New Restructuring definition

New Restructuring means a series of transfers, mergers, amalgamations, dissolutions, liquidations and similar transactions involving ownership interests (but not involving any transfers of Dealer Loans, Dealer Loan Pools, Installment Contracts or other financial assets, other than to the Company or a Significant Domestic Subsidiary) including without limitation the transfer of the ownership of all of the Company's Foreign Subsidiaries (including the US LLC) by the T&C Subsidiary to CAC South Dakota and the liquidation of the T&C Subsidiary (including the release by the Banks of the T&C Subsidiary from its obligations under the Guaranty and any Collateral Document, and the release of the Lien over the equity interests of the T&C Subsidiary) and the release of those debentures, liens or security agreements executed in favor of the Agent by the Permitted Borrowers (as defined in the Prior Credit Agreement), and the conversion of CAC Scotland from a "controlled foreign corporation" (for purposes of Section 956 of the Internal Revenue Code) to a branch of CAC South Dakota (pursuant to a "check-the-box election"), such transactions resulting in the restructuring of the ownership of the Company's foreign subsidiaries as shown on Exhibit R to the Credit Agreement.
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New Restructuring means a series of transfers, mergers, amalgamations, dissolutions, liquidations and similar transactions involving ownership interests (but not involving any transfers of Advances to Dealers, Installment Contracts or other financial assets, other than to the Company or a Significant Domestic Subsidiary) including without limitation the transfer of the ownership of all of the Company's Foreign Subsidiaries (including the US LLC) by the T&C Subsidiary to CAC South Dakota and the liquidation of the T&C Subsidiary (including the release by the Banks of the T&C Subsidiary from its obligations under the Guaranty and any Collateral Document, and the release of the Lien over the equity interests of the T&C Subsidiary) and the release of those debentures, liens or security agreements executed in favor of the Agent by the Permitted Borrowers (as defined in the Prior Credit Agreement), and the conversion of CAC Scotland from a "controlled foreign corporation" (for purposes of Section 956 of the Internal Revenue Code) to a branch of CAC South Dakota (pursuant to a "check-the-box election"), such transactions resulting in the restructuring of the ownership of the Company's foreign subsidiaries as shown on Exhibit R to the Credit Agreement.
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Examples of New Restructuring in a sentence

  • Enter into any merger or consolidation, except for any Permitted Merger or Permitted Transfer under clause (iv) of the definition thereof, or sell, lease, transfer, relocate or dispose of all, substantially all, or any material part of its assets, except for Permitted Transfers and Permitted Securitization(s) and other transfers made pursuant to the New Restructuring, provided that, both before and after giving effect thereto, no Default or Event of Default has occurred and is continuing.

  • The New Restructuring Support Agreement and Backstop Commitment Agreement shall not become effective or binding until the date on which the New Restructuring Support Agreement and Backstop Commitment Agreement are fully executed and effective in accordance with their terms.

  • If the Approval Order is not made a part of any confirmation order or otherwise entered on or before entry of the confirmation order, the obligations under the New Restructuring Support Agreement, the Backstop Commitment Agreement, and this Term Sheet may be terminated as set forth in the New Restructuring Support Agreement and Backstop Commitment Agreement, as applicable.

  • The documents executed to effectuate the Restructuring will not contain any material terms or conditions that are inconsistent in any material respect with this Term Sheet or the New Restructuring Support Agreement.

  • Approval of the New Restructuring Support Agreement and Backstop Commitment Agreement The Debtors shall seek entry of the Approval Order.

  • This Term Sheet does not include a description of all the terms, conditions, and other provisions that are to be contained in the definitive documentation governing the Restructuring, which remain subject to negotiation and completion in accordance with the New Restructuring Support Agreement and applicable bankruptcy law.

  • The Banks further irrevocably authorize the Agent, at its option and in its discretion, to grant such other releases as may be necessary to effectuate the New Restructuring (including the release of Liens on the assets of the T&C Subsidiary and on the equity interests in the T & C Subsidiary and the release of the T & C Subsidiary from its obligations under the Guaranty).

  • Date The occurrence of the Effective Date shall be subject to the satisfaction of certain conditions precedent customary in transactions of the type described herein, including, without limitation, the following: All definitive documentation for the Restructuring shall have been executed and remain in full force and effect, which definitive documentation shall be subject to the consent rights and other requirements set forth in the New Restructuring Support Agreement.

  • If Taomee or the New Pledgors still have not fully performed all or part of their obligations or liabilities under the New Restructuring Agreements upon expiry of the terms specified thereunder, the Pledgee is still entitled to the Right of Pledge hereunder until the aforementioned relevant obligations and liabilities have been fully performed.

  • The New Restructuring Support Agreement shall amend, restate, supersede, and replace (i) the Restructuring Support Agreement, dated as of May 10, 2019 (the “Original Restructuring Support Agreement”) and (ii) the Amended and Restated Restructuring Support Agreement, dated as of June 26, 2019 (the “Prior Restructuring Support Agreement”).