Common use of Quantum Clause in Contracts

Quantum. Agrees to accept, in exchange for Diagnostic taking all of the actions set forth above in Section III(A), which will permit Diagnostic to expeditiously confirm its pending Chapter 11 Plan of Reorganization and bring substantial value to Quantum, and Diagnostic agreeing to settle and compromise Diagnostic's potential avoidance action against Quantum with respect to Quantum's security interest, the following distributions of securities through the modified Diagnostic Plan of Reorganization in full satisfaction of Quantum's secured claim: 70,000 Diagnostic Units, 200,000 GSWCF Units, 480,000 XXYY Units and 480,000 AABB Units and to vote in favor of the Diagnostic Chapter 11 Plan of Reorganization; (G)

Appears in 2 contracts

Sources: Global Settlement Agreement (Diagnostic International Inc), Global Settlement Agreement (Great Southwest Chill Co Inc)