Equity Holders, who hold approximately 70% of the Existing Preferred Interests, have agreed to vote for, support and not object to the Prepackaged Plan.