EOTT LLC definition
Examples of EOTT LLC in a sentence
No Credit Party will sell, transfer or otherwise dispose of capital stock of or partnership or other interests in any of its Subsidiaries except to EOTT LLC or a Wholly Owned Subsidiary of EOTT LLC.
During the term of this Agreement, EOTT LLC will maintain in effect the Risk Management Policies and adhere to and conduct its risk management activities, and cause the other Credit Parties to adhere to and conduct their respective risk management activities, in accordance with such policies.
Each Credit Party will perform all material obligations it is required to perform under the terms of each indenture, including in the case of EOTT LLC, the New Senior Notes, mortgage, deed of trust, security agreement, lease and franchise and each material agreement, contract or other instrument or obligation to which it is a party or by which it or any of its properties is bound.
EOTT LLC will not issue any securities other than membership interests and any options or warrants giving the holders thereof only the right to acquire such interests.
In addition, each Credit Party shall observe, perform or comply with any agreement with any Person or any term or condition of any instrument, if such agreement or instrument is materially significant to such Credit Party or to EOTT LLC on a Consolidated basis or materially significant to any Guarantor, unless any such failure to so observe, perform or comply is remedied within the applicable period of grace (if any) provided in such agreement or instrument.
The management incentive plan will be administered by the compensation committee of the board of managers of EOTT LLC.
On the Effective Date, EOTT LLC will take all necessary action to (i) execute the New Indenture and (ii) issue, distribute, and transfer the New Notes to the Indenture Trustee for subsequent distribution to the holders of Allowed Senior Note Claims in accordance with the terms of the Plan.
EOTT LLC will cause each such new Subsidiary to deliver to the Term Lender Agent, simultaneously with its delivery of such an instrument of joinder, written evidence satisfactory to the Term Lender Agent and its counsel that such Subsidiary has taken all corporate, limited liability company or partnership action necessary to duly approve and authorize its execution, delivery and performance of such instrument and any other documents that it is required to execute.
The LC Agent shall have received evidence which shall be satisfactory to the LC Agent that (A) EOTT LLC shall have been formed as a limited liability company under Delaware state law, (B) all necessary action shall have been taken by EOTT MLP to transfer all of its equity interest in EOTT GP to EOTT LLC and (C) all necessary action shall have been taken to authorize and issue the New GP Interest to EOTT GP and the New LP Interest to EOTT LLC.
The LC Participants shall have received an officer's certificate of EOTT LLC dated as of the Closing Date as to the solvency of each of the Credit Parties following the consummation of the transactions contemplated herein, in form and substance satisfactory to the LC Agent.