Effectuating the Restructuring Clause Samples
Effectuating the Restructuring. As long as a Termination Event has not occurred, subject to (i) the terms and conditions of this RSA and (ii) the terms and conditions set forth in the Restructuring Term Sheet, the Parties shall use their commercially reasonable efforts to:
(a) effectuate and consummate the Restructuring on the terms described in this RSA and the Restructuring Term Sheet;
(b) implement the Exchange Offer and the Consent Solicitation;
(c) obtain all necessary approvals and consents for the Restructuring from all requisite governmental authorities and third parties;
(d) complete each of the other transactions as contemplated by the Restructuring Term Sheet; and
(e) take no actions inconsistent with this RSA, the Restructuring Term Sheet, and any other Definitive Documentation or the expeditious consummation of the Restructuring. Without limiting any other provision hereof, as long as a Termination Event has not occurred, each Party hereby agrees to negotiate and cooperate in good faith in respect of all matters concerning the implementation and consummation of the Restructuring. Furthermore, as long as a Termination Event has not occurred, each Party shall take such action (including executing and delivering any Definitive Documentation and making and filing any required regulatory filings) as may be reasonably necessary to carry out the purposes and intent of this RSA.
Effectuating the Restructuring. To implement the Term Sheet, the Parties have agreed, on the terms and conditions set forth herein, that the Company shall use its commercially reasonable best efforts to:
(a) solicit the requisite acceptances of the Plan (i) in accordance with section 1125 of the Bankruptcy Code; and (ii) if solicited after the Chapter 11 Cases have commenced, the Bankruptcy Court has approved the Disclosure Statement;
(b) move the Bankruptcy Court to confirm the Plan as expeditiously as practicable under the Bankruptcy Code, including under section 1129(b) thereof, the Federal Rules of Bankruptcy Procedure and the Bankruptcy Court’s local rules (the federal and local rules being the “Bankruptcy Rules”); and
(c) consummate the Plan; provided, however, that the form and substance of the Plan (including any Plan Supplement filed in connection therewith) and the Disclosure Statement shall be consistent in all material respects with the Term Sheet.
Effectuating the Restructuring. To implement the Plans, the Parties have agreed, on the terms and conditions set forth herein, that the Company shall use its commercially reasonable efforts to:
(a) solicit the requisite acceptances of the U.S. Plan in accordance with section 1125 of the Bankruptcy Code;
(b) seek confirmation of the U.S. Plan as expeditiously as practicable under the Bankruptcy Code, including under section 1129(b) thereof, the Federal Rules of Bankruptcy Procedure and the U.S. Court’s local rules;
(c) solicit the requisite acceptances of the CCAA Plan in accordance with the CCAA;
(d) seek issuance of a sanction order with respect to the CCAA Plan as expeditiously as practicable under the CCAA and any applicable rules and guidelines; and
(e) consummate the Plans. Without limiting any other provision hereof, the Company hereby agrees to negotiate in good faith each of the definitive agreements and documents referenced herein, including the Plan, the Disclosure Statement, the Information Circular and the Commitment Agreement, or reasonably necessary or desirable to effectuate the transactions in connection with the Restructuring.
Effectuating the Restructuring. To implement the Plan, the Parties have agreed, on the terms and conditions set forth herein, that the Company shall use its commercially reasonable efforts to:
(a) solicit the requisite acceptances of the Plan in accordance with section 1125 of the Bankruptcy Code;
(b) seek confirmation of the Plan as expeditiously as practicable under the Bankruptcy Code, including under section 1129(b) thereof, the Federal Rules of Bankruptcy Procedure and the Bankruptcy Court’s local rules; and
(c) consummate the Plan.
Effectuating the Restructuring. To implement the Plans, the Parties have agreed, on the terms and conditions set forth herein, that the Company shall use its commercially reasonable efforts to: