Laserfiche WebLink
C81sd:2t26MQlMW3 D61ndEX3-EilegOW(DBM/2EntEtefpt'WQ7DHI AM2®48:lOesb"ain <br />D6ehiit iR P1Rggd1m6598 <br />C8Esd:2t161bkMU3 Dfi1AMA3-Eile(F!M=M/2EntEti3&flWDB81 AM2M48:1DesO"ain <br />D6ebihEilil PDggd2bb698 <br />P. Acquired Assets Property of Debtors' Estates. The Assets to be transferred <br />and/or assigned, as applicable, to the Buyers pursuant to the Sale Agreements are property of the <br />Debtors' estates and title thereto is vested in the Debtors' estates within the meaning of section <br />541(a) of the Banlwptcy Code. The Debtors are the sole and lawful ownersof the Assets. Subject <br />to the entry of this Order, the Debtors: (i) have full power and authority to deliver the Sale <br />Agreements and all other documents contemplated thereby; (ii) bave all of the power and authority <br />necessary to perform their obligations and to consummate the transactions contemplated by the <br />Sale Agreements; and (iii) have taken all corporate action necessary to authorize and approve the <br />Sale Agreements, the Sale Transaction, the assignment of the Assigned Contracts, and all other <br />actions required to be performed by the Debtors in order to consummate the transactions <br />contemplated in the Sale Agreements. No consents or approvals, other than those expressly <br />provided for in the Sale Agreements or this Order, are required for the Debtors to consummate the <br />Sale Transaction. <br />Q. Transfer of Assets and Assumed Liabilities. The transfer of the Assets and <br />Assumed Liabilities (as such term is defined in the Sale Agreements) in accordance with the terns <br />of this Order is integral to the Sale Agreements and is in the best interests of the Debtors, their <br />estates and their creditors, and the Debtors have an adequate business justification therefor. <br />R. Assumption and Assimment in Best Interests. The Debtors' assumption and <br />assignment of the Assigned Contracts pursuant to the terms of this Order is integral to the Sale <br />Transaction and is in the best interests of the Debtors, their estates, their creditors, and all other <br />parties in interest and represents the Debtors' exercise of sound and reasonable business judgment. <br />The Assigned Contracts being assigned to the Buyers are an integral pan of the Assets being <br />purchased by the Buyers, and accordingly, such assumption and assignment of the Assigned <br />10 <br />C0as&:21E61b9Ql=3 D61odEA3-Eile6MMUM/2EntEtetEtl9fQ1611I8=2&U:1Desb"ein <br />D6shi6p8 P@ggd3bbli98 <br />compensation to any party for any actual pecuniary loss to such party resulting from such default <br />under any of the Assigned Contracts within the meaning of section 365(bxl)(B) of the Bankruptcy <br />Code. Each of the Buyers has provided adequate assurance of future performance of and under the <br />Assigned Contracts, within the meaning of section 365(b)(1xC) of the Bankruptcy Code <br />(including to the extent, if any, modified by section 365(b)(3) of the Bankruptcy Code). The non - <br />Debtor parties to the Assigned Contracts were given notice and the opportunity to object and are <br />deemed to have consented pursuant to section 363(f)(2) of the Bankruptcy Code. Except as <br />expressly set forth in the Sale Agreements, the transfer of the Assigned Contracts will not subject <br />the Buyers or their assignees or designees, as applicable, to any liability whatsoever prior to the <br />Closing Date, or by reason of such transfer under any applicable Laws or based, in whole or in <br />part, on any theory of law or equity. <br />U. Free and Clear. The sale and assignment of the Assets to the respective Buyers <br />will be, as of the Closing Date, a legal, valid and effective transfer of such assets, and each such <br />transfer and assignment shall, upon the Closing Date, vest the respective Buyers with all right, <br />title, and interest of the Debtors to the Assets free and clear of all Interests, with any such Interests <br />to attach to the net proceeds to be received by the Debtors in the same priority and subject to the <br />same defenses and avoidability, if any, as were in existence on the Closing Date. None of the <br />Buyers would enter into the Sale Transaction if the sale of the Assets were not Gee and clear of all <br />Interests, or if the Buyers would, or in the future could, be liable for any such Interests. A sale of <br />the Assets other than one Gee and clear of all Interests would adversely impact the Debtors' estates <br />and would yield substantially less value for the Debtors' estates, with less certainty than the Sale <br />Transaction. There is no better available alternative for the Assets than the sales to the Buyers. <br />Contracts is reasonable and enhances the value of the Debtors' estates. Pursuant to section 365(f) <br />of the Bankruptcy Code, the Assigned Contracts shall be assigned and transferred to, and remain <br />in full force and effect for the benefit of, the Buyers notwithstanding any provision of the Assigned <br />Contracts or other restriction prohibiting their assignment or transfer. <br />S. Cure Costs. The Cure Costs required to be paid pursuant to section 365(b) of the <br />Bankruptcy Code, whether agreed or judicially resolved, and as set forth in the Cure Notice are <br />deemed to be the entire cure obligation due and owing under the Assigned Contracts under <br />Bankruptcy Code section 365(b). To the extent that any non -Debtor counterparty to any of the <br />Assigned Contracts failed to timely file an objection to any of the proposed Cure Costs filed with <br />the Bankruptcy Court, the cure cost listed in the Core Notice shall be deemed to be the entire cure <br />obligation due and owing under any of the applicable Assigned Contracts. Each provision of the <br />Assigned Contracts or applicable non -bankruptcy Law that purports to prohibit, restrict, or <br />condition or could be construed as prohibiting, restricting, or conditioning assignment of any <br />Assigned Contracts has been satisfied or is otherwise unenforceable under Bankruptcy Code <br />section 365. Upon the assignment to the Buyers and the payment of the relevant Core Costs by the <br />Buyers, as required by the Sale Agreements, each of the Assigned Contracts shall be deemed valid <br />and binding and in full force and effect in accordance with its terms, and all defaults thereunder, <br />if any, shall be deemed cured, subject to the provisions of this Order. <br />T. Adequate Assurance. The Debtors have met all of the requirements of section <br />365(b) of the Bankruptcy Code for each of the Assigned Contracts. The Debtors or the Buyers, as <br />applicable, have provided adequate assurance of cure of any default existing prior to the Closing <br />Date (as defined in the Sale Agreements) under any of the Assigned Contracts, within the meaning <br />of section 365(b)(IXA) of the Bankruptcy Code, and provided adequate assurance of <br />m <br />CSSas&:2lR4RAaWM3 D&DdEA3-EilefFd&=M/2EntEretbfW HHI8A22B41P:iDesOMain <br />D&hh*iB P@ggd43)b698 <br />V. Satisfaction of 363(f) Standards. The Debtors may sell and assign the Assets Gee <br />and clear of all Interests, because, with respect to each creditor asserting an Interest, one or more <br />of the standards set forth in sections 363(f)(I){5) of the Bankruptcy Code has been satisfied. <br />Those holders of Interests who did not object or who withdrew their objections to the Sale <br />Transaction or any Assumption/Assignment Notice are deemed to have consented to the Sale <br />Motion and the Sale Transaction under section 363(f)(2) of the Bankruptcy Code. Those holders <br />of Interests in the Assets who did object fall within one or more of the other subsections of section <br />363(f) of the Bankruptcy Code and are adequately protected by having their Interests (if any) attach <br />to the net proceeds of the Sale Transaction ultimately attributable to the Assets in which such <br />holders allege an Interest, in the same order of priority, with the same validity, force, and effect <br />that such holder had prior to the Sale Transaction, and subject to any claims and defenses the <br />Debtors and then estates may possess with respect thereto. An injunction against creditors and <br />third parties pursuing Interests is necessary to induce each of the Buyers to close the Sale <br />Transaction; the issuance of such an injunction is therefore necessary to avoid irreparable injury <br />to the Debtors' estates and will benefit all creditors. <br />W. No Successor Liability. Each of the Buyers, their Designated Purchasers) (as <br />defined in the applicable Sale Agreements), their respective designees, and their respective <br />predecessors, successors, assigns, affiliates, shareholders, members, partners, principals, directors, <br />officers, and employees (or equivalent ofany ofthe foregoing) (`Buyers' Related Persons") shall <br />have no obligations withrespect to any liabilities of the Debtors other than the Assumed Liabilities <br />and will not and shall not be deemed or considered, by any theory of law or equity, (i) to be a legal <br />successor in any respect to the Debtors or their estates as a result of the consummation of the Sale <br />Transaction contemplated by the Sale Agreements or any other event occurring in these Chapter <br />12 <br />13 <br />