EGC Intercompany Note definition

EGC Intercompany Note means that certain promissory note in the principal amount of $325.0 million between EPL, as the maker, and EGC, as the payee, and secured by a second priority lien on certain assets of EPL that secure EPL’s obligations under the First Lien Credit Agreement.
EGC Intercompany Note means the Secured Second Lien Promissory Note dated as of March 12, 2015, from EPL to EGC, in the original principal amount of $325.00 million.

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.

Related to EGC Intercompany Note

  • Intercompany Note means a promissory note substantially in the form of Exhibit I.

  • Intercompany Notes means, with respect to each Pledgor, all intercompany notes described in Schedule 11 to the Perfection Certificate and intercompany notes hereafter acquired by such Pledgor and all certificates, instruments or agreements evidencing such intercompany notes, and all assignments, amendments, restatements, supplements, extensions, renewals, replacements or modifications thereof to the extent permitted pursuant to the terms hereof.

  • Subordinated Intercompany Note means the Intercompany Subordinated Note, dated as of the Agreement Date, by and among Holdings, the Borrower and each Restricted Subsidiary of Holdings from time to time party thereto.

  • Global Intercompany Note means the global intercompany note substantially in the form of Exhibit G hereto.

  • Intercompany Indebtedness means Indebtedness of Company or any of its Subsidiaries which is owing to Company or any of its Subsidiaries.

  • Intercompany Loan shall have the meaning provided in Section 8.05(g).

  • Intercompany Loan Agreement has the meaning set forth in the Purchase and Sale Agreement.

  • Subordinated Intercompany Debt shall have the meaning assigned to such term in Section 6.01(e).

  • Intercompany Obligations as defined in the Guarantee and Collateral Agreement.

  • Intercompany Interest means an Interest in a Debtor held by another Debtor.

  • Intercompany Interests means an Interest in a Debtor held by another Debtor and, for the avoidance of doubt, excludes the Existing Equity Interests.

  • Permitted Intercompany Investments means Investments made by (a) a Loan Party to or in another Loan Party and (b) a Subsidiary that is not a Loan Party to or in another Subsidiary that is not a Loan Party.

  • Intercompany Loans shall have the meaning provided in Section 10.05(h).

  • Company Note has the meaning set forth in Section 3.1 of the Sale Agreement.

  • Intercompany Debt has the meaning specified in Section 7.02.

  • Subsidiary Security Agreement each Security Agreement made by each of the Subsidiary Guarantors (including any security agreement executed and delivered pursuant to subsection 8.17) in favor of the Administrative Agent for the benefit of the Lenders, substantially in the form of Exhibit K hereto, as the same may be amended, supplemented or otherwise modified from time to time.

  • Company Notes means the 5.500% Senior Notes of the Company due 2027 issued under the Indenture.

  • Intercompany Receivables means all account, note or loan payables and all advances (cash or otherwise) or any other extensions of credit that are receivable by the Acquired Companies, on the one hand, from Seller or any of its Affiliates (other than the Acquired Companies), on the other hand.

  • Deferred Intercompany Transaction has the meaning set forth in Treas. Reg. Section 1.1502-13.

  • Holdings Pledge Agreement means the Pledge Agreement of even date herewith executed by Holdings in favor of Agent, on behalf of itself and Lenders, pledging all Stock of Borrower.

  • U.S. Pledge Agreement shall have the meaning provided in Section 6.01(f).

  • Permitted Intercompany Advances means loans made by (a) a Loan Party to another Loan Party, (b) a Subsidiary of a Borrower that is not a Loan Party to another Subsidiary of a Borrower that is not a Loan Party and (c) a Subsidiary of a Borrower that is not a Loan Party to a Loan Party, so long as the parties thereto are party to the Intercompany Subordination Agreement.

  • Stock Pledge Agreements means one or more stock pledge agreements, in form and substance satisfactory to Agent, executed and delivered by Borrower and the Guarantors to Agent.

  • Parent Pledge Agreement means that certain Pledge Agreement, dated of the date hereof, made by Parent in favor of Agent.

  • Canadian Pledge Agreement means a pledge agreement, in form and substance reasonably satisfactory to the Administrative Agent, executed by the Borrower and each Guarantor that is a Canadian Subsidiary, pursuant to which each such Person pledges to the Collateral Agent all of its right, title and interest in and to all Stock of each Subsidiary in which it has an interest, as the same may be amended, restated, supplemented or otherwise modified from time to time.

  • Seller Note means the promissory note evidencing Xxxxxxxx’s repayment obligations in respect of the Seller Loan.