Examples of New Securityholders Agreement in a sentence
The New Securityholders Agreement shall include appropriate provisions assuring the compliance with the Jones Act.
On the Effective Date, Reorganized Hornbeck shall enter into and deliver the New Securityholders Agreement, in substantially the form included in the Plan Supplement, to each Holder of New Equity and New Warrants, and such parties shall be deemed to, without further notice or action, to have agreed to be bound thereby as if an original party thereto as a “Securityholder,” in each case without the need for execution by any party thereto other than Reorganized Hornbeck.
Furthermore, there will be no change to the provisions of the New Securityholders Agreement (as defined in Item 8) and related Side Letter to the New Securityholders Agreement, including the provisions thereof regarding the membership of Catalina’s Board of Directors as discussed at Item 8, as a result of the additional investments.
All of the New Equity and the New Jones Act Warrants issued under the Plan shall be duly authorized, validly issued, fully paid, and non-assessable consistent with the terms of the New Securityholders Agreement and the New Jones Act Warrant Agreement.
Receipt by any Person or Entity of New Equity or the New Warrants shall be deemed as its agreement to the New Corporate Governance Documents and its agreement that it is a party to, and bound by all terms and conditions of, the New Securityholders Agreement as if an original party thereto as a “Securityholder,” as the same may be amended or modified from time to time following the Effective Date in accordance with their terms.
No material corporate governance or enterprise risk management changes are presently contemplated following the closing of the Proposed Acquisition except for the corporate governance changes regarding Catalina as disclosed in Item 8– i.e., pursuant to the New Securityholders Agreement and related Side Letter.
Under the New Securityholders Agreement, among other matters, Catalina’s Board of Directors will consist of nine members as follows: (a) five members who effectively are appointed by the Limited Partnerships (the “AGM-Appointed Directors”); (b) two members who are appointed by certain Management Sellers; and (c) two independent members who effectively are appointed by the Limited Partnerships.
A copy of the New Securityholders Agreement, with certain provisions redacted as agreed with the Department following its in camera review, is attached as Exhibit P.
A copy of the Side Letter to the New Securityholders Agreement, with certain provisions redacted as agreed with the Department following its in camera review, is attached as Exhibit Q.
No material corporate governance or enterprise risk management changes are presently contemplated following the closing of the Proposed Acquisition except for the corporate governance changes regarding Catalina as disclosed in Item 8 – i.e., pursuant to the New Securityholders Agreement and related Side Letter.