Confirmation Date Clause Samples

Confirmation Date. The effectiveness of Section 2.5 and Article III of this Agreement shall be subject, in addition to the satisfaction of the conditions listed in Section 1.3, to the condition that the Confirmation Date shall have occurred.

Confirmation Date. The date on which the Bankruptcy Court enters the Confirmation Order on its docket, within the meaning of Bankruptcy Rules 5003 and 9021.

Confirmation Date. The confirmation date shall 30 (THIRTY) days from date of signature of the offer by the Purchaser.

Confirmation Date. (a) The Project Companies will remain debtors-in-possession in the Chapter 11 Cases until the New York Debtors Effective Date (as such term is defined in the Plan). Until the New York Debtors Effective Date, this Agreement and the Parties’ rights and obligations hereunder shall be subject to the jurisdiction of the Bankruptcy Court. In the event this Agreement and/or the Parties’ rights and/or obligations hereunder are deemed to be inconsistent with any determination made by the Bankruptcy Court in the Chapter 11 Cases, the Bankruptcy Court’s determination shall prevail. (b) Notwithstanding any other provisions contained in this Agreement, the Project Companies acknowledge and agree that they will not oppose administrative expense treatment under 11 U.S.C. § 503(b)(1)(A) for any unpaid amounts owing by Project Companies under this Agreement, provided that such unpaid amounts become due and owing prior to the New York Debtors Effective Date. (c) Notwithstanding any other provision of this Agreement, until the New York Debtors Effective Date, the Chapter 11 Cases shall not constitute an Event of Default under this Agreement with respect to the Project Companies; provided, however, in the event that (a) Project Company files a motion or request to convert its Chapter 11 Case to a Chapter 7 proceeding; or (b) the Bankruptcy Court enters an order converting either Project Company’s case from a Chapter 11 proceeding to a Chapter 7 proceeding, either such event (a) or (b) shall constitute an Event of Default under this Agreement with respect to such Project Company. (d) Each Party represents, warrants and covenants that: (i) The Parties have negotiated and entered into this post-petition Agreement in the ordinary courses of their respective businesses, in good faith, for fair consideration and on an arm’s length basis; (ii) Neither Party shall attempt to effect any right of set-off with respect to this such post-petition Agreement and any pre-petition obligations; (iii) One of the purposes of this Agreement is to preserve, maintain and enhance its business; and (iv) The terms and conditions of this Agreement are fair and reasonable and reflect its exercise of prudent business judgment consistent with its fiduciary duties as a debtor-in-possession and are supported by fair consideration and reasonably equivalent value in money or money’s worth.

Confirmation Date. Clearance by BBC Commercial Rights Department (CRD)