Implementation Mechanisms definition
Implementation Mechanisms means one or more of the implementation mechanisms utilized for the purpose of implementing the Restructuring Transactions in a manner that conforms to and is consistent with the Restructuring Term Sheet and gives effect to or facilitates the implementation of the Plan in the United Kingdom and (if applicable) the Cayman Islands, Jersey, or other jurisdictions, including, but not limited to, Administration and/or ancillary proceedings to the Chapter 11 Cases or the Administration or any of the foregoing including to implement or effect cross-border recognition of the Chapter 11 Cases.
Implementation Mechanisms has the meaning set forth in the recitals to this Agreement.
Implementation Mechanisms means one or more of the following implementation mechanisms for the purpose of implementing the Restructuring Transactions in a manner that conforms to and is consistent with the Restructuring Term Sheet and gives effect to or facilitates the implementation of the Plan (including with respect to (i) the compromise of all or a subset of the Company Claims/Interests, and (ii) the issuance of the Newco Valaris Equity) in the United Kingdom and (if and as applicable) the Cayman Islands, Jersey, or other jurisdictions:
Examples of Implementation Mechanisms in a sentence
Implementation The Amended Restructuring Support Agreement contemplates that the Restructuring Transactions will be implemented through the Plan in the Company’s voluntary cases under chapter 11 of title 11 of the United States Code (the “Chapter 11 Cases”), with respect to the Filing Entities, and through an Administration or one or more of the other Implementation Mechanisms.
With respect to Entities that do not file Chapter 11 Cases, the treatment described below for allowed Claims or Interests, as applicable to each such Entity, shall be effectuated through other Implementation Mechanisms on the terms set forth in the Term Sheets.
More Definitions of Implementation Mechanisms
Implementation Mechanisms means, collectively, (i) an administration of Valaris under Part II of the Insolvency Act 1986 (United Kingdom) (an “Administration”) and (ii) ancillary proceedings to the Chapter 11 Cases or Administration including to implement or effect cross-border recognition of the Chapter 11 Cases, the Restructuring Transactions, and the Plan including proceedings under the UK Cross-Border Insolvency Regulations 2006, the appointment of administrators or equivalent officeholders (howsoever described) under applicable law, dissolution proceedings under applicable law, and joint provisional liquidations under the Laws of any other relevant jurisdiction (collectively, the “Ancillary Proceedings”), for the purpose of implementing the Restructuring Transactions in a manner that conforms to and is consistent with the Restructuring Term Sheet and gives effect to or facilitates the implementation of the Plan (including with respect to (i) the compromise of all or a subset of the Company Claims/Interests, and (ii) the issuance of the Newco Valaris Equity) in the United Kingdom and (if and as applicable) the Cayman Islands, Bermuda, Jersey, or other jurisdictions.
Implementation Mechanisms means, collectively, (i) an administration of Valaris under Part II of the Insolvency Act 1986 (United Kingdom) (an “Administration”) and
Implementation Mechanisms has the meaning set forth in the Restructuring Support and Lock-Up Agreement.