Reorganization Proceeding definition

Reorganization Proceeding shall have the meaning set forth in Section 9.4 hereof.
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Reorganization Proceeding for purposes of this Section 9.4 shall mean a case, proceeding or other action (i) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief entered with respect to any Person, or seeking to adjudicate such Person as bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to such Person or such Person’s debts, or (ii) seeking appointment of a receiver, trustee, custodian or other similar official for such Person or for all or any substantial part of such Person’s assets, or the making of a general assignment for the benefit of such Person’s creditors.
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Reorganization Proceeding means the proceeding now pending in the Court for Accentia.
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Examples of Reorganization Proceeding in a sentence

  • The Warrant shall have a strike price equal to One Hundred Twenty Percent (120%) of the closing bid price for Biovest shares on the date on which the Court in ABPI’s Reorganization Proceeding enters an order authorizing Accentia to carry out this Agreement and the warrant shall fully vest on the Approval Date for Agreement.

  • Seller desires to sell, and Buyer desires to purchase, the Shares, upon the terms and subject to the conditions set forth herein and pursuant to a plan of reorganization containing the terms specified in Exhibit A and such other terms as are reasonably acceptable to Buyer and Seller (as amended from time to time, the "Reorganization Plan") to be implemented through a proceeding (the "Reorganization Proceeding") proposed to be commenced under the Missouri Insurance Code.

  • Nothing in this Agreement or any other Loan Document shall affect any right that the Administrative Agent, any Issuing Bank or any Senior Lender may otherwise have to bring any action or proceeding relating to this Agreement to which it is a party or any other Loan Document against any Subordinated Debtor or Subordinated Lender or any of their properties in the courts of any jurisdiction, including in any Reorganization Proceeding affecting a Subordinated Debtor or Subordinated Lender.

  • On the eleventh (11th) day following the date on which the Court in ABPI’s Reorganization Proceeding enters an order authorizing Accentia to carry out this Agreement, and provided there are no requests for reconsideration and provided there exists no appeal of or to such order (“Approval Date for Agreement”), Parent shall pay ABPI Sub Two Million Five Hundred Thousand Dollars ($2,500,000) in cash U.S. by wire transfer (the “Initial Payment”).

  • In the event that, prior to the Conversion Date, the shareholders of any Obligor domiciled in Brazil determine that it is necessary and in the best interest of such Obligor to file a Brazilian Local Reorganization Proceeding on a voluntary basis, then prior to and in any event no later than three (3) Business Days prior to such filing, the Borrowers shall notify and consult with the Lenders with respect to such filing.

  • As soon as practicable after execution of this Agreement, Seller shall make reasonable efforts to cause the Department to commence a Reorganization Proceeding and to submit the Reorganization Plan incorporating the material terms of this Agreement.

  • BDSI shall place Two Million Five Hundred Thousand Dollars ($2,500,000) into escrow with a neutral party reasonably suitable to ABPI two (2) business days after ABPI files with the Court in the Reorganization Proceeding a motion for an order authorizing Accentia to carry out this Agreement (“Filing Date”).

  • Notwithstanding any of the provisions hereunder, the filing of a Brazilian Local Reorganization Proceeding by any Obligor prior to the Conversion Date shall not (i) constitute an Event of Default or violation of the terms of this Agreement or (ii) otherwise give rise to a right to enforce or realize upon any Collateral pursuant to the Collateral Documents.

  • Each Subordinated Creditor hereby agrees that it may not take any actions in any Reorganization Proceeding that are prohibited by the provisions of this Intercompany Subordination Agreement.

  • This Intercompany Subordination Agreement shall remain in full force and effect following the commencement of any Reorganization Proceeding.


More Definitions of Reorganization Proceeding

Reorganization Proceeding has the meaning set forth in the Recitals of this Agreement.
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Reorganization Proceeding shall have the meaning given to such term in Section 1 hereof.
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Reorganization Proceeding means the cases commenced on April 6 and April 12, 1990 under Chapter 11 of Title 11 of the United States Code in the Bankruptcy Court by GDC (Case 90-12231-BKC-AJC), General Development Financial Services, Inc. (Case 90-12232-BKC-AJC), General Development Resorts, Inc. (Case 90-12233 BKC-AJC), Town and Country II, Inc. (formerly Florida Residential Communities, Inc.) (Case 90-12234-BKC-AJC), Five Star Homes Group, Inc. (Case 90-12235-BKC-AJC), Five Star Homes, Inc. (Case #90-12338-BKC-AJC), GDV Financial Corporation (Case #90-12236-BKC-AJC) and Environmental Quality Laboratory, Inc. (Case #90-12237-BKC-AJC).
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Related to Reorganization Proceeding

  • Bankruptcy Proceeding means any case, action or proceeding before any court or other Governmental Authority relating to any Bankruptcy Event.

  • Reorganization with respect to any Multiemployer Plan, the condition that such plan is in reorganization within the meaning of Section 4241 of ERISA.

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding-up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Bankruptcy Proceedings has the meaning set forth in clause (b) of paragraph 9 hereof.

  • Current Proceeding means any proceeding conducted under any provisions of this subsection that