Debt Restructuring. The Administrative Agent shall have received satisfactory evidence of the completion of the Debt Restructuring (including, for the avoidance of doubt, evidence that the RHDI Loan Documents and the Dex East Loan Documents have been entered into, and become effective, substantially simultaneously with this Agreement); provided, that it is acknowledged and agreed that the filing by the Ultimate Parent, on behalf of itself and its Subsidiaries, with the Bankruptcy Court of written notice of the occurrence of the “Effective Date” under (and as defined in) the Reorganization Plan shall satisfy this condition.
Debt Restructuring. (a) The Borrower has achieved in 2007 a financial debt to net real revenue ratio of 2.84 in compliance with the PAF-2007-2009 as evidenced through Oficio No. 3195/2008/COREM/STN sent by STN to the Borrower on April 11, 2008.
Debt Restructuring. The debt restructuring substantially in accordance with Exhibit H attached hereto (the “Debt Restructuring”) shall occur substantially simultaneously with the Closing and PRISA shall not be in Default under any definitive documentation providing for the Debt Restructuring (as the term “Default” is defined in such documentation).
Debt Restructuring. Prior to or simultaneous with the Closing, the Company shall have entered into that certain Amendment and Exchange Agreement with the holders of the Amended and Restated Senior Secured Subordinated Notes of the Company, due July 1, 2009, as may be amended from time to time (the “Bridge Notes”), and the Senior Secured Convertible Notes of the Company, due December 31, 2009, as may be amended from time to time (the “Cap Notes”).
Debt Restructuring. Each of Parent and Company agree to cooperate to refinance all or a part of the Company Debt on terms reasonably satisfactory to Parent and the Company.
Debt Restructuring. Valeritas’s debt conversion and restructuring described as described in Schedule 4c shall have been completed.
Debt Restructuring. The transactions contemplated by the Debt Restructuring Agreements, shall have been consummated.
Debt Restructuring. In reliance on the representations, warranties, covenants and agreements set forth in this Agreement, and subject to the terms and conditions of this Agreement, at the Closing, Champps shall:
Debt Restructuring. The Parties have agreed to the Debt Restructuring, the terms of which are described in the attached Exhibit A (the “Term Sheet”). The parties hereto agree that the Debt Restructuring shall become effective in accordance with the terms of this Agreement immediately following the Acceptance Date, it being understood that if this Agreement is terminated prior to the Acceptance Date, then the Holders shall have no remaining obligations under Section 4 of this Agreement.
Debt Restructuring. As a result of the Corporation's insolvency in March 1995, the Corporation entered into agreements in March and April 1995 with its secured creditors and largest unsecured creditor, to restructure debt in the aggregate amount of approximately $22 million. In addition, in April 1995, an informal committee of the Corporation's unsecured antecedent trade creditors was established, and in August 1995, this committee recommended for approval by the Corporation's creditors and shareholders a voluntary restructuring of the Corporation's unsecured trade debt ("Debt Restructuring Plan"). In early 1996, the Corporation's shareholders approved and accepted the terms of the restructuring plan. The terms of the Debt Restructuring Plan are set forth in the Private Placement Memorandum dated January 2, 1996, a copy of which has been delivered to and is available for review by the Purchaser and its counsel upon request. Pursuant to the Debt Restructuring Plan, and as of October 31, 1996, the Corporation believes it has received and approved approximately $11,751,000 or 84% acceptances by its antecedent trade creditors. Outstanding antecedent debt of approximately $2,254,000 has not been settled. As of January 1997, the Corporation issued 1,587,473 shares of Series B Convertible Preferred Stock as payment of $3,175,000 of debt owed to qualified unsecured creditors under the Corporation's Debt Restructuring Plan. This stock is convertible into 10,583,682 shares of common stock. In addition, the Corporation and its secured creditors have converted approximately $15,000,000 in debt into approximately 50,000,000 shares of common stock. The Corporation and its secured creditors may elect, however, to keep the remainder of the secured debt outstanding until substantially all of this remaining unsecured antecedent trade debt has accepted the Corporation's Debt Restructuring Plan. THERE CAN BE NO ASSURANCE THAT THE CORPORATION WILL BE ABLE TO CONTINUE TO EFFECTUATE THE DEBT RESTRUCTURING. TO THE EXTENT THAT THE CORPORATION IS UNABLE TO CONTINUE TO EFFECTUATE THE VOLUNTARY RESTRUCTURING OR OTHERWISE REFINANCE OR CONVERT SUCH DEBT AND ADDITIONAL FUNDING IS NOT AVAILABLE, THE CORPORATION WOULD BE FORCED TO SEEK PROTECTION UNDER APPLICABLE BANKRUPTCY AND INSOLVENCY LAWS.
