Page:United States Statutes at Large Volume 49 Part 1.djvu/958

 74 TH CONGRESS. SESS. I. CH. 774. AUGUST 27, 1935. 913 of creditors and stockholders as are not otherwise provided for, pro- visions for the issuance t o any such creditor or st ockholder of options or warrants to receive, or to subscribe for, securities of the reor- ganized company in such amounts and upon such terms and condi- tions as may be set forth in the plan ; (4) shall provide for fixed charges (including fix ed interest on funded debt, interest on unfunded debt, amortization of discount on funded debt, and rent for leased railroads) in such an amount that, after due considera- tion of the probable prospective earnings of the property in light of its earnings experience and all other relevant f acts, there shall be adequate coverage of such fixed charges by the probable earnings available for the payment thereof ; (5) shall provide adequate means for the execution of the plan, which may include the transfer of any interest in or contr ol of all or any part of the property of the debto r to a noth er co rpor ation or corpo rati ons, the merge r or cons olida tion of the debtor with another corporation or corporations, the retention of all or any part of the property by the debtor, the sale of all or any part of the property of the debtor either subject to or free from any lien at not less than a fair upset price, the distribution of all or any ass ets, or the pro ceeds d erived f rom the sale t hereof, among those having an interest therein, the satisfaction or modifica- tion of any liens, indentures, or other similar interests, the curing or waiver of defaults, the extension of maturity dates of outstanding securities, the reduction in principal and/or rate of interest and alteration of other terms of such securities, the amendment of the charter of the debtor, and/or the issuance of securities of either the debtor or any such other corporation or corporations for cash, or in exchange for existing securities, or in satisfaction of cla ims or rights or for other appropriate purposes ; and may deal with all or any part of the property of the debtor ; may reject contracts of the debtor which are executory in whole or in part, including unexpired leases ; and may include any other appropriate provisions not incon- sistent with this section. The ado ption of an exe cutory c ontract or une xpired l ease by the Executory cont ract trustee or trustees of a debtor shall not preclude a rejection of such or u nexpired l ease. contract or lease in a plan of reorganization approved hereunder, and any claim resulting from such rejection shall not have priority Adoption of, to vest over any other claims against the debtor because such contract or no clai m wit h pri ority . lease had been previously adopted . The term "securities" shall "Se curi tie s" con. include evidences of indebtedness either secured or unsecured, bonds, st rued. stock, certificates of beneficial interest therein, certificates of bene- ficial interest in property, options, and warrants to receive or to subscribe for, securities. The term" stockholders" shall include the "Stockholders ." holders of voting-trust certificates. The term "creditors" shall "creditors ." include, for all purposes of this section all holders of claims of wha tever c haracter agains t the de btor or its pr operty, whether or not such claims would otherwise constitute provable claims under this Act, including the holder of a claim under a contract executory in whole or in part including an unexpired lease. The term " claims " includes debts, whether liquidated or unliqui- "claims ." dated, securities (other than stock and option warrants to subscribe to stock), liens, or other interests of whatever character. For all Priority of designated purposes of this section unsecured claims, which would have been unsecured claims. entitled to priority if a receiver in equity of the property of the debtor had been appointed by a Federal court on the day of the approval of the petition, shall be entitled to such priority and the holders of such claims shall be treated as a separate class or classes of creditors. In case an executory contract or unexpired lease of Re;ected executory property shall be rejected, or shall not have been adopted by a e•ncracts, etc' 104019•-36	58