Examples of New NGC Entities in a sentence
Prior to the Distribution, each of the parties will execute and deliver all Ancillary Agreements to which it is a party, and will cause the other New NGC Entities and HII Entities, as applicable, to execute and deliver any Ancillary Agreements to which such Persons are parties.
Except as set forth in Section 2.3(b), the HII Entities, on the one hand, and the New NGC Entities, on the other hand, hereby terminate any and all agreements, arrangements, commitments or understandings (including intercompany work orders), whether or not in writing, between or among any HII Entity, on the one hand, and any New NGC Entity, on the other hand, effective as of the Distribution.
Each of New NGC Entities and HII Entities will use reasonable best efforts to prevent the destruction of any Insurance Policy, to notify the other Group of the proposed destruction of any Insurance Policy, and to give such other Group reasonable opportunity to take possession of such Insurance Policy prior to such destruction.
NGC and the New NGC Entities have Xxxxxx consent to grant Fortress priority perfected security interests and liens (the “Permitted Fortress Liens”) over the respective assets of NGC and the New NGC Entities, as more particularly described in Recital E above and the Term Sheet, to secure NGC’s obligations under the Fortress Credit Facility.
By this Agreement, Xxxxxx agrees to and does amend any and all provisions of the Loan Documents prohibiting, limiting, or otherwise restricting in any way NGC’s and the New NGC Entities’ entry into the Fortress Credit Facility and performance of their respective obligations contained in the Term Sheet (the “Fortress Transactions”) for the benefit of NGC, the New NGC Entities, and Fortress by completely removing those restrictions.