Equity Recovery definition
Examples of Equity Recovery in a sentence
As used in this Agreement, “Exchange Ratio” means a number (rounded to five decimal places) obtained by dividing the Existing Company Stockholder Equity Recovery by Eligible Shares.
B4 Seadrill 510(b) Claims On the Plan Effective Date: • if Class B3 votes to accept the Plan, each holder of an allowed Seadrill 510(b) Claim shall receive its pro rata share of the Equity Recovery; and • if Class B3 votes to reject the Plan, each holder of an allowed Seadrill 510(b) Claim will be extinguished and shall not receive or retain any distribution, property, or other value on account of their Seadrill 510(b) Claims.
B5 Interests in Seadrill On the Plan Effective Date: • if Class B3 votes to accept the Plan, each holder of an allowed Interest in Seadrill shall receive its pro rata share of the Equity Recovery; and • if Class B3 votes to reject the Plan, each Interest in Seadrill will be extinguished in accordance with the Description of the Transaction Steps and the holder of such Interest in Seadrill shall not receive or retain any distribution, property, or other value on account of its Interest in Seadrill.
The offering, issuance, and distribution of the New Seadrill Common Shares pursuant to the Equity Recovery and the Unsecured Pool Equity, as contemplated by Article III.B hereof, shall be exempt from, among other things, the registration requirements of section 5 of the Securities Act and any other applicable law requiring registration prior to the offering, issuance, distribution, or sale of Securities in accordance with, and pursuant to, section 1145 of the Bankruptcy Code.
In return, each Supporting Common Interest Holder shall receive: (a) its Pro Rata share of the Capital Equity Recovery; and (b) its Pro Rata share of the New Unsecured Notes.
In full satisfaction of and in exchange for each DIP Facility Claim, each holder of a DIP Facility Claim shall receive its Pro Rata share of the DIP Equity Recovery.
Employees who are certified by NBSCETT upon date of signing of this collective agreement and who are not receiving the benefit of the Trade Equity Recovery (TER) in Article 8.02 a) iv), will continue to receive a salary fix in an amount equivalent to one percent (1%) of their hourly rate.
The Operator or Sr. Operator classifications who are currently certified by NBSCETT upon date of signing will continue to receive the salary fix in the amount equivalent to one (1%) of their currently hour rate until November 1, 2013 in acknowledgement that these classifications should not be negatively impacted by the implementation of Trade Equity Recovery.