Examples of Settlement and Plans Support Agreement in a sentence
However, an appeal was brought against the Canadian plan of arrangement in the Ontario Court of Appeal meaning that it has not yet become "final" for the purposes of the Settlement and Plans Support Agreement.
On October 12, 2016, the Debtors filed a Notice of Execution of Settlement and Plans Support Agreement [D.I. 17249] that attached a Settlement and Plans Support Agreement dated October 12, 2016 (the “SPSA”), which contemplated the resolution of the allocation dispute and other matters in accordance with the terms and subject to the conditions set forth therein.
Once these orders are no longer subject to an appeal or stay (and one other condition of the Settlement and Plans Support Agreement is waived, see paragraph 9.12 of Annex 21 (Background to the Nortel Group insolvency proceedings)), the Plans Effective Date will occur, allowing release of funds from the Lockbox.6.7 The Plans Effective Date was anticipated to occur in February 2017.
Subject to this Proposal being approved, the Expense Application resulting in an order which has the effect of barring certain Administration Expense claims from being paid in priority to CVA Claims and the conditions of the Settlement and Plans Support Agreement being met such that the Sale Proceeds held in the Lockbox are released, the Administrators consider that CVA Creditors are likely to receive an initial distribution in Autumn 2017.
The global settlement is documented in the Settlement and Plans Support Agreement which will become fully effective on the occurrence of the Plans Effective Date.
Pursuant to the Expense Application, Administration Expense claims received on or before the later of 13 September 2017 or the date 12 weeks after the date of receipt by the Administrators of the Companies' allocation under the Settlement and Plans Support Agreement (the " Specified Date") would be payable in priority to any distributions under the CVA.
On October 12, 2016, the Debtors filed a Notice of Execution of Settlement and Plans Support Agreement [D.I. 17249] that attached a Settlement and Plans Support Agreement dated October 12, 2016 (the “SPSA”), that contemplated the resolution of the allocation dispute and other matters in accordance with the terms and subject to the conditions set forth therein.
The global settlement is documented in the Settlement and Plans Support Agreement, which will become fully effective on the occurrence of the Plans Effective Date.
See e.g. In re Nortel Networks Inc., Order (Recognition of U.S. Chapter 11 Plan Confirmation order and U.S. Settlement and Plans Support Agreement Approval Order), Court File No. 09-Cl-7951 (including excerpt from para.
The Debtors, on October 12, 2016, filed their Notice of Execution of Settlement and Plans Support Agreement [D.I. 17249].12.