Examples of Reorganization Steps in a sentence
The Monitor shall post on the Monitor’s Website, as soon as possible, any such modification, amendment, variation or supplement to such Reorganization Steps Notice.
On the Effective Date, subject to the terms and conditions of this Plan and the Restructuring Transactions and as described more fully in the Reorganization Steps Overview, Reorganized Parent shall issue the New Common Stock pursuant to this Plan and the Amended/New Corporate Governance Documents.
On the Effective Date, the Intercompany Equity Interests shall remain effective and outstanding, except to the extent modified pursuant to the terms of the Reorganization Steps Overview, and shall be owned and held by the same applicable Person or Entity that held and/or owned such Intercompany Equity Interests immediately prior to the Effective Date.
Notwithstanding the foregoing, the Debtors, in consultation with the Monitor and the Sponsors, may at any time and from time to time, modify, amend, vary or supplement the Reorganization Steps Notice, without the need for obtaining an Order or providing notice to the Affected Creditors.
The Reorganization will be effected on the Plan Implementation Date in the manner and in the sequence set out in the Reorganization Steps Notice.
From and after the closing of the Merger, in the event that at any time or from time to time (whether prior to, at or after the Distribution Effective Time), one Party hereto (or any member of such Party’s Group) shall incur any Liability that is allocated to the other Party (or any member of such Party’s Group) pursuant to the Reorganization Steps Plan, such Party shall be indemnified pursuant to Article IV by the Party responsible therefor.
Immediately following the effective time of the Merger, the Parties hereto shall engage in and effectuate the Separation Transactions as set forth in the Reorganization Steps Plan, in the manner described, and in the sequence set forth, therein.
By: /s/ Xxxxx Xxxxxx Name: Xxxxx Xxxxxx Title: Chairman and Chief Executive Officer XXXXXX XXXXXXXX, AS THE INDEMNITORS’ REPRESENTATIVE /s/ Xxxxxx Xxxxxxxx SCHEDULE 1 The Reorganization Steps Capitalized terms used herein and not otherwise defined shall have the meaning assigned to such terms in the Agreement and Plan of Merger and Reorganization to which this Schedule is attached (the Agreement).
There can be no assurance that all or any of the reorganization steps outlined in the Reorganization Steps Overview or described in the Description of Reorganization Steps will actually occur or, if they do occur, will occur in the order set forth in Exhibit I or Exhibit J, as applicable.
In addition, these discussions do not address tax consequences that may be relevant to Holders of Claims other than Prepetition Notes Claims or of Equity Interests other than Existing Common Stock.The following discussions assume that the Internal Reorganizations will occur prior to or on the Effective Date and in accordance with the Description of Reorganization Steps and that Weatherford Parent will continue as the parent of the group following the Effective Date.