Any such transaction contemplated by the Implementation Memorandum and TBS Commercial Agreement may be effected prior to, on, or subsequent to the Effective Date without any further action by Holders of Interests or the directors, managers or other responsible persons of any of the Debtors.
The TBS Commercial Agreement implements the TBS Commercial/Beacon Holdings Option Agreement and is approved.
The Debtors shall file the TBS Commercial Management Agreements, as modified, with the Court prior to the Effective Date.
Notwithstanding anything to the contrary in the foregoing, the release set forth above does not release any obligations under the TBS Commercial Agreement or any post-Effective Date obligations of any party under the Plan or any document, instrument, or agreement (including those set forth in the Plan Supplement) executed to implement the Plan.
The TBS Commercial Management Agreements shall be comprised of the preexisting Agency Agreements (as such term is defined in the TBS Commercial Agreement) between TBS Commercial, Beacon Holdings, and/or their subsidiaries and the Debtors, as modified to be consistent with the TBS Commercial Agreement, and their assumption, as modified, is hereby approved.