ITCL LLC Agreement means the Second Amended and Restated Limited Liability Company Agreement of ITCL, adopted and entered into as of January 15, 2009, by and among ITC, Jokhtaberidze and Gemstone.
Examples of ITCL LLC Agreement in a sentence
The foregoing shall be deemed to comply with the requirements of section 4.1(c) of the ITCL LLC Agreement.
Notwithstanding anything to the contrary herein, the transactions contemplated by the Plan and the consequences of the Plan's implementation as of the Effective Date shall not trigger any ITC Cellular Change of Control under the terms of the ITCL LLC Agreement or the PSA.
All key decisions related to the management of Magticom, however, are made on a 50/50 basis as provided in the ITCL LLC Agreement.
The Committee has disputed the nature and extent of benefits alleged by the Debtor; however, any Claims and Litigation Rights related to the validity of the Change of Control Provisions and the alleged benefits of the PSA and January 2009 amendments to the ITCL LLC Agreement have been preserved and deferred as provided in the Settlement Agreement detailed in Article V, Section I of this Disclosure Statement.
Such a sale would likely trigger the "Change of Control" provisions in the ITCL LLC Agreement which, as discussed above, would mean that the purchaser would receive significantly less management and voting rights and other protections that the Reorganized Debtor would maintain under the Plan.