Examples of Plan Sponsorship Agreement in a sentence
Reorganized TEC’s sole obligation in respect of the Retention Commitments shall be to pay up to an aggregate of $286,500 from funds in the JPM Account (as defined in the Caerus Plan Sponsorship Agreement).
On the Effective Date, Reorganized TEC shall assume, subject to the provisions and limitations of Article VII.A.4 of the Plan, TEC’s prepetition retention commitments (the “ Retention Commitments”) to certain employees in the manner, and to the extent described in Section 4(j) and Schedule 4(j) of the Caerus Plan Sponsorship Agreement.
The Caerus Plan Sponsorship Agreement shall not have been terminated.
Notwithstanding the foregoing, the Administrative Agent and the Lenders agree that, so long as the Lender Plan Support Agreement remains effective and has not been terminated, proceeds from the sale of the Collateral to Rise Energy Partners II, LP shall be applied as set forth in the Plan Sponsorship Agreement.
TEC did not receive written notification of any Uncured Title Defects, Environmental Conditions, or Casualty Losses (as such terms are defined in the Plan Sponsorship Agreement, dated November 8, 2009, by and between the Debtors and Rise (the “Rise Plan Sponsorship Agreement”) from Rise.
The parties hereto represent and warrant that there are no other agreements or understandings, written or oral, regarding any of the subject matter hereof other than as set forth herein and covenant not to enter into any such agreements or understandings after the date hereof, except pursuant to an amendment, modification, or waiver of the provisions of this Plan Sponsorship Agreement.
After the Effective Date, such right shall pass to the Reorganized Debtors and shall be governed by the terms of this Plan and the Caerus Plan Sponsorship Agreement; provided, however, that the Debtors shall retain the right to compromise and settle any pending appeal.
The Plan Sponsorship Agreement shall have been fully consummated and the Debtors shall have received $35 million in total proceeds therefrom.
The offering, issuance and distribution of the New Common Stock and the Second Lien Convertible Notes (as well as the New Common Stock to be issued upon the conversion thereof) to the Plan Sponsor pursuant to the Plan Sponsorship Agreement, shall be exempt from the registration requirements of section 5 of the Securities Act and any other applicable law requiring registration pursuant to one or more exemptions from such registration including Section 4(2) of the Securities Act.
In accordance with Bankruptcy Code section 1123(b)(3) and pursuant to the terms of the Caerus Plan Sponsorship Agreement, all Causes of Action and other similar claims arising under applicable state laws, including, without limitation, fraudulent transfer claims, if any, and all other causes of action of a trustee and debtors-in-possession under the Bankruptcy Code, along with all proceeds thereof, shall be transferred to Caerus upon the consummation of this Plan.