Examples of Plan of Division in a sentence
This agreement, among other things, confirmed the Plan of Division approved by the Company’s board of managers on November 23, 2020, whereby Banner Holdings was formed becoming Banner’s parent company.
Neither Borrower, Guarantor nor any Person (a) obligated to pay all or any part of any sums that are, or may become, due under the Loan Documents, or (b) who is, or may become, obligated to perform any obligations secured by the Security Instrument, in either case, has created or adopted a Plan of Division, or filed a Certificate of Division, or has otherwise effectuated an LLC Division or LP Division of Borrower, Guarantor or such Person.
Following the Plan of Division and the transactions contemplated by the Merger Agreement, and in accordance therewith, MSA Safety Jacksonville Manufacturing, LLC, a newly formed Pennsylvania limited liability company (“MSAJ”) and a Wholly-Owned Subsidiary of MSAW, shall be the ultimate transferee of the operating assets and specified liabilities described as the “MSA SJM Assets” and the “MSA SJM Liabilities” in the Plan of Division (as defined below).
To the extent that any executory contract or unexpired lease set forth on Exhibit 8.1 to the Plan is to be assigned and/or allocated to one of the AWI Progeny pursuant to the Plan of Division, any such assignment and/or allocation will be set forth in the Plan of Division.
The Trust may also participate in a division of the Trust, similar to a division of a Pennsylvania business corporation, pursuant to a Plan of Division under 15 Pa.C.S. Subchapter 19D (relating to division of corporation).