Examples of Reorganized PSI in a sentence
Subject to the requirements of section 1129(a)(5) of the Bankruptcy Code, the Debtors intend to announce prior to the Confirmation Date the identities of the individuals proposed to serve as officers of the Reorganized Debtors and the directors of Reorganized PSC (if the Canadian Reorganization Plan is sanctioned) or Reorganized PSI (if the Alternate Canadian Transactions are implemented or the Canadian Plan Condition is waived).
No fractional shares of New Common Shares or Reorganized PSI Common Shares shall be issued or distributed under the Plan.
The new board of directors for Reorganized PSC (if the Canadian Reorganization Plan is sanctioned) or Reorganized PSI (if the Alternate Canadian Transactions are implemented or if the Canadian Plan Condition is waived) will consist of nine (9) directors, who will be nominated by holders of Lender Claims.
Each Person entitled to receive New Common Shares will receive the total number of whole shares of New Common Shares or Reorganized PSI Common Shares to which such Person is entitled.
If the Canadian Plan Condition is waived, an amount of New Unsecured PIK Notes and the amount of Reorganized PSI Common Shares equivalent to the amount of New Common Shares that would be distributed to the holders of Canadian Impaired Unsecured Claims under the Canadian Reorganization Plan (assuming all such Claims will be allowed) shall be held by the Disbursing Agent pending the implementation of the Canadian Reorganization Plan or the Alternate Canadian Transactions.
Notwithstanding anything herein to the contrary, if not previously authorized by or subject to separate Court Order, PSI (or Reorganized PSI as the case may be) shall reject the Kilroy Building Five Lease on the later of the Effective Date or July 31, 2003.
If the Alternate Canadian Transactions are implemented, any holder of an Allowed Canadian Impaired Unsecured Claim that makes the U.S. Plan Election shall receive a distribution of New Unsecured PIK Notes and Reorganized PSI Common Shares identical to that which a holder of an Allowed Class 7 Claim of equal amount would be entitled.
Whenever any distribution to a particular Person would otherwise call for distribution of a fraction of a share of New Common Shares or Reorganized PSI Common Shares, the actual distribution of shares of such stock shall be rounded to the next higher or lower whole number as follows: (a) fractions 1/2 or greater shall be rounded to the next higher whole number, and (b) fractions of less than 1/2 shall be rounded to the next lower whole number.
Notwithstanding the foregoing, in the event that (i) Reorganized PSI determines to extend the Final Stock Adjustment Distribution Date for an additional year (i.e., until the 90th day after the three-year anniversary of the Effective Date), and (ii) Reorganized PSI, the Stock Disbursing Agent, and/or the Post-Emergence Equity Committee cannot agree as to the final allocation and distribution of any remaining Reserved New PSI Common Stock, any such disputes shall be resolved by the Bankruptcy Court.
On the Effective Date, Reorganized PSC (if the Canadian Reorganization Plan is sanctioned) or Reorganized PSI (if the Alternate Canadian Transactions are implemented or if the Canadian Plan Condition is waived) shall implement the Shareholder Rights Plan.