Successful Restructuring definition

Successful Restructuring means any restructuring, reorganization and/or recapitalization of all or a significant portion of the Company’s outstanding indebtedness (including bank debt, inclusive of letters of credit, bond debt, and other on and off balance sheet indebtedness, trade claims, leases (both on and off balance sheet) and other litigation-related claims and obligations, unfunded pension and retiree medical liabilities, or other liabilities (collectively, the “Existing Obligations”) that is achieved, without limitation, through (i) a solicitation of waivers and consents from the holders of all or a significant portion of the Existing Obligations; (ii) rescheduling of the maturities of all or a significant portion of the Existing Obligations; (iii) a change in interest rates; (iv) repurchase, settlement or forgiveness of all or a significant portion of the Existing Obligations; (v) conversion of all or a significant portion of the Existing Obligations into equity; (vi) an exchange offer involving the issuance of new securities in exchange for all or a significant portion of the Existing Obligations; (vii) the issuance of new securities; (viii) the sale or disposition of existing securities or assets; and/or (ix) other similar transaction or series of transactions; provided, however, that in the event the restructuring, reorganization and/or recapitalization of all or a significant portion of the Existing Obligations is to be accomplished through a filing by the Company pursuant to Chapter 11 of the United States Bankruptcy Code, a Successful Restructuring shall be deemed to occur only upon, prior to any such filing, (A) the receipt of votes sufficient to confirm a plan of reorganization pursuant to the United States Bankruptcy Code providing for the restructuring, reorganization and/or recapitalization; or (B) the entry by the Company into a lockup or similar agreement or agreements providing for votes sufficient to confirm a plan of reorganization pursuant to the United States Bankruptcy Code providing for the restructuring, reorganization and/or recapitalization.
Sample 1
Successful Restructuring means: (i) the achievement by Company of discounts or reductions negotiated with the lenders and landlords of the Company; and/or, (ii) the raising by Company of equity capital in the Company; provided such discounts, reductions and/or equity capital are sufficient, in the aggregate, to enable the Company to meet all of its obligations and liabilities throughout the twenty-four (24) month period commencing on August 30, 2001.
Sample 1
Successful Restructuring means: (i) the achievement by Employee of discounts or reductions negotiated with the lenders and landlords of the Company; and/or, (ii) the raising by Employee of equity capital in the company: provided such discounts, reductions and/or equity capital are sufficient, in the aggregate, to enable the Company to meet all of its obligations and liabilities throughout the twenty-four (24) month period commencing from the date of this Agreement. The Incentive Bonus shall be due and payable immediately upon the execution of Letters of Intent/Term Sheets evidencing the 2 terms and conditions of the restructuring and/or equity capital transaction.
Sample 1

Examples of Successful Restructuring in a sentence

  • If, during the Employment Period and for a period of 180 days following the Date of Termination, the Company consummates a Successful Restructuring, the Company shall pay Executive a cash bonus as provided in this Section 4(e).

  • For greater certainty, the parties agree that the Company shall have no obligations to make any payment under this Section 6(c) if a Successful Restructuring is not achieved by Employee on or before September 30, 2001.

  • McAlinden, Debra Maranger Menk, “The Effect on the U.S. Economy of the Successful Restructuring of General Motors”, CAR Research Memorandum, Center for Automotive Research, December 5, 2013, describing the effects of a scenario where General Motors was not rescued, and suppliers were bankrupted in a cascading effect, with estimated job losses of 1.2 million.

  • Such records could be used to make future HR related decisions.Table 4:Documenting Employee Performance for Successful Restructuring Category4.5 Aligning Individual Activities with Strategic Business ObjectivesWhen the respondents were asked whether they aligned individual objectives with strategic business objectives during restructuring, 42% agreed, 20% disagreed, 16% strongly disagreed and 13% strongly agreed.

  • Employee shall be entitled to a cash payment in the amount of $500,000 upon the achievement (evidenced by duly executed documentation) by Employee of a Successful Restructuring on or before September 30, 2001.

  • If any provision of this Lease or the application thereof to any person or circumstances shall be invalid or -unenforceable to any extent, the application of such provisions to other persons or circumstances and the remainder of this Lease shall not be affected thereby and shall be enforced to the greatest extent permitted by law.

  • Subject to Section 2.2(a) and Section 2.2(c), in the event of the Company’s Successful Restructuring during the Performance Period, each Participant shall receive an amount equal to one hundred percent (100%) of the Participant’s Target Long-Term Incentive.

  • Participants in the Program shall consist of (i) such Executive Officers as the Committee in its sole discretion may select from time to time and (ii) such other employees of the Company and its subsidiaries and affiliates as the Chief Executive Officer in his sole discretion may select from time to time, based on a determination that such employees are critical to a Successful Restructuring.

  • Principles for Successful Restructuring of Public BanksThe best experiences with restructuring plans include a clear, specific timetable and the following pillars:Financial restructuringThe purpose of financial restructuring is to restore solvency (net assets) by rehabilitating and strengthening banks’ balance sheets.• Existing and new fit-and-proper private shareholders should be asked to contribute to recapitalization through cash injection.

  • For purposes of this paragraph, a "Successful Restructuring" means: (i) the achievement by Company of discounts or reductions negotiated with the lenders and landlords of the Company; and/or, (ii) the raising by Company of equity capital in the Company; provided such discounts, reductions and/or equity capital are sufficient, in the aggregate, to enable the Company to meet all of its obligations and liabilities throughout the twenty-four (24) month period commencing on August 30, 2001.


More Definitions of Successful Restructuring

Successful Restructuring means a restructuring or refinancing of substantially all of the Company's funded debt and other debt obligations reflected as liabilities on the Company's balance sheet in a bankruptcy proceeding or out of court proceeding, in either case in which a majority of the members of the Company's Board of Directors approve such refinancing or restructuring and (A) which has the effect of reducing the outstanding principal balance of such debt and debt obligations or reducing the Company's cash debt service requirements in respect of such debt and debt obligations and (B) in which all of the holders of the Company's outstanding equity immediately prior to such restructuring or refinancing receive (i) an aggregate equity interest, or other debt or equity security or other right that is convertible or exchangeable into an aggregate equity interest, in the Company following such restructuring or refinancing or (ii) cash or non-convertible debt securities with a value equivalent to such equity interest (the "Post Restructuring Equity Percentage"). The Reorganization Bonus will be (i) $900,000 if the Post Restructuring Equity Percentage is greater than 1% but less than 10% on a fully diluted basis and (ii) $1,200,000 if the Post Restructuring Equity Percentage is 10% or more on a fully diluted basis.
Sample 1
Successful Restructuring means: (i) the achievement by Employee of discounts or reductions negotiated with the lenders and landlords of the Company: and/or, (ii) the raising by Employee of equity capital in the Company; provided such discounts, 5 -5- reductions and/or equity capital are sufficient, in the aggregate, to enable the Company to meet all of its obligations and liabilities throughout the twenty four (24) month period commencing from the date of this Agreement. For greater certainty, the parties agree that the Company shall have no obligations to make any payment under this Section 6(c) if a Successful Restructuring is not achieved by Employee on or before September 30, 2001.
Sample 1

Related to Successful Restructuring

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

  • Pre-Closing Restructuring has the meaning specified in Section 6.14(a).

  • Equity Restructuring means a nonreciprocal transaction between the Company and its stockholders, such as a stock dividend, stock split, spin-off, rights offering or recapitalization through a large, nonrecurring cash dividend, that affects the number or kind of Shares (or other securities of the Company) or the share price of Common Stock (or other securities) and causes a change in the per-share value of the Common Stock underlying outstanding Awards.

  • Restructuring Event means the occurrence of any one or more of the following events:

  • Financing Transaction means a transaction in which a licensed provider obtains financing from a financing entity including any secured or unsecured financing, any securitization transaction, or any securities offering which is either registered or exempt from registration under federal and state securities law.

  • 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).

  • 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.

  • Roll-Up Transaction means a transaction involving the acquisition, merger, conversion or consolidation either directly or indirectly of the Company and the issuance of securities of a Roll-Up Entity to the holders of Common Shares. Such term does not include:

  • Financing Transactions means the execution, delivery and performance by each Loan Party of the Loan Documents to which it is to be a party, the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder.

  • Change of Control Transaction means the occurrence after the date hereof of any of (a) an acquisition after the date hereof by an individual or legal entity or “group” (as described in Rule 13d-5(b)(1) promulgated under the Exchange Act) of effective control (whether through legal or beneficial ownership of capital stock of the Company, by contract or otherwise) of in excess of 33% of the voting securities of the Company (other than by means of conversion or exercise of the Debentures and the Securities issued together with the Debentures), (b) the Company merges into or consolidates with any other Person, or any Person merges into or consolidates with the Company and, after giving effect to such transaction, the stockholders of the Company immediately prior to such transaction own less than 66% of the aggregate voting power of the Company or the successor entity of such transaction, (c) the Company sells or transfers all or substantially all of its assets to another Person and the stockholders of the Company immediately prior to such transaction own less than 66% of the aggregate voting power of the acquiring entity immediately after the transaction, (d) a replacement at one time or within a three year period of more than one-half of the members of the Board of Directors which is not approved by a majority of those individuals who are members of the Board of Directors on the Original Issue Date (or by those individuals who are serving as members of the Board of Directors on any date whose nomination to the Board of Directors was approved by a majority of the members of the Board of Directors who are members on the date hereof), or (e) the execution by the Company of an agreement to which the Company is a party or by which it is bound, providing for any of the events set forth in clauses (a) through (d) above.

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

  • Refinancing Transactions means the transactions described under “Summary—The Refinancing Transactions” in the Offering Memorandum.

  • Restructuring Support Agreement has the meaning set forth in the Recitals.

  • M&A Transaction means (a) a transaction in which all or substantially all of the assets to which the subject matter of this Agreement relates are acquired by or assigned to party that is not an Affiliate, or (b) a sale of all or substantially all of the share capital of BioLine (or its Affiliates), (c) the merger of BioLine (or its Affiliates) with any other entity, or any other similar corporate action, except an internal reorganization of BioLine (or its Affiliates) for tax-related reasons otherwise.

  • Factoring Transaction means any transaction or series of transactions that may be entered into by the Issuer or any Restricted Subsidiary pursuant to which the Issuer or such Restricted Subsidiary may sell, convey, assign or otherwise transfer Receivables Assets (which may include a backup or precautionary grant of security interest in such Receivables Assets so sold, conveyed, assigned or otherwise transferred or purported to be so sold, conveyed, assigned or otherwise transferred) to any Person that is not a Restricted Subsidiary; provided that any such Person that is a Subsidiary meets the qualifications in clauses (1) through (3) of the definition of “Receivables Subsidiary.”

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

  • Non-Control Transaction means a merger, consolidation or reorganization of the Company where:

  • Restructuring has the meaning set forth in the Recitals.

  • Terminating Capital Transaction means any sale or other disposition of all or substantially all of the assets of the Partnership or a related series of transactions that, taken together, result in the sale or other disposition of all or substantially all of the assets of the Partnership.

  • Void Transaction means any transaction wherein the transaction has taken place but has been cancelled /rejected /unsuccessful by the Alliance Partner.

  • Change in Control Transaction means the occurrence of any of the following events:

  • SPAC Transaction means a transaction or series of related transactions by merger, consolidation, share exchange or otherwise of the Company with a publicly traded “special purpose acquisition company” or its subsidiary (collectively, a “SPAC”), immediately following the consummation of which the common stock or share capital of the SPAC or its successor entity is listed on the Nasdaq Stock Market, the New York Stock Exchange or another exchange or marketplace approved by the Board of Directors, including a majority of the Preferred Directors.

  • Significant Transaction means a transaction which meets any one of the tests below:

  • Permitted Restructuring means the completion of: (a) an offer made by, or on behalf of, an Eligible Company to all (or as nearly as may be practicable all) of the shareholders of the Issuer (or, if the Issuer is not then the Ultimate Owner, to the shareholders of the then Ultimate Owner) to acquire the whole (or as nearly as may be practicable the whole) of the issued ordinary share capital of the Issuer (or, if the Issuer is not then the Ultimate Owner, the then Ultimate Owner’s issued ordinary share capital) other than those already held by or on behalf of such Eligible Company; or (b) a reorganisation or restructuring whether by way of a scheme of arrangement or otherwise pursuant to which an Eligible Company acquires all (or as nearly as may be practicable all) of the issued ordinary share capital of the Issuer (or, if the Issuer is not then the Ultimate Owner, the then Ultimate Owner’s issued share capital) other than those already held by such Eligible Company or pursuant to which all (or as nearly as may be practicable all) of the issued ordinary share capital of the Issuer (or if the Issuer is not then the Ultimate Owner, the then Ultimate Owner’s issued capital) not held by the New Holding Company is cancelled;

  • Control Transaction means the acquisition by a person or group of the status of a controlling person.[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]