Examples of Stay Period in a sentence
The Applicants have made material progress in their restructuring during the initial ten (10) day Stay Period and additional time is required to determine the Applicants’ next steps and, in particular, carry out the SISP.
As described in detail below, the primary purpose of the requested extension of the Stay Period is to enable the Applicants to review and assess any bid(s) received in connection with the sale and investment solicitation process (the “ SISP”), as approved by this Honourable Court, pursuant to the Initial Order.
If one or more acceptable Offers are received within the SISP, it is anticipated that negotiations for interim financing will be concluded prior to the expiration of the Stay Period (as extended by the ARIO) and that the Applicants will seek approval of a Interim Financing Facility, as is determined to be necessary to fund the completion of these CCAA Proceedings.
The Initial Order established the Directors’ Charge, in the amount of $335,000 for the initial ten (10) day Stay Period.
During the Stay Period, no Person shall accelerate, suspend, discontinue, fail to honour, alter, interfere with, repudiate, terminate or cease to perform any right, renewal right, contract, agreement, licence or permit in favour of or held by the Applicants, except with the written consent of the Applicants and the Monitor, or leave of this Court.