VRCT definition
Examples of VRCT in a sentence
Similarly, VRCT’s obligations under this Agreement shall apply only with respect to those Seconded Employees for which VRCT is the Employing Operator.
Nothing in this Agreement is intended, nor shall it operate or be construed, to render VSI and VRCT jointly or jointly and severally liable or to otherwise render VSI liable for any acts, omissions or breaches hereof by VRCT, or vice versa.
Upon the expiration of the Option Period, any Option Units not purchased by the Underwriters pursuant to the Underwriting Agreement shall be issued to each of VTDC, Premcor Pipeline, Premcor Refining and VRCT in accordance with their respective Deferred Issuance Percentages.
VRCT hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers 100% of the outstanding membership interests in Memphis LLC to the Partnership in exchange for 1,015,474 Common Units, 2,533,407 Subordinated Units and the right to receive 6.23% of the Deferred Issuance (the “VRCT Deferred Issuance Percentage”), and the Partnership accepts such contribution as a capital contribution from VRCT.
The sale and issuance of (i) the Subordinated Units to Premcor Pipeline, Premcor Refining, VRCT and VTDC and (ii) the General Partner Units and the IDRs to the General Partner are each exempt from the registration requirements of the Securities Act and the rules and regulations and the securities laws of any state having jurisdiction with respect thereto and none of the Valero Entities has taken or will take any action that would cause the loss of such exemption.
On the Closing Date and pursuant to the Contribution Agreement, VRCT contributed to the Partnership, as a Capital Contribution, 100% of the outstanding membership interests in Memphis LLC in exchange for (i) 1,015,474 Common Units, (ii) 2,533,407 Subordinated Units and (iii) the right to receive its respective Deferred Issuance Percentage upon the earlier to occur of (A) the expiration of the Underwriters’ Option and (B) the exercise in full of the Underwriters’ Option.
VRCT hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers 100% of the outstanding membership interests in Memphis LLC to the Partnership in exchange for [●] Common Units, [●] Subordinated Units and the right to receive [●]% of the Deferred Issuance (the “VRCT Deferred Issuance Percentage”), and the Partnership accepts such contribution as a capital contribution from VRCT.
Nothing in this Agreement is intended, nor shall it operate or be construed, to render VSI, VRCT and/or VRT jointly or jointly and severally liable or to otherwise render any Employing Operator liable for any acts, omissions or breaches hereof by any other Employing Operator.
VSI’s obligations under this Agreement shall apply only with respect to those Seconded Employees for which VSI is the Employing Operator, VRCT’s obligations under this Agreement shall apply only with respect to those Seconded Employees for which VRCT is the Employing Operator, and VRT’s obligations under this Agreement shall apply only with respect to those Seconded Employees for which VRT is the Employing Operator.
Nothing in this Agreement is intended, 12 nor shall it operate or be construed, to render VSI and VRCT jointly or jointly and severally liable or to otherwise render VSI liable for any acts, omissions or breaches hereof by VRCT, or vice versa.