Examples of GGP LP in a sentence
On the Effective Date, the joint venture agreement between GGP LP and TRS JV Holdco, LLC shall be assumed, and the Plan Debtors shall make any cure payments required thereunder.
Affiliate Partner Note, the TRUPS Junior Subordinated Notes, the GGPLP LLC Preferred Equity Units, the GGP LP Preferred Equity Units, and the REIT Preferred Stock Interests is provided in Exhibit 3 “Illustrative Calculations for Debt Amounts”.
GGP is the general partner of GGP Limited Partnership (“GGP LP”), the company through which the Group’s business is primarily conducted.9 GGP LP in turn controls, directly or indirectly, GGPLP, L.L.C., The Rouse Company LP (“TRCLP”), and General Growth Management, Inc.
The principal components of this debt were as follows:Under an indenture dated April 16, 2007, GGP LP issued $1.55 billion of 3.98% Exchangeable Senior Notes (the “GGP LP Notes”).
GGP Capital Trust I, a non-Debtor entity, subsequently issued $200 million of trust preferred securities (“TRUPS”) to outside investors and $6.2 million of common equity to GGP LP.
The 2006 Facility is guaranteed by Rouse L.L.C., with GGP LP pledging its equity interest in GGPLP, L.L.C., TRCLP and Rouse LLC and Rouse LLC pledging its general partnership interest in TRCLP to secure the obligations under the 2006 Facility.
The facility was not scheduled to mature until February 24, 2010, but fell into default in late 2008 through a cross-default provision triggered by the default of one of the GGP Group’s property-level mortgage loans.On February 24, 2006, GGP LP issued $206.2 million of junior subordinated notes to GGP Capital Trust I (“the Junior Subordinated Notes”).
Additionally GGP LP is the promissor on a note in the amount of $93,712,500, due on December 1, 2012, payable to Ivanhoe Capital, LP, and secured by a pledge of GGP LP’s shares in the GGP Ivanhoe, Inc.
GGP, GGP LP and GGPLP, L.L.C. are guarantors, and 24 Debtor subsidiaries are borrowers under the 2008 Facility, which is secured by mortgages and deeds of trust on 24 properties.
The Junior Subordinated Notes are subordinate in payment to all indebtedness of GGP LP, other than trade debt.