Examples of EGC Intercompany Note in a sentence
Unanimous consent of the three Trustees will be required to settle the EGC Intercompany Note Dispute.
For example, the Objecting Parties proposed the following search term to the Debtors: “(EGC or ‘Energy XXI Gul Coast’) w/25 intercompany” in an effort to identify ESI relevant to the EGC Intercompany Note, which is a major source of unencumbered value that is being diverted away from EGC unsecured noteholders.
All Documents relating to “the creation of the EGC Intercompany Note Trust” as set forth on Page 2 of the Disclosure Statement Supplement, including all Documents relating to the determination to fund the EGC Intercompany Note Trust with 11.6% of the New Equity, as set forth on Page 3 of the Disclosure Statement Supplement.
The Debtors concede that “[w]ithout the funds from the EGC Intercompany Note, EPL would likely not have been able to obtain the capital necessary to pay down [its then] Revolving Credit Facility—EPL could not find access to third-party capital in the market on the same or better terms than the EGC Intercompany Note.” Discl.
First Lien Claims; (b) Second Lien Notes Claims; (c) Secured Tax Claims; (d) Trade Claims; or (e) Claims arising under the EGC Intercompany Note.
The Plan will grant derivative standing solely to (a) the trustee (the “EPL Trustee”) appointed by the EPL Unsecured Notes Trustee to commence an adversary proceeding to litigate or resolve the EGC Intercompany Note Dispute, (b) the trustee (the “EGC Trustee”) appointed by the EGC Unsecured Notes Trustee to defend this proceeding, and (c) the trustee appointed by the Second Lien Notes Trustee (the “Second Lien Trustee”) to defend this proceeding.
Even by its own terms, the EGC Intercompany Note was subordinated to the obligations under ECG’s First Lien Credit Agreement, and as long as any obligations under the First Lien Credit Agreement remained outstanding, EGC had no ability to take possession of, foreclose on, or take any other action against the collateral purportedly securing the Intercompany Note.
Any settlement in respect of the EGC Intercompany Note Dispute cannot dilute, waive, or otherwise affect the Secured Second Lien Notes Claim or the Second Lien Notes Deficiency Claim without the written consent of the Second Lien Notes Trustee.