RJET » Topics » Effective Date

This excerpt taken from the RJET 8-K filed Aug 18, 2009.
Effective Date” means the effective date of the Plan; provided that unless the Investor agrees otherwise, in no event shall the Effective Date occur (a) earlier than the date that the Bankruptcy Court approves and enters the order, in form and substance satisfactory to the Investor in its sole discretion, subject to Section 6.06 hereof, confirming the Plan (the “
This excerpt taken from the RJET 8-K filed Jun 23, 2009.
Effective Date” means the effective date of the Plan; provided that unless the Investor agrees otherwise, in no event shall the Effective Date occur (a) earlier than the date that the Bankruptcy Court approves and enters the order, in form and substance satisfactory to the Investor in its sole discretion, subject to Section 6.06 hereof, confirming the Plan (the “
This excerpt taken from the RJET 10-Q filed May 11, 2009.
Effective Date”) on which each of the following conditions precedent is satisfied or provided for in a manner reasonably satisfactory to the Administrative Agent, or duly waived in writing in accordance with Section 13.2, whereupon each Lender shall be obligated to fund the New Loan within 1 Business Day of receipt of the notice referred to in Section 2.1(j) below.
 
    (a) Amended and Restated Credit Agreement. The Administrative Agent shall have received counterparts of this Agreement duly executed by each of Borrowers, the Administrative Agent and the Lenders.
 
    (b) Final DIP Order. The Bankruptcy Court shall have entered the Final DIP Order, which order shall be in effect and unstayed as of the Effective Date and which order shall not have been reversed, modified or amended as a whole or in part without the prior written consent of the Administrative Agent.
 
    (c) Final Claim Order.  The Bankruptcy Court shall have entered the Final Claim Order, which order shall be in effect and unstayed as of the Effective Date and shall not have been reversed, modified or amended as a whole or in part without the prior written consent of the Continuing Lenders.
 
    (d) Loan Documents. The Administrative Agent shall have received such documents, instruments and agreements listed on Annex C.
 
    (e) Approvals. The Administrative Agent shall have received (i) satisfactory evidence that the Borrowers have obtained all required consents and approvals of all Persons, including all requisite Governmental Authorities, to the execution, delivery, performance and consummation of this Agreement and the other Loan Documents, or (ii) an officer’s certificate in form and substance reasonably satisfactory to the Administrative Agent affirming that no such consents or approvals are required.
 
    (f) Payment of Fees. The Borrowers shall have paid to the Administrative Agent the Fees required to be paid on the Effective Date and shall have reimbursed the Administrative Agent for all reasonable and documented fees, costs and expenses of closing presented as of the Effective Date to the extent required by this Agreement (including, for the avoidance of doubt, the administrative agency fee invoiced to the Borrowers prior to the date hereof).
 
    (g) Payment of Amounts under Existing DIP Credit Agreement.  The Borrowers shall have paid to the Administrative Agent (i) an amount equal to all accrued fees, principal, interest and other amounts payable to the Departing Lenders under the Existing DIP Credit Agreement, such that no amount shall remain outstanding for the account of any Departing Lender under the Existing DIP Credit Agreement and (ii) an amount equal to all fees and interest accrued under the Existing DIP Credit Agreement (including PIK Interest accrued from and after the Closing Date, even if previously converted to principal) and payable to the Continuing Lender, such that no amount under the Existing DIP Credit Agreement shall remain outstanding for the account of the Continuing Lender other than the principal amount of the Existing Loans (which, for the sake of clarity, will be governed by the terms of this Agreement on and after the Effective Date).
 
    (h) No Material Adverse Effect. There has been no Material Adverse Effect since the date of any Borrower’s Form 10-K or 10-Q most recently filed prior to the Effective Date as updated by subsequent public filings prior to the Effective Date and other written materials provided to the Administrative Agent or the Initial Lenders prior to the Effective Date (including, without limitation, the Projections, and revenue build and cash flow data delivered prior to the Effective Date).
 
    (i) Motions and Filings. The Administrative Agent’s reasonable determination that all motions, orders and other pleadings or related documents to be filed or submitted to the Bankruptcy Court in connection with the Loan Documents and the transactions contemplated thereby shall be consistent with the terms hereof.
 
    (j) Notice of Borrowing.  The Borrower Agent shall have delivered a notice of borrowing in form and substance reasonably satisfactory to the Administrative Agent not later than 4 Business Days following the entry of the Final DIP Order.
 
    (k) Representations and Warranties.  All representations and warranties in this Agreement and each other Loan Document shall be true and correct in all material respects (except to the extent any representation or warranty is qualified by materiality, Material Adverse Effect or word of like import, in which case such representation or warranty shall be true and correct in all respects) as of the Effective Date except to the extent such representations and warranties expressly refer to an earlier date, in which case they shall be true and correct as of such earlier date.
 
    (l) No Default or Event of Default.  No Default or Event of Default shall have occurred and be continuing.
 
On the Effective Date, without further action by any party to the Existing DIP Credit Agreement or this Agreement, (i) the Existing DIP Credit Agreement shall be automatically amended and restated in its entirety to read as this Agreement reads and each Lender and each Departing Lender (as defined below) shall be deemed to have consented thereto, (ii) the Commitment of each Lender shall be the amount set forth opposite the name of such Lender on Annex G hereto, and (iii) any Lender party to the Existing DIP Credit Agreement but not listed on Annex G hereto (a “
These excerpts taken from the RJET 10-K filed Mar 16, 2009.
Effective Date” means the first date on which all of the conditions precedent set forth in Section 4.01 are satisfied or waived.
 
Effective
Date
” means the first date on which all of the conditions precedent set
forth in Section 4.01 are
satisfied or waived.

 

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