Judicial Reorganization Plan definition

Judicial Reorganization Plan means the judicial reorganization plan of Oi and its direct and indirect subsidiaries TMAR, Oi Móvel, Portugal Telecom International Finance BV – Under Judicial Reorganization and Oi Brasil Holdings Coöperatief UA – Under Judicial Reorganization – jointly with companies COPART 4 Participações S.A. – Under Judicial Reorganization and COPART 5 Participações S.A. – Under Judicial Reorganization which were subsequently merged, respectively, into Oi and TMAR – approved at a creditors’ general meeting held on December 19 and 20, 2017 and ratified by the Judicial Reorganization Court on January 8, 2018, as amended pursuant to the Amendment to the Judicial Reorganization Plan approved at the Creditors’ General Meeting.
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Judicial Reorganization Plan means the Judicial Reorganization Plan ratified by the 7th Lower Business Court of the Judicial District of the Capital City of the State of Rio de Janeiro on [•], as amended and modified from time to time, in accordance with its terms, establishing the terms and the conditions for the restructuring of debt of Debtor and its Fully Controlled Companies (“Companies Under Judicial Reorganization”), and establishing actions to be adopted by the Companies Under Judicial Reorganization to overcome the financial issues of the Companies Under Judicial Reorganization and guarantee its continuity as active companies, including, but not limited to, (1) the restructuring and balance of its liabilities; (2) actions during the judicial reorganization created to obtain new funds; and (3) the potential sale of the PPE.
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Judicial Reorganization Plan means the judicial reorganization plan of Oi and its direct and indirect subsidiaries TMAR, Oi Móvel, Portugal Telecom International Finance BV — Under Judicial Reorganization, and Oi Brasil Holdings Cooperatief UA — Under Judicial Reorganization — jointly with companies COPART 4 Participações S.A. — Under Judicial Reorganization and COPART 5 Participações S.A. — Under Judicial Reorganization, which were subsequently merged, respectively, into Oi and TMAR — approved at a creditors’ general meeting held on December 19 and 20, 2017 and ratified by the Judicial Reorganization Court on January 8, 2018, as amended pursuant to the Amendment to the PRJ approved at the Creditors’ General Meeting held on [date].
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Examples of Judicial Reorganization Plan in a sentence

  • Except for the Judicial Reorganization Plan, Sellers have no Knowledge of any procedure pertaining to any transaction or settlement with creditors, nor any procedure of bankruptcy, judicial or extrajudicial reorganization, much less other insolvency procedure, in progress or imminent against Sellers and/or the Company, and no event has occurred that, under the applicable Law, could justify the instatement of such procedures.

  • On March 28th, 2018, the Company disclosed a Material Fact informing that, due to the complexity of the impacts of the judicial reorganization process and the approval and confirmation of the Judicial Reorganization Plan on the preparation of the Company’s independent audit of the financial statements for the 2017 fiscal year, and focusing on the quality and adequacy of Oi’s accounting information, the Company would not disclose its financial statements for the 2017 fiscal year on that date.

  • From the sixth (6th) anniversary of the Date of Ratification of the Judicial Reorganization Plan onwards, they shall be authorized to pay dividends only if Net Debt/EBITDA ration is equal to, or lower than, two (2) after the end of the relevant financial year.

  • With the approval of the Judicial Reorganization Plan (“PRJ” or “Plan”), ANATEL initiated some procedures aiming at monitoring the Company’s financial situation, as well as to assess its Company’s ability to discharge its obligations arising from the terms of the concession agreements.

  • The reduction of the level of indebtedness of the Company, as a result of the approval of the Judicial Reorganization Plan by the creditors significantly reduces the financial expenditures, reflecting in the income statement of 2018.

  • Article included to transitionally adapt the Bylaws to the provisions of the Company's Judicial Reorganization Plan with respect to the composition of the New Board of Directors, pursuant to Clause 9.3 of such Plan.

  • This corporate reorganization is expressly set forth in the Judicial Reorganization Plan (Clause and annex 7.1 of the Plan) approved and ratified by Judicial Recovery Court.

  • The capital increase through the issuance of new shares is one of the means of judicial reorganization, expressly provided for by law (Article 50, VI, of Law No. 11,101/05) and the Capitalization of Credits is provided for in the Judicial Reorganization Plan approved by General Creditors Meeting and ratified by the Judicial Reorganization Court.

  • Consideration and resolution on the issuance, by the Company, of the declaration required by Judgment No. 1, dated January 8, 2021, which gave rise to the Prior Consent from the National Telecommunications Agency ( Agência Nacional de Telecomunicações), or Anatel, for the merger of Telemar Norte Leste S.A. - In Judicial Reorganization ("Telemar"), a wholly-owned subsidiary of Oi, with and into the Company, as provided for in the Judicial Reorganization Plan.

  • The Capitalization of Credits is a measure provided for in Clauses 4.3.3.2 and 4.3.3.5 of the Judicial Reorganization Plan approved by the General Meeting of Creditors and ratified by the Judicial Reorganization Court.


More Definitions of Judicial Reorganization Plan

Judicial Reorganization Plan or “Plan” means the Judicial Reorganization Plan of Oi, Telemar, Oi Móvel, Copart 4, Copart 5, PTIF and OI Coop, ratified in court in the case records of the Judicial Reorganization proceedings in progress before the 7th Commercial Court of the District of the Capital of Rio de Janeiro, under No. 0203711-65.2016.8.19.001.
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Related to Judicial Reorganization Plan

  • Reorganization Plan means a plan of reorganization in any of the Cases.

  • Capital Reorganization shall have the meaning set forth in Section 4.3.

  • Corporate Reorganization means any change in the legal existence of any Obligor (other than a Capital Reorganization) including by way of amalgamation, merger, winding up, continuance or plan of arrangement.

  • Internal Reorganization has the meaning set forth in the Separation Agreement.

  • Plan of Reorganization means any plan of reorganization, plan of liquidation, agreement for composition, or other type of plan of arrangement proposed in or in connection with any Insolvency or Liquidation Proceeding.

  • Pre-Acquisition Reorganization has the meaning set out in Section 6.8;

  • Reorganization Agreement has the meaning set forth in the recitals.

  • Chapter 11 Plan means a plan of reorganization or liquidation filed in any of the Chapter 11 Cases under Section 1121 of the Bankruptcy Code.

  • Common Share Reorganization has the meaning set forth in Section 4.1;

  • Reorganization Transaction see clause (d) of the definition of “Change of Control.”

  • Bank Merger Agreement has the meaning set forth in Section 6.10.

  • Agreement and Plan of Merger has the meaning set forth in the first recital above.

  • Reorganization Transactions shall have the meaning set forth in the recitals.

  • Plan of Merger has the meaning set forth in Section 2.2.

  • Permitted Reorganization means any reorganizations and other activities related to tax planning and tax reorganization, so long as, after giving effect thereto, the enforceability of the Note Guarantees, taken as a whole, are not materially impaired.

  • Reorganization Cases means the cases filed by the Debtors under Chapter 11 of the Bankruptcy Code.

  • Pre-Closing Reorganization has the meaning set forth in the Recitals.

  • Amended and Restated Certificate of Incorporation means the Amended and Restated Certificate of Incorporation of the Company, as in effect as of the Effective Date.

  • Business Combination Agreement shall have the meaning given in the Recitals hereto.

  • Action Plan means an action plan as defined in the AEP Regulations in relation to the Premises;]

  • Steps Plan means a plan evidenced by Eligible Information contemplating that there will be a series of successions to some or all of the Relevant Obligations of the Reference Entity, by one or more entities.

  • Restructuring Plan means the extrajudicial restructuring plan, filed with the Sao Paulo Bankruptcy and Reorganization Court on August 19, 2020 (the “Restructuring Plan Filing Date”), providing for the issuance of the Securities and of the New Notes in exchange for the restructuring of various financial debts of OEC and certain of its Affiliates, as duly amended from time to time.

  • Amalgamation Agreement means the Amalgamation Agreement dated as of June 26, 2020 among Cybin, Clarmin and Subco relating to the Amalgamation, as amended on October 21, 2020, a copy of which is available under the Company’s profile on the SEDAR website at www.sedar.com.

  • Reorganization Event has the meaning specified in Section 5.6(b).

  • resolution plan means a plan proposed by resolution applicant for insolvency resolution of the corporate debtor as a going concern in accordance with Part II;

  • Change in Control Agreement means a written Change in Control Agreement between an employee and the Company or an Affiliate.