Examples of Scheme Creditors in a sentence
Notwithstanding the foregoing, prior to the appointment of the three Lender Directors, the Parent may issue equity interests in accordance with clause 13.12(g) of the scheme of arrangement between the Parent and the UDW Scheme Creditors (as defined therein) filed with the Cayman Registrar of Companies on September 15, 2017.
Upon completion of the Debt Restructuring, the claims of the Secured Creditor(s) who entered into a debt settlement agreement (i.e. Secured Creditor A) and Scheme Creditors (including Secured Creditor B and Secured Creditor C) against the Company (other than the normal operating liabilities incurred during the ordinary course of business operations of the Group, such as daily operating expenses and administrative expenses) will be discharged and released in full.
The Secured Creditors who enter into a Debt Settlement Agreement shall be excluded from participating in the Scheme as Scheme Creditors.
LFSL agrees to act as a trustee for each Scheme Creditor in relation to the Trust Assets only in accordance with the terms of this Scheme and acknowledges that with effect from the Effective Time, it shall at all times hold the Trust Assets on trust for the Scheme Creditors for distribution in accordance with the terms of this Scheme until the Trust Completion Date.
Pursuant to the Restructuring Agreement, the Secured Creditor(s) who enters into a debt settlement agreement will be excluded from participating in the Schemes as a Scheme Creditor(s).