Common use of Effect of Failure of Conditions Clause in Contracts

Effect of Failure of Conditions. If Consummation does not occur, the Plan shall be null and void in all respects and nothing contained in the Plan or the Disclosure Statement shall: (1) constitute a waiver or release of any Claims by the Debtors, Claims, or Interests; (2) prejudice in any manner the rights of the Debtors, any Holders of Claims or Interests, or any other Entity; or (3) constitute an admission, acknowledgment, offer, or undertaking by the Debtors, any Holders of Claims or Interests, or any other Entity, respectively; provided that all provisions of the RSA that survive termination thereof shall remain in effect in accordance with the terms thereof.

Appears in 2 contracts

Sources: Restructuring Support Agreement (CURO Group Holdings Corp.), Restructuring Support Agreement (Avaya Holdings Corp.)

Effect of Failure of Conditions. If Consummation does not occur, the this Plan shall be null and void in all respects and nothing contained in the this Plan or the Disclosure Statement shall: (1) constitute a waiver or release by the Debtors or any Holder of Claims or Equity Interests of any Claims by the Debtors, Claims, Claim or InterestsEquity Interest; (2) prejudice in any manner the rights of the Debtors, any Holders of Claims or Equity Interests, or any other Entity; or (3) constitute an admission, acknowledgment, offer, or undertaking by the Debtors, any Holders of Claims or Equity Interests, or any other Entity, respectively; provided that all provisions of the RSA that survive termination thereof shall remain in effect in accordance with the terms thereof.

Appears in 1 contract

Sources: Restructuring Support Agreement (Appgate, Inc.)