Camp Mystic - Chapter 11 Plan Terms

Plan Terms

Overview

• The plan is a liquidating plan: substantially all assets of Camp Mystic, LLC and Natural Fountains Properties, Inc. are sold to one or more unrelated third parties under Bankruptcy Court order, and two plan administrators distribute the sale proceeds and the debtors' other assets and then wind down and dissolve the estates.
• Camp Mystic and its affiliates, Natural Fountains Properties, Mystic Camps Family Partnership, Ltd. and Mystic Camps Management, LLC, filed Chapter 11 on June 24, 2026 in the Southern District of Texas; the debtors are the plan proponents, and the plan was signed by CRO Karen Nicolaou and filed with a disclosure statement dated Sept. 25, 2026 that carries the business history, prepetition capital structure and liquidation analysis.
• Two purchase agreements drive the case, one for the Camp Mystic assets and one for the Natural Fountains Properties assets, and the plan contemplates that a single agreement may serve as both: the Camp Mystic APA is defined as an agreement that may be the NFP APA.
• Although filed as one document, the plan is a separate Chapter 11 plan for each debtor, and the court may confirm it as to one debtor even if it does not as to another.
• The plan as filed does not name the Camp Mystic or Natural Fountains purchaser or state the consideration either will pay, and it leaves blank the stalking horse purchaser's identity, the bidding procedures section that defines its bid protections, the docket number of the bidding procedures order and the voting deadline.
• Epiq Corporate Restructuring serves as noticing, claims and solicitation agent; an official committee of unsecured creditors has been appointed and dissolves on the Effective Date, after which neither the debtors nor the administrators fund its members' or advisors' fees.

Sale Transactions

• The confirmation order approves both sales, and each closes on the Effective Date or a later date agreed with the applicable purchaser.
• Each transaction is a plan sale of all or substantially all of the selling debtor's estate property, and the confirmation order's approval binds the debtors, their estates, the purchasers, all holders of claims and interests and all parties in interest, whether or not they objected.
• Assets vest in the purchasers free and clear under sections 363(f), 1123(a)(5)(D) and 1141(c), with liens, claims, interests and other encumbrances attaching to the sale proceeds with the same validity, priority and extent they had in the assets immediately before confirmation.
• Purchaser protections run in parallel for both buyers:
  • the confirmation order is to find each purchaser a good-faith purchaser entitled to section 363(m) protection;
  • neither purchaser takes successor, transferee, de facto merger, alter ego, mere continuation, environmental, ERISA, tax, labor, employment or benefits liability except as explicitly provided in its APA;
  • all holders of claims, allowed or not, are barred, estopped and enjoined after the Effective Date from asserting claims against or seeking recovery from either purchaser; and
  • each purchaser may operate, use, acquire or dispose of property and settle claims and causes of action after the Effective Date without court supervision.
• The plan's releases and injunctions do not limit the purchasers' rights to enforce, sue on, settle or compromise the rights and claims retained by or transferred to them under the plan, the sale documents or the confirmation order.
• If the stalking horse purchaser is the winning bidder, the Stalking Horse APA becomes the NFP APA; the stalking horse is defined as the purchaser of the Natural Fountains assets under that agreement whether or not it prevails at the auction.
• Transfers under the plan, including the sales and any acquisition of real or personal property by a purchaser or its affiliates from the debtors' creditors in connection with consummating the sales or from other parties in connection with closing or integral to financing them, are exempt to the fullest extent of section 1146(a) from recording, stamp, conveyance, mortgage, real estate transfer, sales and use taxes and UCC and regulatory filing fees.
• Transactions are to be structured to minimize current taxes payable on consummation and to optimize tax efficiency, including preservation of favorable tax attributes, for the debtors and the purchasers.

Bid Protections

• The bid protections, if any, carry administrative priority that rises above all other administrative claims in an alternate transaction: the debtors' obligation to pay the NFP bid protections is allowed as an administrative expense under sections 503(b) and 507(a)(2), and if the Natural Fountains assets go to an alternate transaction, the protections become allowed administrative claims with priority over all other administrative expense claims of the kinds specified in sections 503(b) and 507.
• Payment goes to the stalking horse purchaser on the terms of the Stalking Horse APA without further court order; the protections themselves are defined by cross-reference to a bidding procedures section left blank in the plan.

Sources of Consideration and Distribution Mechanics

• Distributions are funded from available cash, proceeds of the two sales and net proceeds from monetizing the remaining assets, meaning any assets not sold or transferred in the sales.
• Available cash is measured debtor by debtor as all cash available to that debtor, including cash on hand at the Effective Date, cash proceeds of any wind-down asset sales by the administrators, any wind-down amount left at the conclusion of the wind down, the Camp Mystic consideration and the Natural Fountains consideration.
• Distributable cash is what remains of a debtor's available cash after funding all allowed administrative, priority tax, other priority, deposit, other secured and professional fee claims and the wind-down amount; each debtor's distributable cash funds its own escrow account, and the four accounts (Camp Mystic, Natural Fountains, Mystic Camps Family Partnership and Mystic Camps Management) fund general unsecured recoveries and wrongful death recoveries beyond insurance, with residual wind-down reserve funds separately distributed to the same holders at the end of the wind down.
• Insurance comes first: where a claim is covered by a policy, payment is made first from policy proceeds, only the balance is treated under the claim's class, and no plan distribution is made until the holder has exhausted its remedies under the policy.
• Recovery limits and de minimis mechanics: no postpetition interest accrues except as applicable bankruptcy law requires; no holder receives more than 100% of its allowed claim; no cash payment under $100 is required; and if the cash available for the final distribution is less than the cost of distributing it, the administrators may donate the funds to an unaffiliated charity of their choice.
• Any claim paid, satisfied or assumed by a purchaser in the sales may be adjusted or expunged on the claims register without an objection or further court order.
• Undeliverable distributions become unclaimed property 180 days after the distribution date (90 days for the final distribution) and revert to the post-Effective Date debtors notwithstanding escheat laws; a holder that fails to supply a requested tax form within 90 days forfeits the distribution; the debtors and administrators may set off estate claims against a distribution on at least 14 calendar days' notice; claims filed after the bar date receive nothing unless deemed timely by final order on or before the confirmation hearing; and no claim may be filed or amended after the Effective Date without court or administrator authorization.

Treatment of Claims and Interests

• Administrative claims (unclassified) are paid in cash in full, absent agreement to different treatment: on the Effective Date if allowed by then, within 45 days after an allowance order becomes a final order if later, or on terms fixed by final order.
• Professional fee claims (unclassified) are paid first from the Professional Fee Reserve Account, an interest-bearing account the debtors must fund before the Effective Date from professionals' estimates delivered two business days prior and must maintain until all allowed professional fee claims are paid in full; any shortfall is paid by the administrators as allowed administrative claims, and the account cannot be used for secured, priority or administrative claims until professional fee claims are satisfied or reserved for.
• Priority tax claims (unclassified) receive cash equal to the full allowed amount or treatment consistent with section 1129(a)(9), and U.S. Trustee fees due before the Effective Date are paid on the Effective Date, with quarterly fees and reports continuing until each case is closed, dismissed or converted.
• The classified claims and interests are treated as follows:
  • Class 1, other priority claims (unimpaired, presumed to accept, not voting): cash equal to the allowed amount, paid as soon as practicable after the latest of the Effective Date, allowance, or a date the holder agrees to.
  • Class 2, deposit claims (impaired, entitled to vote): each holder of a section 507(a)(7) priority deposit claim elects on the Class 2 ballot between cash equal to the allowed amount and the deposit election, which transfers the full deposit claim to the Camp Mystic or Natural Fountains purchaser to be held in a segregated account and credited toward future camp sessions and is available only if the stalking horse purchaser, or another bidder electing to continue the camp, buys the debtors' assets; the priority portion of any deposit is capped at $3,800, and any amount deposited with Camp Mystic above that cap rides in Class 5 as an excess deposit claim.
  • Class 3, other secured claims (unimpaired, presumed to accept, not voting): payment in full in cash, delivery of the collateral plus any section 506(b) interest, or other treatment rendering the claim unimpaired.
  • Class 4, wrongful death claims (impaired, entitled to vote): holders liquidate their claims in the tort system beginning on the Lift Stay Date, and once allowed by final judgment recover first pro rata from the debtors' insurance policies until the applicable occurrence limits are fully exhausted, then pro rata with Class 5 from the applicable escrow account for any remaining balance, subject to a 100% cap.
  • Class 5, general unsecured claims, including excess deposit claims and the claims on the Natural Fountains promissory notes (impaired, entitled to vote): a pro rata share, together with allowed wrongful death claims, of the applicable escrow account; a general unsecured claim assumed by a purchaser is deemed paid in full and recovers nothing from the escrow accounts.
  • Class 6, intercompany claims (impaired or unimpaired, not voting, presumed to accept or deemed to reject): reinstated, set off, settled, distributed, contributed, cancelled and released with no distribution, or such other treatment as the administrators reasonably determine, and they must choose the treatment most beneficial to holders of general unsecured and wrongful death claims.
  • Class 7, intercompany interests (unimpaired, presumed to accept, not voting): unaltered and left outstanding with the same holders for administrative convenience, subject to the administrators' power to merge, dissolve or liquidate the post-Effective Date debtors, with no property distributed on account of the interests.
  • Class 8, existing equity interests, meaning all non-debtor interests in Mystic Camps Family Partnership and Mystic Camps Management (impaired, deemed to reject, not voting): interests are discharged, cancelled, released and extinguished with no recovery, while one limited partnership interest in Mystic Camps Family Partnership and one membership interest in Mystic Camps Management are issued to each plan administrator to hold as custodian for former equity holders in the event all allowed claims are satisfied in full; those custodial interests are cancelled when all the cases are closed unless the administrators determine otherwise or cancellation would adversely affect the estates.
• Section 1129(a)(10) is to be satisfied by acceptance from one or more voting classes, and the debtors request cramdown under section 1129(b) as to any class deemed to reject, reserving the same right as to any voting class that rejects.
• A class with no holder allowed in an amount greater than zero for voting purposes as of the confirmation hearing is treated as vacant and disregarded under section 1129(a)(8), and a voting class in which no eligible holder votes is presumed to accept; the debtors and administrators also reserve the right to reclassify any allowed claim or interest to reflect contractual, legal or equitable subordination, including under section 510(b).

Wrongful Death Claims and the Path Back to the Tort System

• Class 4 claims are liquidated in the tort system, not before the Bankruptcy Court: on the Lift Stay Date the automatic stay is deemed modified without further order, holders may commence or recommence litigation against the post-Effective Date debtors in the forum where the prepetition lawsuits are pending solely to liquidate their claims, and a final judgment fixes the allowed amount against the applicable debtor.
• The Lift Stay Date falls 30 days after the later of (a) the date the U.S. District Court for the Southern District of Texas enters an order deciding the debtors' section 157(b)(5) motion to transfer the prepetition lawsuits to that district (Case No. 4:26-mc-01321, ECF 1) and (b) the date the Western or Southern District of Texas, as applicable, decides the abstention and remand motions pending in the prepetition lawsuits. The plan describes the abstention and remand motions as pending and keys the trigger to a transfer ruling still to come, so the Lift Stay Date was not fixed when the plan was filed.
• The prepetition lawsuits are five Western District of Texas actions: Bellows v. Camp Mystic, LLC (No. 1:26-cv-01916); Getten v. Natural Fountains Properties, Inc. (No. 1:26-cv-01919); Peck v. Camp Mystic, LLC (No. 1:26-cv-01922); Naylor v. Camp Mystic, LLC (No. 1:26-cv-01923); and Steward v. Camp Mystic, LLC (No. 1:26-cv-01926).
• Wrongful death claims are defined broadly as any asserted or assertable personal injury, wrongful death or survival claim against any covered party attributable to or arising from the July 4, 2025 flood under any theory, including vicarious liability, respondeat superior, premises liability and negligence or employment-based theories such as negligent hiring, supervision or retention, and they expressly include all claims asserted or assertable in the prepetition lawsuits and all claims held by the additional parties: Lacy M. Lawrence and John B. Lawrence, individually and as representatives and heirs of the estates of H.R.L. and R.M.L.; Jill and Patrick Marsh; Katie and Clarke Baker; and Catherine and Calvin Smajstrla.
• Covered parties are the debtors, the post-Effective Date debtors and the individual defendants (Willetta "Tweety" Eastland, George Albritton Eastland as personal representative of the Estate of Richard "Dick" Eastland, Edward S. Eastland, Mary E. "Mary Liz" Eastland and William Neely Bonner III), together with each of their successors, affiliates, officers, directors, equity holders, managers, employees, agents, volunteers and professionals and their heirs, executors and estates, to the extent covered by the debtors' insurance policies and indemnification obligations.
• On the defense side, the post-Effective Date debtors retain their defense rights, meaning the right to defend and assert counterclaims in the prepetition lawsuits and related suits, and those rights are excluded from the administrators' authority over retained causes of action, just as wrongful death claims are excluded from the administrators' claims-reconciliation authority. The post-Effective Date debtors also retain authority to litigate to judgment, settle or compromise the wrongful death claims and the prepetition lawsuits, and on and after the Lift Stay Date their governing bodies and the individual defendants retain the right to defend the wrongful death claims in the appropriate forum.
• The retention-of-jurisdiction article closes with a proviso that the plan's stay-lifting and tort-forum liquidation provisions are given full force and effect.

Insurance

• Except as the plan or Plan Supplement otherwise provides, each debtor is deemed on the Effective Date to assume all insurance policies under section 365(a); policies in force and not expired on the Effective Date continue in accordance with their terms and are treated as executory contracts to the extent applicable, and the blanket contract rejection expressly excludes the policies.
• Defense and indemnity coverage remains available to all covered individuals, and the debtors may not terminate or reduce coverage under any policy in effect before the Effective Date, including any tail policy, and must satisfy their obligations under the policies in full in the ordinary course.
• Nothing in the plan affects, impairs or prejudices the rights or defenses of carriers, insureds, the debtors, the post-Effective Date debtors or the administrators, including coverage defenses, and all causes of action relating to the policies and to the debtors' indemnification obligations are retained.

Executory Contracts and Employee Programs

• All executory contracts and unexpired leases not previously assumed, assumed and assigned, or rejected are deemed rejected on the Effective Date, other than the insurance policies, contracts subject to an assumption motion pending on the Confirmation Date, contracts on the Schedule of Assumed Executory Contracts and Unexpired Leases, and contracts subject to an unresolved cure dispute, which are resolved in accordance with the sale transactions.
• Cure amounts, including cures of $0, are paid on the Effective Date or on other agreed terms, with disputed cures paid after a final order; assumption releases all monetary and non-monetary defaults arising before assumption, expunges related proofs of claim, and voids anti-assignment, change-of-control and ipso facto provisions in the assumed contracts.
• All employment policies and compensation and benefit plans, including savings, retirement, healthcare, disability, severance, incentive and life and accidental death and dismemberment insurance plans, are treated as executory contracts and rejected on the Effective Date.
• Rejection damages claims must be filed within 30 days after the Effective Date or are automatically disallowed and forever barred, and if allowed are classified and treated as Class 5 general unsecured claims.

Plan Administrators

• Two administrators, each designated in the Plan Supplement and appointed on the Effective Date, run the post-Effective Date estates: the Camp Mystic plan administrator administers the plan for Camp Mystic, Mystic Camps Family Partnership and Mystic Camps Management, and the Natural Fountains plan administrator does so for Natural Fountains, Mystic Camps Family Partnership and Mystic Camps Management, with the two acting collectively for Mystic Camps Management and Mystic Camps Family Partnership. Their identity, compensation, authority and scope of services come in the Plan Administrator Agreements, also filed with the Plan Supplement.
• Governance: the administrators become the sole officers of the post-Effective Date debtors and act as the sole officers, directors, managers and governing body of Mystic Camps Management and Mystic Camps Family Partnership, whose existing officers, directors, managers and governing bodies are deemed to have resigned; the Natural Fountains administrator joins the governing bodies of Natural Fountains and Mystic Camps Management and the Camp Mystic administrator those of Camp Mystic and Mystic Camps Management; officers of Camp Mystic and Natural Fountains are deemed to have resigned, while their directors and managers continue on the governing bodies unless the Plan Supplement provides otherwise, and the administrators may continue to employ former officers, including under a transition services agreement.
• Their powers, exercisable without Bankruptcy Court or governing-body approval except as the plan, confirmation order or administrator agreement restricts, include effectuating the plan and prosecuting appeal-related litigation; controlling claims reconciliation other than wrongful death claims and previously allowed claims; making distributions; funding the Wind Down Reserve and establishing and funding the escrow accounts; directing the wind down, including liquidating, selling or abandoning remaining assets; prosecuting, settling or abandoning the retained claims and causes of action other than the defense rights; retaining and paying professionals; handling tax returns and requesting expedited section 505(b) determinations; and closing the cases.
• Retention runs from the Effective Date until the court closes the cases, removes them for cause, or one resigns on notice and a successor is appointed; the post-Effective Date debtors and their estates indemnify them for losses in that capacity except losses resulting from bad faith, gross negligence, willful misconduct or criminal conduct, and the administrator agreements may add customary indemnification.
• Surplus mechanic: if the administrators collectively determine the Wind Down Reserve exceeds what its purpose requires, they may transfer the surplus to the escrow accounts in proportion to each debtor's contribution to the reserve.

Wind Down

• The wind-down amount is the cash the debtors and the administrators determine sufficient to fund the final wind down plus all U.S. Trustee fees through its conclusion, and it funds a segregated Wind Down Reserve that also covers the administrators' post-Effective Date duties, the payments provided for under the plan and the closing of the cases.
• Residual reserve funds are distributed promptly to holders of wrongful death and general unsecured claims until those claims are paid in full, then to holders of intercompany claims and existing equity interests, with the residual going to each debtor's creditors in proportion to that debtor's contribution to the reserve. Disbursing agent fees are paid from the reserve and are not netted from creditor distributions.
• Remaining assets, retained claims and causes of action and contracts assumed but not assigned vest in each post-Effective Date debtor free and clear under sections 1141(b) and 1141(c), and the estates continue after the Effective Date solely to wind down and liquidate remaining assets, pursue the retained claims and causes of action, file tax returns and administer the plan.
• After disputed claims are resolved or reserved for and required distributions are made, each post-Effective Date debtor is merged, dissolved or liquidated and its intercompany claims, intercompany interests and existing equity interests adjusted, settled or cancelled, unless the administrators determine dissolution would adversely affect the remaining assets; the confirmation order suffices to obtain a certificate of dissolution from the Texas secretary of state, and the administrators file the Rule 3022 closing documents promptly after full administration.

Retained Claims and Causes of Action; Tolling Agreements

• The plan preserves rather than settles the estates' claims against the Eastland family: the retained claims and causes of action, to be filed as a Plan Supplement document before the confirmation hearing, expressly include all claims and causes of action the debtors may have against the Eastland family, the Eastland trusts and each of their related parties, all causes of action related to the insurance policies and indemnification obligations, all claims and causes of action subject to the tolling agreements, and the post-Effective Date debtors' defense rights. The debtor release does not release them.
• The tolling agreements, to be entered into by the debtors with the Eastland family and the Eastland trusts, toll the statutory deadline for the debtors or the administrators to object to those parties' claims and to bring causes of action against them, including avoidance actions; for any claim subject to a tolling agreement, the objection deadline is the later of the plan's claims objection deadline and the date set in the agreement.
• The Eastland family is defined as Willetta A. Eastland, Cathryn L. Eastland, Edward S. Eastland, Frank G. Albritton, George A. Eastland, Leslie D. Eastland, Mary E. Eastland, Richard G. Eastland Jr. and the Estate of Richard G. Eastland; the Eastland trusts are the Richard G. Eastland Appointment Trust Under Article 4 UW of Ann E. Spear, the 1990 Richard G. Eastland Generation-Skipping Trusts, The Anna A. Eastland 2023 Trust and The Caroline K. Eastland 2023 Trust, and any successors.
• Natural Fountains is the borrower under two promissory notes, one dated March 13, 2014 with Richard G. Eastland, as trustee of the Appointment Trust, as lender, and one dated March 4, 2024 with him as trustee of the 1990 Generation-Skipping Trusts as lender; claims on those notes are Class 5 general unsecured claims.
• No entity other than a released party may rely on the absence of a specific reference to a cause of action in the plan, the Plan Supplement or the disclosure statement as an indication that the administrators or post-Effective Date debtors will not pursue it.

Key Dates

• Petition date: June 24, 2026.
• General bar date: Sept. 18, 2026, set by the bar date order at Docket No. 176.
• Voting deadline: left blank in the plan as filed.
• Lift Stay Date: 30 days after the later of the two district court rulings described above.
• Administrative claims bar date: 30 days after the Effective Date, with section 503(b)(9) claims instead subject to the general bar date and U.S. Trustee fees, already-allowed claims and claims already asserted by timely proof of claim excluded.
• Final fee applications: 45 days after the Effective Date, or later as agreed with the administrators, with objections due 21 days after a fee claim is filed.
• Rejection damages claims: 30 days after the Effective Date.
• Claims objection deadline: 180 days after the Effective Date, extendable on presentment of an order, and later for claims covered by a tolling agreement.

Releases

• The debtor release runs from the debtors, the post-Effective Date debtors and their estates to each released party: the debtors, the plan administrators, the Camp Mystic purchaser, the Natural Fountains purchaser, the stalking horse purchaser and each of their related parties, a defined group reaching affiliates, current and former directors, managers, officers and equity holders, funds, predecessors, successors, partners, members, employees, agents, trustees and professionals. No non-released party is a released party.
• Scope covers claims and causes of action, including derivative claims, arising from the debtors and their capital structure, management, ownership and operation, the assertion of rights and remedies against them, avoidance actions, intercompany transactions, the in- and out-of-court restructuring efforts, the Chapter 11 cases, the negotiation and consummation of the restructuring transactions, the disclosure statement, the plan and Plan Supplement and the two sale transactions, through the Effective Date.
• The debtor release carves out post-Effective Date obligations under the plan or implementing documents, acts or omissions determined by final order to have constituted actual fraud, willful misconduct or gross negligence, the retained claims and causes of action, and any non-released party.
• The third-party release is opt-in only: releasing parties are the released parties themselves, each holder of a claim or interest that affirmatively opts in through the release opt-in box included on the ballots and the non-voting status packages, and their related parties solely to the extent they could assert claims derivatively. Its scope mirrors the debtor release and it does not waive causes of action arising from willful misconduct, actual or criminal fraud or gross negligence of the applicable released party as determined by final order.
• Beyond that proviso, the third-party release carves out post-Effective Date obligations and the non-released parties but, unlike the debtor release, contains no carve-out for the retained claims and causes of action. The plan provides that entry of the confirmation order constitutes a finding that the third-party release is consensual, essential to confirmation, given for good and valuable consideration and a bar to any releasing party asserting a released claim.
• A non-released party means any of the individual defendants, Willetta "Tweety" Eastland, George Albritton Eastland as personal representative of the Estate of Richard "Dick" Eastland, Edward S. Eastland, Mary E. "Mary Liz" Eastland and William Neely Bonner III, or their related parties, but the exclusion attaches only with respect to a cause of action for which that entity is found liable by final order of a court of competent jurisdiction for a wrongful death claim arising from the July 4, 2025 flood.
• Lien releases and cancellation: on the Effective Date, concurrently with the applicable distributions, all mortgages, deeds of trust, liens, pledges and other security interests against estate property are fully released and discharged and revert to the debtors, and all existing security interests, side letters, fee letters and credit documents are terminated except as needed to evidence a holder's right to payment; holders of other secured claims must take the steps the administrators request to record the cancellations, and the administrators may make those filings on their behalf.

Exculpation and Injunction

• Exculpation reaches only the debtors and the committee and each of its members, and it does not extend to the purchasers or to the plan administrators in that capacity. It covers acts and omissions connected to the Chapter 11 cases, the negotiation and filing of the disclosure statement, plan, Plan Supplement and the two sale transactions, avoidance claims, the pursuit of confirmation and consummation and the administration of the plan through the Effective Date, except acts or omissions determined by final order to have constituted actual fraud, willful misconduct or gross negligence. Separately, from the Confirmation Date the disbursing agent, which may be the debtors, the plan administrators or an entity they select, is exculpated for making plan distributions and implementing the plan, except for gross negligence, willful misconduct, fraud, malpractice, criminal conduct or ultra vires acts.
• The exculpated parties are deemed to have acted in good faith and in compliance with applicable law in soliciting votes and distributing consideration, and are not liable for violation of any law governing solicitation or those distributions.
• The injunction permanently bars holders of claims, interests and causes of action that are released, discharged or exculpated from, as against the debtors, the post-Effective Date debtors, the exculpated parties and the released parties, commencing or continuing any action; enforcing, attaching, collecting or recovering on any judgment or order; creating, perfecting or enforcing any encumbrance against those entities or their property or estates; asserting any setoff, subrogation or recoupment absent a motion filed on or before the Effective Date; or continuing any action on claims released or settled under the plan.
• On entry of the confirmation order, all holders of claims and interests and their current and former employees, agents, officers, directors, principals and direct and indirect affiliates are enjoined from taking any action to interfere with implementation or consummation, and each holder that votes or accepts, or is eligible to accept, distributions or reinstatement is deemed to have consented to the injunction. Except as the plan otherwise provides, stays and injunctions in existence at confirmation remain in effect until the protected property leaves the estates or, for all others, until the cases are closed or dismissed by final order, while the plan's own injunctions last indefinitely.

General Settlement, Conditions Precedent, Waiver and Amendment

• The plan's general settlement of claims, interests and controversies is approved only among the parties that agreed to it or expressly entered written settlements; class treatment is otherwise afforded through confirmation under section 1129.
• The Effective Date is conditioned on: court approval of both sale transactions in form and substance acceptable to the two purchasers, with all closing conditions other than the Effective Date satisfied; approval of the disclosure statement under section 1125; entry of a confirmation order that has not been stayed, reversed, vacated or amended without the debtors' consent; receipt of all authorizations, consents and regulatory approvals needed to implement the plan and both sales; full funding of the Professional Fee Reserve Account; appointment and acceptance by both plan administrators; effectiveness of all requisite governmental and third-party filings and approvals of the restructuring transactions; execution and delivery of all plan documents; payment in full of all U.S. Trustee fees then due; and full consummation of the restructuring transactions.
• The debtors may waive any condition without notice, leave or court order, but need the consent of the Camp Mystic or Natural Fountains purchaser as to that purchaser, its sale transaction or its sale documents.
• The plan may be amended, modified or supplemented by the debtors consistent with the consultation and consent rights in the two APAs and section 1127, without additional section 1125 disclosure; after confirmation the debtors may cure defects or reconcile inconsistencies in the plan or confirmation order so long as holders' treatment is not materially and adversely affected, and a holder that accepted is deemed to accept the plan as amended. The debtors reserve the right to revoke or withdraw the plan as to any or all debtors before the Effective Date, in which case the plan and any embodied settlement is null and void as to that debtor and no rights are waived or prejudiced.
• Where the plan and a Plan Supplement document conflict, the Plan Supplement document controls unless it specifies otherwise; the plan controls over the disclosure statement and other implementing documents, and the confirmation order controls over any irreconcilable plan provision.