Examples of PCTC Vessels in a sentence
After the entry of the Confirmation Order, but prior to the Effective Date, and without any further corporate action or further order of the Bankruptcy Court, the Debtors shall be authorized but not directed to take any and all actions necessary to effect the PCTC Transaction, including the purchase of the leased PCTC Vessels knows as the Green Lake and the Green Cove from their applicable lessors, and the transfer of such vessels with the remaining PCTC Vessels to NYK Group Americas, Inc.
The closing of all transactions contemplated by the PCTC Transaction, including, but not limited to, the transfer of the PCTC Vessels to NYK Group Americas, Inc.
The two page PCTC Notice also provides, in relevant part:The currently proposed transaction provides that on the Effective Date of the Plan, the Debtors will sell up to four of the PCTC Vessels to NYK.
In the event that one or more (but not all) of the Tax Receivable Agreements are terminated as of a given time, then the calculation of payments pursuant to the Tax Receivable Agreements that were not terminated shall be made as if no Tax Receivable Agreements were terminated.
The Debtors are seeking to sell the PCTC Vessels free and clear of all liens, claims and encumbrances.
In Section 7.4(e) of the Solicitation Version of the Disclosure Statement [Doc.537] (the “ Disclosure Statement”), the Debtors disclosed that they were engaged in ongoing negotiations with one of their major customers, Nippon Yusen Kaisha (“NYK”),3 regarding thedisposition of four U.S. flagged PCTC Vessels (commonly known as the “PCTC Transaction”).
They are current on their post-petition obligations with respect to the PCTC Vessels and I am unaware of any liens, claims or encumbrances, other than (a) those of the holders of the Regions Facility Claims and the DVB Facility Claims and (b) maritime liens arising in the ordinary course of business, that will exist as of the Effective Date.