Financial Restructuring Sample Clauses

Financial Restructuring. On September 30, 2002 we announced that we had reached a non-binding preliminary agreement relating to a restructuring of our balance sheet with an ad hoc committee of our bondholders (the `Bondholder Committee'). That agreement provided for the cancellation of all outstanding notes and debentures (the `Notes') (approximately (pound)3.5 billion) and certain other unsecured foreign exchange hedge contracts (the `Hedge Contracts') (approximately (pound)33 million) in exchange for new ordinary shares (the `New Shares') representing 97% of our issued share capital immediately after the Financial Restructuring. Under that agreement our current ordinary shareholders would have received the remaining 3% of our issued ordinary share capital. We also announced on September 30, 2002 that we were deferring payment of interest under certain of our Notes and the amounts due as a result of the settlement of the Hedge Contracts. Such non-payment continues and has resulted in defaults under our Existing Facility and a number of other financing arrangements. Based on one such default, in respect of non-payment of approximately (pound)10.5 million to a Hedge Contract counter-party, that -------------------------------------------------------------------------------- TELEWEST COMMUNICATIONS PLC US GAAP UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS -------------------------------------------------------------------------------- NOTES TO THE UNAUDITED CONDENDSED CONSOLIDATED FINANCIAL STATEMENTS counter-party has filed a petition with a UK Court to wind us up. We intend to deal with this claim as part of the overall restructuring of our unsecured debt obligations and do not believe that the legal action will significantly delay or impede the Financial Restructuring process. We expect to meet our obligations to our suppliers and trade creditors and this legal action is expected to have no impact on customer service. On January 15, 2003, we announced that we had reached a non-binding agreement with respect to the terms of amended and restated credit facilities with both the steering committee of our Senior Lenders and the Bondholder Committee. In addition, the terms of these facilities had received credit committee approval, subject to documentation and certain other issues, from all of our Senior Lenders, save for those banks which are also creditors by virtue of the unsecured Hedge Contracts with which we will deal in the overall Financial Restructuring. These amended ...
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Financial Restructuring. Financial restructuring undertaken -Actual losses of MPSEB have been lower than those forecasted in the 2001 RRP. (Cumulative forecast losses over this period FY 2001 to FY 2005 were Rs 56,000 million compared with actual losses of Rs 25,000 million.) Final transfer and absorption of the employees in the new companies immediately after the division of MPEB staff is completed. Further reduction in transmission / distribution system and enhancement of collection needed -Losses to 23% in all Discoms by 2012. -Overall collection efficiency is targeted to increase from a current average of 85% to 96% from 2005 to 2012.
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Financial Restructuring. SECTION 3.01.
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Financial Restructuring. On or before the following dates, the Company shall deliver the following to the Noteholders:
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Financial Restructuring. Agent and Lenders acknowledge that Borrowers have indicated their intention to pursue a financial restructuring, which may be effected through, among other things, raising additional equity, the conversion of existing non-senior debt to equity, and/or obtaining replacement debt financing which, when taken together, will be sufficient to repay and satisfy the Debt in full (a "Restructuring"). Agent and Lenders acknowledge and agree that Borrowers, at their option and with the assistance of the Lead Investment Banker, concurrently with the Sale Transaction process set forth herein in Section 2(g) as a condition to forbearance, may pursue a Restructuring. Notwithstanding the foregoing, in no event shall the process of attempting to complete a Restructuring replace, mitigate or diminish in any way the conditions to forbearance relating to the completion of a Sale Transaction and the Sale Transaction process contained in Section 2(g) hereof absent the full repayment and satisfaction of the Debt.
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Financial Restructuring. On or before the following dates, Borrower shall deliver the following to Agent:
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Financial Restructuring 
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Related to Financial Restructuring

  • Restructuring 24.1 In the event that all or part of the work undertaken by the employee will be affected by the employer entering into an arrangement whereby a new employer will undertake the work currently undertaken by the employee, the employer will meet with the employee, providing information about the proposed arrangement and an opportunity for the employee to comment on the proposal, and will consider and respond to their comments. The employee has the right to seek the advice of their union or to have the union act on their behalf.

  • Restructuring Transactions On the Effective Date, the Debtor, Newco, GP, Finance Co and Merger Co shall enter into the Consensual Transaction described in Section 3 of the Implementation Plan attached to the Transaction Support Agreement as Exhibit B. On the later of the Effective Date and the Merger Date, the Debtor and Merger Co will enter into a merger agreement under which the Debtor will merge with Merger Co, and following the merger, the Debtor will be the surviving and successor entity. The actions to implement this Plan and the Implementation Plan may include, in accordance with the consent rights in the Transaction Support Agreement: (a) the execution and delivery of appropriate agreements or other documents of merger, amalgamation, consolidation, restructuring, conversion, disposition, transfer, arrangement, continuance, dissolution, sale, purchase, or liquidation containing terms that are consistent with the terms of the Plan and the Transaction Support Agreement and that satisfy the applicable requirements of applicable law and any other terms to which the applicable Entities may agree; (b) the execution and delivery of appropriate instruments of transfer, assignment, assumption, or delegation of any asset, property, right, liability, debt, or obligation on terms consistent with the terms of the Plan and the Transaction Support Agreement and having other terms for which the applicable parties agree; (c) the filing of appropriate certificates or articles of incorporation, reincorporation, merger, consolidation, conversion, amalgamation, arrangement, continuance, or dissolution pursuant to applicable state or provincial law; (d) the execution and delivery of contracts or agreements, including, without limitation, transition services agreements, employment agreements, or such other agreements as may be deemed reasonably necessary to effectuate the Plan in accordance with the Transaction Support Agreement; and (e) all other actions that the applicable Entities determine to be necessary, including making filings or recordings that may be required by applicable law in connection with the Plan.

  • Financial Resources The Adviser has the financial resources available to it necessary for the performance of its services and obligations contemplated in the Pricing Disclosure Package, the Prospectus, and under this Agreement, the Investment Management Agreement and the Administration Agreement.

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