Petro Operating definition

Petro Operating means Petro Stopping Centers, L.P., a Delaware limited partnership owned by the Partnership.
Sample 1

Examples of Petro Operating in a sentence

  • Any payment by Petro Operating with respect to the debt shall not reduce Petro Operating’s maximum obligation.

  • Because the Existing Holding Partnership Discount Notes are obligations of Petro Holdings, they are effectively subordinated to all obligations of Petro Operating.

  • As a result of the Refinancing Transactions, Petro Holdings, Petro Operating, Xxxxx, Xxxxx Holdings Financial, Petro Distributing, and/or Petro Financial will be liable on various debt obligations that are described on the attached Exhibit ”A” (defined collectively as the “Debt Obligations”).

  • Petro Operating guaranteed a portion of the debt by Petro Operating’s joint venture, Petro Travel Plaza LLC, under a Repayment Guaranty dated as of June 4, 1999 and last modified on November 25, 2002.

  • In connection with the Refinancing Transactions, Petro Operating will replace its existing Senior Secured Credit Facilities arranged by Banc of America Securities LLC with Bank of America, N.A. as syndication agent and Xxxxx Fargo, N.A. as administrative agent in an aggregate principal amount of $50 million, consisting of a three year revolving credit facility of $25 million and a four year term loan facility of $25 million.

  • The Senior Secured Notes will be secured by a second priority lien on substantially all of Petro Operating’s and its restricted subsidiaries’ property and assets, subject to certain exceptions, and all of the Petro Holding’s limited partnership interests in Petro Operating.

  • Pursuant to the Participation Agreement and the PSCP Partnership Agreement, Indemnitor agreed to contribute and convey to Petro Operating all of those rights and assets more specifically described in exhibits to the Participation Agreement, subject to such obligations and indebtedness as the parties to the PSCP Partnership Agreement expressly agreed that Petro Operating would assume as set forth in exhibits to the Participation Agreement and the PSCP Partnership Agreement.

  • Petro Operating guaranteed a portion of the debt of Petro Operating’s joint venture, Petro Travel Plaza LLC, under a Continuing Guaranty dated as of May 12, 2003.

  • The collateral for the New Holding Partnership Discount Notes will consist solely of Petro Holding’s limited partnership interests in Petro Operating.

  • In addition to the aforementioned types of indebtedness, the Debt Obligations include all other remaining debts, liabilities, and payables arising from time to time owing by either Petro Holdings or Petro Operating.

Related to Petro Operating

  • Operating or "Operation" means to provide (or the provision of) all the operation, engineering, purchasing, repair, supervision, training, inspection, testing, protection, use, management, improvement, replacement, refurbishment, retirement, and maintenance activities associated with operating the Generating Facility in accordance with Prudent Electrical Practices.

  • Operating Company means an “operating company” within the meaning of 29 C.F.R. §2510.3-101(c) of the Plan Asset Regulations.

  • Petroleum Operations means, as the context may require, Exploration Operations, Development Operations or Production Operations or any combination of two or more of such operations, including construction, operation and maintenance of all necessary facilities, plugging and abandonment of Xxxxx, safety, environmental protection, transportation, storage, sale or disposition of Petroleum to the Delivery Point, Site Restoration and any or all other incidental operations or activities as may be necessary.

  • Operating Subsidiaries means, collectively, the Corporation and HST, each a wholly-owned subsidiary of the Trust, and "Operating Subsidiary" means either of the Corporation or HST, as applicable.

  • Business operations means engaging in commerce in any form, including by acquiring, developing, maintaining, owning, selling, possessing, leasing, or operating equipment, facilities, personnel, products, services, personal property, real property, or any other apparatus of business or commerce.

  • Operating Companies shall have the meaning specified in the recitals to this Agreement.

  • Consolidated Entities means any Person (other than an Investment Entity) in which the Borrower owns any Capital Stock, the accounts of which Person are consolidated with those of the Borrower in accordance with GAAP.

  • Operating Entities means, from time to time, the Persons in which the Holding Entities, directly or indirectly, hold interests and that (i) directly hold real estate assets, or (ii) indirectly hold real estate assets but all of the interests of which are not held, directly or indirectly, by the Holding Entities, other than, in the case of each of (i) and (ii), any Person in which the Holding Entities, directly or indirectly, hold interests for investment purposes only of less than 5% of the outstanding equity securities of that Person;

  • Restricted business operations means business operations in Sudan that include power production activities, mineral extraction activities, oil-related activities, or the production of military equipment, as those terms are defined in the Sudan Accountability and Divestment Act of 2007 (Pub. L. 110-174). Restricted business operations do not include business operations that the person (as that term is defined in Section 2 of the Sudan Accountability and Divestment Act of 2007) conducting the business can demonstrate—

  • Net Operating Income With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.

  • Operating Area means those areas on-shore in India in which company or its affiliated company may from time to time be entitled to execute such services/operations.

  • Partnership Group Member means any member of the Partnership Group.

  • Partnership Group means the Partnership and its Subsidiaries treated as a single consolidated entity.

  • Branch operations means any business operations of a branch captive insurance company in this State.

  • Net Operating Cash Flow means the net cash flow to the Partnership resulting from ownership and operation of the Partnership Property, plus any other items of income received in cash by the Partnership less (i) all debts and expenses paid in the operation of the Partnership, (ii) any reserves which the General Partners deem reasonably necessary for the operation of the Partnership or for the satisfaction of obligations of the Partnership pursuant to Section 8.6, and (iii) all proceeds which are (A) received by the Partnership from the Transfer of Partnership Property, and (B) used to purchase or reserved, as determined by the General Partners in furtherance of their fiduciary duties hereunder and under the Act, for the purchase of other Partnership Property.

  • Health Care Operations shall have the meaning given to such term under the HIPAA 2 Privacy Rule in 45 CFR § 164.501.

  • Project Company means Company incorporated by the bidder as per Indian Laws in accordance with Clause no 3.5.