Resolution Plan Clause Samples
A Resolution Plan clause outlines the procedures and steps that parties must follow to address and resolve disputes or issues that arise during the course of an agreement. Typically, this clause specifies timelines for notification, the process for submitting and reviewing proposed solutions, and may require meetings or negotiations between designated representatives. Its core practical function is to provide a structured framework for resolving conflicts efficiently, minimizing disruption to the business relationship and reducing the likelihood of escalation to litigation.
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Resolution Plan. First Data shall prepare a resolution plan (“Resolution Plan”) which shall contain: (A) alternate solutions for providing to RCSI the requested functionality including at least one solution involving development of the missing functionality through additions to or modifications of the First Data System and at least one solution using the current First Data System functionality ***, and (B) an estimate (in hours) of development and other work necessary to implement each proposed solution and the cost to RCSI based upon Schedule C. If one of the proposed solutions is not an integrated change to the First Data System, First Data shall explain why and its justifications for such omission; provided, however that if RCSI is requesting a change in process and/or Services relating to an GECF-A Designated Account, the proposed solutions must include an integrated change in the First Data System. RCSI will determine whether to proceed or will identify the solution to be further pursued.
Resolution Plan. Provide input to the preparation and updating of the Resolution Plan in the context set out in Art. 6(3) above. Where a CMG Member or CMG Observer has material concerns regarding the Resolution Plan, it should submit such concerns in writing to DNB as well as the other CMG Members and CMG Observers as soon as reasonably possible, also setting out proposed remedies.
Resolution Plan. ONSI will conduct a Strategic Thinking and Conflict Resolution Workshop that includes scenario-based exercises and strategic foresight models. We will utilize SWOT (Strengths, Weaknesses, Opportunities, Threats) and SOAR (Strengths, Opportunities, Aspirations, Results) analyses as applied learning tools for practical academic planning. Conflict resolution will leverage Emotional Intelligence (EQ-i 2.0) principles.
Resolution Plan. Draft and periodically update the Resolution Plan for the CCP, which considers, amongst others, resolution of the CCP as a whole or in part as well as the financial stability impact thereof in all relevant jurisdictions. To the extent permitted by applicable law, DNB will share the Resolution Plan with the CMG Members and, where possible, take into account their comments. As soon as DNB, in whatever capacity, can reasonably foresee that either the CCP will take recovery measures or DNB could or will exercise any supervisory, recovery or resolution action in respect of the CCP to achieve financial stability, DNB shall inform all other CMG Members and CMG Observers thereof.
Resolution Plan. 4.1 The resolution plan in respect of the Facilities availed by a Borrower may involve, amongst other, one or more of the following terms:
(a) transfer of all or part of the assets of the Borrower to one or more persons;
(b) transfer/assignment/novation of all or part of the Facilities (together with underlying securities, guarantees etc.) to one or more persons at the value approved by the Majority Lenders;
(c) bifurcation of debt into sustainable and unsustainable portions, writing off of any debt and additional financing to the Borrower;
(d) release of any security created on the assets of the Borrower or any other person;
(e) sale of all or part of the assets whether subject to any security interest or not;
(f) the acquisition of shares of the Borrower, or the merger or consolidation of the Borrower with one or more persons;
(g) satisfaction or modification of any security interest;
(h) curing or waiving of any breach of the terms of any Facilities due from a Borrower;
(i) extension of a maturity date or a change in interest rate or other terms of the Facilities;
(j) amendment of the constitutional documents of the Borrower;
(k) issuance of securities of the Borrower, for cash, property, securities, or in exchange for claims or interests, or other appropriate purpose;
(l) obtaining necessary approvals from the Central and State Governments and other authorities;
(m) transfer or assignment of appointment of any third party contractor/agency to operate the project being undertaken by the Borrower or to manage the operations of the Borrower;
(n) appointment of any third party contractor/agency to operate the project being undertaken by the Borrower or to manage the operations of the Borrower; and
(o) any other scheme of arrangement in accordance with the Applicable Law including the Companies Act, 2013. (the debt restructuring/resolution scheme undertaken in accordance with the aforesaid broad contours is hereinafter referred to as the “Resolution Plan”).
4.2 Amongst other factors as applicable to each case, the Lead Lender shall take into account the following considerations for preparing a Resolution Plan:
(a) the Resolution Plan shall be in compliance with the Regulatory Framework and all other Applicable Laws, as applicable and amended from time to time;
(b) any exclusive Third Party Security held by a Relevant Lender; and
(c) the existing security sharing arrangement amongst the Relevant Lenders.
Resolution Plan. 5.1 The resolution plan in respect of the Facilities availed by the Borrower may involve, amongst other, any action/plan/reorganization including without limitation the following:
(a) regularisation of the Borrower’s account by payment of all overdue amounts to all Lenders by the Borrower;
(b) transfer of all or part of the assets of the Borrower to one or more persons;
(c) transfer/assignment/novation of all or part of the Facilities (together with underlying securities, guarantees etc.) to one or more persons at the value approved by the Majority Lenders;
(d) bifurcation of debt into sustainable and unsustainable portions, writing off of any debt and additional financing to the Borrower;
(e) release of any security created on the assets of the Borrower or any other person;
(f) sale of all or part of the assets whether subject to any security interest or not;
(g) the acquisition of shares of the Borrower, or the merger or consolidation of the Borrower with one or more persons;
(h) satisfaction or modification of any security interest; (i) curing or waiving of any breach of the terms of any Facilities due from the Borrower;
Resolution Plan. Draft and periodically update the Resolution Plan for the CCP, which considers, amongst others, resolution of the CCP as a whole or in part as well as the financial stability impact thereof in all relevant jurisdictions. In accordance with Articles 11 and 12 and to the extent permitted by applicable law, CNMV will share the draft Resolution Plan (and any update thereto) with the CMG Members and, where possible, take into account their comments.