LILCO definition
Examples of LILCO in a sentence
Parent (as therein defined), Seller, Buyer, and LIPA ACQUISITION CORP., a New York corporation ("LIPA Sub"), entered into an AGREEMENT AND PLAN OF EXCHANGE AND MERGER (the "Merger Agreement"), dated as of June 25, 1997, pursuant to which (i) LIPA Sub is to merge with and into Seller; (ii) Seller undertakes to form an entity for the purpose of receiving certain assets and properties of LILCO; and (iii) Seller is to enter into a generation purchase right agreement in substantially the form of this Agreement.
All capitalized terms used in this Agreement and not otherwise defined shall have the meanings assigned to them in the Power Supply Agreement, dated as of the date hereof, between LILCO and Buyer, attached to the Merger Agreement as Exhibit B (the "Power Supply Agreement").
The parties contemplate that discussions will continue with the Long Island Power Authority ("LIPA") to arrive at an agreement, mutually acceptable to each of BUG and LILCO, pursuant to which LIPA would acquire certain assets or securities of LILCO, the consideration for which would inure to the benefit of NYECO.
LIPA, LILCO and BUG have caused this Agreement to be signed by their respective officers thereunto duly authorized, all as of the date first above written.
The last record date of each of LILCO and BUG on or prior to the Effective Time which relates to a regular quarterly dividend on LILCO Common Stock or BUG Common Stock, as the case may be, shall be the same date and shall be prior to the Effective Time.
As soon as practicable after the Effective Time, the Company shall deposit with such bank or trust company mutually agreeable to LILCO and BUG (the "EXCHANGE AGENT"), certificates representing shares of Company Common Stock required to effect the issuances referred to in SECTION 2.1, together with cash payable in respect of fractional shares pursuant to SECTION 2.3(d).
Each of BUG and LILCO shall use all reasonable efforts to cause their respective affiliates (including any person who may be deemed to have become an affiliate after the date of the letter referred to in the prior sentence) to deliver to the Company on or prior to the Closing Date a written agreement customary for transactions of this nature that are to be accounted for as a pooling of interests and in form and substance reasonably satisfactory to BUG and LILCO.
Except pursuant to the terms of the LILCO Stock Option Agreement, BUG does not "beneficially own" (as such term is defined for purposes of Section 13(d) of the Exchange Act) any shares of LILCO Common Stock.
LIPA, LILCO and BU have undertaken negotiations as to various methods of accomplishing the objectives set forth in the Act and in connection with such negotiations, LIPA, LILCO and BU have reached agreement in principle on certain major issues in connection with a proposed transaction (the "Proposed Transaction").
Except pursuant to the terms of the BUG Stock Option Agreement, LILCO does not beneficially own" (as such term is defined for purposes of Section 13(d) of the Exchange Act) any shares of BUG Common Stock or BUG Preferred Stock.