Creditors’ committee agreement
Creditors’ committee agreement

The following Restructuring & Insolvency precedent provides comprehensive and up to date legal information covering:

  • Creditors’ committee agreement
  • Recitals
  • 1 Definitions and interpretation
  • 2 Role of creditors' committee
  • 3 Membership of the creditors' committee
  • 4 Meetings—mechanics and voting
  • 5 Powers of the creditors’ committee
  • 6 Undertakings of the parties
  • 7 Termination
  • 8 Confidential information
  • More...

This Agreement is made [insert day and month] 20[insert year]

Parties

  1. 1

    [insert name of lender] a company incorporated in [England and Wales] under number [insert registered number] whose registered office is at [insert address];

  1. 2

    [insert name of lender] a company incorporated in [England and Wales] under number [insert registered number] whose registered office is at [insert address];

  1. 3

    [insert name of lender] a company incorporated in [England and Wales] under number [insert registered number] whose registered office is at [insert address];

    (each a Committee Member and together the Committee Members) whose contact details are set out in Schedule 1; and

  1. 4

    [insert name of the debtor company] a company incorporated in [England and Wales] under number [insert registered number] whose registered office is at [insert address] (the Company).

Recitals

    1. (A)

      The Company is negotiating with it's Lenders to agree a restructuring of its [business and] debt.

    1. (B)

      The Company [is seeking to negotiate OR has negotiated] a [Standstill Agreement and] Restructuring Agreement with certain Lenders.

    1. (C)

      The Committee Members have agreed to form a Creditor's Committee [at the request of the Company].

    1. (D)

      [insert name of chair] has agreed to act as the chair of the Creditors' Committee.

    1. (E)

      The Creditors' Committee will negotiate with the Company to implement a [Standstill Agreement and] Restructuring Agreement and will thereafter monitor the same.

    1. (F)

      [insert any further Recitals].

The parties agree:

    1. 1

      Definitions and

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