Examples of Reorganized Board in a sentence
The members of the Reorganized Board will be designated in accordance with the Plan Supplement.
The identity and affiliations of the persons proposed to serve as members of the initial Reorganized Board were disclosed in the Plan Supplement, and the appointment to, or continuance in, such positions of such persons is consistent with the interests of creditors and equity security holders and with public policy.
The Plan Documents contain provisions regarding the manner of selection of the initial Reorganized Board and officers of the Consolidated Debtors, and any successors to such directors that are consistent with the interests of creditors, equity security holders, and public policy in accordance with section 1123(a)(7) of the Bankruptcy Code.
The identity of the initial Reorganized Board and the initial Chair of the Reorganized Board shall be disclosed in the Plan Supplement.
The existing officers of the Debtors as of the Effective Date shall remain in their current capacities as officers of the Reorganized Debtors, subject to their right to resign and the ordinary rights and powers of the Reorganized Board to remove or replace them in accordance with the New Governance Documents and any applicable employment agreements that are assumed pursuant to the Plan.