Business Rescue Plan definition

Business Rescue Plan means this document together with all of its annexures, as amended from time to time, and prepared in accordance with section 150 of the Companies Act;

Business Rescue Plan or “BR Plan” or “this plan” means this document which is a business rescue plan prepared in terms of Section 150 of the Act published by the BRP effective from the Commencement Date;

Business Rescue Plan means this document together with all its annexures, as amended from time to time, prepared and published by the BRPs for consideration and adoption by Creditors in accordance with section 150 of the Companies Act;

Examples of Business Rescue Plan in a sentence

• The BRP will start to implement the proposals mentioned as soon as possible after the successful voting for this proposed Business Rescue Plan to ensure the successful implementation of the plan and the timely execution thereof.

• Should the Company default on any of the obligations imposed in terms of this Business Rescue Plan it is proposed that the Company will automatically be afforded an extension of time to the end of the subsequent month to rectify the breach of 30 days.

• Any Late Claims submitted will be considered in accordance with the terms of the Business Rescue Plan and, once reconciled against the Company’s records, will be adjudicated by the business rescue practitioner.

• Should the BRP’s request to amend the Business Rescue Plan not be approved, the Business Rescue Plan will fail, leading to the liquidation of the Company.

• The statements and opinions in this Business Rescue Plan are given in good faith and in the belief that such statements and opinions are not false or misleading.

More Definitions of Business Rescue Plan

Business Rescue Plan or “Rescue Plan” means this document together with all of its Annexures, comprising the business rescue plan for ADC, prepared and published on 21 August 2019 by the BRP in accordance with Section 150 of the Act for consideration and possible approval by the Creditors or other holders of voting interests, if applicable, of the Company;

Business Rescue Plan means a plan contemplated in section 150;

Business Rescue Plan means a plan provided for in accordance with section 41;

Business Rescue Plan means a plan as contemplated by section 150 of the South African Companies Act, 2008 prepared by the business rescue practitioner appointed in respect of the Borrower, after consulting the creditors, other affected persons and the management of the Borrower, and approved by the creditors of the Borrower on 11 July 2013;

Business Rescue Plan means business rescue plan contained in this document together with all of its annexures, as amended from time to time, prepared in accordance with Section 150 of the Companies Act;

Business Rescue Plan means a plan referred to in section 153;

Business Rescue Plan and “Plan” means this document together with all its annexures, prepared and published by the BRP for consideration