Examples of GGP Group in a sentence
Other than the GGP Group and the Spinco Group, no past, present or future director, officer, employee, incorporator, member, partner, stockholder, Affiliate, agent, attorney or representative of either GGP or Spinco or their Subsidiaries shall have any liability for any obligations or liabilities of GGP or Spinco, respectively, under this Agreement or for any claims based on, in respect of, or by reason of, the transactions contemplated by this Agreement.
GGP shall prepare and file all Tax Returns of the GGP Group (including Consolidated Returns of the GGP Group) relating to any taxable period and shall pay all Taxes shown to be due and payable on such Tax Returns.
The parties recognize that legal and other professional services will be provided following the Effective Time, which services will be rendered solely for the benefit of the GGP Group or the Spinco Group, as the case may be.
GGP shall act as an independent contractor and not as the agent of Spinco in performing such Services, maintaining control over GGP Employees, GGP’s subcontractors and their employees and complying with all withholding of income and other requirements of Law, whether federal, state, local or foreign and no member of the GGP Group shall have any authority to bind any member of the Spinco Group by contract or otherwise.
The outstanding principal was $1.55 billion as of the Petition Date, with interest payable semi- annually in arrears.20Under an indenture dated February 24, 1995, TRCLP issued five series of public bonds (collectively, the “1995 Rouse Bonds”), which were unsecured obligations of TRCLP, not guaranteed by any other entity in the GGP Group.
For example, in July 2008, the GGP Group received a loan from several lenders led by Eurohypo AG, New York Branch, as administrative agent, the outstanding principal of which totaled $1.51 billion as of the Petition Date (the “2008 Facility”).
GGP LP, GGPLP, L.L.C. and TRCLP are each Debtors, while GGMI is a non-Debtor affiliate that provides management services to the GGP Group, the joint ventures and other unrelated third parties.
Capital Structure As of December 31, 2008, the GGP Group reported $29.6 billion in assets and $27.3 billion in liabilities.12 At that time, approximately $24.85 billion of its liabilities accounted for the aggregate consolidated outstanding indebtedness of the GGP Group.
In addition to secured debt, members of the GGP Group were obligated on approximately $6.58 billion of unsecured debt as of the Petition Date.
The notes are senior, unsecured obligations of GGP LP and are not guaranteed by any entity within the GGP Group.