Examples of New Diamond Common Shares in a sentence
DTC shall be required to accept and conclusively rely upon this Plan or Confirmation Order in lieu of a legal opinion regarding whether the New Diamond Common Shares (including any New Diamond Common Shares issuable upon exercise of the New Warrants or upon exercise of the Subscription Rights) and the New Warrants are exempt from registration and/or eligible for book-entry delivery, settlement, and depository services.
Should the Reorganized Debtors elect on or after the Effective Date to reflect any ownership of the New Diamond Common Shares or the New Warrants through the facilities of DTC, and presuming DTC agrees to such request, the Reorganized Debtors shall not be required to provide any further evidence other than this Plan or the Confirmation Order with respect to the treatment of the New Diamond Common Shares or the New Warrants under applicable securities laws.
The Reorganized Company agrees, if instructed by the Requisite Financing Parties, to use commercially reasonable efforts to have the New Diamond Common Shares listed or quoted on the New York Stock Exchange (the “NYSE”) on the Effective Date, or if such listing or quotation is not possible on the Effective Date, as soon as reasonably practicable after the Effective Date, in each case, subject to applicable listing requirements.
The New Diamond Common Shares to be issued pursuant to the Primary Rights Offering and the Delayed Draw Rights Offering will be issued on the Effective Date.
Distributions not treated as dividends and in excess of a holder’s adjusted basis will generally be treated as capital gain subject to the rules discussed below (see D.4.c, “Gain on Disposition of Exit Revolving Credit Facility, Exit Term Loans, Exit Notes, New Diamond Common Shares, and New Warrants”).
The total number of shares of New Diamond Common Shares to be distributed in connection with this Plan shall be adjusted as necessary to account for the rounding provided for in this Article VII.N. No consideration shall be provided in lieu of fractional shares that are rounded down.
A U.S. Holder’s holding period in the New Diamond Common Shares received in satisfaction of its Allowed Senior Notes Claims will include its holding period in the Allowed Senior Notes Claims exchanged therefor, except to the extent of any New Diamond Common Shares received in respect of accrued but unpaid interest as discussed below (see C.2.e,“Distributions in Discharge of Accrued Interest or OID”).
Assuming that the Subscription Rights are respected for U.S. federal income tax purposes as options to acquire New Diamond Common Shares and Exit Notes, upon lapse of any Subscription Rights unexercised, a U.S. Holder generally would recognize a loss to the extent of the U.S. Holder’s tax basis in such Subscription Rights.
DTC shall be required to accept and conclusively rely upon the Plan or Confirmation Order in lieu of a legal opinion regarding whether the New Diamond Common Shares (including any New Diamond Common Shares issuable upon exercise of the New Warrants or upon exercise of the Subscription Rights) and the New Warrants are exempt from registration and/or eligible for book-entry delivery, settlement and depository services.
In either tax-free situation, a U.S. Holder’s tax basis in the New Diamond Common Shares received would equal the U.S. Holder’s tax basis in the New Warrant.