Marketing Subsidiary definition
Examples of Marketing Subsidiary in a sentence
Each Gas Marketing Subsidiary will promptly comply with any and all covenants and provisions of the Guaranty and all other Loan Papers executed by such Gas Marketing Subsidiary.
CT Operating and each Gas Marketing Subsidiary will be required to make customary representations and warranties required by Majority Banks of guarantors.
No consent, approval, authorization or order of any court or governmental authority or third party is required in connection with the execution and delivery by Company, CT Operating or any Gas Marketing Subsidiary of the Loan Papers or to consummate the transactions contemplated hereby or thereby.
The foregoing provisions shall also apply to any payments received by any Bank from a Gas Marketing Subsidiary respecting a payment under the Guaranty of such Gas Marketing Subsidiary.
Company, CT Operating and each Gas Marketing Subsidiary is qualified or licensed to do business in those states wherein it owns or leases property or in which the conduct of its business requires it so to qualify.
The Guaranty and the other Loan Papers executed by CT Operating and each Gas Marketing Subsidiary are the legal and binding obligations of CT Operating and each Gas Marketing Subsidiary, enforceable in accordance with their respective terms, except as limited by bankruptcy, insolvency or other laws of general application relating to the enforcement of creditors' rights.
At the Effective Time, (i) the certificate of formation of POPB Marketing, as in effect immediately prior to the Effective Time, shall be the certificate of formation of the Marketing Subsidiary, (ii) the limited liability company agreement of POPB Marketing, as in effect immediately prior to the Effective Time, shall be the limited liability company agreement of the Marketing Subsidiary, and (iii) the Company shall continue as the sole member of the Marketing Subsidiary.
Any corporation, a majority of whose capital stock with voting power, under ordinary circumstances, to elect directors is, at the date of determination, directly or indirectly owned by any person as to which a determination of subsidiary status is to be made, including a Marketing Subsidiary.
Concurrently with the delivery of such Application, the Borrower shall notify the Administrative Agent whether or not the requested Letter of Credit is a Marketing Subsidiary Letter of Credit.
Without limiting the generality of the foregoing, and subject thereto, at the Effective Time, all the property, rights, privileges, powers and franchises of each of POPB Marketing, Oryx Wink Marketing and Oryx Permian Marketing shall vest in the Marketing Subsidiary, and all debts, liabilities, obligations, restrictions and duties of each of POPB Marketing, Oryx Wink Marketing and Oryx Permian Marketing shall become the debts, liabilities, obligations, restrictions and duties of the Marketing Subsidiary.