Oldco definition
Examples of Oldco in a sentence
GM Oldco has heretofore furnished to the Lender a copy of its audited Consolidated balance sheet as at December 31, 2008, with the opinion thereon of Deloitte & Touche LLP or such other independent auditor acceptable to the Lenders, a copy of which has been provided to the Lender.
All such financial statements are materially complete and correct and fairly present the Consolidated financial condition of GM Oldco and its Consolidated Subsidiaries and the Consolidated results of their operations for the fiscal year ended on said date, all in accordance with GAAP applied on a consistent basis.
GM Oldco has heretofore furnished to the Initial Noteholder a copy of its audited Consolidated balance sheet as at December 31, 2008, with the opinion thereon of Deloitte & Touche LLP or such other independent auditor acceptable to the Initial Noteholder, a copy of which has been provided to the Initial Noteholder.
Seller acknowledges that the provisions of this Section 3.4 shall equally apply to the sale of any non-cash pay notes of Oldco or other mezzanine securities which are required to be and are issued at Closing pursuant to the Commitment Letters.
At all times throughout the Relevant Period, the Lender shall have the right to require any Group Member to claw back any bonuses or other compensation, including golden parachutes, paid to any Senior Employees by any Group Member or GM Oldco Party in violation of any of the foregoing or of any of Section 5.16 of the DIP Credit Agreement.