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As more fully described under Put Options, Equity Rights and Purchase Option (and subject to the limitations set forth therein), each First Lien Noteholder (a) will have the opportunity to be a Put Participant and sell the 3 Administrative, priority and critical trade claims shall be paid in full in cash as soon as practicable following consummation of the Restructuring or as otherwise provided for in definitive documentation. The plan may provide for separate classification for general unsecured claims on terms and with treatment that is reasonably acceptable to the Requisite Consenting Creditors (as defined in the RSA). 4 Capitalized terms not defined herein have the meanings set forth in the RSA. 5 The First Lien Bank Lenders may choose to have up to $100 million of Mezzanine CPLV Debt they are to receive converted to a corresponding amount of New First Lien OpCo Debt, New Second Lien OpCo Debt, New First Lien PropCo Debt, New Second Lien PropCo Debt or equity in PropCo 6 Pending regulatory and REIT requirements, the First Lien Noteholders will receive their interest in PropCo indirectly through REIT New Common Stock (as opposed to directly through PropCo New LP Interests as Caesars Entertainment Company or its designee (\u201cCEC\u201d) and CEOC will). right to receive under the Plan some or all of its equity to the Backstop Parties for cash, (b) will have the opportunity to purchase PropCo Preferred Equity and/or (c) may receive cash from the Non-First Lien Noteholders for the right to receive some or all of their equity in connection with the exercise of the Equity Rights. 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determined by the Requisite Consenting Creditors), it shall be subject to the reasonable consent of the Requisite Consenting Creditors.", "Any actions proposed to be taken in connection with obtaining regulatory approvals that adversely affect any First Lien Noteholder, in an economic or other material respect, must be reasonably acceptable to the Requisite Consenting Creditors, and will be binding on all <strong>First Lien Noteholders</strong>.", "<strong>First Lien Noteholders</strong> who wish to become Backstop Parties must make any required investor representations required for federal and state securities law purposes.", "Distributed to <strong>First Lien Noteholders</strong>, subject to adjustment as set forth herein.", "For so long as the First Lien Obligations and the Second Lien Obligations are outstanding, such Lien and pledge in favor of the Holders shall be a Third Priority Lien and pledge, subject only to the prior rights of the <strong>First Lien Noteholders</strong> and the Second Lien Noteholders in accordance with the terms of the Intercreditor Agreement.", "Each First Lien Bank Lender waives any entitlement to post-petition interest to the extent <strong>First Lien Noteholders</strong> do not receive post-petition interest.", "The First Lien OpCo Debt distributable to First Lien Bank Lenders and <strong>First Lien Noteholders</strong> must be in the form of bank debt and bond debt, respectively.", "For every $1 of direct or indirect interest in PropCo purchased pursuant to the Equity Rights, the Right Participant shall also purchase $0.25 of CPLV Mezzanine Debt to be received by the <strong>First Lien Noteholders</strong> with such CPLV Mezzanine Debt then being converted into direct or indirect interest in PropCo at the same price per share as the Put Option (the \u201cEquitized CPLV Mezzanine Debt\u201d).", "The Put Options must be selected in connection with plan solicitation provided that with respect to <strong>First Lien Noteholders</strong> 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