Examples of Put Parties in a sentence
The Litigation Trust Loan shall be evidenced by a note payable by the Litigation Trust to Reorganized Casino and such other appropriate documentation to evidence the Litigation Trust Loan, the forms of which shall be included in the Plan Supplement and reasonably acceptable in form and substance to the Put Parties.
On the Effective Date, Reorganized Greektown shall pay all reasonable fees and expenses of all counsel and financial advisors to the Put Parties and to the Ad Hoc Lender Group, and to the Indenture Trustee that have not been previously paid by the Debtors.
Put Parties and Holders of Allowed Bond Claims who participate in the Rights Offering may receive all of their Rights Offering Securities in Rights Offering Shares if, within fifteen (15) days prior to the Effective Date, such parties provide documentation in the manner described and within the time required in the Effective Date Notice that they are MGCB Qualified.
For certain tax reasons, the Plan also provides the option for Holders of Allowed Bond Claims and the Put Parties who participate in the Rights Offering to elect to receive a maximum of 9.9% of the total combined voting power of all classes of stock of Newco entitled to vote.
In accordance with the Purchase and Put Agreement, the Put Parties have committed to purchase at the Preferred Rights Offering Price the aggregate principal amount of Rights Offering Securities, not otherwise subscribed for in the Rights Offering.
Put Parties and Holders of Allowed Bond Claims who participate in the Rights Offering and who are not MGCB Qualified may receive Rights Offering Shares representing up to 14.9% of the Total Equity Shares of Newco if such parties provide documentation in the manner described and within the time required in the Effective Date Notice that they have received Institutional Investor waivers within the meaning of the Gaming Act and related rules.
The allocation of the tax basis in a Holder’s Allowed Claim in Classes 3 and 13 among the separate consideration received by such Holder will be based on their fair market values and will be determined by the Put Parties in good faith.
Pursuant to the Letter Agreement described above, the Put Parties and the Ad Hoc Lender Group have agreed subject to the terms and conditions contained therein to purchase the full issuance of New Senior Secured Notes.
The tax characterization and the tax reporting of the restructuring transactions will be determined in the sole discretion of the Put Parties.
To date, Greektown has not obtained the City’s consent to a transfer either to Newco or the Holders of Bond Claims and Put Parties.