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.
The Debtors or Reorganized Entities, as appropriate, reserve their rights to amend or modify the Plan both before and after the Confirmation Date in accordance with the provisions of Section 1127 of the Bankruptcy Code.
Pro forma cash flow statements reflected in Exhibit 1 to this Disclosure Statement reflect that the Reorganized Entities will be able to generate revenues sufficient to fund all obligations under the Plan.
On and after the Effective Date, the future management of the Reorganized Entities will be comprised of the following individuals: Bradley Rixmann, President and Chief Executive Officer, Keith Kaestner, Chief Financial Officer, and Steve Caulfield Chief Operating Officer.
The terms of the Insider Leases are at or near market rates and the stores in those locations are forecasted to contribute to the projected success of the Reorganized Entities.
After the Effective Date, the Reorganized Entities will operate pawn and retail stores.
Except as provided for in this Plan, the Reorganized Entities shall not incur additional debt or enter into additional lease obligations without the express written consent of TBK Bank.
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”).
Pursuant to the terms of an Intercreditor agreement, TBK Bank and Capital Managers shall share pro-rata first priority security interest in all of the Reorganized Entities' assets, other than inventory and the Pawn Collateral, based upon the amount of the outstanding principal balance of each loan as of the date of the occurrence of an event of default under the New TBK Facility and on account of which default TBK Bank exercises any remedies.
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.