Sevan definition
Examples of Sevan in a sentence
Its: Shareholder By: Sevan Drilling Limited Its: Shareholder By: /s/ ▇▇▇▇▇▇▇▇ ▇.
For administrative convenience, the holders of Credit Agreement Claims against NADL and the Other NADL Debtors and Sevan and the Other Sevan Debtors have agreed to accept participation in the Amended NADL Credit Facility and Amended Sevan Credit Facility, as applicable, in lieu of any entitlement to receive the New NADL Common Shares and New Sevan Shares and consent to the issuance of such shares to the Reorganized Debtors in accordance with the Description of Transaction Steps.
F5 Interests in Sevan On the Plan Effective Date, each Interest in Sevan will be extinguished in accordance with the Description of the Transaction Steps and the holder of such Interest in Sevan shall not receive or retain any distribution, property, or other value on account of its Interest in Sevan.
Common Shares On the Plan Effective Date, 100% of the New NADL Common Shares and New Sevan Common Shares shall be issued to the Reorganized Debtors in accordance with the Description of Transaction Steps.
Debtors On the Plan Effective Date, each allowed Interest in an Other Sevan Debtor shall be Reinstated.
Second Lien Claim On the Plan Effective Date, the Sevan Second Lien Claim shall, at the election of the Debtors, be (a) Reinstated or (b) canceled and released without recovery.
Claims On the Plan Effective Date, each allowed Sevan 510(b) Claim will be extinguished and shall not receive or retain any distribution, property, or other value on account of their Seadrill 510(b) Claims.
A3 Intercompany Claims On the Plan Effective Date, Claims between Debtors will be Reinstated or released at the election of the Debtors (other than NADL Revolving Loan Claim and the Sevan Second Lien Claim, which shall be treated as set forth in the applicable classes).
Claims On the Plan Effective Date, each holder of an allowed Credit Agreement Claim against an Other Sevan Debtor shall receive its pro rata participation in the Amended Sevan Credit Facility.
On the Plan Effective Date, each holder of an allowed Credit Agreement Secured Claim against Sevan shall receive its pro rata participation in the Amended Sevan Credit Facility.