Restructuring Heads of Terms definition

Restructuring Heads of Terms means the heads of terms for the proposed out of court restructuring of the Company and the Group signed by the Co-ordinating Committee, certain of the Charterparty Owners and Bareboat Owners and the Company and dated 29 March 2012.
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Examples of Restructuring Heads of Terms in a sentence

  • The Company anticipates that the restructuring of the Notes and the PXF Facilities contemplated by the Non-Binding Restructuring Heads of Terms will be implemented on or prior to 30 September 2016 and, in any event, by 30 November 2016 at the latest.

  • The Non-Binding Restructuring Heads of Terms were agreed between the Company, the Noteholder Committee and the PXF Co-ordinating Committee on 24 May 2016.

  • If the Company is successful in agreeing, documenting and implementing a consensual restructuring with its Noteholders and the PXF Lenders on the basis set out in the Non-Binding Restructuring Heads of Terms, the Company anticipates that it will be able to repay the full amount due to its creditors in accordance with the terms of the Non-Binding Restructuring Heads of Terms.

  • A non-binding heads of terms for a restructuring of the Notes and the PXF Facilities (as defined below) (the Non-Binding Restructuring Heads of Terms) has now been agreed (see paragraph 18 below and Appendix 1).

  • A reconciliation of our adjusted financial measures to their GAAP equivalents is included on page 9 of this release.

  • Pursuant to the Scheme, each Scheme Creditor agrees that the First Moratorium Scheme Capitalised Interest shall not be due and payable until the Termination Date or, if a restructuring contemplated by the Non-Binding Restructuring Heads of Terms is implemented and becomes effective, shall be included in the principal amount of the new notes to be issued thereunder and shall be payable on the dates and in the manner set out in the definitive documentation in relation to such restructuring.

  • Accordingly, in relation to the Notes and the Scheme, the expected timetable of principal events is set out on page 16 of this Explanatory Statement and the anticipated effective date for the Scheme is 30 June 2016.If the Company and the Group are unable to maintain a stable platform during the period of documentation and implementation of the restructuring proposal set out in the Non-Binding Restructuring Heads of Terms it is likely that the Group will need to suspend part or all of its operations.

  • New subordination arrangements will be put in place in relation to the Notes and the Scheme (see Part B – (Overview of the Scheme) and Part D – (The Scheme)) and in relation to the PXF Facilities and the extension to the PXF Standstill Extension.The Non-Binding Restructuring Heads of TermsOn 24 May 2016 the Company agreed the Non-Binding Restructuring Heads of Terms with the Noteholder Committee and the PXF Co-ordinating Committee.

  • A vote in favour of or against the Scheme is not a vote in favour of or against the Non-Binding Restructuring Heads of Terms which are appended to Scheme.

  • Each Scheme Creditor agrees that the First Moratorium Scheme Capitalised Interest shall not be due and payable until the Termination Date or, if a restructuring contemplated by the Non-Binding Restructuring Heads of Terms is implemented and becomes effective, on the dates and in the manner set out in the definitive documentation in relation to such restructuring.

Related to Restructuring Heads of Terms

  • Restructuring Term Sheet means that certain term sheet attached as Exhibit B to the Restructuring Support Agreement.

  • Restructuring Documents means, collectively, the documents and agreements (and the exhibits, schedules, annexes and supplements thereto) necessary to implement, or entered into in connection with, this Plan, including, without limitation, the Plan Supplement, the Exhibits, the Plan Schedules, the Amended/New Organizational Documents, the Exit Facility Loan Documents, and the Plan Securities and Documents.

  • Restructuring Costs means the costs, including both direct and indirect, of restructuring activities. Restructuring costs that may be allowed include, but are not limited to, severance pay for employees, early retirement incentive payments for employees, employee retraining costs, relocation expense for retained employees, and relocation and rearrangement of plant and equipment. For purposes of this definition, if restructuring costs associated with external restructuring activities allocated to DoD contracts are less than $2.5 million, the costs shall not be subject to the audit, review, and determination requirements of paragraph (c)(4) of this subsection; instead, the normal rules for determining cost allowability in accordance with FAR Part 31 shall apply.

  • Restructuring Date means the date on which a Restructuring is legally effective in accordance with the terms of the documentation governing such Restructuring.

  • Restructuring Expenses means losses, expenses and charges incurred in connection with restructuring by U.S. Borrower and/or one or more of its Subsidiaries, including in connection with integration of acquired businesses or persons, disposition of one or more Subsidiaries or businesses, exiting of one or more lines of businesses and relocation or consolidation of facilities, including severance, lease termination and other non-ordinary-course, non-operating costs and expenses in connection therewith.

  • Initial Term Loans means the term loans made by the Lenders on the Closing Date to the Borrower pursuant to Section 2.01(a).

  • Restructuring Transactions means the transactions described in Article IV.B of the Plan.

  • Restructuring Agreement shall have the meaning set forth in the recitals.

  • Restructuring Plan means the Restructuring Plan attached hereto as Schedule 1.1.

  • Restructuring Charges means any charges or expenses in respect of restructuring or consolidating any business, operations or facilities, any compensation or headcount reduction, or any other cost savings, of any Persons or businesses either alone or together with the Company or any Restricted Subsidiary, as permitted by GAAP or Regulation S-X under the Securities Act.

  • Restructuring Effective Date has the meaning set out in the Restructuring Implementation Deed;

  • Term Sheets means any ABS Term Sheets, Structural Term Sheets and/or Collateral Term Sheets.

  • Restructuring Support Agreement means that certain Restructuring Support Agreement, dated as of August 18, 2020, by and among the Debtors and the Consenting Noteholders, and the other parties who signed the signature pages thereto, including all exhibits and attachments thereto.

  • Restructuring has the meaning set forth in the Recitals.

  • Restructuring Period means, whether or not there are Rated Securities at the time a Restructuring Event occurs, the period of 45 days starting from and including the day on which that Restructuring Event occurs.

  • Restructuring Transaction means a tax free distribution under section 355 of the internal revenue code and includes tax free transactions under section 355 of the internal revenue code that are commonly referred to as spin offs, split ups, split offs, or type D reorganizations.

  • Restructuring Transactions Memorandum means a document, to be included in the Plan Supplement, that sets forth the material components of the Restructuring Transactions and a description of the steps to be carried out to effectuate the Restructuring Transactions in accordance with the Plan, including the reorganization of the Debtors and issuance of the New Valaris Equity, through the Chapter 11 Cases, the Plan, or any Implementation Mechanism (including, in the United Kingdom, through the Administration).

  • Acquisition Agreements means the Nexstar Acquisition Agreement and the Mission Acquisition Agreement, and “Acquisition Agreement” means the applicable agreement in the context used.

  • Original Term Loans means the "Term Loans" under, and as defined in, the Original Credit Agreement.

  • VIE Agreements means the Exclusive Service Agreement, the Exclusive Call Option Agreement, the Shareholder Voting Rights Proxy Agreement and the Equity Pledge Agreement entered into by and among some or all of the Parties hereto on the same day this agreement is entered, including any supplemental agreements or amendments to such agreements, and any other agreements, contracts or legal documents executed or issued by one or more Parties and/or Party C’s affiliated enterprises from time to time to ensure the performance of the aforesaid agreements, signed or accepted by Party A in writing.

  • Commitment Letters has the meaning set forth in Section 4.5(b).

  • Extended Term Loans has the meaning specified in Section 2.15(a).

  • Commitment Letter has the meaning set forth in Section 5.7.

  • Investment Agreements or “Flow-Through Agreements” means written agreements pursuant to which the Partnership will subscribe for Flow-Through Shares (including Flow-Through Shares issued as part of a unit) or agreements by the Partnership to otherwise invest in or purchase securities of a Resource Issuer, and in respect of Flow-Through Shares comprised of units, the Resource Issuer will covenant and agree: