Restructuring Plans · glossary
An event listed in the terms of the Notes that lets each noteholder demand its money at once. Proposing the plan may itself be one, as an arrangement with creditors generally. So the lock-up carries a standstill and a waiver. Condition 9.1 · Chapter 3 · see Standstill
Explained in Chapter 3, Bondholder Committees and Cleansing Inside Information, of Restructuring Plans.
The main page for this term is Event of Default, in Security & Collateral.
The standstill and the waiver protect Valkenrade from its own plan. Proposing the plan may itself be an event of default under the Notes. That is an event that lets a noteholder demand its money at once. Without the waiver, any signer could do so while the plan goes through.Read Chapter 4, The Lock-up Agreement: Undertakings and Consent Fee →
Chapter 1 and this glossary are open to everyone; the whole edition is free to read with a free account until 31 January, and it stays open to an account opened by then.Chapter 1 of Restructuring Plans and this glossary are free to read; the rest of the edition is in the Library, at €12 a month or €79 for a Year Pass.
Related terms
Where this term lives
This term is part of one complete fictional deal, with every document attached and a test after every chapter. Open Restructuring Plans → · All terms A–Z →