Common use of Restructuring Support Clause in Contracts

Restructuring Support. 2.1 Each Participating Creditor hereby confirms that it shall use its legal and/or beneficial interest in the Existing Debt Instruments to approve and fully support the Restructuring, including without limitation any Restructuring Processes commenced by either of the Restructuring Companies or any other member of the Group for the purpose of implementing the Restructuring, on the terms of and subject to the conditions set out in this Agreement.‌ 2.2 This Agreement sets out the Parties’ entire understanding of the Restructuring and supersedes any previous agreement or understanding between any of the Parties with respect to the Restructuring (and any such previous agreement shall cease to be binding on the relevant Parties). 2.3 Subject to the terms of this Agreement, the Existing Documents shall continue in full force and effect in accordance with their respective terms.

Appears in 2 contracts

Sources: Restructuring Support Agreement, Restructuring Support Agreement