Examples of MIP Notes in a sentence
Any New Common Stock issuable upon conversion of the New Notes (including New Common Stock issued upon conversion of the New Money Notes, Exchange Notes, and MIP Notes) shall be exempt from any registration requirements to the fullest extent permitted by section 3(a)(9) of the Securities Act.
The MIP Notes and New Common Stock of Reorganized Parent issued to officers and other key employees of the Reorganized Debtors pursuant to the Management Incentive Plan shall be exempt from any registration requirements under any securities laws to the fullest extent permitted by section 4(a)(2) of the Securities Act and Rule 506 of Regulation D and/or Rule 701 promulgated thereunder.
This Tax Disclosure does not address the specific U.S. federal income tax consequences to (i) Holders of Equity Interests in Parent, (ii) Holders of DIP Facility Claims, if any, New Money Notes to be distributed under the Plan, or MIP Notes issued pursuant to the Management Incentive Plan, (iii) lenders under the New ABL Facility or the New Roll-Up Facility, or (iv) those with a unique position with respect to their tax treatment, such as the Commitment Parties.
All respondents will be notified in writing of the results of the evaluation of their submitted package.
The MIP Pool shall consist of $2.4 million in aggregate initial principal amount of MIP Notes, and the remainder shall be in the form of New Common Stock.2 Any forfeited shares or awards shall be returned to the MIP Pool and reallocated at the discretion of the New Board.
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The New Money Notes will be issued at a price of $800 in cash for each $1,000 in principal amount of New Money Notes, but shall otherwise contain the same terms and conditions as the Exchange Notes offered to the Company’s other creditors, and the MIP Notes issued pursuant to the Management Incentive Plan, each as discussed below.
The MIP Pool shall consist of $2.4 million in aggregate initial principal amount of MIP Notes, and the remainder shall be in the form of New Common Stock.9 Any forfeited shares or awards shall be returned to the MIP Pool and reallocated at the discretion of the New Board.