Examples of Series B Preferred Interests in a sentence
Class 7 is Impaired by the Plan, and the holders of the Allowed Series B Preferred Interests are conclusively deemed to have rejected the Plan pursuant to section 1126(g) of the Bankruptcy Code.
In connection with the shares of New Common Stock to be issued pursuant to the Plan in exchange for Series B Preferred Interests or Common Interests in the Debtor existing and outstanding immediately prior to 4:00 p.m., prevailing Eastern Time, on the Effective Date, the Reorganized Debtor need not provide any further evidence to DTC other than the Plan or the Confirmation Order.
Holders of Series B Preferred Interests in EIC are not entitled to vote to accept or reject the Plan.
Holders of Series B Preferred Interests in EIC shall not receive or retain any property under the Plan on account of such Interests.
For purposes of clarity regarding the preceding sentence, if Aleris owes Damages of $2 million after taking into account the provisions and limitations set forth in Section 9.04 of the Purchase and Sale Agreement that would have been satisfied by reducing the Series B Preferred Interests as specified above, Aleris will have no obligation to make a cash payment and there remains another $26 million eligible to reduce (as specified above) future indemnification obligations that Aleris otherwise would have.
Therefore, the holders of Series B Preferred Interests are not entitled to vote to accept or reject the Plan.
The Partnership hereby designates and authorizes the issuance of Series B 10% Payment-In- Kind Preferred Limited Partner Interests ("Series B Preferred Interests").
The Series B Preferred Interests shall be subordinated in right of payment to all indebtedness of the Partnership.
Treatment: On the Effective Date, and in accordance with the Restructuring Transactions described in Section V.G.18 of this Disclosure Statement, all Series B Preferred Interests in EIC shall be extinguished.
On the Effective Date, in accordance with Section 4 of the Plan, and pursuant to the Merger Agreement, the Series C Preferred Interests in EIC, the Series B Preferred Interests in EIC, and the Interests in EIC shall be extinguished for no consideration.