Determination Dissenting Creditors definition
Determination Dissenting Creditors has the meaning given to it in paragraph (b) of clause 15.4 (Determination of voting category) of the ICA. “Determination Dissenting Notice” has the meaning given to it in paragraph (b) of clause 15.4 (Determination of voting category) of the ICA. “Direction Notice” has the meaning given to it in paragraph (a) of clause 26.1 (Direction Notice) of the ICA. “Discretion Matter” means a matter in which the Security Agent may exercise its discretion to approve any request made in an ICA Proposal subject to and in accordance with clause 16.1 (General discretion to modify, consent or waive in respect of Discretion Matters) of the ICA without any requirement to seek the approval of any Secured Creditor or Secured Creditor Representative. “Disposal” means a sale, lease, licence, transfer, loan or other disposal by a person of any asset, undertaking or business (whether by a voluntary or involuntary single transaction or series of transactions). “Disposal Proceeds” means the cash consideration received by a member of the Restricted Group for any Disposal made by any member of the Restricted Group except for Excluded Disposal Proceeds and after deducting: (a) any reasonable fees, costs and expenses (which includes, without limitation, legal fees, agents’ commission, auditors’ fees, out-of-pocket redundancy costs, out-of-pocket closure costs, out-of-pocket restructuring costs and out-of-pocket reorganisation costs in each case attributable to the relevant disposal) (including any amounts in respect of VAT thereon to the extent irrecoverable) which are incurred by any member of the Restricted Group with respect to that Disposal to persons who are not members of the Restricted Group; (b) any Tax incurred or required to be paid or any provision or reservation for future payments of Tax required to be made, by the seller (or any other member of the Restricted Group) in connection with that Disposal (as reasonably determined by the seller, on the basis of existing rates and taking account of any available
Examples of Determination Dissenting Creditors in a sentence
The Determination Dissenting Notice should also specify the voting category of the relevant ICA Proposal which Determination Dissenting Creditors propose should apply for the relevant ICA Proposal and contain the supporting evidence or substantiation of the matters set out in the Determination Dissenting Notice required to be provided by the Determination Dissenting Creditors.