Examples of Reorganized Entities in a sentence
All Proofs of Claim Filed on account of an employee benefit shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent the Reorganized Entities elect to honor such employee benefit, without any further notice to or action, order, or approval of the Bankruptcy Court.
All Claims Filed on account of an employee benefit shall be deemed satisfied and expunged from the Claims Register as of the Effective Date to the extent the Reorganized Entities elect to honor such employee benefit, without any further notice to or action, order, or approval of the Bankruptcy Court.
On the Effective Date, TBK will amend and restate its Pre-petition Loan Agreement, which will provide for a line of credit with a forty-two (42) month term (the "New TBK Facility"), which will be evidenced by documents to be negotiated between TBK Bank and the Reorganized Entities.
TBK Bank shall retain its security interest in all assets of the Debtors and shall be granted by the Reorganized Entities a security interest in all assets of the Reorganized Entities, subordinate only to Capital Managers LLC's first priority secured interest (as described in Section 6.07 of the Plan), in all the Debtors’ and Reorganized Entities' inventory.
After the Effective Date, the Reorganized Entities will operate pawn and retail stores.
If the Reorganized Entities do not perform as projected, for example if another recession occurs, large and unanticipated costs arise, or if the Reorganized Entities' customer base unexpectedly erodes, the Reorganized Entities may not be able to fulfill their obligations under the Plan.
Distribution means any distribution by the Debtors, the Reorganized Entities or the Litigation Trust to the Holders of Allowed Claims pursuant to the Plan.
On or before the Effective Date, the Debtors and/or the Reorganized Entities shall pay down TBK's allowed Class A1 Claim to the lesser of:(i) $6,500,000 or (ii) the sum of 70% of the Eligible Pawn Loans and Eligible Pawn Service Charges, as defined in the loan documents (the “TBK Pay Down”).
Neither the Debtors nor Bradley Rixmann will contribute any funds to Capital Managers, LLC for the issuance of new equity in the Reorganized Entities.
The Reorganized Entities intend to continue operations upon the Plan’s confirmation.