Common use of Compromise or Arrangement Clause in Contracts

Compromise or Arrangement. Whenever a compromise or arrangement is proposed between the Corporation and its creditors or any class of them and/or between the Corporation and its stockholders or any class of them, any court of equitable jurisdiction within the State of Delaware may, on the application in a summary way of the Corporation or of any creditor or stockholder thereof or on the application of any receiver or receivers appointed for the Corporation under the provisions of Section 291 of the DGCL or on the application of trustees in dissolution or of any receiver or receivers appointed for the Corporation under the provisions of Section 279 of the DGCL, order a meeting of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the Corporation, as the case may be, to be summoned in such a manner as the said court directs. If a majority in number representing three-fourths in value of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the Corporation, as the case may be, agree to any compromise or arrangement and to any reorganization of the Corporation as a consequence of such compromise or arrangement, the said compromise or arrangement and the said reorganization, if sanctioned by the court to which the said application has been made, shall be binding on all the creditors or the members of the class of creditors, and/or on all the stockholders or the members of the class of stockholders, of the Corporation, as the case may be, and also on the Corporation.

Compromise or Arrangement. Whenever a compromise or arrangement is proposed between the this Corporation and its creditors or any class of them and/or between the this Corporation and its stockholders or any class of them, any court of equitable jurisdiction within the State of Delaware may, on the application in a summary way of the this Corporation or of any creditor or stockholder thereof or on the application of any receiver or receivers appointed for the this Corporation under the provisions of Section 291 of Title 8 of the DGCL Delaware Code or on the application of trustees in dissolution or of any receiver or receivers appointed for the this Corporation under the provisions of Section 279 of Title 8 of the DGCL, Delaware Code order a meeting of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the this Corporation, as the case may be, to be summoned in such a manner as the said court directs. If a majority in number representing three-fourths in value of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the this Corporation, as the case may be, agree to any compromise or arrangement and to any reorganization of the this Corporation as a consequence of such compromise or arrangement, the said compromise or arrangement and the said reorganizationreorganization shall, if sanctioned by the court to which the said application has been made, shall be binding on all the creditors or the members of the class of creditors, and/or on all of the stockholders or the members of the class of stockholders, of the this Corporation, as the case may be, and also on the this Corporation.

Compromise or Arrangement. Whenever a compromise or arrangement is proposed between the this Corporation and its creditors or any class of them and/or between the this Corporation and its stockholders or any class of them, any court of equitable jurisdiction within the State of Delaware may, on the application in a summary way of the this Corporation or of any creditor or stockholder thereof or on the application of any receiver or receivers appointed for the this Corporation under the provisions of Section 291 of Title 8 of the DGCL Delaware Code, or on the application of trustees in dissolution or of any receiver or receivers appointed for the this Corporation under the provisions of Section 279 of Title 8 of the DGCL, Delaware Code order a meeting of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the this Corporation, as the case may be, to be summoned in such a manner as the said court directs. If a majority in number representing three-fourths in value of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the this Corporation, as the case may be, agree to any compromise or arrangement and to any reorganization of the this Corporation as a consequence of such compromise or arrangement, the said compromise or arrangement and the said reorganizationreorganization shall, if sanctioned by the court to which the said application has been made, shall be binding on all the creditors or the members of the class of creditors, and/or on all the stockholders or the members of the class of stockholders, of the this Corporation, as the case may be, and also on the this Corporation.

Compromise or Arrangement. Whenever a compromise or arrangement is proposed between the this Corporation and its creditors or any class of them and/or between the this Corporation and its stockholders or any class of them, any court of equitable jurisdiction within the State of Delaware may, on the application in a summary way of the this Corporation or of any creditor or stockholder thereof or on the application of any receiver or receivers appointed for the this Corporation under the provisions of Section §291 of Title 8 of the DGCL Delaware Code or on the application of trustees in dissolution or of any receiver or receivers appointed for the this Corporation under the provisions of Section §279 of Title 8 of the DGCL, Delaware Code order a meeting of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the this Corporation, as the case may be, to be summoned in such a manner as the said court directs. If a majority in number representing three-three fourths in value of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the this Corporation, as the case may be, agree to any compromise or arrangement and to any reorganization of the this Corporation as a consequence of such compromise or arrangement, the said compromise or arrangement and the said reorganizationreorganization shall, if sanctioned by the court to which the said application has been made, shall be binding on all the creditors or the members of the class of creditors, and/or on all the stockholders or the members of the class of stockholders, of the this Corporation, as the case may be, and also on the this Corporation.

Compromise or Arrangement. Whenever a compromise or arrangement is proposed between the this Corporation and its creditors or any class of them and/or between the this Corporation and its stockholders or any class of them, any court of equitable jurisdiction within the State of Delaware may, on the application in a summary way of the this Corporation or of any creditor or stockholder thereof or on the application of any receiver or receivers appointed for the this Corporation under the provisions of Section 291 of the DGCL General Corporation Law or on the application of trustees in dissolution or of any receiver or receivers appointed for the this Corporation under the provisions of Section 279 of the DGCLGeneral Corporation Law, order a meeting of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the this Corporation, as the case may be, to be summoned in such a manner as the said court directs. If a majority in number representing three-fourths (3/4) in value of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the this Corporation, as the case may be, agree to any compromise or arrangement and to any reorganization of the this Corporation as a consequence of such compromise or arrangement, the said compromise or arrangement and the said reorganizationreorganization shall, if sanctioned by the court to which the said application has been made, shall be binding on all the creditors or the members of the class of creditors, and/or on all the stockholders or the members of the class of stockholders, of the this Corporation, as the case may be, and also on the this Corporation.

Compromise or Arrangement. Whenever a compromise or arrangement is proposed between the this Corporation and its creditors or any class of them and/or between the this Corporation and its stockholders or any class of them, any court of equitable jurisdiction within the State of Delaware may, on the application in a summary way of the this Corporation or of any creditor or stockholder thereof or on the application of any receiver or receivers appointed for the this Corporation under the provisions of Section 291 of the DGCL or on the application of trustees in dissolution or of any receiver or receivers appointed for the this Corporation under the provisions of Section 279 of the DGCL, order a meeting of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the this Corporation, as the case may be, to be summoned in such a manner as the said court directs. If a majority in number representing three-fourths in value of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the this Corporation, as the case may be, agree to any compromise or arrangement and to any reorganization of the this Corporation as a consequence of such compromise or arrangement, the said compromise or arrangement and the said reorganizationreorganization shall, if sanctioned by the court to which the said application has been made, shall be binding on all the creditors or the members of the class of creditors, and/or on all the stockholders or the members of the class of stockholders, stockholders of the Corporation, this Corporation as the case may be, and also on the this Corporation.