Examples of Consenting Lender in a sentence
As more fully set forth in Sections 10 through 13 of the RSA, the RSA may be terminated upon the occurrence of certain events, including, among others, the Debtors’ failure to meet specified milestones relating to the filing, confirmation, and consummation of the Plan, and breaches by the Debtors and/or the Consenting Lender of their respective obligations under the RSA.
If Class 3 does not vote to accept the Plan, the Debtors would be required to seek to enforce the RSA against any breaching Consenting Lender, as well as other relief, which could include an alternative chapter 11 plan of reorganization or a process through which to liquidate their assets.
The terms of the Exit Facility Documents, if any, have not been finalized and are subject to change based on negotiations between the Debtors, and the Consenting Lender.
Holders of Claims that are not the Consenting Lender will not participate in these negotiations and the results of such negotiations may affect the rights of equity holders in the Reorganized Debtors following the Effective Date.
On the Effective Date, Intercompany Interests shall be, at the option of the applicable Debtor (in consultation with the Consenting Lender), either: • Reinstated in exchange for the Debtors’ and the Reorganized Debtors’ agreement to make distributions under the Plan; or• discharged, cancelled, released, and extinguished and of no further force or effect without any distribution on account of such Intercompany Interests.