CIESA definition
Examples of CIESA in a sentence
The Petrobras Parties agree to, and shall cause CIESA and/or TGS to, provide the necessary information requested by Ponderosa and its Affiliates in connection with any arbitration or similar proceedings relating to CIESA and/or TGS in which Ponderosa or any of its Affiliates has an interest.
The Borrower will not, and will not permit any of its Subsidiaries to consummate (or agree in writing to consummate during the time the Loans hereunder remain outstanding) any Asset Disposition other than any Asset Disposition of (i) the Capital Stock of CIESA, (ii) the Capital Stock of TGS or (iii) the Tendered Shares.
The Parties shall take all Necessary Actions to allow the willing Party to complete the acquisition of the CIESA Class A Shares.
In February 2004, the bankruptcy of CIESA was requested before a Commercial Court located in the city of Buenos Aires, by a party who claimed to hold bonds issued by CIESA for a principal amount of US$10,300,000.
Each of the Parties hereby acknowledges that it is familiar with the business, operations and management of each of TGS and CIESA.
Each of Ponderosa, EPCA and EACH agree to support the CIESA Restructuring to the extent such CIESA Restructuring (i) is on commercially reasonable terms in light of the present financial condition of CIESA and (ii) either (x) results in Ponderosa owning, directly or indirectly, the CIESA B Shares to be transferred pursuant to Section 1.5(b), or (y) does not dilute Ponderosa’s remaining ten percent (10%) indirect interest in CIESA.
Notwithstanding the foregoing, none of Ponderosa, EPCA, EACH or any of their respective Affiliates shall be obligated to make any financial contribution, whether in the form of securities, cash, cash equivalents or otherwise, in connection with the CIESA Restructuring pursuant to this Section 4.5.
At all times the Borrower shall cause its Capital Stock in CIESA to be voted against any resolution proposing (a) the giving by CIESA of any consent or approval to any new or additional Liens on the Capital Stock of TGS in favor of any Person, or (b) the sale of any Capital Stock of TGS owned by CIESA.
The Parties shall cooperate in good faith to (i) agree on the final terms of the New Shareholders Agreement in accordance with the principles set forth on Appendix C and (ii) form the Trust in accordance with the principles set forth on Appendix B, unless PESA elects not to form the Trust and instead designates an alternative entity or entities to receive the CIESA A Shares and CIESA B Shares pursuant to Section 1.3(b).
As a condition to closing, the Selling Party shall deliver letters of resignations from the members of the SC, the Boards of Petrobras Hispano, PEPCA, CIESA, TGS and any other TGS Group Company and statutory audit committee members nominated by Selling Party.