Examples of Consenting Sponsor in a sentence
This Agreement shall terminate automatically without any further required action or notice upon the occurrence of the Effective Date (collectively with the Consenting Creditor Termination Events, the Company Termination Events, the Consenting Sponsor Termination Events, the Mutual Termination Event, and the Individual Termination Event, the “Termination Events”).
Notwithstanding anything in this Agreement to the contrary, termination by the Consenting Sponsors shall constitute termination by any Affiliate of a Consenting Sponsor that holds Term Loan Credit Facility Claims or PGN Claims unless otherwise agreed to by the Consenting Sponsor.
Notice of this Motion will be provided to (i) the Office of the United States Trustee for the District of Delaware; (ii) the holders of the 30 largest unsecured claims against the Debtors on a consolidated basis; (iii) counsel to the First Lien Agent; (iv) counsel to the First Lien Collateral Agent; (v) counsel to the Second Lien Secured Lenders; (vi) counsel to the Second Lien Agent; (vii) counsel to the Consenting Sponsor, and (viii) any party that has requested notice pursuant to Bankruptcy Rule 2002.
The Company Parties further acknowledge and agree that they will provide advance initial draft copies of any substantive pleadings other than the Definitive Documents to the Consenting Lenders Advisors and Consenting Sponsor Advisors no later than two (2) Business Days prior to the date when any Company Party intends to file the applicable substantive pleadings with the Bankruptcy Court.
The Debtors have circulated a copy of the Stipulation to the Office of the United States Trustee, the Official Committee of Unsecured Creditors, and the Consenting Sponsor, each of which has confirmed that they have no objection to entry of the order approving the Stipulation.WHEREFORE, the Debtors respectfully request that the Court enter the proposed order attached hereto as Exhibit A at its earliest convenience.Dated: August 20, 2021 /s/ Michael W.
As discussions progressed, the Debtors, the Ad Hoc Group, the Consenting Sponsor, and the advisors to each constructively worked to review a large volume of diligence while engaging in an ongoing dialogue.
As noted above, the Debtors’ general unsecured creditors (other than a claim of the Consenting Sponsor, which is consensually impaired), such as vendors, suppliers, employees, and landlords are unimpaired under the Plan and will be satisfied in full in the ordinary course of business, subject to the applicable contracts governing their relationship with the Debtors.
The Debtors are subsidiaries of the Consenting Sponsor, which is a group of Delaware limited partnerships and limited liability corporations.
As a result of the diligent negotiations and hard work by the various constituents, including the Debtors, the Ad Hoc Group, the Securitization Program Lenders, the Consenting Sponsor, and the advisors to each, the Debtors have preserved the going- concern value of the business, maximized creditor and stakeholder recovery, and minimized disruption to day-to-day operations.
The Company Parties acknowledge and agree that they will provide advance initial draft copies of the Definitive Documents to the Consenting Lenders Advisors and Consenting Sponsor Advisors as soon as reasonably practicable and will provide such documents no later than two (2) Business Days prior to the date when any Company Party intends to file the applicable Definitive Documents with the Bankruptcy Court.