Revised Plan Clause Samples
Revised Plan. If requested in a writing delivered by the Administrative Agent to the Borrowers after January 29, 2008, the Borrowers shall deliver to the Administrative Agent and the Lenders within twenty-one days of receipt of such written request a revised plan which details the Borrowers’ proposed strategy for maximizing the value of their estates, including, without limitation, through a sale of the Borrowers and/or their assets in their entirety, or in a series of transactions, and cash flows resulting from such transactions, which revised plan shall be in form and substance satisfactory to the Administrative Agent; provided, however, that the Borrowers shall not be required to deliver such revised plan in the event that on or before January 29, 2008, (i) the Borrowers have publicly announced an agreement in principle with both the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (“BCTGM”) and the International Brotherhood of Teamsters (“IBT”), in each case regarding modifications to the existing collective bargaining agreements with BCTGM and IBT, respectively, which provide for union alignment to a more capable and more cost-effective path-to-market, certain health and welfare concessions, and increased work rule flexibility, and (ii) Silver Point Finance, L.L.C. (or, if the Borrowers are authorized by the Bankruptcy Court to enter into an alternative commitment for exit financing, then the approved provider of such alternate exit financing) has publicly announced its support of such agreements with BCTGM and IBT.
Revised Plan. A revised Plan will be developed during the life of the Agreement, based on the $2.50 Contribution Rate during the Life of the Agreement in accordance with Appendix No. 3 of the August 1, 1997 Memorandum of Agreement.
Revised Plan. By no later than April 21, 2008, the Borrowers shall have requested proposals for the sale of the Borrowers and their assets in their entirety, or in a series of transactions, and, by no later than June 30, 2008, the Borrowers shall have delivered to the Administrative Agent a schedule (in form and substance satisfactory to the Administrative Agent) of asset sales (including estimated sales dates and estimated proceeds) which the Borrowers reasonably expect will generate sales proceeds sufficient in the aggregate to reduce Total Usage (minus any cash then held in the Letter of Credit Account) to zero prior to the Maturity Date; provided, however, that the Borrowers shall not be required to (x) request such proposals in the event that on or before April 21, 2008, the Borrowers have (1) filed a Reorganization Plan that provides for the refinancing of the Credit Agreement in full and has the publicly announced support of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union and the International Brotherhood of Teamsters, and is otherwise in form and substance satisfactory to the Administrative Agent and (2) obtained firm commitments for funding of all exit financing necessary for confirmation and consummation of the Reorganization Plan or (y) deliver such schedule in the event that on or before June 30, 2008, the Reorganization Plan shall have become effective and be consummated, and the Obligations under the Credit Agreement shall have been indefeasibly paid in full.
2.14 Clause (vi) of Section 6.3 of the Credit Agreement is hereby amended by deleting the amount “$1,000,000” and substituting therefor the amount “$500,000”.
2.15 Section 6.4 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
Revised Plan. Based on the results of the meeting with officials of OTS, RP Financial will revise the business plan to incorporate greater detail with respect to the prospective operations of the Bank. RP Financial’s business planning services in this regard will include the following areas: (1) evaluating the Bank’s current financial and operating condition, business strategies and anticipated strategies in the future; (2) analyzing and quantifying the impact of business strategies, incorporating the use of net offering proceeds both in the short and long term; (3) revising and updating the detailed financial projections, if appropriate; (4) preparing the written business plan document which conforms with applicable regulatory guidelines including a Rosslyn Center Telephone: (▇▇▇) ▇▇▇-▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, Suite 2210 Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇ Arlington, VA 22209 Direct: (▇▇▇) ▇▇▇-▇▇▇▇ ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ E-Mail: ▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ description of the use of proceeds and how the convenience and needs of the community will be addressed; and (5) preparing the detailed schedules of the capitalization of the Bank and the holding company and related cash flows. Consistent with regulatory requirements for business plans incorporating minority stock offerings, the contents of the business plan will include sections pertaining to the following areas: Executive Summary; Description of Business; Marketing Plan; Management Plan; Records, Systems and Controls; Financial Management Plan; Monitoring and Revising the Plan; Alternative Business Strategy; and Pro Forma Financial Statements and Key Assumptions for the proposed holding company and the Bank. RP Financial agrees to prepare the business plan and accompanying financial projections in writing such that the business plan can be filed with the appropriate regulatory agencies prior to filing the appropriate applications for the minority stock issuance.
Revised Plan. By no later than June 30, 2008, the Borrowers shall deliver to the Administrative Agent a schedule (in form and substance satisfactory to the Administrative Agent) of proposed Section 363 asset sales (which shall be derived from request(s) for proposals made not later than April 21, 2008 and include estimated sales dates and estimated proceeds) which the Borrowers reasonably expect will generate sales proceeds sufficient in the aggregate to reduce Total Usage (minus any cash then held in the Letter of Credit Account) to zero prior to the Maturity Date; provided, however, that the Borrowers shall not be required to deliver such schedule in the event that on or before June 30, 2008: (w) the Borrowers have filed a Reorganization Plan that (A) provides for the refinancing of the Credit Agreement in full; (B) received the publicly announced support of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union and the International Brotherhood of Teamsters; and (C) is otherwise in form and substance satisfactory to the Administrative Agent; (x) the Borrowers have obtained firm commitments for funding of all exit financing necessary for confirmation and consummation of the Reorganization Plan; (y) such Reorganization Plan shall have become effective and be consummated; and (z) the Obligations under the Credit Agreement shall have been indefeasibly paid in full.
Revised Plan. In case of a major change in budget of the UGNX Activities (exceeding [***] of the approved budget), or a major change in the Timeline ([***]), the JSC shall review and approve the revised budget, Timeline or Pre-filled Syringe Development plan in the U.S. The JSC’s decision will be made in accordance with Section 3.5, provided that [***] will have the authority to make the final decision with regards to [***], other than the [***].
Revised Plan. The following Plan Sheet is hereby deleted and replaced with the like-numbered Plan Sheet: Sheet No. 12.A2 (Drawing No. MDS-03)
Revised Plan. (a) In this Clause, “Revision Event” means the Majority Participants and the Company agree that:
Revised Plan. If the Borrowers have not previously publicly announced an agreement in principle with both the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (“BCTGM”) and the International Brotherhood of Teamsters (“IBT”), in each case regarding modifications to the existing collective bargaining agreements with BCTGM and IBT, respectively, which provide for union alignment to a more capable and more cost-effective path-to-market, certain health and welfare concessions, and increased work rule flexibility, then, on or before December 1, 2007, the Borrowers shall deliver to the Administrative Agent and the Lenders a revised plan which details the Borrowers’ proposed strategy for maximizing the value of their estates, including, without limitation, through a sale of the Borrowers and/or their assets in their entirety, or in a series of transactions, and cash flows resulting from such transactions, which revised plan shall be in form and substance satisfactory to the Administrative Agent.
2.4 Section 6.17 of the Credit Agreement is hereby amended in its entirety to read as follows:
