The following Restructuring & Insolvency precedent provides comprehensive and up to date legal information covering:
To: The persons listed in Schedule 1 to this letter [insert names of Lenders]
From: [insert name of solicitors for the Creditors' Committee or the name of the Chair]
Date: [insert date]
Appointment of Creditors' Committee
We refer to the discussions at the meeting of creditors convened by [insert name of debtor company] (the Company) to discuss the proposed restructuring.
Definitions and interpretation
In this letter, unless otherwise provided:
means a day other than Saturday, Sunday and public holidays when clearing banks generally are open for business in London;
means the Lender appointed to chair the Creditors' Committee under the Creditor's Committee Agreement;
any undrawn amount which a Lender has committed to make available to the Company (but excluding any undrawn uncommitted amounts);
the principal amount of a Lender's participation in any utilisation by the Company, in each case under the Finance Documents;
means those Lenders which have agreed to become Committee Members under the Creditors' Committee Agreement including the Chair as listed in Schedule 2;
means any actual, contingent or prospective creditor of the Company;
means the committee formed to represent the interests of the [Senior OR Unsecured OR Second Lien] Lenders;
Creditors' Committee Agreement
means the agreement between the Company and the Committee Members dated [insert date] setting out the terms of their appointment appearing at Schedule ;
means the finance and
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