Global Settlement definition

Global Settlement means that certain settlement incorporated into and described in Section 5.1 of the Plan, pursuant to section 1123 of the Bankruptcy Code and Bankruptcy Rule 9019, and consistent in all respects with the Restructuring Support Agreement.

Global Settlement means the mutually agreeable resolution reached between the Debtors, Prepetition Secured Lender, and Committee, which is embodied herein within the Plan and discussed in detail within Article VIII.A. hereof.

Global Settlement means the global settlement by and among the Debtors, the Ad Hoc First Lien Committee, and the Committee (including the Committee Members), which provides for, among other things: (a) assumption of the U.S. Qualified Pension Plan obligations; (b) assumption of the unexpired Collective Bargaining Agreements; (c) assumption of the Citibank Sublease; (d) establishment of the General Unsecured Claims Cash Pool, which provides for an enhanced Cash recovery to Holders of Allowed General Unsecured Claims; (e) appointment of the Claims Oversight Monitor; (f) payment of the Stipulated Administrative Expense Settlement Claim; (g) waiver of the deficiency claim for the Holders of the First Lien Notes Claims; (h) waiver and release of all Avoidance Actions arising under chapter 5 of the Bankruptcy Code or any comparable action arising under applicable non-bankruptcy law against trade vendors and non-insider landlords of the Debtors; (i) the Committee’s support of the Plan and encouragement of creditors through the Committee Support Letter (as defined in the Disclosure Statement) to vote to accept the Plan; (j) the cessation of the Debtors’ and the Committee’s Investigations, and the submission by the Examiner of a report after reviewing the Debtors’ and Committees’ respective draft reports; (k) reduction of the New Second Lien Debt from at least $200 million to $100 million; (l) Debtor Releases in favor of Mr. Robert G. Burton, Sr. and related family members and their respective Affiliates; and (m) the right for Holders of Second Lien Notes Claims to receive and retain proceeds of cash collateral under the Plan notwithstanding the applicability of the Second Lien Intercreditor Agreement.

Examples of Global Settlement in a sentence

• This Global Settlement Agreement constitutes the entire agreement and understanding between and among the Parties concerning the matters set forth herein and supersedes any prior agreements or understandings.

• Notwithstanding any provision to the contrary in this Global Settlement Agreement, the FTX Debtors (and their successors, including any plan administrator or wind down trust) retain the right to assert, prosecute, and settle any claims and causes of action which are property of the FTX Debtors’ estates against any defendant in any of the MDL Continuing Actions (even if overlapping with claims asserted in the MDL Continuing Actions) or any Excluded Independent Action.

• In the event of an alleged breach of this Global Settlement Agreement, one Party shall notify the other Parties via email within fourteen (14) days of the alleged breach, and the breaching Party shall have fourteen (14) days to withdraw, amend, or otherwise cure the Docusign Envelope ID: 740570B5-42F5-464C-B520-9A8C7B62E121 breach.

• Within seven (7) days of execution by all Parties of this Global Settlement Agreement, (i) the FTX Debtors shall file a motion seeking approval of this Global Settlement Agreement in the FTX Bankruptcy Proceedings, and (ii) the MDL Plaintiffs shall file a motion for approval of this Global Settlement Agreement with the MDL Docusign Envelope ID: 740570B5-42F5-464C-B520-9A8C7B62E121 Court (together, the “Settlement Approval Motions”).

• The Parties shall use their reasonable best efforts to take, or cause to be taken, all appropriate action to do or cause to be done all things necessary under applicable law, and to execute and deliver such documents and other papers, in each case, as may be required to carry out the provisions of this Global Settlement Agreement and consummate and make effective the transactions contemplated hereby.

More Definitions of Global Settlement

Global Settlement means any National disposition, settlement, agreement or other arrangement, such as "Tobacco Claims Legislation", by way of legislation, executive order, regulation, taxation, levy, fine, class action settlement, court order or otherwise, of smoking-related litigation, in direct or indirect connection with which one or more Tobacco Companies receives the benefit of a limitation of, or total or partial immunity from, liability to the members of the Settlement Class for the types of claims released under this Agreement.

Global Settlement means the settlement among the Debtors, the Creditors’ Committee, Ally and the Consenting Claimants set forth in Article IV of the Plan.

Global Settlement means the agreement between the Debtors, the Creditors’ Committee, the DIP Lenders, and the Prepetition Secured Parties (as defined in the DIP Financing Order), the key terms of which are set forth herein and in the DIP Financing Order and Annex 6 thereto.

Global Settlement means the settlement among the Debtors, the Unions, certain Bondholders, and involving Centerbridge and CBP, documented in the Union Settlement Agreements, the Plan Support Agreement, the New Investment Agreement and their respective exhibits and appendices.

Global Settlement means the settlement by and among the Debtors, the Unofficial Committee of Senior Secured Noteholders and the Committee which was approved by the Court by order entered February 5, 2014 [Docket No. 367].

Global Settlement means the global settlement between the Global Settlement Parties pursuant to the term sheet attached to the Notice of Filing Global Settlement Term Sheet [Dkt. No.367].

Global Settlement. The proposed agreement, in which New York State intends to participate if it becomes effective, resolving the litigation and claims brought or threatened to be brought by states and subdivisions against the Settling Distributors, including claims against the Settling Distributors asserted in the multi-district litigation In re: Nationwide Prescription Opiate Litigation, MDL No. 2804 (N.D. Ohio) (“MDL”) and state court prescription opiate litigation.