Examples of Reorganized Holdco Board in a sentence
The Members of the Reorganized Holdco Board shall be appointed by the Supporting Common Interest Holders and the Consenting Term Lenders in accordance with the terms of the RSA and the members of the board of directors of any subsidiary of Reorganized Holdco shall be acceptable to the Supporting Common Interest Holders and the Required Consenting Term Lenders.
The members of the Reorganized Holdco Board and the officers, directors, and/or managers of each of the Reorganized Debtors will be identified in the Plan Supplement.
On the Effective Date, the Reorganized Holdco Board will consist of 6 members.
On the Effective Date, the MLP Board shall be reorganized (and all necessary documents executed) to provide the Supporting Common Interest Holders and Consenting Term Lenders with representation equal in number to such parties’ representation on the Reorganized Holdco Board; provided, however that the composition of the MLP Board shall comply in all respects with the MLP Organizational Documents, including with respect to independent directors.
In accordance with section 1129(a)(5) of the Bankruptcy Code, the identities and affiliations of the members of the Reorganized Holdco Board and any Person proposed to serve as an officer of Reorganized Holdco shall be disclosed at or before the Confirmation Hearing.
In addition, the Reorganized Holdco Board shall be appointed by the Supporting Common Interest Holders and the Consenting Term Lenders, with board seats commensurate with such groups’ Reorganized Holdco Interests ownership.