Examples of Reorganized Entities in a sentence
All Proofs of Claim Filed on account of an employee benefit shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent the Reorganized Entities elect to honor such employee benefit, without any further notice to or action, order, or approval of the Bankruptcy Court.
All Claims Filed on account of an employee benefit shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent the Reorganized Entities elect to honor such employee benefit, without any further notice to or action, order, or approval of the Bankruptcy Court.
Neither the Debtors nor Bradley Rixmann will contribute any funds to Capital Managers, LLC for the issuance of new equity in the Reorganized Entities.
The advance rates under the New TBK Facility shall be calculated as follows: TBK's CollateralThe Reorganized Entities shall maintain a joint deposit account with TBK Bank with a minimum balance of $150,000.00.
On or before the Effective Date, the Debtors and/or the Reorganized Entities shall pay down TBK's allowed Class A1 Claim to the lesser of:(i) $6,500,000 or (ii) the sum of 70% of the Eligible Pawn Loans and Eligible Pawn Service Charges, as defined in the loan documents (the “TBK Pay Down”).
In the exercise of their sound business judgment, the Debtors believe that continuing operations at the store locations under the assumed Insider Leases and assuming the personal property lease identified in Exhibit 5 will benefit the Reorganized Entities.
In addition to the equity contribution described in the preceding subsection, Capital Managers, LLC shall also provide the Reorganized Entities with access to operating capital in the form of a secured revolving loan facility, the maximum balance of which shall not exceed$2,029,000 (the "Capital Managers Facility").
Such projections indicate that the Reorganized Entities are expected to generate revenues sufficient to fund all obligations under this Plan.
On the Effective Date, TBK will amend and restate its Pre-petition Loan Agreement, which will provide for a line of credit with a forty-two (42) month term (the "New TBK Facility"), which will be evidenced by documents to be negotiated between TBK Bank and the Reorganized Entities.
The equipment lessor has agreed to rent or payment reductions, and other concessions that will improve the financial viability of the respective store location and the overall likelihood of a successful reorganization of the Reorganized Entities.