Transfer Motion definition
Transfer Motion means a motion filed by a Party in Chapter 11 Proceedings specifying that all or substantially all of the assets of such Party in Chapter 11 Proceedings (or the net proceeds therefrom), excluding any assets reserved for the payment of costs and expenses of administration in the Chapter 11 Proceedings, will be transferred or sold, as soon as practicably possible, to a Bankruptcy Bridge Company or to a third party that is not an Affiliate of the Party in Chapter 11 Proceedings (such Bankruptcy Bridge Company or third party, the “Transferee”).
Examples of Transfer Motion in a sentence
On July 31, 1995, the District Court held a hearing on the Opt-Out Transfer Motion.
Each Transfer Motion will include a proposed order granting the transfer and consolidation with ▇▇▇▇▇ stating, inter alia, that (i) transfer and consolidation is requested and granted only for purposes of facilitating this Settlement; and (ii) if for any reason the Effective Date does not occur, the Court will return the Wage-Hour Lawsuits to the respective Transfer Courts, without objection.