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LBHI Class 12 – Equity Interests in LBHI.
(a) Impairment and Voting. LBHI Class 12 is impaired by the Plan. Each
holder of an Equity Interest in LBHI Class 12 is not entitled to vote to accept or reject the Plan
and is conclusively deemed to have rejected the Plan.
(b) Stock Exchange. On the Effective Date, all LBHI Stock shall be
cancelled and the Plan Trust Stock shall be issued to the Plan Trust which will hold such share
for the benefit of the holders of such former LBHI Stock consistent with their former relative
priority and economic entitlements; provided, however, that the Plan Trust may not exercise any
voting rights appurtenant thereto in conflict with Article VII of the Plan. On or promptly after
the Effective Date, the Plan Administrator shall file with the Securities and Exchange
Commission a Form 15 for the purpose of terminating the registration of any of LBHI’s publicly
traded securities.
(c) Distributions. Each holder of an Equity Interest in LBHI (through their
interest in the new share of LBHI common stock or otherwise) shall neither receive nor retain
any Property of the Estate or direct interest in Property of the Estate of LBHI on account of such
Equity Interests; provided, however, that in the event that all Allowed Claims in LBHI Classes 1
through 11 have been satisfied in full in accordance with the Bankruptcy Code and the Plan, each
holder of an Equity Interest in LBHI may receive its share of any remaining assets of LBHI
consistent with such holder’s rights of payment existing immediately prior to the
Commencement Date. Unless otherwise determined by the Plan Administrator, on the date that
LBHI’s Chapter 11 Case is closed in accordance with Section 6.6 of the Plan, the Plan Trust
Stock issued pursuant to subsection (b) above shall be deemed cancelled and of no further force
and effect provided that such cancellation does not adversely impact the Debtors’ estates.
LBHI Class 12 – Equity Interests in LBHI.
(a) Impairment and Voting. LBHI Class 12 is impaired by the Plan. Each
holder of an Equity Interest in LBHI Class 12 is not entitled to vote to accept or reject the Plan
and is conclusively deemed to have rejected the Plan.
(b) Stock Exchange. On the Effective Date, all LBHI Stock shall be
cancelled and the Plan Trust Stock shall be issued to the Plan Trust which will hold such share
for the benefit of the holders of such former LBHI Stock consistent with their former relative
priority and economic entitlements; provided, however, that the Plan Trust may not exercise any
voting rights appurtenant thereto in conflict with Article VII of the Plan. On or promptly after
the Effective Date, the Plan Administrator shall file with the Securities and Exchange
Commission a Form 15 for the purpose of terminating the registration of any of LBHI’s publicly
traded securities.
(c) Distributions. Each holder of an Equity Interest in LBHI (through their
interest in the new share of LBHI common stock or otherwise) shall neither receive nor retain
any Property of the Estate or direct interest in Property of the Estate of LBHI on account of such
Equity Interests; provided, however, that in the event that all Allowed Claims in LBHI Classes 1
through 11 have been satisfied in full in accordance with the Bankruptcy Code and the Plan, each
holder of an Equity Interest in LBHI may receive its share of any remaining assets of LBHI
consistent with such holder’s rights of payment existing immediately prior to the
Commencement Date. Unless otherwise determined by the Plan Administrator, on the date that
LBHI’s Chapter 11 Case is closed in accordance with Section 6.6 of the Plan, the Plan Trust
Stock issued pursuant to subsection (b) above shall be deemed cancelled and of no further force
and effect provided that such cancellation does not adversely impact the Debtors’ estates.
