Plan Support Agreement Sample Clauses
A Plan Support Agreement is a contractual arrangement in which certain stakeholders, such as creditors or equity holders, agree to support and vote in favor of a proposed restructuring plan, typically in the context of bankruptcy or financial reorganization. These agreements often outline the terms of the plan, the obligations of the parties to take specific actions (like voting for the plan or refraining from opposing it), and may include deadlines or conditions that must be met. The core practical function of a Plan Support Agreement is to provide certainty and coordination among key parties, increasing the likelihood that the restructuring plan will be approved and implemented efficiently.
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Plan Support Agreement. Upon agreement between Curative and the Senior Noteholders regarding the terms of the Restructuring, Curative and the holders of at least 78% of the Senior Notes shall enter into one or more formal agreements (the “Plan Support Agreements”). The signatories to the Plan Support Agreements would, among other things, support the Restructuring, and (a) extend the time for the Company to disclose Company Confidential Information until the date of the execution of the Plan Support Agreements; (b) subject to receipt of an approved disclosure statement satisfying the requirements of the Bankruptcy Code applicable to disclosure statements and United States securities laws, as applicable, that contains information concerning Curative and a plan that conforms with the terms of the Restructuring (the “Plan”), vote all of its claims against CURE and the Guarantors to accept such Plan and otherwise support, and take all reasonable actions to facilitate, the proposal, solicitation, confirmation, and consummation of such Plan; (c) not object to confirmation of, or vote to reject, the Plan or otherwise commence any proceeding to oppose or alter the Plan, the disclosure statement in respect of the Plan, the solicitation of its acceptance of the Plan or any other reorganization documents containing terms and conditions consistent in all material respects with the term sheet; (d) vote against any restructuring, workout or plan of reorganization relating to Curative other than the Plan; and (e) not directly or indirectly seek, solicit, support, encourage, vote for, consent to, or participate in the negotiation or formulation of (x) any plan of reorganization, proposal, offer, dissolution, winding up, liquidation, reorganization, merger, or restructuring for any part of Curative other than the Plan, (y) any disposition outside of the Plan of all or any substantial portion of the assets of Curative or any of its subsidiaries, or (z) any other action that is inconsistent with, or that would delay or obstruct the proposal solicitation, confirmation, or consummation of, the Plan. The signatories to the Plan Support Agreement would, among other things, support the Plan and the Restructuring and in the event that any signatory sells, assigns or otherwise conveys its claims (a “Sale Transaction”), it would condition said Sale Transaction upon the transferee’s assumption of the Plan Support Agreement.
Plan Support Agreement. Until entry of the Confirmation Order approving the Plan of Reorganization by the Bankruptcy Court, the Credit Parties shall (a) comply in all material respects with the terms of the Plan Support Agreement and (b) not take all action that would create a Termination Event under, and as defined in, the Plan Support Agreement.
Plan Support Agreement. The Plan Support Agreement shall have been duly executed and delivered by the parties thereto, shall be in full force and effect and shall not have been amended, supplemented or otherwise modified without the prior written consent of Administrative Agent except in accordance with the provisions thereof.
Plan Support Agreement. Promptly, and in no event later than two (2) Business Days following the entry of the Disclosure Statement Order and the Circular Order, whichever is later in time, each Investor agrees to execute and deliver the Plan Support Agreement in the form attached as Exhibit D hereto.
Plan Support Agreement. The Plan Support Agreement shall not have been terminated with respect to the Company in accordance with its terms.
Plan Support Agreement. The termination of the Plan Support Agreement other than upon the effectiveness of the Approved Plan.
Plan Support Agreement. The Administrative Agent shall have received a fully executed copy of the Plan Support Agreement together with a certificate from the Borrower’s chief financial officer confirming that such agreement is effective in accordance with its terms.
Plan Support Agreement. Copies of any amendments, notices, waivers or other written agreements relating to the Plan Support Agreement promptly upon the effectiveness thereof.
Plan Support Agreement. To comply with the applicable agreements of Section 4(a) of the Plan Support Agreement
Plan Support Agreement. The Plan Support Agreement shall be in full force and effect (except as to the UCC) and shall not have been terminated in accordance with its terms.