Parallel Entities definition
Examples of Parallel Entities in a sentence
If a Partner or its Affiliate exercises a Liquidity Event with respect to any Parallel Entity, such Partner or its Affiliate shall be obligated to consummate the corollary Liquidity Event in all Parallel Entities.
Given the Debtors’ bankruptcy filing and the Canadian Parallel Entities’ insolvency proceeding under the Companies’ Creditors Arrangement Act, these transfers have ceased and will no longer occur because the funds generated by the operations of the U.S. Parallel Entities will not flow up to Canada.
As of the date hereof, the Canadian Parallel Entities owe approximately $11,500 to their Canadian supplier.
The Bank Lenders are the only secured creditors of the Canadian Parallel Entities.
Of Parallel’s 51 employees, 6 employees (2 officers and 4 other employees) are employed by the Canadian Parallel Entities and work out of the Calgary Head Office.
There are no outstanding contractual or other obligations of 51st Parallel Entities or any subsidiary to repurchase, redeem or otherwise acquire any of its securities or with respect to the voting or disposition of any outstanding securities of any of its subsidiaries.