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-36- <br />92. Nothing has come to the attention of the Monitor that would suggest that the <br />Applicants have not been in compliance with the terms of the Initial Order, the Claims Procedure <br />Order, the Meetings Order and/or the CCAA generally. <br />93. Cline and Marret have entered into a support agreement pursuant to which Marret <br />(on behalf of the Secured Noteholders) has agreed to support the Recapitalization and the Plan. <br />94. If the Plan is approved by this Honourable Court, it will allow the Applicants to <br />emerge from the CCAA Proceedings with a capital structure with significantly less debt and the <br />opportunity to continue to operate as a going concern. <br />95. In consideration of all of the factors described herein, the Monitor recommends <br />that the Meetings proceed in accordance with the terms of the Meetings Order and that members <br />of the Voting Classes vote in favour of the resolutions to approve the Plan. It is the Monitor's <br />view that the Plan is fair and reasonable, including the fact that the Plan provides for no <br />recoveries to holders of Equity Claims or Equity Interests. <br />