The exchange offer and consent solicitation and the effectiveness of any supplemental indenture entered into pursuant to the exchange offer and consent solicitation are conditioned on the tenders and associated consents by holders of more than 50% of the Old Notes.The Issuers intend to enter into a supplemental indenture to effectuate the Proposed Amendments promptly after the receipt of the requisite consents for the Proposed Amendments. To the extent requisite consents for the Collateral Release have also been received, such supplemental indenture will also include the Collateral Release. To the extent that the requisite consents for the Collateral Release have not been obtained at the time such supplemental indenture is executed, such supplemental indenture will not include provisions effecting the Collateral Release, but if such requisite consents for the Collateral Release are later obtained, the Issuers will execute another supplemental indenture providing for the Collateral Release promptly after receipt of the requisite consents for the Collateral Release. Each of the foregoing supplemental indentures will be effective immediately upon execution thereof, but the provisions thereof will not be operative until all of the Old Notes that have been tendered prior to the date of such supplemental indenture have been accepted for payment and paid for in accordance with the terms of the exchange offer and consent solicitation.
Verso Paper Corp. Announces Exchange Offer For Outstanding Debt And Related Consent Solicitation
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