VPP Transaction definition
VPP Transaction means any volumetric production payment transaction or similar transaction, including any transaction structured as a sale of property interests (including mineral reserves) in exchange for long-term periodic payments made by a Credit Party or a Subsidiary.
Examples of VPP Transaction in a sentence
Except in connection with the Genesis VPP Transaction, and to the extent approved in writing by Administrative Agent and Existing Banks pursuant to the terms of the Genesis Letter Agreement, Parent and Borrower will not, nor will Parent and/or Borrower permit any other Credit Party to, incur any liability, Debt or obligation to any Unrestricted Subsidiary of any nature, or have any liability (whether by operation of law or otherwise) for any liability, Debt or obligation of any Unrestricted Subsidiary.
No Credit Party shall, or shall permit any Subsidiary to, enter into or agree to enter into any VPP Transaction other than a Permitted VPP Transaction.