OpCo Entities definition

OpCo Entities means collectively OpCo and each of its Subsidiaries and “OpCo Entity” means individually any of the foregoing Persons.

OpCo Entities means each of OpCo and its Subsidiaries assuming the consummation of the transactions contemplated by the Reorganization Agreement and this Agreement have been so consummated, with OpCo and each such Subsidiary holding such assets and having such liabilities as contemplated by the Reorganization Agreement. 76

OpCo Entities has the meaning set forth in Section 4.2.

Examples of OpCo Entities in a sentence

• But PNC knew at the time that the OpCo Entities had no unencumbered assets, were running out of liquidity, losing money, and had laid off hundreds of employees.

• As intended, the proceeds were used to pay Albertson’s (which included payment for all of the fee owned properties subject to the SLB Transactions as well as the twenty-eight remaining fee owned properties that were transferred free and clear to the PropCo Entities), with the residual proceeds of $50 million going to the OpCo Entities.

• The Committee told the Court that Holdings’ Managers owed the Debtors fiduciary obligations, implying that they owed duties to Holdings’ subsidiaries such as the OpCo Entities.

• See Moses, 2014 WL 12577167, at *10.Second, the decision to use a PropCo/OpCo corporate structure is a common business practice, and therefore it is not unjust or unfair to the OpCo Entities.

• At best, the Committee’s legal theory is that the OpCo Entities may have provided some benefit to GIG and Spirit.

• Caple recalled that “a number” of IC members specifically told him that “they were under the impression that Comvest could still get its money back in Haggen through the real estate, even in a disaster scenario” with the OpCo Entities.

• At the time it obtained the initial $7.5 million advance on August 12, 2015, Comvest knew that the OpCo Entities did not have PNC’s consent to grant a second lien on the OpCo Entities’ assets, but the IC nevertheless approved of the request for an initial advance of $7.5 million because the situation was desperate and Comvest needed to “ensure OpCo ha[d] the liquidity to meet its obligations [the following day] and cover payroll later” in the week.

• On August 7, 2015, the PropCo Entities, as lenders, and the OpCo Entities, as borrowers, entered into the PropCo Agreement pursuant to which the PropCo Entities agreed to advance up to $25 million to the OpCo Entities.

• The evidence establishes that Comvest created this structure with the intent of keeping the assets and liabilities of the PropCo Entities separate from the assets and liabilities of the OpCo Entities.

• Moreover, the OpCo Entities would have access to a $50 million equity infusion from Comvest.

More Definitions of OpCo Entities

OpCo Entities means, certain of the Debtors’ former operating subsidiaries to include Trico Supply AS, Trico Shipping AS, DeepOcean AS, DeepOcean Subsea Services, Hong Kong, Ltd., Trico Supply (UK) Limited, Albyn Marine Limited, Trico Subsea Cayman, Ltd., Trico Subsea Holding AS, Trico Subsea AS, DeepOcean Shipping AS, DeepOcean Shipping II AS, DeepOcean Shipping III AS, DeepOcean Brasil Servicos Ltda., DeepOcean Maritime AS, DeepOcean Subsea Services Limited (UK), DeepOcean B.V., DeepOcean UK Ltd., Deep Ocean Management AS, DeepOcean de Mexico, S. de R.L. de C.V., Servicios Profesionales de Apoyo Especializado, S. de R.L. de C.V., Servicios de Soporte Profesional Administrativo, S. de R.L. de C.V., Subseasantenet Haugesund AS, CTC Marine Projects Limited (UK), CTC Marine Norway AS, CTC Marine SBN BHD, and CTC Marine Projects (Guernsey) Limited.

OpCo Entities has the meaning set forth in the Reorganization Agreement.