Non-Conforming Plan of Reorganization definition

Non-Conforming Plan of Reorganization means any Plan of Reorganization whose provisions are inconsistent with the provisions of this Agreement, including any plan of reorganization that purports to re-order (whether by subordination, invalidation, or otherwise) or otherwise disregard, in whole or part, the provisions of Article II (including the Lien priorities of Section 2.1), the provisions of Article IV, or the provisions of Article VI, unless such Plan of Reorganization has been accepted by the voluntary required vote of each class of ABL Claimholders and Note Claimholders.

Non-Conforming Plan of Reorganization means any Plan of Reorganization that does not provide for payments pursuant to such Plan of Reorganization in respect of the Obligations to be made with the priority specified in Section 7.02 and that has not been approved by the Required Revolving Lenders.

Non-Conforming Plan of Reorganization means any Plan of Reorganization in an Insolvency Proceeding or other Proceeding (as defined below) that contravenes the terms of this Agreement, including without limitation, any Plan of Reorganization that does not provide for payments or distributions in respect of the Senior Indebtedness (and any security thereof) to be made with the priority specified herein or that seeks to make payments or distributions on account of the Subordinated Indebtedness (or any security thereof) prior to the Discharge of the Senior Indebtedness.

Examples of Non-Conforming Plan of Reorganization in a sentence

• Without limiting the generality of the foregoing or of the other provisions of this Agreement, any vote to accept, and any other act to support the confirmation or approval of, any Non-Conforming Plan of Reorganization shall be inconsistent with and accordingly, a violation of the terms of this Agreement, and the ABL Agent shall be entitled to have any such vote to accept a Non-Conforming Plan of Reorganization changed and any such support of any Non-Conforming Plan of Reorganization withdrawn.

• Without limiting the generality of the foregoing or of the other provisions of this Agreement, any vote to accept, and any other act to support the confirmation or approval of, any Non-Conforming Plan of Reorganization shall be inconsistent with and accordingly, a violation of the terms of this Agreement, and each Additional ABL Agent shall be entitled to have any such vote to accept a Non-Conforming Plan of Reorganization changed and any such support of any Non-Conforming Plan of Reorganization withdrawn.

• No Junior Lien Secured Party (whether in the capacity as a secured or unsecured creditor) may support or vote in favor of any Non-Conforming Plan of Reorganization (and each shall be deemed to have voted to reject any such Non-Conforming Plan of Reorganization).

• Without limiting the generality of the foregoing or of the other provisions of this Agreement, any vote to accept, and any other act to support the confirmation or approval of, any Non-Conforming Plan of Reorganization shall be inconsistent with and accordingly, a violation of the terms of this Agreement, and the Prior Lien Agent shall be entitled to have any such vote to accept a Non-Conforming Plan of Reorganization changed and any such support of any Non-Conforming Plan of Reorganization withdrawn.

• Without limiting the generality of any provisions of this Agreement, any vote to accept, and any other act to support the confirmation or approval of, any Non-Conforming Plan of Reorganization shall be inconsistent with and accordingly, a violation of the terms of this Agreement, and the First Lien Collateral Agent shall be entitled to have any such vote to accept a Non-Conforming Plan of Reorganization dismissed and any such support of any Non-Conforming Plan of Reorganization withdrawn.

More Definitions of Non-Conforming Plan of Reorganization

Non-Conforming Plan of Reorganization means any plan of reorganization that grants any Noteholder Secured Party any right or benefit, directly or indirectly, which right or benefit is prohibited at such time by the provisions of the Intercreditor Agreement.

Non-Conforming Plan of Reorganization any Plan of Reorganization which grants the Junior Lien Collateral Agent or any Junior Lien Secured Party any right or benefit, directly or indirectly, which right or benefit is expressly prohibited at such time by the provisions of this Agreement.

Non-Conforming Plan of Reorganization means any Plan of Reorganization which either (i) grants any Second Priority Agent or any Second Priority Secured Party any right or benefit, directly or indirectly, which right or benefit is expressly prohibited at such time by the provisions of this Agreement or (ii) unless accepted by the Required Lenders in accordance with Section 1126(c) of the Bankruptcy Code, fails to provide for the Discharge of Senior Lender Claims upon the effective date thereof.

Non-Conforming Plan of Reorganization means any Plan of Reorganization which grants the Junior Lien Representative or any Junior Lien Secured Party any right or benefit, directly or indirectly, which right or benefit is inconsistent with the terms of this Agreement or prohibited at such time by the provisions of this Agreement.

Non-Conforming Plan of Reorganization means any Plan of Reorganization that does not provide for payments and distributions pursuant to such Plan of Reorganization in respect of the Pari Debt Obligations to be made in accordance with the priority specified in Section 2.01 and that has not been approved by (i) the Revolving Secured Parties holding more than 50% of Revolving Credit Agreement Debt, to the extent that the Revolving Secured Parties will receive payments pursuant to such Plan of Reorganization on a basis relative to any other Series of Pari Debt Obligations that is less than that provided in Section 2.01, and (ii) the Non-Revolving Secured Parties holding more than 50% of each other Series of Pari Debt Obligations that will receive payments pursuant to such Plan of Reorganization on a basis relative to any other Series of Pari Debt Obligations that is less than that provided in Section 2.01; provided that if two or more Series of Pari Debt Obligations (other than the Revolving Credit Agreement Debt) are affected in a similar manner with respect to such payments and distributions, then such Plan of Reorganization shall have been deemed approved for purposes of this Agreement by the Secured Parties holding more than 50% of the aggregate amount of such two or more Series of Pari Debt Obligations voting as a single class.

Non-Conforming Plan of Reorganization means any Plan of Reorganization which either (i) grants any Second Priority Agent or any Second Priority Secured Party any right or benefit, directly or indirectly, which right or benefit is expressly prohibited at such time by the provisions of this Agreement or (ii) unless accepted by the Required Lenders in accordance with any provision of any applicable Bankruptcy Law, fails to provide for the Discharge of Senior Lender Claims upon the effective date thereof.

Non-Conforming Plan of Reorganization means any plan of reorganization whose provisions are inconsistent with the provisions of this Agreement, including any plan of reorganization (a) that purports to re-order (whether by subordination, invalidation, or otherwise) or otherwise disregard, in whole or part, the provisions of Section 2 (including the Lien priorities of Section 2.1), the provisions of Section 4, or the provisions of Section 6, unless such plan of reorganization has been accepted by the required vote, if any, of each class of Revolving Claimholders and Notes Claimholders or (b) for which confirmation is sought, with respect to a class of claims consisting of Notes Claimholders or Revolving Claimholders, as applicable, pursuant to section 1129(b) of the Bankruptcy Code.