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Case 16-42529 Doc 135 Filed 04/15/16 Entered 04/15/16 14:35:30 Main Document <br />Pg2of11 <br />(iv) the Debtors having represented that adequate and proper notice of the Motion has been given <br />and that no other or further notice need be given; (v) the relief requested in the Motion is in the <br />best interests of the Debtors and their estates and creditors; (vi) the requirements of Bankruptcy <br />Rule 6003 are satisfied by the contents of the Motion and the arguments and evidence presented <br />at the Hearing, to the extent it is applicable; (vii) there is good cause to waive the 14 -day stay <br />imposed by Bankruptcy Rule 6004(h), to the extent it is applicable; and (viii) the legal and <br />factual bases set forth in the Motion, the First Day Declaration and at the Hearing establish just <br />cause for the relief granted herein; <br />ORDERED that, pursuant to sections 105(a), 362 and 541 of the Bankruptcy Code, the <br />Motion is GRANTED on an interim basis in that: <br />The Equity Transfer Procedures (as such term is defined below) set forth <br />herein are approved in all respects, on an interim basis. <br />2. Any purchase, sale, trade or other transfer of Equity Securities (including <br />Options (as such term is defined below) to acquire stock) in violation of the Equity Transfer <br />Procedures set forth herein (including the notice requirements set forth in paragraph 4 below) <br />shall be null and void ab initio and shall confer no rights on the transferee. <br />The following notice and objection procedures for holding and <br />transferring Equity Securities (the "Equity Transfer Procedures") shall apply in the Debtors' <br />chapter 11 cases: <br />a. Certain Defined Terms. For purposes of this Interim Order: <br />(i) a "Substantial Equit, by older" is any person or entity that Beneficially <br />Owns (as defined below) at least 833,852 shares (representing <br />approximately 4.5% of the 18,530,028 issued and outstanding shares of <br />common stock) of PEC; (ii) "Beneficial Ownership" of Equity Securities <br />shall be determined in accordance with applicable rules under section 382 <br />of the IRC and the regulations promulgated thereunder and shall include <br />(a) direct and indirect ownership (e.g., a holding company would be <br />2 <br />