Examples of Plan Sponsorship Agreement in a sentence
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.
The $35 million in proceeds from the Plan Sponsorship Agreement shall be used by Reorganized Wellman to (i) fund administrative expenses and unsecured creditor recoveries, if any, under the Plan, (ii) fund the payment of any cure costs under Executory Contracts and Unexpired Leases to be assumed by Reorganized Wellman, (iii) pay down all or a portion of the obligations outstanding under the DIP facility, and (iv) fund the Liquidating Trust.
All Cash necessary for the Reorganized Debtors to make payments required pursuant to the Plan will be obtained from the Plan Sponsor pursuant to the Plan Sponsorship Agreement, the Reorganized Debtors’ Cash balances or the Exit Financing Facility.
Concurrent with the Royalty transaction, the Company used a portion of the proceeds to repay the DIP.On August 2, 2018, the Company and the Plan Sponsor entered into a CCAA Acquisition and Plan Sponsorship Agreement pursuant to which the Plan Sponsor will acquire the Company upon and subject to the terms and conditions set out in the Plan Sponsorship Agreement under the CCAA Plan.
Wedlake Affidavit – Part 2, Exhibit B: Plan Sponsorship Agreement, s.
The Reorganized Debtors are authorized to enter into and consummate the Plan Sponsorship Agreement, and all the transactions contemplated thereby and necessary to consummate the Plan Sponsorship Agreement.
All consideration necessary for the Reorganized Debtors to make payments or distributions pursuant hereto shall be obtained from the Plan Sponsor pursuant to the Plan Sponsorship Agreement, the Exit Financing Facility, or other Cash from the Debtors, including Cash from business operations.
Any party may, for itself only, (a) extend the time for the performance of any of the obligations of any other party under this Plan Sponsorship Agreement, (b) waive any inaccuracies in the representations and warranties of any other party contained herein or in any document delivered pursuant hereto, and (c) waive compliance with any of the agreements or conditions for the benefit of such party contained herein.
If the application of any provision of this Easement is found to be invalid or unenforceable as to any particular person or circumstance, the application of such provisions to persons or circumstances, other than those as to which it is found to be invalid, shall not be affected thereby.
Prior to the Auction, the Rise Plan Sponsorship Agreement had not been terminated or amended.