Examples of NSNCo Group in a sentence
First Ranking New Secured Notes Security and intercompany debt obligations between IHCo and the NSNCo Group to be regulated by a separate security trust and subordination deed.
No member of the NSNCo Group may have any liabilities to any other Group entity outside of the NSNCo Group other than IHCo, and then only to the extent such liabilities are subject to acceptable subordination arrangements in favour of the New Secured Noteholders and pledged in favour of the New Secured Noteholders (subject to exceptions to be agreed, provided that any such agreed specific exception will be subject to release on enforcement).
Group Wide Restrictive Covenants Restrictive covenants in respect of the RigCo Group, the NSNCo Group and on a Group-wide basis as set out in Annex 4 (Group Wide Restrictive Covenants) to be included in each Secured Facility Agreement.
NSNCo The new holding company to be in place as a direct and wholly-owned special purpose subsidiary of IHCo NSNCo Group NSNCo and its Subsidiaries (as defined in Annex 3 (Common Terms and Definitions and Regularising Amendments for Secured Facility Agreements)).
Moreover, NSNCo and its subsidiaries (all of which are non-Debtors in these chapter 11 cases) also have 12 other operating accounts (the “ NSNCo Group OperationalAccounts”), which hold cash received by the NSNCo Group.
In summary, subject to exceptions for (a) payments relating to the operations of the Spare Parts Pool, (b) certain other intra-group management services, and (c) payments of cash made by NSNCo, NSNCo Group members cannot transfer cash to entities except to other members thereof.
Any payment of cash between members of the NSNCo Group may be made by contribution or subscription for equity, payment of a dividend, repayment of an existing intra-group loan, or by advancing cash as a loan, as applicable.
NSNCo, however, may not have intra-group loan liabilities except to IHCo or other NSNCo Group members.
There are no restrictions on use of funds in these accounts within the NSNCo Group, although cash received which constitutes “Net Realization Proceeds” under the NSN Indenture must be paid to NSNCo and held in the NSN Mandatory Offer Holding Account.
Any upstreaming of cash to IHCo from the NSNCo Group is, therefore, made through NSNCo. Lastly, NSNCo Group members other than NSNCo may not owe intra-group loan liabilities except to other NSNCo Group members.