Management Incentive. Plan On the Consummation Date, reorganized Stone shall adopt a management incentive plan (the “Management Incentive Plan”) which shall provide for the grant of up to 10% of the New Equity Interests (or warrants or options to purchase New Equity Interests or other equity-linked interests) on a fully diluted basis to certain members of management. The form, allocation and any limitations on the Management Incentive Plan shall be determined by the New Board (or a committee thereof). Releases & Exculpation The amended Credit Agreement, the indenture for the New Notes, the Plan, and the Confirmation Order will contain customary mutual releases and other exculpatory provisions in favor of the Company, the Consenting Noteholders, the Indenture Trustee, the holders of existing common stock in Stone that provide a release, and each of their respective current and former affiliates, subsidiaries, members, professionals, advisors, employees, directors, and officers, in their respective capacities as such; provided, however, that if the class of Bank Claims votes to accept the Plan, the holders of Bank Claims and the administrative agent under the Credit Agreement will also be subject to the foregoing releases and exculpatory provisions. Such release and exculpation shall include, without limitation, any and all claims, obligations, rights, suits, damages, causes of action, remedies, and liabilities whatsoever, whether known or unknown, foreseen or unforeseen, existing or hereinafter arising, in law, equity, or otherwise, including any derivative claims and avoidance actions, of the Company, whether known or unknown, foreseen or unforeseen, existing or hereinafter arising, in law, equity, or otherwise, that the Company would have been legally entitled to assert in its own right (whether individually or collectively), or on behalf of the holder of any claim or equity interest (whether individually or collectively) or other entity, based in whole or in part upon any act or omission, transaction, or other occurrence or circumstances existing or taking place at any time prior to or on the Consummation Date arising from or related in any way in whole or in part to the Company, the Credit Agreement, the Indentures, the Chapter 11 Cases, the purchase, sale, or rescission of the purchase or sale of any security of the Company, the subject matter of, or the transactions or events giving rise to, any claim or equity interest that is affected by the Transaction or treated in the...
Management Incentive. Plan As defined in the Term Sheet. Merger Those certain transactions on or around March 24, 2015, by and among the predecessors to the Debtors and the completion and production business of Nabors, effectuating a merger of such entities. Mineral Contractor Claim Any Claim that is secured by, or in the reasonable judgment of counsel to the Company may be secured by, a lien on property of a customer of the Debtors arising under chapter 56 of the Texas Property Code, or any similar federal, state, or local law, whether or not such Claim is or may be secured by a lien on property of the Debtors. Nabors Xxxxxx Industries Ltd. New Board As defined in the Term Sheet. New Common Equity Pool 100% of the New Common Stock issued and outstanding on the Effective Date to be distributed to the holders of Allowed Lender Claims in accordance with the Plan, subject to dilution on account of the Management Incentive Plan, the Rights Offering, the Backstop Fee, and the New Warrants. New Common Stock The common stock of Reorganized C&J Energy. New Warrants As defined in the Term Sheet. Other Priority Claim Any Claim other than an Administrative Claim or a Priority Tax Claim entitled to priority in right of payment under section 507(a) of the Bankruptcy Code. Other Secured Claim Any Secured Claim, including any Secured Tax Claim, other than a Lender Claim or a DIP Facility Claim. For the avoidance of doubt, “Other Secured Claims” includes any Claim arising under, derived from, or based upon any letter of credit issued in favor of one or more Debtors, the reimbursement obligation for which is either secured by a Lien on collateral or is subject to a valid right of setoff pursuant to section 553 of the Bankruptcy Code. Petition Date The date on which the Chapter 11 Cases were commenced. Plan As defined in the Term Sheet. Plan Restructuring Documents As defined in the RSA. Plan Supplement Any compilation of documents and forms of documents, agreements, schedules, and exhibits to the Plan, which shall be filed by the Debtors no later than 7 days before the Confirmation Hearing or such later date as may be approved by the Bankruptcy Court on notice to parties in interest, and additional documents filed with the Bankruptcy Court prior to the Effective Date as amendments to the Plan Supplement, each of which shall be consistent in all respects with, and shall otherwise contain, the terms and conditions set forth in the RSA and Term Sheet, where applicable, and shall be in form and sub...
Management Incentive. Plan As defined in the Term Sheet.
Examples of Management Incentive in a sentence
Executive shall participate in any Management Incentive Compensation Plan adopted by the Company or in such other bonus plan as the Board may approve for the senior executives of the Company.
Incentive compensation (Management Incentive Plan, Variable Pay Plan and Long Term Incentive Plan) related to Atmos’ Shared Services Unit will be applied consistent with treatment approved in GUD 10580.
Rate base is prepared consistent with the rate making treatments approved in the Final Order, and as in GUD 10580 as specifically related to capitalized incentive compensation (Management Incentive Plan, Variable Pay Plan and Long Term Incentive Plan) for Atmos’ Shared Services Unit.
The Serica 2005 Option Plan is comprised of two parts, the basic share option plan and a part which constitutes an Enterprise Management Incentive Plan (“EMI Plan”) under rules set out by the H.M. Revenue & Customs in the United Kingdom.
The Committee is authorized to grant Management Incentive Awards, subject to the terms of the Plan.
More Definitions of Management Incentive
Management Incentive. Plan As defined in this Restructuring Term Sheet.
Management Incentive. Plan As soon as reasonably practicable after the Effective Date, the Reorganized Company will adopt a management incentive plan, which management incentive plan shall reserve up to 5.0% of the New Common Stock in the Reorganized Company on a fully diluted basis, and which shall be on the terms and conditions (including any and all awards granted thereunder) to be determined at the discretion of the New Board (including, without limitation, with respect to the participants, allocation, timing, and the form and structure of the options, warrants, and/or equity compensation (the “Management Incentive Plan”). SEC Reporting The Reorganized Company shall continue as a public reporting company under applicable U.S. securities laws. The Reorganized Company shall continue to file annual, quarterly and current reports in accordance with the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. Stock Exchange The Company shall use commercially reasonable efforts to list the New Common Stock for trading on The NASDAQ Capital Market, the NASDAQ Global Market, the New York Stock Exchange or any other national securities exchange reasonably acceptable to the Company and the Noteholder Committee with such listing to be effective on the Effective Date. Restructuring Fees and Expenses The Debtors shall pay all reasonable and documented fees and out of pocket expenses of one primary counsel to the Noteholder Committee, Akin Gump Xxxxxxx Xxxxx & Xxxx LLP (“Akin”), one local counsel to the Noteholder Committee, and one financial advisor to the Noteholder Committee, Evercore Group L.L.C. (“Evercore”), in each case, that are due and owing after receipt of applicable invoices, without any requirement for the filing of fee or retention applications in the Chapter 11 Cases, and in accordance with the terms of the applicable engagement letters, with any balance(s) paid on the Effective Date (collectively, the “Restructuring Expenses”). Tax Matters The parties will work together in good faith and will use commercially reasonable efforts to structure and implement the Restructuring and the transactions related thereto in a tax efficient and cost-effective manner for the Company and the Noteholders to the extent practicable. The parties intend to structure the Restructuring to preserve favorable tax attributes to the extent practicable and not materially adverse to the Company or the Noteholders.
Management Incentive means an amount equal to twenty percent (20%) of the Surplus Cash Flow of Borrower for the immediately preceding fiscal year pursuant to the calculation on Exhibit 1.5(B).
Management Incentive. Plan: To be determined post-Restructuring by the new board of PGS. Any issuance of equity or warrants will require a 66 2/3% shareholder vote (calculated on the basis of those voting). If any Atlantic Power proceeds are received after the earlier of (i) Completion or (ii) 31 October 2003 then such proceeds shall be included in Major Proceeds. If any Atlantis proceeds are received after the earlier of (i) Completion or (ii) 31 October 2003, then a pro rata share of 90% of such proceeds will be paid to the Package A Holders as an additional recovery under the section entitled "Cash recovery on Completion" below (i.e., the aggregate of each Holders outstanding Bank Facilities and Notes electing Package A divided by $2.14 billion and multiplied by 90%), and the remainder will be included in Major Proceeds. FINAL DRAFT EXHIBIT A TO PLAN SUPPORT AGREEMENT PRIVATE AND CONFIDENTIAL Cash recovery on At Completion PGS to pay to the Banks and the Completion: Noteholders any cash of the group in excess of $50m ("Excess Cash") at the month end prior to Completion or (if earlier) 31 October 2003 as an additional recovery (such payment being made pro rata to the Banks and the Noteholders in respect of face values of the Bank Facilities and the Notes). Excess Cash at the time of Completion shall be calculated on a basis consistent with both the "CASH AVAILABLE - ACCUMULATED" row in the liquidity reports as previously provided and with the Conduct of Business paragraph below. This calculation will be subject to adjustment in respect of any abnormal contingencies or balances (excluding exceptional tax liabilities payable within 6 months of Completion) and will be calculated after payment of all fees and expenses payable by PGS in relation to the Restructuring (including those required to be paid by PGS as described below) and establishment of the reserve account referred to below. A reserve account of $30m shall be established by PGS, the balance of which shall be applied from time to time against abnormal contingencies (including exceptional tax liabilities). To the extent that any balance remains 6 months after Completion then upon a vote of a simple majority of the board, such proceeds will be paid to those Holders who receive an additional recovery under the section entitled "Cash recovery on Completion" below as a further recovery. If Completion has not occurred by 31 October 2003, then the additional recovery shall include a payment of $6m for each complete month duri...
Management Incentive. Plan As defined in the body of the Restructuring Term Sheet. New Common Stock The new shares of common stock in Reorganized GenOn to be issued and distributed under the Plan. New Employment Agreement A new employment agreement for GenOn’s current Chief Executive Officer on terms mutually acceptable to GenOn’s current Chief Executive Officer and the GenOn Steering Committee. New Exit Credit Facility That certain senior secured revolving credit facility to be provided, to the extent necessary, by the Lender Parties, subject to the terms set forth in the Exit Financing Term Sheet, to fund the Reorganized Debtors’ working capital and other operational needs. New Secured Notes Those certain secured notes to be issued to the Note Purchasers in accordance with the Notes Offering Procedures; provided that the terms and conditions of the New Secured Notes that are purchased through the New Secured Notes Offering will be determined through the Notes Offering Procedures, including procedures or arrangements for addressing oversubscription of the New Secured Notes.
Management Incentive. Plan The management incentive plan implemented by the Equity Issuer on the Effective Date in accordance with the terms of the Management Incentive Plan Term Sheet and the Plan Term Sheet. Management Incentive Plan Term Sheet That certain management compensation term sheet setting forth the terms of the Management Incentive Plan attached to the Plan Term Sheet as Annex B. Net Funded Debt The aggregate principal amount of New Term Loans and New Secured Notes outstanding immediately after the Effective Date minus the amount of cash on the Reorganized Debtors’ balance sheet immediately after the Effective Date; provided, however, that in no event shall the aggregate principal amount of New Term Loans and New Secured Notes outstanding immediately after the Effective Date exceed $7.5 billion in the aggregate. New Common Stock The new common equity securities of the Equity Issuer. New Corporate Governance Documents The form of certificate or articles of incorporation, bylaws, limited liability company agreement, partnership agreement, or such other applicable formation documents (if any) of the Equity Issuer, including any certificates of designation, forms of which shall be included in the Plan Supplement. New Debt Collectively, the New Revolver, the New Term Loan, and the New Secured Notes, if any, issued as part of the Reorganized Debtors’ capital structure. New Debt Agreements The indentures or loan agreements governing the New Debt, the form of which shall be included in the Plan Supplement.
Management Incentive. Plan On or as soon as reasonably practicable after the Plan Effective Date, a management incentive plan (the “Management Incentive Plan”) acceptable to the Requisite Plan Support Parties and the Company shall be implemented for designated members of senior management of Reorganized HCC.