Pentex definition
Examples of Pentex in a sentence
Pentex has not issued any certificates to evidence the LLC Membership Interests, and no lost or destroyed certificates for the LLC Membership Interests exist or have ever existed.
Pentex has no record or information that any of the LLC Membership Interests is subject to any Encumbrance.
AIDEA and IGU entered into a non-binding Utility Integration Memorandum of Understanding, dated January 25, 2017 (the “MOU”), wherein among other things the Parties set forth their mutual understandings with respect to AIDEA’s proposed sale of Pentex to IGU, the transfer of the North Slope Pad from AIDEA to IGU, the AIDEA financing of IGU, and the establishment of the process and timelines to accomplish the foregoing.
The Bonds and the Loan will be secured by all of IGU’s revenues and assets, including all bank and investment accounts, the LLC membership interests in Pentex, the assets of Pentex and the Subsidiaries, and the North Slope Pad; excluding, however, any CPCN which cannot be assigned to the Authority.
IGU shall cause Pentex and the Subsidiaries to execute and deliver all agreements, documents, and instruments necessary to create and perfect a security interest and lien against their respective assets in favor of the Authority.
In case of the Seller Pentex Alaska Natural Gas Co. resolutions of both the board of directors and the shareholders shall be provided and the resolutions shall be accompanied by a certificate of the secretary of the corporation verifying the authenticity of the resolutions and confirming that the resolutions remain in full force and effect.
Each of the Acquired Companies is a member-managed limited liability company and has never been a manager-managed limited liability company; and ▇▇▇▇▇▇▇▇▇▇ Partners, L.P. is the managing-member of Pentex.
Other than this Agreement, no contract exists relating to transferring or issuing any additional membership interests in Pentex.
The percentage of the LLC Membership Interests that each of the Sellers is to separately convey to AIDEA at the Closing is as follows: ▇▇▇▇▇▇▇▇▇▇ Partners, L.P. -- 85% Pentex Alaska Natural Gas Company -- 10% ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ -- 5%.
The Authority will advance funds necessary to pay the purchase price due from IGU to the Authority for Pentex, in accordance with the Purchase Agreement.