Common use of Treatment of Claims and Interests Clause in Contracts

Treatment of Claims and Interests. ADMINISTRATIVE/PRIORITY/ On the Effective Date, pursuant to the Plan, the Plan SECURED TAX CLAIMS FUND Administrator shall be provided with funding (the "APST CLAIMS FUND") in an amount to be determined by agreement of the Company and the Term Loan Lenders, but in any event, subject to the aggregate claim amounts set forth below, which funds shall be sufficient to pay all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims that are allowed on the Effective Date and that may become allowed after the Effective Date. The Plan Administrator shall be responsible for resolving and paying all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims. After all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims have been paid in full and there are no remaining Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims, all funds remaining in the APST Claims Fund shall be remitted to New Lenox. ADMINISTRATIVE AND PRIORITY CLAIMS o ADMINISTRATIVE Except to the extent that a holder has been paid by the EXPENSE CLAIMS Company, in whole or in part, prior to the Effective Date or agrees to a less favorable treatment, each holder of an allowed administrative expense claim shall be paid in full, in cash, the full amount of its unpaid claim on or as soon as reasonably practicable following the later to occur of (a) the Effective Date or as soon thereafter as is reasonably practicable and (b) the date on which such claim becomes allowed; provided, however, that in no event shall the aggregate amount of non-professional fee Administrative Expense Claims (including, without limitation, cure costs) exceed $[1,800,000].

Appears in 2 contracts

Samples: Letter Agreement (Lenox Group Inc), Letter Agreement (Ramius LLC)

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Treatment of Claims and Interests. ADMINISTRATIVE/PRIORITY/ On the Effective Date, pursuant to the Plan, the Plan SECURED TAX CLAIMS FUND Administrator Administrative The allowed administrative expense claims against Expense Claims Foamex shall be provided unimpaired. Except with funding (the "APST CLAIMS FUND") in an amount respect to be determined by agreement of the Company and the Term Loan Lenders, but in any event, subject to the aggregate claim amounts set forth below, which funds shall be sufficient to pay all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims administrative expense claims that are allowed on the Effective Date and that may become allowed after the Effective Date. The Plan Administrator shall be responsible for resolving and paying all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims. After all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims have been paid in full and there are no remaining Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims, all funds remaining in the APST Claims Fund shall be remitted to New Lenox. ADMINISTRATIVE AND PRIORITY CLAIMS o ADMINISTRATIVE Except to the extent that a holder has been paid by the EXPENSE CLAIMS Company, in whole or in part, prior to the Effective Date or agrees to a less favorable treatmentprofessional fee claims, each holder of an allowed administrative expense claim shall be paid in full, in cash, the full amount of its unpaid claim on or as soon as reasonably practicable following the later to occur of receive (a) cash in an amount equal to the Effective Date amount of such allowed administrative expense claim on the later of the initial distribution date under the First Amended Plan and the date such administrative expense claim becomes an allowed administrative expense claim, or as soon thereafter as is reasonably practicable and practicable, or (b) such other treatment as the date on which Debtors and such claim becomes allowedholder shall have agreed upon; provided, however, that allowed administrative expense claims that arise in no event the ordinary course of the Debtors' business shall be paid in full in the ordinary course of business in accordance with the terms and subject to the conditions of any agreements governing, instruments evidencing, or other documents relating to, such transactions. Priority Tax Claims The allowed priority tax claims shall be unimpaired. Except to the extent that a holder of an allowed priority tax claim agrees to a different treatment, each holder of an allowed priority tax claim shall receive, at the sole option of the Reorganized Debtors, (a) cash in an amount equal to such allowed priority tax claim plus Post-Petition Interest on the later of the initial distribution date under the First Amended Plan and the date such priority tax claim becomes an allowed priority tax claim, or as soon thereafter as is practicable, or (b) over a period through the sixth anniversary of the date of assessment of such allowed priority tax claim, deferred cash payments in an aggregate amount equal to such allowed priority tax claim (plus Post-Petition Interest) plus interest on such aggregate amount over such period at the same rate as such Post-Petition Interest. All allowed priority tax claims which are not due and payable on or before the Effective Date shall be paid in the ordinary course of non-professional fee Administrative Expense business in accordance with the terms thereof. DIP Financing Claims (includingThe allowed claims under the DIP Facility shall be unimpaired. Except to the extent that the holders of claims under the DIP Facility and the Debtors agree to a different treatment, without limitationwhich shall be reasonably satisfactory to the Substantial Equityholders, cure costs) exceed $[1,800,000]the holders of the DIP financing claims, or their designees, shall receive payment in full in cash of all DIP financing claims in full and final satisfaction thereof other than the obligations under the indemnity and other provisions of the DIP credit facilities that by their terms shall survive the termination of the DIP credit facilities and confirmation of the First Amended Plan.

Appears in 2 contracts

Samples: Put Option Agreement (Goldman Sachs Group Inc/), Put Option Agreement (Foamex International Inc)

Treatment of Claims and Interests. ADMINISTRATIVE/PRIORITY/ ADMINISTRATIVE/ On the Effective Date, pursuant to the Plan, the Plan PRIORITY/SECURED TAX CLAIMS FUND Administrator shall be provided with funding (the "APST TAX CLAIMS FUND CLAIMS FUND") in an amount to be determined by agreement of the Company and the Term Loan Lenders, but in any event, subject to the aggregate claim amounts set forth below, which funds shall be sufficient to pay all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims that are allowed on the Effective Date and that may become allowed after the Effective Date. The Plan Administrator shall be responsible for resolving and paying all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims. After all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims have been paid in full and there are no remaining Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims, all funds remaining in the APST Claims Fund shall be remitted to New Lenox. ADMINISTRATIVE AND PRIORITY CLAIMS o ADMINISTRATIVE Except to the extent that a holder has been paid by the EXPENSE CLAIMS Company, in whole or in part, prior to the Effective Date or agrees to a less favorable treatment, each holder of an allowed administrative expense claim shall be paid in full, in cash, the full amount of its unpaid claim on or as soon as reasonably practicable following the later to occur of (a) the Effective Date or as soon thereafter as is reasonably practicable and (b) the date on which such claim becomes allowed; provided, however, that in no event shall the aggregate amount of non-professional fee Administrative Expense Claims (including, without limitation, cure costs) exceed $[1,800,000]. o SECURED TAX Except to the extent that a holder has been paid by the AND PRIORITY Company, in whole or in part, prior to the Effective Date or TAX CLAIMS agrees to a less favorable treatment, each holder of an allowed secured tax claim or allowed priority tax claim shall (a) be paid in full, in cash, the full amount of its unpaid claim on or as soon as reasonably practicable following the later to occur of (x) the Effective Date or as soon thereafter as is reasonably practicable and (y) the date on which such claim becomes allowed or (b) receive such other terms determined by the Bankruptcy Court to provide the holder deferred cash payments having a value, as of the Effective Date, equal to such claim; provided, however, that in no event shall the aggregate amount of Secured Tax Claims and Priority Tax Claims exceed $[250,000]. o OTHER Except to the extent that a holder has been paid by the PRIORITY Company, in whole or in part, prior to the Effective Date CLAIMS or agrees to a less favorable treatment, each holder of an allowed other priority claim shall receive, in full satisfaction of such other unpaid priority claim, cash in the full amount of the claim, on or as soon as reasonably practicable after the later of (i) the Effective Date or as soon thereafter as is reasonably practicable, and (ii) the date such claim becomes allowed; provided, however, that in no event shall the aggregate amount of Other Priority Claims exceed $[100,000]. SECURED CLAIMS o REVOLVING LOAN The Revolving Loans (the "REVOLVING LOAN CLAIMS") arising FACILITY from the Revolving Loan Agreement shall be "rolled up" into the DIP Facility. o TERM LOAN Holders of secured claims arising from the Term Loan FACILITY Agreement shall contribute all of their claims to New Lenox. New Lenox will credit the Purchase Price and purchase the Purchased Assets free and clear of all liens, interests, claims or encumbrances, except as set forth in the APA. o MISCELLANEOUS To the extent not previously paid pursuant to an order of SECURED the Bankruptcy Court authorizing payment of lien claims CLAIMS during the chapter 11 cases, all holders of claims secured by valid liens (including, without limitation, mechanics', materialsmens', artisans', tax and any other lien) against property not abandoned or sold will retain their liens on such property and be paid in the ordinary course of business by New Lenox UNSECURED CLAIMS o GENERAL On the Effective Date, the Plan Administrator shall be UNSECURED provided with an amount to be agreed upon by the Term Lenders (the "GENERAL UNSECURED CLAIMS FUND") to pay holders of allowed general unsecured claims. On the Effective Date, each holder of an allowed unsecured claim shall receive its pro rata share of the General Unsecured Claims Fund. The Plan shall provide a mechanism for delaying distribution to holders of general unsecured claims pending a resolution of disputed general unsecured claims.

Appears in 2 contracts

Samples: Execution Version (Lenox Group Inc), Execution Version (Ramius LLC)

Treatment of Claims and Interests. ADMINISTRATIVE/PRIORITY/ On the Effective Date, pursuant to the Plan, the Plan SECURED TAX CLAIMS FUND Administrator Administrative Expense Claims The allowed administrative expense claims against Foamex shall be provided unimpaired. Except with funding (the "APST CLAIMS FUND") in an amount respect to be determined by agreement of the Company and the Term Loan Lenders, but in any event, subject to the aggregate claim amounts set forth below, which funds shall be sufficient to pay all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims administrative expense claims that are allowed on the Effective Date and that may become allowed after the Effective Date. The Plan Administrator shall be responsible for resolving and paying all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims. After all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims have been paid in full and there are no remaining Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims, all funds remaining in the APST Claims Fund shall be remitted to New Lenox. ADMINISTRATIVE AND PRIORITY CLAIMS o ADMINISTRATIVE Except to the extent that a holder has been paid by the EXPENSE CLAIMS Company, in whole or in part, prior to the Effective Date or agrees to a less favorable treatmentprofessional fee claims, each holder of an allowed administrative expense claim shall be paid in full, in cash, the full amount of its unpaid claim on or as soon as reasonably practicable following the later to occur of receive (a) cash in an amount equal to the Effective Date amount of such allowed administrative expense claim on the later of the initial distribution date under the First Amended Plan and the date such administrative expense claim becomes an allowed administrative expense claim, or as soon thereafter as is reasonably practicable and practicable, or (b) such other treatment as the date on which Debtors and such claim becomes allowedholder shall have agreed upon; provided, however, that allowed administrative expense claims that arise in no event the ordinary course of the Debtors’ business shall be paid in full in the ordinary course of business in accordance with the terms and subject to the conditions of any agreements governing, instruments evidencing, or other documents relating to, such transactions. Priority Tax Claims The allowed priority tax claims shall be unimpaired. Except to the extent that a holder of an allowed priority tax claim agrees to a different treatment, each holder of an allowed priority tax claim shall receive, at the sole option of the Reorganized Debtors, (a) cash in an amount equal to such allowed priority tax claim plus Post-Petition Interest on the later of the initial distribution date under the First Amended Plan and the date such priority tax claim becomes an allowed priority tax claim, or as soon thereafter as is practicable, or (b) over a period through the sixth anniversary of the date of assessment of such allowed priority tax claim, deferred cash payments in an aggregate amount equal to such allowed priority tax claim (plus Post-Petition Interest) plus interest on such aggregate amount over such period at the same rate as such Post-Petition Interest. All allowed priority tax claims which are not due and payable on or before the Effective Date shall be paid in the ordinary course of non-professional fee Administrative Expense Claims (including, without limitation, cure costs) exceed $[1,800,000]business in accordance with the terms thereof.

Appears in 1 contract

Samples: Put Option Agreement (D.E. Shaw Laminar Portfolios, L.L.C.)

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Treatment of Claims and Interests. ADMINISTRATIVE/PRIORITY/ On The below summarizes the treatment to be received on or as soon as practicable after the Plan Effective DateDate (as defined below) by holders of claims against, and interests in, the Company Parties pursuant to the PlanTransaction. Administrative, the Plan SECURED TAX CLAIMS FUND Administrator shall Priority, and Tax Claims Allowed administrative, priority, and tax claims will be provided with funding (the "APST CLAIMS FUND") satisfied in an amount full, in cash, or otherwise receive treatment reasonably acceptable to be determined by agreement of the Company and the Required Consenting Creditors and consistent with the provisions of section 1129(a)(9) of the Bankruptcy Code. Revolver/Term Loan Claims On the Plan Effective Date or as soon as reasonably practicable thereafter, the Claims (the “Revolver/Term Loan Claims”) under that certain Credit Agreement, dated January 30, 2019 (the “Bank Credit Agreement”), by and among CBL & Associates Limited Partnership, as borrower (the “Bank Claim Borrower”), the Company Parties party thereto, the lenders from time to time party thereto (the “Bank Lenders”), and Xxxxx Fargo Bank, National Association, as administrative agent (“Bank Agent”) for itself and for the benefit of the Bank Lenders, but shall be treated as follows. The Revolver/Term Loan Claims held by the New Bank Lenders shall be allowed for all purposes in any eventthe Plan in the amount of $983.7 million (which amount takes into account a reclassification on the Plan Effective Date, which was classified prior to the Plan Effective Date as interest payments on the Revolver/Term Loan Claims and shall be reclassified on the Plan Effective Date as principal repayment). In full and complete satisfaction of all Revolver/Term Loan Claims held by the Bank Agent and all Bank Lenders, except for Revolver/Term Loan Claims held by Consenting Noteholders as of the Agreement Effective Date (the “New Bank Lenders” and such Revolver/Term Loan Claims, the “New Bank Lender Claims”), each New Bank Lender shall receive its pro rata share (based on the ratio of such New Bank Lender’s New Bank Lender Claims to the aggregate amount of all New Bank Lender Claims) of (a) obligations under a new term loan agreement issued by a newly-formed intermediate holding company (the “New Bank Claim Borrower”) that will (1) be owned by the Bank Claim Borrower and (2) own only the direct and indirect subsidiaries (the “Bank Claim Subsidiaries”) that own the assets and properties that secure payment of the obligations under the Bank Credit Agreement (the “Bank Claim Collateral”), as borrower, (the “New Bank Credit Agreement”) with Xxxxx Fargo Bank, N.A., as administrative/collateral agent (the “New Bank Agent”), and the New Bank Lenders in an aggregate principal amount equal to $883.7 million, which shall be guaranteed by the Bank Claim Subsidiaries and secured by a first lien in and to the Bank Claim Collateral and pursuant to which new loans shall be issued having the terms set forth on Exhibit 1 hereto (the “New Bank Term Loans”), and (b) $100 million in cash payable, first, from the segregated account and, second, from other cash on hand. Consenting Crossholder Claims On the Plan Effective Date or as soon as reasonably practicable thereafter, Revolver/Term Loan Claims held by Consenting Noteholders as of the Agreement Effective Date (the “Consenting Crossholders,” and such Revolver/Term Loan Claims, the “Consenting Crossholder Claims”) shall be treated as follows. The Consenting Crossholder Claims shall be allowed for all purposes in the Plan in the aggregate amount of $133 million. Pursuant to Bankruptcy Rule 9019, in full and complete satisfaction of Consenting Crossholder Claims, each Consenting Crossholder shall agree to receive, and receive, as less favorable treatment than the Revolver/Term Loan Claims in respect of its Consenting Crossholder Claims, its pro rata share (based on the ratio of such holder’s Consenting Crossholder Claims to the aggregate amount of Consenting Crossholder Claims held by all Consenting Crossholders) of: (i) cash in the amount of $15 million; (ii) $81 million aggregate principal amount of new senior secured notes to be issued by a separate newly-formed intermediate holding company (the “New Notes Issuer”) that will (1) be owned by the Bank Claim Borrower and (2) own all the direct and indirect subsidiaries of the Bank Claim Borrower other than the Bank Claim Subsidiaries (the “New Notes Issuer Subsidiaries”) pursuant to an indenture (the “New Notes Indenture”) having the terms set forth on Exhibit 2 hereto (the “New Notes”); provided that each Consenting Crossholder (and, for the avoidance of doubt, only a Consenting Crossholder) entitled to receive New Notes on account of its Consenting Crossholder Claims shall be able to elect (the “Convertible Note Election”), on a dollar-for-dollar basis, to substitute its allocated share of the New Notes for new convertible notes (the “New Convertible Notes”) to be issued by the New Notes Issuer pursuant to an indenture (the “New Convertible Notes Indenture”) having the terms set forth on Exhibit 3 hereto; and (iii) 10.57143% of the new common equity in the reorganized Company (the “New Common Equity Interests”), subject to dilution by the aggregate claim amounts set forth Management Incentive Plan (as defined below, which funds ) and subsequent issuances of common equity (including securities or instruments convertible into common equity) by the Company from time to time after the Plan Effective Date; provided that amount of New Convertible Notes that may be issued in lieu of the New Notes pursuant to the Convertible Notes Election (inclusive of the Convertible Notes Election available for Consenting Noteholders on account of Notes Claims described below) shall be sufficient subject to pay all Administrative Expense a maximum principal amount of $100 million; provided, further, that the Consenting Crossholders shall be entitled to the first $10 million of New Convertible Notes on account of their Consenting Crossholder Claims. With respect to the remaining amount of New Convertible Notes available subject to the Convertible Notes Election, Priority and Secured Tax Claims, and Other Priority the Consenting Crossholders shall receive New Convertible Notes on a pro rata basis with holders of Notes Claims that are allowed exercise the Convertible Notes Election (with such pro rata allocation being determined by the electing holder’s allocation of New Notes (on account of both Consenting Crossholder Claims and Notes Claims) as the Effective Date numerator and that may become allowed after the Effective Datetotal amount of New Notes available to be received by electing holders (on account of both Consenting Crossholder Claims and Notes Claims) as the denominator). The Plan Administrator Other Secured Claims Secured Claims (other than Revolver/Term Loan Claims) shall be responsible for resolving and paying all Administrative Expense Claimsreinstated, Priority and Secured Tax Claimsunimpaired, and Other Priority Claims. After all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims have been paid in full and there are no remaining Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims, all funds remaining in the APST Claims Fund shall be remitted to New Lenox. ADMINISTRATIVE AND PRIORITY CLAIMS o ADMINISTRATIVE Except or receive treatment reasonably acceptable to the extent that a holder has been paid by Company and the EXPENSE CLAIMS Company, in whole or in part, prior to Required Consenting Creditors. Notes & General Unsecured Claims On the Plan Effective Date or agrees to a less favorable treatmentas soon as reasonably practicable thereafter, the Notes Claims and General Unsecured Claims (as will be defined in the Plan) (collectively, the “Unsecured Claims”) shall be treated as follows:1, 2 In full and complete satisfaction of all Unsecured Claims, each holder of an allowed administrative expense claim Unsecured Claim shall receive its pro rata share of: (i) $80 million in cash; (ii) $474 million aggregate principal amount of New Notes; provided that each Consenting Noteholder (and, for the avoidance of doubt, only a Consenting Noteholder) entitled to receive New Notes on account of its Notes Claim shall be paid in full, in cash, able to make the full Convertible Notes Election and receive New Convertible Notes on a pro rata basis with holders of Crossholder Claims making the Convertible Notes Election (with such pro rata allocation being determined by the electing holder’s allocation of New Notes (on account of both Consenting Crossholder Claims and Notes Claims) as the numerator and the total amount of its unpaid claim New Notes available to be received by electing holders (on or account of both Consenting Crossholder Claims and Notes Claims) as soon as reasonably practicable following the later to occur of (a) the Effective Date or as soon thereafter as is reasonably practicable denominator); and (biii) 78.42857% of the date on New Common Equity Interests, subject to dilution by the Management Incentive Plan (as defined below) and subsequent issuances of common equity (including securities or instruments convertible into common equity) by the Company from time to time after the Plan Effective Date; and For the avoidance of doubt, any New Convertible Notes issued pursuant to the Convertible Notes Election shall result in a dollar-for-dollar reduction of New Notes to be issued. Property-Level Debt and Guarantee Claims Property-level debt and guarantee claims shall be reinstated, unimpaired, or receive treatment reasonably acceptable to the Required Consenting Noteholders and the Company, which such claim becomes allowed; provided, however, that in no event consent shall the aggregate amount not be unreasonably withheld. 1 There will be another settlement class created of certain guarantee claims held by non-professional fee Administrative Expense Claims (including, without limitation, cure costs) exceed $[1,800,000]Debtor joint venture lenders that will remain unimpaired as a Rule 9019 settlement in exchange for waiving events of default related to non-Debtors and other consideration. Extent of such guarantee claims to be discussed/subject to diligence and review/approval by Required Consenting Creditors.

Appears in 1 contract

Samples: CBL & Associates Limited Partnership

Treatment of Claims and Interests. ADMINISTRATIVE/PRIORITY/ BNS Facilities The Company’s (i) second amended and restated credit agreement dated as of June 7, 2013, between, inter alia, the Company and The Bank of Nova Scotia (“BNS”), as administrative agent, and the lenders thereunder (the “Revolving ABL Facility”) and (ii) equipment financing facility with BNS (the “Equipment Financing Facility”) will be unaffected by the Plan of Arrangement and paid in full in cash in the ordinary course. The maturity date of the Revolving ABL Facility will be extended until September 15, 2015. BNS will waive any and all defaults corresponding to the covenants waived by Brookfield (per “waiver” below), arising from a breach of the current ratio, or arising as a result of the sale process described herein or the Company completing the Plan of Arrangement in connection with the transactions set out in this term sheet, for a period such that BNS will not be in a position to declare a default in respect thereof prior to August 15, 2015. In exchange therefor, the Company will pay BNS a fee in the amount of 125 bps on the amount available under the Revolving ABL Facility, which will be fully earned and payable on the execution of the waiver. BNS will extend the waiver, in respect of such defaults, without charge for a period ending not later than September 15, 2015 in the event that Brookfield has extended its waiver (and all other then known defaults) for the purpose of allowing the Company to complete the closing of a Superior Proposal (defined below) or to complete the recapitalization transaction contemplated hereby. Loan Exchange On the Plan Effective Date, pursuant Brookfield will receive Common Shares representing, in aggregate, 92% of the Common Shares outstanding on a fully-diluted basis after giving effect to the Plan, the Plan SECURED TAX CLAIMS FUND Administrator shall be provided with funding (the "APST CLAIMS FUND") in an amount to be determined by agreement of the Company and the Term Loan Lenders, but in any event, subject to the aggregate claim amounts set forth below, which funds shall be sufficient to pay all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims that are allowed on the Effective Date and that may become allowed after the Effective Date. The Plan Administrator shall be responsible for resolving and paying all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims. After all Administrative Expense Claims, Priority and Secured Tax Claims, and Other Priority Claims have been paid Arrangement in full and there are no remaining Administrative Expense Claims, Priority and Secured Tax Claimsfinal satisfaction of, and Other Priority Claimsin exchange for, all funds remaining amounts owing to Brookfield under the Loan, including the Interim Facility. Debenture Exchange On the Plan Effective Date, the Debentures will be cancelled and in the APST Claims Fund shall be remitted to New Lenox. ADMINISTRATIVE AND PRIORITY CLAIMS o ADMINISTRATIVE Except to the extent that a holder has been paid by the EXPENSE CLAIMS Companyfull and final satisfaction thereof, and in whole or in part, prior to the Effective Date or agrees to a less favorable treatmentexchange therefor, each holder of an allowed administrative expense claim a Debenture will receive their pro rata share, based on the principal amount of their Debentures, of Common Shares representing, in aggregate, 6% of the Common Shares outstanding on a fully-diluted basis after giving effect to the Plan of Arrangement. No fractional Common Shares shall be issued. Any fractional Common Shares that would otherwise have been issued shall be rounded down to the nearest whole number. Accrued and unpaid interest up to but not including the Plan Effective Date will be paid in full, in cash, cash on the full amount of its unpaid claim on or as soon as reasonably practicable following the later to occur of (a) the Plan Effective Date or as soon thereafter as is reasonably practicable and (b) the date on which such claim becomes allowed; provided, however, that in no event shall the aggregate amount of non-professional fee Administrative Expense Claims (including, without limitation, cure costs) exceed $[1,800,000]Date.

Appears in 1 contract

Samples: Recapitalization Agreement (North American Palladium LTD)

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