SIHPL Section 155 Proposal definition

SIHPL Section 155 Proposal means the compromise or arrangement dated 19 January 2021 (including any addendum thereto or any amendment, modification or variation thereof) and as made available at www.steinhoffsettlement.com, to be proposed by SIHPL to certain classes of its creditors pursuant to section 155 of the South African Companies Act (2008) (as may be supplemented, amended, modified or varied) which includes the respective application to the South African Court for the sanctioning of the section 155 proposal as well as the order of the South African Court that sanctions the section 155 proposal.
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Examples of SIHPL Section 155 Proposal in a sentence

  • The actual recovery of each SIHNV MPC Claimant and SIHNV Contractual Claimant will therefore depend on the total Claim Value of the Claims that are in fact timely filed and accepted under the terms of this SIHNV Composition Plan and the SIHPL Section 155 Proposal (as applicable) by the SIHNV MPC Claimants, SIHPL MPC Claimants and SIHNV Contractual Claimants.

  • Each MPC Claimant and SIHNV Contractual Claimant whose Claim is accepted under the terms of this SIHNV Composition Plan and/or the SIHPL Section 155 Proposal will be entitled to a pro rata share of the SoP Settlement Fund in proportion to its Claim Value as determined by SRF.

  • In consideration of the settlement by SIHNV of the SIHPL MPC Relevant Claims under the SIHPL Section 155 Proposal, SIHPL will (i) restate an existing loan owed by SIHPL to SIHNV of approx.

  • This additional contribution, referred to as the SIHPL MPC Settlement Fund, will be allocated proportionately among only the SIHPL MPC Claimants based on the Steinhoff Allocation Plan and under the terms of the SIHPL Section 155 Proposal.

  • SRF confirms that it is bound by the provisions in this SIHNV Composition Plan as if it were a party hereto and acknowledges and accepts its duties and obligations following from and in connection with the execution and implementation of this SIHNV Composition Plan and the SIHPL Section 155 Proposal, as is evidenced by its signature to this SIHNV Composition Plan included as Schedule 10 (SRF Signature Page).

  • This sum depends on the size of the group of the SIHPL MPC Claimants that is entitled to a share of the SoP Settlement Fund pursuant to the SIHPL Section 155 Proposal.

  • ZAR 62,000,000 and (ii) issue a loan note to SIHNV in the sum of the settlement consideration ultimately provided by SIHNV to the SIHPL MPC Claimants under the terms of the SIHPL Section 155 Proposal.

  • The SIHPL Section 155 Proposal, once sanctioned by the South African Court, will govern the treatment of certain Claims against SIHPL (including, for the avoidance of doubt, the contractual certain claims of the SIHPL Financial Creditors).16.23.

  • This additional contribution will strengthen the overall levels of support for the SIHPL Section 155 Proposal.

  • Given the inter-conditionality between both the SIHPL Section 155 Proposal and this SIHNV Composition Plan (see section 2.3 and paragraph 115 below), this support is critical for the successful implementation of the Steinhoff Group Settlement as a whole, and by consequence this SIHNV Composition Plan.20.

Related to SIHPL Section 155 Proposal

  • Acquisition Proposal has the meaning set forth in Section 5.03(a).

  • Alternative Proposal has the meaning set forth in Section 6.2(b).

  • Responsive Proposal means a Proposal that complies with the material provisions of this RFP.

  • Superior Proposal has the meaning set forth in Section 5.09(a).

  • Bid Proposal or “Proposal” means the bidder’s proposal submitted in response to the RFP.

  • Eligible Proposal means a Proposal that meets or exceeds the prescribed requirement, proceeding to the next stage of evaluation;

  • Unsolicited proposal means a written proposal for a public-private initiative that is submitted by a private entity for the purpose of entering into an agreement with the department but that is not in response to a formal solicitation or request issued by the department.

  • Proposal means the Technical Proposal and the Financial Proposal.

  • Request for Proposals (RFP means all documents, including those attached or incorporated by reference, used for soliciting proposals.