Bankruptcy Court Approval. (a) Promptly after the date hereof, CTC shall file the Plan of Reorganization with the Bankruptcy Court in the form of Exhibit B hereto (the "POR") seeking, among other things, the entry of an order of the Bankruptcy Court (the "Bankruptcy Court Order") that authorizes the Merger and the related transactions contemplated by this Agreement and confirmation of the POR. The Bankruptcy Court Order and the POR must be in form and substance satisfactory to NCO; provided, however, that CTC may make non-material changes to the POR without the consent of NCO. Notwithstanding the foregoing and without limiting the foregoing materiality standard contained herein, CTC agrees that each of the following changes to the POR (and the Bankruptcy Court Order to the extent the same effectuates a change in the POR) shall be subject to the prior written approval of NCO: (i) any increases in the payments or distributions to be received by unsecured creditors or equity holders; (ii) any changes to any of the release provisions contained in the POR; (iii) the addition of any class of claims or equity interests, deletion of any class of claims or equity interests or the reclassification of an equity interest or claim; (iv) the assumption or rejection of executory contracts; (v) any changes to the conditions to the Effective Date of the POR or any deadlines relating to the entry of any orders, Confirmation Date or Effective Date under the POR; (vi) any change to the POR which would make the same inconsistent with the terms and provisions of this Agreement; (vii) any material change to the treatment or classification of the beneficiaries under the Litigation Trust; (viii) any changes affecting the Services Agreement or the ability to assume any existing servicing agreements and assignment of the same to NCOFS; or (ix) the treatment of the Secured Claim of Sunrock. Items (i) - (ix) above shall in no way be deemed a limitation on the "materiality" provision contained herein and NCO reserves its rights as to any other changes and as to whether the same are material.
Bankruptcy Court Approval. The Bankruptcy Court shall have entered the Sale Order, in form and substance reasonably satisfactory to Buyer, and the implementation, operation or effect of such order shall not be stayed or any stay entered shall have been dissolved.
Bankruptcy Court Approval. The Sale Order shall have been entered by the Bankruptcy Court.
Bankruptcy Court Approval. This Agreement is subject to the approval of the Bankruptcy Court. As such, this Agreement, including the respective releases and the transfers provided for in this Agreement, and all of the other terms, shall be of no force and effect and shall not give rise to any obligations on the part of any of the Parties hereto, until the Bankruptcy Court has approved this Agreement and entered an appropriate order or orders (an "Approval Order") in the Cases approving and effecting this Agreement, including, but not limited to, the releases and transfers required by this Agreement. The approval by the Bankruptcy Court of this Agreement may be requested in conjunction with the confirmation of the Plan so that the Approval Order is the Confirmation Order, provided however, in the event that the effective date of the Plan (the "Plan Effective Date") will not or is not anticipated to be the date that is 11 days after the confirmation hearing, unless the Parties agree in writing to a different date, then the Debtors shall request that the Bankruptcy Court also enter a separate Approval Order (the "Release and Injunction Order"), which may become a Final Order irrespective of the Confirmation Order, at the hearing on the confirmation of the Plan. Any Approval Order, including any Confirmation Order, (i) shall be in form and substance acceptable to KPN, with respect to the provisions in such Approval Order that impact this Agreement and/or the KPN Entities, the Debtors, and KPN; (ii) shall approve this Agreement; (iii) shall provide for the releases contained in Paragraphs 6 through 9 of this Agreement; (iv) shall provide for the injunction in Paragraph 9 of this Agreement; and (v) shall provide for the transfers contained in Paragraph 11 and Paragraph 12 of this Agreement. In the event that both a Confirmation Order and a Release and Injunction Order are submitted to the Bankruptcy Court for entry, both such Approval Orders shall provide for the releases and injunctions contained in this Agreement. The first Approval Order shall provide, and the Parties agree, that upon its entry by the Bankruptcy Court, the Debtors' First Adversary, the Debtors’ Second Adversary, and the Trade Creditor Preference Adversaries shall be dismissed with prejudice and the respective releases shall become effective, and the Parties further agree that they will take all steps necessary or appropriate to effect such dismissal with prejudice and release. The Parties shall cooperate in good faith ...
Bankruptcy Court Approval. The Bankruptcy Court shall have approved this Amendment pursuant to an order in form and substance satisfactory to the Administrative Agent.
Bankruptcy Court Approval. This Agreement is subject to approval by the Bankruptcy Court.
Bankruptcy Court Approval. On March 22, 2006, the Company filed a voluntary petition for reorganization under chapter 11 of the United States Bankruptcy Code (the “Code”) in the United States Bankruptcy Court for the Southern District of California (the “Bankruptcy Court”). The Company’s case is No. 00-00000-00 (the “Bankruptcy Case”). The parties acknowledge that this Agreement shall not be effective unless and until approved by the Bankruptcy Court. For purposes of this Agreement, the term “Effective Date” means the date on which the Company receives Bankruptcy Court approval of this Agreement.
Bankruptcy Court Approval. Sellers' obligations under this Agreement are subject to Bankruptcy Court Approval to the extent (and only to the extent) required by law.
Bankruptcy Court Approval. The Confirmation Order shall have been entered by the Bankruptcy Court, shall be a Final Order and shall be in full force and effect, and the Plan shall be effective in accordance with its terms.
Bankruptcy Court Approval. (a) Sellers and Buyer acknowledge that this Agreement and the sale of the Acquired Assets and the assumption and assignment of the Assigned Contracts and Assigned Leases are subject to Bankruptcy Court approval. Sellers and Buyer acknowledge that (i) to obtain such approval, Sellers must demonstrate that they have taken reasonable steps to obtain the highest and otherwise best offer possible for the Acquired Assets, and that such demonstration shall include giving notice of the transactions contemplated by this Agreement to creditors and other interested parties as ordered by the Bankruptcy Court, and, if necessary, conducting the Auction, and (ii) Buyer must provide adequate assurance of future performance under the to-be-assigned leases and executory contracts.
