Examples of Deed Administrators in a sentence
The Deed Company hereby irrevocably appoints each of the Deed Administrators jointly and severally as its attorney to exercise or refrain from exercising (in the Deed Administrators’ absolute discretion) any and all of the Deed Company’s rights or powers in relation to or in connection with its right, title and interest in the Assets and the Deed Company will make, do and provide all things and documents reasonably necessary to give proper effect to this clause.
Following the issuance of the RED Notice, the Deed Administrators, Holdco and Opco (among others) shall, execute, for and on behalf of themselves and the Deed Company Creditors pursuant to the power of attorney set out in Clause 7.3 the Restructuring Implementation Deed following which the parties thereto shall use their reasonable endeavours to satisfy the Restructuring Conditions as soon as reasonably practicable.
On the Commencement Date, the Deed Administrators are appointed joint and several administrators of the Deed.
The Administrators’ continuing appointment as the administrators of the Deed Company shall not entitle a Group Creditor to pursue any right against the Deed Company or the Deed Administrators in relation to the operation of this Deed insofar as that right exists only because the Deed Company remains in administration pursuant to this Deed.
The rights, powers, privileges and obligations of the Deed Administrators may be exercised by them jointly and severally.
Any communication to be made under or in connection with this Deed shall be made in writing in English and may be made by letter or electronic mail or, in the case of the Administrators and/ or Deed Administrators, by posting on the NMC Stakeholder Website and/or the NMC Creditor Portal.
Fees and expenses incurred by the Deed Administrators shall be invoiced monthly (or such other period as the Deed Company, the Deed Administrators and the Creditors’ Committee may reasonably determine) to the Deed Company and shall be paid in full promptly.
The Deed Company and each of the Deed Administrators agree and acknowledge that the directors of Opco and Holdco appointed by Walkers Fiduciary Limited and Walkers Professional Services (Middle East) Limited and/or any of its Related Parties are so appointed solely for the purpose of implementing the Restructuring until they are replaced on the Restructuring Effective Date at the time specified in the Restructuring Implementation Deed.
The Administrators sign this Deed in their capacity as both Administrators and Deed Administrators of the Deed Company.
The Deed Administrators and the Administrators undertake to comply with the terms of the Budget and Oversight Protocol from the date it is agreed between the relevant parties until the later of (i) the End Date and (ii) the date on which the Administration terminates.