DEBT REALIGNMENT Clause Samples
The Debt Realignment clause establishes the terms under which existing debt obligations are restructured or adjusted between the parties. Typically, this clause outlines how outstanding balances will be modified, such as by changing payment schedules, interest rates, or principal amounts, and may specify the process for negotiating these changes. Its core practical function is to provide a formal mechanism for managing and resolving financial difficulties, ensuring that both parties have a clear and agreed-upon path for handling debt in a way that can prevent default and maintain the business relationship.
DEBT REALIGNMENT. Tenneco and Packaging shall each use commercially reasonable efforts so that, immediately prior to the Distribution, the Debt Realignment plan set forth on Exhibit D attached hereto has been effected in accordance with the goal set forth in clause 1 of Exhibit D. Notwithstanding the foregoing, neither Tenneco nor Packaging, nor any member of its respective Group, shall have any recourse, claim, or cause of action to or against any other member of either Group if the ultimate result of the Debt Realignment, the manner of the Debt Realignment or any element or component thereof varies from that set forth in Exhibit D.
DEBT REALIGNMENT. Each of Tenneco and Acquiror shall use its reasonable best efforts so that, immediately prior to the Spinoffs, the Debt Realignment has been effected (with only such modifications as are not adverse, except to a de minimis extent, to Acquiror, the Energy Business, the Industrial Subsidiary or the Shipbuilding Subsidiary).
DEBT REALIGNMENT. 1. Each of TI and TPI shall participate in the Debt Realignment.
DEBT REALIGNMENT. Each of the transactions and other matters contemplated under the Debt Realignment (as defined under the Merger Agreement) shall have been fully effected, consummated and accomplished.
DEBT REALIGNMENT. The Debt Realignment shall have been effected in accordance with EXHIBIT C attached hereto. (l)
DEBT REALIGNMENT. 31 6.17 No Solicitations........................................... 31 6.18 Performance of Agreement and Distribution Agreement........ 31 6.19
DEBT REALIGNMENT. 1. Each of TI and TPI shall participate in the Debt Realignment. TENNECO DISTRIBUTION AGREEMENT TENNECO DISTRIBUTION AGREEMENT