Plan Voting definition

Plan Voting. The Second Lien Collateral Agent and the Second Lien Secured Parties may not propose or support or vote in favor of any plan of reorganization or liquidation (and each shall and shall be deemed to have voted to reject any plan of reorganization) unless such plan (a) pays off, at the time of effectiveness thereof, in cash and in full, all First Lien Obligations or (b) is accepted by the class of holders of First Lien Obligations voting thereon in accordance with Section 1126(c) of the Bankruptcy Code. The Second Lien Collateral Agent and the Second Lien Secured Parties may propose or support or vote in favor of any plan of reorganization or liquidation that pays off, at the time of effectiveness thereof, in cash and in full, all First Lien Obligations.
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Examples of Plan Voting in a sentence

  • The foregoing rights shall by their terms remain open and exercisable until 5:00 p.m., New York City time, on the Plan Voting Date (the "Subscription Right Period").

  • Except pursuant to Section 2.1(d), an Equity Election will be properly made only if the Voting Agent shall have received at its designated office, by 5:00 p.m. New York City time on the Plan Voting Date, a properly completed and signed Election Form and Trust Accession Instrument.

  • To the extent possible, the Parties shall also request that the Court set the Settlement Response Deadline on the same date as the Plan Voting Deadline.

  • The Junior Lender hereby absolutely, irrevocably and unconditionally assigns and sets over to the Senior Lender all of Junior Lenders’ Plan Voting Rights in any Insolvency Proceeding respecting Borrower.

  • Each Subordinate Lender hereby absolutely, irrevocably, and unconditionally assigns and sets over to such Senior Lender all of such Subordinate Lender's Plan Voting Rights in any Insolvency Proceeding respecting Borrower.

  • By voting to adopt this Plan, Voting Depositors will be voting to adopt the Certificate of Incorporation and Bylaws for the Holding Company attached as Exhibits D and E to this Plan.

  • The Junior Lender hereby absolutely, irrevocably and unconditionally assigns and sets over to the Senior Lender all of the Junior Lender's Plan Voting Rights in any Insolvency Proceeding respecting Borrower.

  • Junior Lender hereby absolutely, irrevocably and unconditionally assigns and sets over to the Senior Lender all of Junior Lender’s Plan Voting Rights in any Insolvency Proceeding respecting Borrower until such time as ninety-one (91) days have elapsed after the day on which the Senior Indebtedness has been repaid in full.

  • Subordinate Lender hereby absolutely, irrevocably, and unconditionally assigns and sets over to Senior Lender all of Subordinate Lender's Plan Voting Rights in any Insolvency Proceeding respecting Borrower.

  • Plan Voting Only the holders of Term Loan Claims, the Second Lien Claims, the Hedge Claims and the Statutory Lien Claims shall be entitled to vote on the Plan.