Examples of Vantage Sellers in a sentence
Pursuant to the terms of the Vantage Purchase Agreement, Rice Energy Operating acquired Vantage from the Vantage Sellers for approximately $2.7 billion, which consisted of approximately $1.0 billion in cash, the assumption of net debt of approximately $707.0 million and the issuance of 40.0 million units in Rice Energy Operating that were immediately exchangeable into 40.0 million shares of common stock of the Company, valued at approximately $1.0 billion.
Upon the exercise of the redemption right, the Company may, at its option, effect a direct exchange of the REO Common Units (and the corresponding shares of preferred stock (or fractions thereof) from the redeeming Vantage Seller.As a result, the Company expects that over time it will have an increasing economic interest in Rice Energy Operating as the Vantage Sellers elect to exercise their redemption right.
This last category is, however, in the minority as less than 5% of the British landlords belongs to this group (Scanlon & Whitehead, 2016).
In addition, the Vantage Sellers were issued 1/1,000th of a share of Company preferred stock for each REO common unit they received.
Rice has provided to the Vantage Sellers a true and complete copy of an executed commitment letter, dated as of the date of this Agreement (including all exhibits, schedules, annexes and amendments thereto as of the date of this Agreement, the “Debt Commitment Letter”), from Xxxxx Fargo Securities, LLC and Barclays Bank PLC (collectively, the “Lenders”) providing for the establishment of a reserve-based borrowing facility at Rice Appalachia.
The Vantage Sellers shall prepare or cause to be prepared all income Tax Returns of the Company and its Subsidiaries for any Pre-Closing Period required to be filed after the Closing Date.
Concurrent with the completion of the Vantage Acquisition, the Company extinguished the debt assumed from the Vantage Sellers for $707.0 million in cash, which approximated the fair value of the debt at the time of extinguishment.
No Rice Affiliate shall have any liability or obligation to the Vantage Sellers or the Company of any nature whatsoever in connection with or under this Agreement or the transactions contemplated hereby or thereby, and the Vantage Sellers and the Company hereby waive and release all claims of any such liability and obligation.
I was therefore unable to verify the validity and correctness of the figure disclosed as ZIMRA set-offs.
The Rice Common Stock to be issued to the Vantage Sellers pursuant to the LLC Agreement shall have been approved for listing on NYSE, subject only to official notice of issuance thereof.