Examples of Dissenting Noteholders in a sentence
Having acquired the assets, Paxos would then conduct an orderly marketing of the Debtors’ assets and keep the equity on behalf of that small group of noteholders, most of which are Dissenting Noteholders.
Therefore, on September 30, 2010 (the “MMI Petition Date”), the Debtors consented to entry of 2 Some of the Dissenting Noteholders have changed since they first engaged in negotiations with the Debtors.
After the Debtors declined those third-party lenders’ offer to loan funds, however, some of the Dissenting Noteholders that had previously insisted on providing part of the exit financing abruptly reversed their positions and demanded that the Debtors’ assets instead be placed into receivership.
Within 21 days after the Offeror sends an Offeror’s Notice pursuant to Section 12.3, the Offeror shall pay or transfer to the Note Trustee, or to such other person as the Note Trustee may direct, the cash or other consideration that would be payable if all Dissenting Noteholders elected to accept the Offer in accordance with Section 12.3. The acquisition by the Offeror of all Notes held by all Dissenting Noteholders shall be effective as of the time of such payment or transfer.
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The Note Trustee, or the Person directed by the Note Trustee, shall hold in trust for the Dissenting Noteholders the cash or other consideration they or it receives under Section 11.5. The Note Trustee, or such Persons, shall deposit cash in a separate account in a Canadian chartered bank, or other body corporate, any of whose deposits are insured by the Canada Deposit Insurance Corporation, and shall place other consideration in the custody of a Canadian chartered bank or such other body corporate.
Within 21 days after the Offeror sends an Offeror’s Notice pursuant to Section 10.3, the Offeror shall pay or transfer to the Trustee, or to such other Person as the Trustee may direct, the cash or other consideration that is payable to Dissenting Noteholders pursuant to Section 10.2. The acquisition by the Offeror of all Notes held by all Dissenting Noteholders shall be effective as of the time of such payment or transfer.
Within 21 days after the Offeror sends an Offeror’s Notice pursuant to Section 11.3, the Offeror shall pay or transfer to the Note Trustee, or to such other Person as the Note Trustee may direct, the cash or other consideration that is payable to Dissenting Noteholders pursuant to Section 11.2. The acquisition by the Offeror of all Notes held by all Dissenting Noteholders shall be effective as of the time of such payment or transfer.
The most active Dissenting Noteholders appear to be Mark Crossen and Luc Verelst, and/or their affiliates.bankruptcy relief in response to the Involuntary Petition and sought conversion of the case to a case under Chapter 11 of the Bankruptcy Code.
All of the parties to these negotiations, including but not limited to the Dissenting Noteholders, acknowledged the importance of meeting these obligations to prevent a severe loss of value in the Debtors’ assets.