Common use of Commitment of the Company Clause in Contracts

Commitment of the Company. Subject to the terms hereof, if the Company accedes to this Agreement in accordance with Section 10, the Company shall: (a) amend the Chapter 11 Plan to be consistent with the terms set forth in the Term Sheet; (b) take any and all necessary and appropriate actions in furtherance of the Restructuring, the Amended Plan and this Agreement (including, promptly following its accession to this Agreement, executing a supplemental indenture to the Existing 2016 Notes Indenture effecting the Initial Amendments and, promptly following commencement of the Chapter 11 Cases, seeking Bankruptcy Court approval and assumption of the RTL Investment Agreement); (c) use commercially reasonable efforts to meet all Milestones; (d) obtain any and all required regulatory and/or third-party approvals for the Restructuring; PRIVILEGED & CONFIDENTIAL F.R.E. 408 SETTLEMENT DISCUSSIONS (e) not take any actions inconsistent with the adoption and implementation of the Amended Plan and speedy confirmation thereof; (f) not take, nor encourage any other person or entity to take, any action that directly or indirectly interferes with or delays the acceptance or implementation of the transactions contemplated under the Restructuring, including, without limitation, initiating or joining any legal proceeding or directly or indirectly negotiating or soliciting any Alternative Restructuring; (g) permit the disclosure of this Agreement, and the aggregate amount of Covered Claims held by the Plan Support Parties; provided, however, that the Parties shall not disclose the names of or individual claim amounts held by the Consenting 2013 Noteholders; and (h) consult with and solicit the views of the Consenting 2013 Noteholders regarding the Company’s evaluation of any Alternative Restructuring.

Appears in 1 contract

Sources: Plan Support Agreement (Roust Trading Ltd.)

Commitment of the Company. Subject to the terms hereof, if the Company accedes to this Agreement in accordance with Section 10, the Company shall: (a) amend the Chapter 11 Plan to be consistent with the terms set forth in the Term Sheet; (b) take any and all necessary and appropriate actions in furtherance of the Restructuring, the Amended Plan and this Agreement (including, promptly following its accession to this Agreement, executing a supplemental indenture to the Existing 2016 Notes Indenture effecting the Initial Amendments and, promptly following commencement of the Chapter 11 Cases, seeking Bankruptcy Court approval and assumption of the RTL Investment Agreement); (c) use commercially reasonable efforts to meet all Milestones; (d) obtain any and all required regulatory and/or third-party approvals for the Restructuring; PRIVILEGED & CONFIDENTIAL F.R.E. 408 SETTLEMENT DISCUSSIONS; (e) not take any actions inconsistent with the adoption and implementation of the Amended Plan and speedy confirmation thereof; (f) not take, nor encourage any other person or entity to take, any action that directly or indirectly interferes with or delays the acceptance or implementation of the transactions contemplated under the Restructuring, including, without limitation, initiating or joining any legal proceeding or directly or indirectly negotiating or soliciting any Alternative Restructuring; (g) permit the disclosure of this Agreement, and the aggregate amount of Covered Claims held by the Plan Support Parties; provided, however, that the Parties shall not disclose the names of or individual claim amounts held by the Consenting 2013 Noteholders; and (h) consult with and solicit the views of the Consenting 2013 Noteholders regarding the Company’s evaluation of any Alternative Restructuring.

Appears in 1 contract

Sources: Plan Support Agreement (Roust Trading Ltd.)