Original Debtors definition
Examples of Original Debtors in a sentence
This Agreement has been entered into on the date stated at the beginning of this Agreement and executed as a deed by the Original Debtors and the Original Security Providers and is intended to be and is delivered by them as a deed on the date specified above.
The Parties hereby acknowledge and confirm that by their execution of, or accession to, this Agreement, all rights powers, obligations and undertakings under the intercreditor agreement dated 20 December 2017 and made between, amongst others, the Parent, the Company, the Senior Facility Agent, the Security Agent and the Original Debtors (each as defined therein) shall be terminated.
The Parent, the Original Debtors and the Original Security Providers are entering into this Agreement pursuant to the Financing Agreement, and in connection with the grant by the Original Guarantors of certain guarantees in favour of the Participating Creditors and the grant by the Original Security Providers of Security pursuant to the Transaction Security Documents in favour of the Participating Creditors.
This deed is made on [date] by the Acceding [Debtor/Security Provider] in relation to an intercreditor agreement (the “Intercreditor Agreement”) dated [—] between, amongst others, Wilmington Trust (London) Limited as security agent, Citibank International plc as Facility Agent, the Facilities Agreement Creditors, the Original Debtors and Original Security Providers (each as defined in the Intercreditor Agreement).
The parties hereto manifest and acknowledge that what has been said in the previous numerals is a novation involving the substitution of the debtor and, therefore, they declare the Original Debtor's Obligation extinguished, Likewise, the parties acknowledge that as a result of the Novation, each and every one of the terms and conditions of the Obligation will be fully valid and in force in relation to the Delegated Debtor.
The Original Debtors shall emerge from bankruptcy on the date hereof upon the effectiveness of the Debtors’ Modified Second Amended Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code (as amended, supplemented or otherwise modified from time to time prior to the date hereof, the “Plan of Reorganization”), which Plan of Reorganization has been confirmed by order of the Bankruptcy Court entered on July 18, 2017 (the “Confirmation Order”).
AGREEMENTS dated November 9, 1994, executed by the Original Debtors (the "Original Security Agreements").
THIS AGREEMENT has been entered into on the date stated at the beginning of this Agreement and executed as a deed by the Intra-Group Lenders and the Original Debtors and is intended to be and is delivered by them as a deed on the date specified above.
The Parent, the Original Debtors and the Original Security Providers entered into this Agreement in relation to the 2017 Facilities Agreement, which has refinanced the 2014 Facilities Agreement in full, and in connection with the grant by the Original Guarantors of certain guarantees in favour of the Facilities Agreement Creditors and the grant by the Original Security Providers of Security pursuant to the Transaction Security Documents in favour of the Facilities Agreement Creditors.
The Parent, the Original Debtors and the Original Security Providers are entering into this Agreement pursuant to the Facilities Agreement, and in connection with the grant by the Original Guarantors of certain guarantees in favour of the Facilities Agreement Creditors and the grant by the Original Security Providers of Security pursuant to the Transaction Security Documents in favour of the Facilities Agreement Creditors.