Debt Assumption Agreement definition
Examples of Debt Assumption Agreement in a sentence
EGSL and the Assumption Party have entered into the Debt Assumption Agreement, dated as of December 31, 2007 (as amended or supplemented from time to time, the "Debt Assumption Agreement"), pursuant to which, among other things, the Assumption Party agreed to assume certain obligations of EGSL on the Outstanding Debt and agreed to execute and deliver to EGSL and the Trustee this Instrument of Assumption as evidence of the assumption of certain of such obligations.
All terms not otherwise defined herein and defined in the Debt Repayment Agreement as amended and supplemented by the Debt Assumption Agreement shall have the same meaning herein as in the Debt Repayment Agreement as so amended and supplemented.
The first is that the amount of long-term debt of EGSI to be assumed by ETI pursuant to the Debt Assumption Agreement (DAA) between EGSI and ETI for the benefit of EGSL will include an amount equal to ETI's allocated share of the EGSI preference stock to compensate EGSL for the fact that ETI cannot assume any of EGSI's preference stock.
If there is any term or provision of the Amended Debt Assumption Agreement that conflicts with this Fifth Amendment, the term or provision of this Fifth Amendment shall govern and prevail.
The Operating Company By -------------------------------- Title: [Assumption Party] By -------------------------------- Title: [Note: This Debt Assumption Agreement may be used for debt issued under more than one indenture.