5. Notice to Holders of Publicly Traded Securities
page 250 of the Plan
5. Notice to Holders of Publicly Traded Securities
To ensure accurate identification of the Entities entitled to receive distributions pursuant to the Seventh Amended Plan, if any, on account of any publicly-traded securities underlying Claims and Equity Interests in Class 2 (Senior Notes Claims), Class 3 (Senior Subordinated Notes Claims), Class 14 (CCB-1 Guarantees Claims), Class 15 (CCB-2 Guarantees Claims), Class 16 (PIERS Claims), Class 19 (Preferred Equity Interests), Class 21 (Dime Warrants), and Class 22 (Common Equity Interests), and to ensure that any and all elections made by any holder of record of such securities as of the Voting and Election Deadline can be matched with such holders’ securities as of such date, the following procedures will apply:
If you hold a Claim or Equity Interest in Classes 2, 3, 14, 15, 16, 19, 21, or 22, and on your Ballot or Election Form, as applicable, you make one or more elections—either to opt in or to opt out of the Non-Debtor Release Provision, to receive Reorganized Common Stock, or to receive Runoff Notes—then the Voting Nominee holding your Senior Notes, Senior Subordinated Notes, CCB-1 Preferred Securities, CCB-2 Preferred Securities, PIERS Preferred Securities, Preferred Equity Interests,
Dime Warrants, or Common Equity Interests (collectively, the “Securities”), as applicable, must “tender” such Securities into the appropriate election account established at DTC or instruct Euroclear or Clearstream to “block” such Securities, as applicable, including if you elect to receive Runoff Notes and Reorganized Common Stock. Failure by any holder of a Claim or Equity Interest in such Classes to tender or block the Securities held by such holder will render such holders’ elections ineffective.
Additionally, if you hold a Claim or Equity Interest in Classes 2, 3, 14, 15, 16, 19, or 22,regardless of whether or not you opt out of the Non-Debtor Release Provision on your Ballot, as applicable, then the Voting Nominee holding your Securities must tender such Securities into the appropriate election account with respect to the Non-Debtor Release Provision, or block such Securities, as applicable.
To make a Runoff Notes or Reorganized Common Stock Election, the Voting Nominee holding your Securities must tender your Securities into the appropriate election account established at DTC for this purpose or instruct Euroclear or Clearstream to block such Securities, as applicable. If you opt out of the Non-Debtor Release Provision, you are NOT eligible to make a Runoff Notes or Reorganized Common Stock Election, as you are not eligible to receive any distribution pursuant to the Seventh Amended Plan. Notwithstanding the foregoing, except with respect to holders of Dime Warrants in Class 21 who do not elect by the Voting and Election Deadline to either opt in to or opt out of the Debtor Release Provision, by electing to participate in the Runoff Notes Election or Reorganized Common Stock Election and by directing your Voting Nominee to tender or block your Securities, you will have manifested your affirmative consent to grant the releases set forth in the Non-Debtor Release
Provision and will receive your distribution, and the affirmative consent from such Runoff Notes Election or Reorganized Common Stock Election will override any decision to the contrary to opt out of the Non-Debtor Release Provision.
Securities may NOT be withdrawn from any DTC election account or unblocked after the applicable Voting Nominee has either tendered them to the election account at DTC or instructed Euroclear or Clearstream to block such Securities. Once the Securities have been tendered or blocked, NO further trading will be permitted in the Securities. Similarly, registered holders of Claims or Equity Interests in Classes 14, 15, 21, and 22, who do not hold their securities through DTC or Voting Nominees, who have made elections—either to opt in or to opt out of the Non-Debtor Release Provision, to receive Reorganized Common Stock, or to receive Runoff Notes—will be prohibited from transferring such securities. If the Seventh Amended Plan is not confirmed, DTC will, in accordance with its customary practices and procedures, return all Securities held in the election account to the applicable Voting Nominee for credit to the account of the applicable beneficial holder. In addition, Euroclear and Clearstream will, in accordance with their customary practices and procedures, unblock all blocked Securities.
If your Voting Nominee does not either tender your Securities or, if applicable, request that they be blocked, any Runoff Notes Election or Reorganized Common Stock Election made by you will not be honored, you will not be entitled to receive a distribution pursuant to the Seventh Amended Plan on the Effective Date, and you shall be treated in accordance with Section 31.6(c) of the Seventh Amended Plan.
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