Examples of LINN RSA in a sentence
Pursuant to the terms of the LINN RSA, settlement of all claims and causes of action related to the Second Lien Notes will be implemented through the Plan.
As of the Effective Date, the Reorganized LINN Board shall consist of seven directors and will include: (1) the current Chief Executive Officer of LINN; (2) one director selected by Reorganized LINN; and (3) five directors to be selected by a six-person committee comprised of the five largest Consenting LINN Noteholders (as determined pursuant to Section 4 of the LINN RSA) and the current Chief Executive Officer of LINN.
In the event the Plan is not consummated, provisions of the Plan, this Disclosure Statement, and the LINN RSA (and any exhibits or supplements relating to the foregoing) and all negotiations relating thereto shall not be binding or probative.
Pursuant to Rule 408 of the Federal Rules of Evidence, the Plan, this Disclosure Statement, and the LINN RSA (and any exhibits or supplements relating to the foregoing), and all negotiations relating thereto shall not be admissible into evidence in any proceeding unless and until the Plan is consummated, and then only in accordance with the Plan.
Occurrence of a Creditor Termination Event entitles, but doesnot require, the Required Consenting LINN Creditors to terminate the LINN RSA (as more fully set forth therein).
The LINN Debtors discussed the Committee Demand Letter with the Committee on multiple occasions, but ultimately decided that the pursuit of the consensual deal encompassed in the LINN RSA served the best interests of their estates and all parties in interest.
In conjunction with the negotiation of the Joint Creditor Proposal and as a condition to entry into the Creditor Restructuring Agreement, the LINN Debtors also engaged with the LINN Lenders regarding the terms of an amended and improved $1.7 billion LINN Exit Facility, the terms of which were documented in a term sheet (the “LINN Exit Facility Term Sheet”), which is attached as Exhibit B to the LINN RSA.
The LINN Exit Facility embodied in the LINN RSA is a critical feature of the agreement from the LINN Debtors’ perspective.
The LINN Debtors, subject to the terms and conditions of the Plan, the LINN RSA, and the LINN Backstop Agreement reserve the right to modify the terms and conditions of the Plan as necessary for Confirmation.
The terms of the Joint Creditor Proposal were documented in the LINN RSA.