Examples of Reorganization Securities in a sentence
It appears the discrepancy lies largely in recording indirect trade, particularly gold, while South Africa records Hong Kong as the destination for gold exports while the final destination may indeed be China.
In the event of an Insolvency Proceeding relative to any Obligor, the Senior Facility Debt shall be Paid In Full before any Distribution (other than a Distribution of Reorganization Securities) shall be made on account of any Subordinated Indebtedness.
Notwithstanding the foregoing, if any Enforcement Action with respect to the Collateral produces non-cash proceeds (other than Permitted Reorganization Securities for all purposes herein), then such non-cash proceeds shall be held by the First Lien Creditor as additional collateral and, at such time as such non-cash proceeds are monetized, shall be applied in the order of application set forth above.
Any such Distribution (except Reorganization Securities) which would, but for the provisions hereof, be payable or deliverable in respect of the Subordinated Indebtedness, shall be paid or delivered directly to Senior Agent until all amounts owing upon Senior Facility Debt shall have been Paid In Full.
All four companies have distributed court approved Reorganization Securities pursuant to an exemption under Section 1145 of the Bankruptcy Code.