Examples of New TBS Parent in a sentence
All matters provided for in the Plan involving the entity structure of the Debtors, the Reorganized Debtors, or New TBS Parent and any entity action required by the Debtors, the Reorganized Debtors, or New TBS Parent in connection with the Plan shall be deemed to have occurred and shall be in effect without any requirement of further action by the security holders, directors, or officers of the Debtors, the Reorganized Debtors, or New TBS Parent.
On and after the Effective Date, the business and affairs of New TBS Parent and the Reorganized Debtors shall be managed by the New Boards and the officers, directors, managers, or other responsible persons identified in the Plan Supplement.
All implementation steps set forth in the Implementation Memorandum are hereby approved, including any merger, dissolution, transfer of assets, or other consolidation contemplated therein, and New TBS Parent and the Reorganized Debtors or Debtors (as applicable) are authorized to enter into and consummate all transactions in furtherance of the Plan.
New TBS Parent, the Released Parties and Exculpated Parties do not agree to perform, pay, or indemnify creditors or otherwise have any responsibilities for any liabilities or obligations of the Debtors or the Reorganized Debtors, whether arising before, on, or after the Confirmation Date, except as otherwise expressly provided in the Plan.
Section 7.11 of the Plan provides that the New Bylaws and New Articles of Association for New TBS Parent and the Reorganized Debtors shall prohibit the issuance of non-voting equity securities to the extent required by section 1123(a)(6) of the Bankruptcy Code, thereby satisfying section 1123(a)(6) of the Bankruptcy Code.(g) Selection Of Officers And Directors (11 U.S.C. § 1123(a)(7)).
The Debtors properly and adequately disclosed or otherwise identified the members of the New Boards of New TBS Parent and the Reorganized Debtors in the Plan Supplement.
The identities of the initial members of the New Boards of New TBS Parent and the Reorganized Debtors after the Effective Date of the Plan, as well as the method by which the independent members of such New Boards will be chosen, have been fully disclosed.
Except as otherwise expressly provided in the Plan or this Confirmation Order, none of New TBS Parent, the Released Parties or the Exculpated Parties shall be determined to be successors to any of the Debtors or to any Person for which the Debtors may be held legally responsible, by reason of any theory of law or equity, and none can be responsible for any successor or transferee liability of any kind or character.
On the Effective Date, the New Management Incentive Plan shall be deemed to be adopted by the Reorganized Debtors and New TBS Parent.
The identity of any insider that will be employed or retained by New TBS Parent or the Reorganized Debtors and the nature of such insider's compensation have also been disclosed, to the extent applicable.