Examples of Reorganized Foresight in a sentence
The level of unsupported borrowing is some £3.0m lower than assumed in the 2008/09 budget report largely reflecting some re-profiling in the programme and the use of additional revenue resources applied in the year (see paragraph 6.3 below).
On the Effective Date, all FELP Common LP Units, FELP Subordinated LP Units, and certain other Interests in other Debtors, shall be cancelled or contributed to Reorganized Foresight or an Affiliate thereof and Reorganized Foresight shall issue the New Common Equity to Holders of Allowed Claims entitled to receive the New Common Equity pursuant to Article II and Article III hereof.
The Plan will provide that Reorganized Foresight will (a) assume certain employment and retention agreements, incentive plans, and compensation and severance plans to be determined by the Company with the reasonable consent of the Required First Lien Lenders, and (b) honor all obligations related thereto.
Supreme Court decision in the Azadi Bachao Andolan case will stand overridden.
The First Lien Exit Facility will be issued by Reorganized Foresight or a subsidiary thereof, as borrower, and guaranteed by each of the other Reorganized Debtors.
Though the Debtors have not yet determined precisely what form the ultimate Restructuring Transactions implemented under the Plan will take, the Debtors currently expect that these Restructuring Transactions will be effected in a manner that would be treated as a taxable transfer of substantially all of the Debtors’ assets to Reorganized Foresight for U.S. federal income tax purposes.
The Exit Facility will be issued by Reorganized Foresight and guaranteed by each of the other Reorganized Debtors and shall comprise a new senior secured first-priority term loan facility in an aggregate principal amount of up to $225,000,000.00.
The initial issuance of incentive awards under the Management Incentive Plan shall be determined by the Required First Lien Lenders in consultation with (i) a compensation consultant reasonably acceptable to the Required First Lien Lenders and(ii) the Chief Executive Officer of the Reorganized Foresight, with subsequent grants to be determined by the New Board of Reorganized Foresight.
The New Board of Reorganized Foresight willadopt a management incentive plan reserving up to 10% of the New Common Equity on a fully diluted basis (the “Management Incentive Plan”), to be available for issuance pursuant to equity or equity-based incentive awards to management and other key employees of the Reorganized Debtors, as described in the Plan Supplement.
The New Board of Reorganized Foresight will adopt a management incentive plan reserving up to 10% of the New Common Equity on a fully diluted basis (the “Management Incentive Plan”), to be available for issuance pursuant to equity or equity-based incentive awards to management and other key employees of the Reorganized Debtors, as described in the Plan Supplement.