Common use of Impairment and Voting Clause in Contracts

Impairment and Voting. Class 1 is unimpaired by the Plan. Each holder of an Allowed Priority Non-Tax Claim is not entitled to vote to accept or reject the Plan and shall be conclusively deemed to have accepted the Plan.

Appears in 1 contract

Sources: Restructuring Support Agreement (Panolam Industries International Inc)

Impairment and Voting. Class 1 is unimpaired by the Plan. --------------------- Each holder of an Allowed Other Priority Non-Tax Claim is conclusively presumed to have accepted the Plan and is not entitled to vote to accept or reject the Plan and shall be conclusively deemed to have accepted the Plan.

Appears in 1 contract

Sources: Settlement Agreement (Jayhawk Acceptance Corp)

Impairment and Voting. Class 1 is unimpaired by the Plan. Each holder of an Allowed Priority Non-Tax Claim against any Debtor is conclusively presumed to have accepted the Plan and is not entitled to vote to accept or reject the Plan and shall be conclusively deemed to have accepted the Plan.

Appears in 1 contract

Sources: Settlement Agreement