EGSL definition
Examples of EGSL in a sentence
Pursuant to and in accordance with the Order, EGSL entered into a Certificate and Articles of Merger and an Agreement and Plan of Merger and Reorganization of Entergy Gulf States Louisiana, Inc.
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.
As compensation to EGSI for the allocation of assets to the Assumption Party described in Recital 7.(c), and notwithstanding the sole liability of EGSL on the Outstanding Debt resulting from the Jurisdictional Separation, the Assumption Party wishes to assume certain liabilities of EGSL relating to the Outstanding Debt on the terms and to the extent set forth herein.
In accordance with the Jurisdictional Separation: EGSL is liable for the obligations of EGSI under the Agreement relating to the Outstanding Debt; ETI is not liable under the Agreement relating to the Outstanding Debt; ETI has been allocated certain transmission, distribution and generation assets located in Texas, and an undivided interest in certain generation assets located in Louisiana; and Upon the effectiveness of the LA Merger, EGSL L.L.C. will become the successor hereto to EGSL.
Exhibit A describes the methodology used to calculate ETI's obligations under the DAA, including the payment responsibilities of EGSL and ETI with respect to each series of Assumed Debt.
EGSL and ETI will make payments to the applicable Trustees in accordance with the corrected DAA.
No provision of this Instrument of Assumption shall be waived, amended or supplemented except by a written instrument executed by EGSL, the Assumption Party and the Trustee.
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.
The execution of this instrument shall not affect the rights of the Trustees, the parishes or governmental entities that issued any of the Assumed PCRB Debt or the holders of the Assumed Debt to enforce the obligations of EGSL and ETI to the Trustees as provided in the Instruments of Assumption if either EGSL or ETI fail to make the payments required by the corrected DAA.
EGSL agrees that it will direct any monies paid by the Assumption Party to the Trustee for the voluntary redemption of Outstanding Debt consistent with prudent business practices.