FPSO Trust Structure Sample Clauses

FPSO Trust Structure. The Company shall have transferred (a) 100% of the shares and the assignment of dividends of Arazi, the pledge over the Arazi Intercompany Loan and any applicable trust interests, and the shares of Lancaster (collectively, the “Encumbered Arazi/Lancaster Assets”), to an independent trust (or other similar bankruptcy remote structure as determined by, and satisfactory to, the Consenting Lenders, the Consenting 2024 Noteholders, Bradesco and the Company) formed outside of Brazil in a jurisdiction acceptable to the Consenting Lenders, the Consenting 2024 Noteholders and Bradesco, which shall be governed by terms agreed and documented between the Consenting Lenders, the Consenting 2024 Noteholders and Bradesco by no later than August 31, 2019;
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