Examples of New Limited Liability Company Agreement in a sentence
The New Limited Liability Company Agreement and any other New Organizational Documents shall be adopted on the Effective Date and shall be deemed to be valid, binding and enforceable in accordance with its terms, and each holder of New Common Equity shall be fully bound thereby in all respects.
Each party receiving New Common Equity shall not be required to execute the New Limited Liability Company Agreement before receiving its respective distributions of New Common Equity under the Plan, including any New Common Equity issued pursuant to the UPA.
The Plan will provide that, on the Closing Date, Reorganized Holdings and each holder of New Common Equity shall become a party to the New Limited Liability Company Agreement, which New Limited Liability Company Agreement shall be the form attached hereto as Exhibit D and shall be executed by each of the Plan Sponsors.
Any such party who does not execute the New Limited Liability Company Agreement shall be automatically deemed to have accepted the terms of the New Limited Liability Company Agreement (in its capacity as a member of Reorganized Horsehead) and to be a party thereto without further action.
The Company shall file the form of New Limited Liability Company Agreement with the Bankruptcy Court as part of the Plan.
Notwithstanding anything in this Plan to the contrary, distributions of Entegra Membership Interests to Holders of Allowed Class 4 Claims may be distributed directly to such Holders or to such Holders’ designee as permitted by and subject to the New Limited Liability Company Agreement of Entegra.