Parent Scheme definition

Parent Scheme means a scheme of arrangement in the Cayman Islands in accordance with Section 86 of the Companies Law as proposed by the Parent for the restructuring of the Parent Scheme Claims, where the Parent Scheme Claims are exchanged (A) for either (i) a pro rata share of the Parent Scheme Shares or (ii) if the relevant Parent Scheme Claim Holder has exercised its Cash Option, its Parent Scheme Cash Consideration, provided that if any Parent Scheme Claim Holders exercise their Cash Option, the Parent Scheme Shares that would otherwise be distributed to such Parent Scheme Claim Holders shall be distributed, on a pro rata basis, to the Parent Scheme Claim Holders who have not exercised their Cash Option, or (B) on such other terms as agreed between the Parent and the Majority Supporting Lenders or sanctioned by the Cayman Court.
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Examples of Parent Scheme in a sentence

  • The parties hereto shall procure that after giving effect to the Parent Scheme, the officers of New Parent shall be the individuals who are the current officers of Parent, each to hold office in accordance with the applicable provisions of the articles of association of New Parent and until their respective successors are duly elected or appointed and qualified.

  • The parties hereto shall procure that at the Parent Scheme Effective Time, those directors of Parent who shall be designated by Parent shall remain as directors of Parent, each of such directors to hold office in accordance with the applicable provisions of the articles of association of Parent and until their successors shall be elected or appointed and shall duly qualify.

  • During the Employment Period, the Executive ------------------- shall be eligible to participate in Parent's Share Option Scheme (the "Parent Scheme") in accordance with the terms and conditions therein.

  • After giving effect to the Parent Scheme, the parties hereto shall procure that the officers of Parent shall be the individuals who are the current officers of Parent, each to hold office in accordance with the applicable provisions of the articles of association of Parent and until their respective successors are duly elected or appointed and qualified.

  • Parent has received the opinion of ▇▇▇▇▇▇▇ ▇▇▇▇▇, dated March 15, 1998, to the effect that, as of such date, the consideration to be received in the Parent Scheme by the shareholders of Parent is fair to the shareholders of Parent from a financial point of view, a copy of which opinion has been delivered to the Company.

  • The Company Scheme shall become effective on the Effective Date immediately after the Parent Scheme, upon the filing of the order of the Court with respect to the Company Scheme with the Registrar (the "Company Scheme Effective Time" or the "Effective Time").

  • The Parent Scheme shall become effective upon the filing of the order of the Court with respect to the Parent Scheme with the Registrar (the time of such filing being the "Parent Scheme Effective Time" and the date of such filing being the "Effective Date").

  • Save for the New Parent Scheme, an Obligor ceases to carry on its business except pursuant to a reconstruction, amalgamation, merger or consolidation on solvent terms or, for the avoidance of doubt, by way of a disposal.

  • However, there are times when organisations want to share data in situations that are not covered by any established agreement.

  • As of the Parent Scheme Effective Time, Parent shall be a wholly owned Subsidiary of New Parent.