Newbuild Debtors definition
Examples of Newbuild Debtors in a sentence
Class C3 consists of all General Unsecured Claims against the Newbuild Debtors and Seadrill UK Ltd.
Class C2 consists of all General Unsecured Claims against Other Seadrill Debtors other than the Newbuild Debtors and Seadrill UK Ltd.
Holders of Allowed General Unsecured Claims against Other Seadrill Debtors other than the Newbuild Debtors are conclusively presumed to have accepted the Plan under section 1126(f) of the Bankruptcy Code.
Claims Against the Newbuild Debtors On the Plan Effective Date, holders of Claims against the Newbuild Debtors shall receive their liquidation recovery amount in cash, unless otherwise agreed between the Shipyard and the Company Parties with the consent of the Required Consenting Noteholders (not to be unreasonably withheld, conditioned, or delayed).
On or prior to the Effective Date and assumption of the Newbuild Contracts, the Newbuild Debtors shall transfer their owned equipment as set forth in the Newbuild Assumption Term Sheet free and clear of all Liens and Claims to the Shipyard.
Claims Each holder of an allowed General Unsecured Claim against the Debtors (other than the Newbuild Debtors) shall receive payment in full in cash within 90 days after the later of (x) the Plan Effective Date and (y) the date such Claim comes due under applicable Law or in the ordinary course of business in accordance with the terms and conditions of the particular transaction giving rise to such Claim.
If the Shipyard does not vote in favor of the Plan, the effective date of rejection of the Newbuild Contracts shall be the Effective Date of the Plan unless otherwise agreed to by the Shipyard and the Newbuild Debtors with the consent of the Required Consenting Creditors.
On the Effective Date, each holder of an Allowed General Unsecured Claim against an Other Seadrill Debtor other than the Newbuild Debtors shall, at the election of the applicable Debtor, be (a) Reinstated or (b) paid in full in Cash.