Examples of Framework Restructuring Agreement in a sentence
In June 2020, SEL and its certain specified subsidiaries, entered into a Framework Restructuring Agreement (hereinafter referred to as the “FRA”) with a Consortium of Lenders led by the State Bank of India (hereinafter referred to as the “Existing Lenders”) for restructuring the debt of the Company, in terms of the Reserve Bank of India circular dated 7th June 2019 (the “RBI Circular”).
SAC was formed with the objective of allotment of securities to the lender banks or their appointed trustees pursuant to the Resolution Plan for restructuring the debt of the Company, as per the Framework Restructuring Agreement dated 12th July 2021.
The Hong Kong JPLs are seeking an order from the High Court of Hong Kong for their discharge as Hong Kong JPLs and recognition as Cayman JPLs. On 12 April 2018, (i) the Company, the Hong Kong JPLs and the Investor terminated the Framework Restructuring Agreement; and (ii) the Company, the Cayman JPLs and the Investor entered into a restructuring agreement (“Restructuring Agreement”) for the purpose of restructuring the Company.
Immediately on conversion CCPS into Equity Shares of SGSL, such SGSL shareholders may at their discretion exercise a put option to sell their Equity Shares of SGSL to the Company at a price which shall be higher of: (a) fair value of the SGSL shares; or (b) at CCPS Exit Price as specified in the Framework Restructuring Agreement.
It is noted that, after the Effective Date of the Restructuring, OHL shall request the judicial approval of the Restructuring (homologación) by the Spanish courts through the implementation of the Framework Restructuring Agreement for the purposes indicated in the resolution relating to the Debt Capitalization Capital Increase proposed in item Fourth of the agenda of the Extraordinary General Shareholders' Meeting.
The terms of the Restructuring Agreement are materially the same as those set out in the Framework Restructuring Agreement.