Corporate Reorganizations. The Debtor shall be authorized to carry out any corporate reorganization necessary for the implementation of this Plan, subject to the prior written approval of the Covered Creditors holding at least a majority of the Senior Secured Claims under the Senior Debt Facilities, including, but not limited to, consolidations, mergers, mergers of shares, spin-offs, conversions, liquidation, incorporation of new companies, contributions of assets (including Debtor shares) in capital increases of existing or newly incorporated companies, assignments of claims, or transfer of assets, obligations and loans (including through capital reductions), provided that, in any case, cumulatively, (i) it is implemented in order to optimize capital structure or reduce costs; (ii) it does not materially adversely impact the rights of Covered Creditors under the Plan; (iii) it is necessary or convenient for the implementation of the Plan; (iv) it does not materially adversely impact or delay the implementation of the Plan; and (v) it does not adversely impact the value of the assets of the Debtor or increases the
