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STANDSTILLAGREEMENTThisAgreementismadeasofthis_________,_________,_________(M/D/Y),betweenAAAInc.andallitsdomesticSubsidiariesandAffiliates('AAA')andtheInformalCommitteeofUnsecuredCreditorsofAAA(the'Committee').WITNESSETHWHEREAS,on_________,_________,_________(M/D/Y)(the'CommitteeOrganizationDate'),theCommitteeorganizeditself,attherequestofAAA,andasinitiallyorganizediscomprisedofthefollowingcompanies:BBB,Inc.CCC,DDD,Inc.,EEECompany,FFF,LLC,GGG,PacificAssetManagement;andWHEREAS,theCommitteehasadvisedAAAthatithasretainedtheservicesofHHHLLP('TB&F')asitscounsel;andWHEREAS,AAAisdesirousofenteringintoanoutofcourtcomposition,extensionorotheracceptableagreementprovidingforthetreatmentofitsoutstandingclaims(the'CompositionAgreement')andfurther,AAAhasagreedtoallowtheCommitteeareasonableperiodoftimetoconductsuchduediligenceasitmayrequiretodeterminethefeasibilityandadvisabilityofenteringintosuchaCompositionAgreement(the'StandstillPeriod'),andWHEREAS,otherthanasprovidedinparagraph2ofthisAgreement,AAAhasagreedthatduringtheStandstillPerioditshallmakenopayments,transfersorreturnsofmerchandiseonaccountofanyitsdebtsorobligationstoanyonethataroseoraccruedpriortothedateofthisAgreement,withoutthewrittenconsentoftheCommittee.NOWTHEREFORE,forvaluableconsideration,includingtheforbearanceofeachCommitteemember,thepartiesherebyagreeasfollows:1.ThisAgreementshallremainineffectandshallterminateontheearlierof:(a)5:00p.m.(PacificTime)on_________,_________,_________(M/D/Y);(b)theCommitteeandAAAagree,inawritingexecutedinthesamemannerasthisAgreement,tomodify,replaceorterminatethisAgreement;(c)AAAdefaultsunderorotherwiseviolatesthetermsofthisAgreementandtheCommitteeterminatesthisAgreementoranorderforreliefundertheBankruptcyCodeisenteredagainstAAAoranassignmentforthebenefitofcreditorsisexecutedbyAAA(collectively,the'TerminationDate').2.DuringtheStandstillPeriod,AAAshallmakenopayments,transfersorreturnsofmerchandiseonaccountofanyofitspastduedebtsasofthedateofthisAgreementincluding,butnotlimitedto,goodsormerchandisethatwereshippedordeliveredpriortothedateofthisAgreement;PROVIDEDHOWEVER,duringtheStandstillPeriod,AAAshallusefundstomaintainitsexistingoperationssubstantiallyinaccordancewithabudgettobeagreedupon.3.DuringtheStandstillperiod,AAAshallconductitsbusinessintheordinarycourseandshalltakenoaction,withoutthepriorwrittenconsentoftheCommitteeandsellorotherwisetransferitsassets,includinginventory,viabulksale(s)orotherwise,outsideoftheordinarycourseofitsbusiness.4.Subjecttotheseparateletteragreement,AAAwillpaythereasonablefeesandexpensesincurredbytheCommittee'sprofessionalsduringtheperiodbetweentheCommitteeOrganizationDateandtheTerminationDate.ContemporaneouslywiththeexecutionofthisAgreement,AAAwillwiretransfer$,_________toTB&F.AttheconclusionoftheStandstillPeriod,TB&FshallprovideAAA,anditscounsel,withabillingstatementsettingforththeidentityofeachTB&FprofessionalwhohasperformedservicesforandonbehalfoftheCommittee,theratechargedbyeachsuchprofessional,andtheaggregatetimespentbyeachfortheserviceprovided.TB&FacknowledgesthatduringtheStandstillPeriodnolegalservicesshallbeprovidedforanyindividualCommitteeMemberoronbehalfofanyotherentityotherthantheCommitteeinconnectionwithAAAand/orthisAgreement.TB&FwillalsoforwardcopiesoftheexpensesincurredbytheCommitteemember.5.DuringtheStandstillPeriod,andsolongasAAAhascompliedwithallofitsobligationsundertheStandstillAgreement,themembersoftheCommitteewill(a)forebearfromexercisingsuchrightsastheymayhaveagainstAAAforpaymentorcollectionofsumsthatmaybeduetothem,and(b)eitherjointlyorindividually,forebearfromparticipatinginthefilingofaninvoluntarybankruptcyproceedingorstatecourtreceivershipagainstAAA.SuchforbearanceisnotawaiverofanyportionoftheclaimsofanyCommitteemember.6.ThisAgreementdoesnotcreateajointventureorcreateapartnershipbetweentheparties.7.ThisAgreementconstitutestheentireagreementbetweenthepartieswithrespecttothesubjectmatterhereof.AllprioragreementsandunderstandingsaremergedhereinandtherearenooralunderstandingsapartformthetermsofthisAgreement.ThisAgreementmaybealtered,amendedormodifiedonlybyawritteninstrumentsignedbyallpartiestothisAgreement.8.ThisAgreementandanyissuesarisinghereunderwillbegovernedbythelawsoftheStateofCalifornia.9.ThisAgreementmaybeexecutedinoneormorecounterparts,includingfacsimiletransmittals,eachofwhichshallbedeemedanoriginal,andallofwhichshallconstituteoneandthesameagreement.INWITNESSWHEREOF,thepartiesheretohaveenteredintothisAgreementthedayandyearfirstabovewritten.AAAINC.By:/s/_________Title:__________PrintedName:___BBBBy:_____________CommitteeMember:______Company:______________PrintedName:__________
本文标题:STANDSTILL AGREEMENT
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