Participating Claims definition
Examples of Participating Claims in a sentence
The security interest will secure an amount equal to seventy-five percent of the aggregate of all of the amounts for which Qualified Participating Claims are settled under the Claimant Agreement.
Each Consenting Creditor agrees to provide to counsel to the Ad Hoc Group, the Company, and Weil notice in accordance with Section 23 hereof of (x) the acquisition of any additional Participating Claims, (y) to the extent of their knowledge, whether any such Claims were acquired from an existing Consenting Creditor, and (z) the aggregate amount of Claims it holds, within two (2) Business Days of the consummation of the transaction acquiring such additional Participating Claims.
Any financial institution that buys any Participating Claims, becomes a Party to this Agreement through the execution of a Joinder and makes the representations thereunder, and is in full compliance with all terms and commitments under the Agreement (including affirmative support for the Approved Plan and related Definitive Documents), will not be deemed a “Competitor Party” under subclause (ii), above.
Further, each Commitment Creditor has made no prior assignment, sale or other transfer of, and has not entered into any other agreement to assign, sell or otherwise transfer, in whole or in part, any portion of its right, title, or interests in such Participating Claims; provided, however, all Parties hereto acknowledge and agree that there may be such transactions between certain of the Commitment Creditors that remain pending as of the Agreement Effective Date.
Any public filing of this Agreement, with the Bankruptcy Court or otherwise shall provide Schedule II in redacted form only with respect to the amount of Participating Claims held by each Commitment Creditor, and, in the case of managed accounts, the specific name of managed accounts (provided that Schedule II may be filed in unredacted form with the Bankruptcy Court under seal).
Except as expressly provided in this Agreement, nothing herein is intended to, or does, in any manner waive, limit, impair or restrict the ability of each Party to protect and preserve its rights, remedies and interests, including its Participating Claims and any other claims against the Debtors or other parties.
No Party or its advisors shall disclose to any person or entity (including, for the avoidance of doubt, any other Party), other than advisors to the Debtors, the principal amount or percentage of any holdings of Participating Claims held by any of the Commitment Creditors, in each case, without such Commitment Creditors’ prior written consent or public disclosure of such information by such Commitment Creditors, as applicable.
Each Commitment Creditor agrees to take commercially reasonable efforts to provide prompt notice to counsel for the other Commitment Parties and the Debtors a notice in writing of any sale, transfer, assignment or other disposition of any of its Participating Claims, and in any event within five (5) Business Days of the consummation of such transaction, which may be satisfied by the delivery of a Joinder as provided hereunder by either the Permitted Transferee or a Transferor.
For the avoidance of doubt, and notwithstanding anything to the contrary contained in this Agreement, nothing in this Agreement shall bind Barclays or its affiliates to take or not take any action, or otherwise in any respect, other than with respect to its U.S. Special Situations Desk in relation to its Participating Claims.
Except as expressly provided in this Agreement, nothing herein is intended to, or does, in any manner waive, limit, impair or restrict the ability of each Party to protect and preserve its rights, remedies and interests, including its Participating Claims, any other claims against the Debtors or other parties and Existing Common Stock.