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

  • 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”).

  • 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.

  • 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.

  • 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.

  • The Escrow Funds are to be deposited by the Company with the Escrow Agent two (2) business days after Accentia files with the Court in the Reorganization Proceeding a motion for an order authorizing Accentia to carry out the Emezine Settlement 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.

  • Under Mexico’s Reorganization Proceeding Law, the foreclosure or sale of all or any part of the Collateral will not be possible prior to the Reorganized Debtors’ liquidation.

  • 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.

  • Secured creditors’ rights in a bankruptcy proceeding are therefore not well-established in Mexico, and this may result in substantial delays beyond those contemplated by Mexico’s Reorganization Proceeding Law as well as the inability of the mediator to exercise the remedies and powers granted to creditors.

  • The capitalization of at least 70% of the unsecured loans verified in the Reorganization Proceeding, with a minimum of CLP$ 115,000 million, through any form of conversion stipulated by the Agreement.


More Definitions of Reorganization Proceeding

Reorganization Proceeding has the meaning set forth in the Recitals of this Agreement.
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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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Reorganization Proceeding shall have the meaning given to such term in Section 1 hereof.
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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 Cases means the cases filed by the Debtors under Chapter 11 of the Bankruptcy Code.

  • 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.

  • Insolvency Proceeding means any proceeding under Title 11 of the United States Code (11 U.S.C. Sec. 101 et seq.) or any other insolvency, liquidation, reorganization or other similar proceeding concerning the Mortgage Loan Borrower, any action for the dissolution of the Mortgage Loan Borrower, any proceeding (judicial or otherwise) concerning the application of the assets of the Mortgage Loan Borrower for the benefit of its creditors, the appointment of or any proceeding seeking the appointment of a trustee, receiver or other similar custodian for all or any substantial part of the assets of the Mortgage Loan Borrower or any other action concerning the adjustment of the debts of the Mortgage Loan Borrower, the cessation of business by the Mortgage Loan Borrower, except following a sale, transfer or other disposition of all or substantially all of the assets of the Mortgage Loan Borrower in a transaction permitted under the Mortgage Loan Documents; provided, however, that following any such permitted transaction affecting the title to the Mortgaged Property, the Mortgage Loan Borrower for purposes of this Agreement shall be defined to mean the successor owner of the Mortgaged Property from time to time as may be permitted pursuant to the Mortgage Loan Documents; provided, further, however, that for the purposes of this definition, in the event that more than one entity comprises the Mortgage Loan Borrower, the term “Mortgage Loan Borrower” shall refer to any such entity.

  • winding-up proceedings means collective proceedings involving realisation of the assets and distribution of the proceeds among the creditors, shareholders or members as appropriate, which involve any intervention by administrative or judicial authorities, including where the collective proceedings are terminated by a composition or other analogous measure, whether or not they are founded on insolvency or are voluntary or compulsory;

  • Reorganization Plan means a plan of reorganization in any of the Cases.

  • foreign proceeding means a collective judicial or administrative proceeding in a foreign State, including an interim proceeding, pursuant to a law relating to insolvency in which proceeding the assets and affairs of the debtor are subject to control or supervision by a foreign court, for the purpose of reorganization or liquidation;

  • Adjudicative proceeding means the procedure to be followed in contested cases, as set forth in RSA 541-A:31 through RSA 541-A:36.

  • Administrative proceeding means a non-judicial process that is adjudicatory in nature in order to make a determination of fault or liability (e.g., Securities and Exchange Commission Administrative Proceedings, Civilian Board of Contract Appeals Proceedings, and Armed Services Board of Contract Appeals Proceedings). This includes administrative proceedings at the Federal and State level but only in connection with performance of a Federal contract or grant. It does not include agency actions such as contract audits, site visits, corrective plans, or inspection of deliverables.

  • Insolvency Proceedings means bankruptcy, liquidation or other collective judicial or administrative proceedings, including interim proceedings, in which the assets and affairs of the debtor are subject to control or supervision by a court for the purposes of reorganisation or liquidation;

  • ADR Proceeding means either an Arbitration or a Mediation.

  • Criminal proceeding means a proceeding instituted by means of the swearing of an information, the laying of a charge or the return of an indictment, before a Court of competent jurisdiction in Canada with jurisdiction to hear and determine the charges referred to therein, alleging or charging that the "Insured" has contravened the provisions of any Provincial or Federal statute, including the Criminal Code, R.S.C. 1985 ch. C-46 as amended, which creates an offence or crime and which provides for conviction thereunder, whether by way of summary conviction or indictment, and as a result of which the "Insured" is liable to be convicted, fined or sentenced to some form of imprisonment or other punishment.

  • Insolvency with respect to any Multiemployer Plan, the condition that such Plan is insolvent within the meaning of Section 4245 of ERISA.

  • Protective proceeding means a judicial proceeding in which a protective order is sought or has been issued.

  • Chapter 11 means Chapter 11 of the Bankruptcy Code.

  • Chapter 11 Case has the meaning set forth in the Recitals.

  • CCAA Proceedings means the proceedings commenced by the Applicant under the CCAA as contemplated by the Initial Order;

  • Adjudicatory proceeding means a contested case, a proceeding that may culminate in a contested case, a petition for declaratory order, a petition for expedited resolution of a negotiability dispute, or any other proceeding which may require the board or its designee to issue a decision, order, or ruling.

  • dispute resolution proceeding ’ means any process in which an alternative means of dispute resolution is used to resolve an issue in controversy in which a neutral is appointed and specified parties participate;

  • Testacy proceeding means a proceeding to establish a will or determine intestacy.

  • Derivative proceeding means a civil suit in the right of a domestic corporation or, to the extent

  • foreign main proceeding means a foreign proceeding taking place in the State where the debtor has the centre of its main interests;

  • Bankruptcy Case has the meaning assigned to such term in Section 2.05(b).

  • Reorganization Event has the meaning specified in Section 5.6(b).