Penn West Trust definition

Penn West Trust means Penn West Energy Trust, which trust was reorganized into Penn West and terminated pursuant to the Corporate Conversion.
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Penn West Trust means Penn West Energy Trust, a trust established under the laws of the Province of Alberta and governed by the Penn West Trust Indenture.
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Examples of Penn West Trust in a sentence

  • Without limiting the generality of the foregoing, from and after the date hereof, the Debentures will be valid and binding obligations of Penn West Trust entitling the holders thereof, as against Penn West Trust, to all rights of Debentureholders under the Indenture.

  • Penn West Trust hereby covenants and agrees to assume and does assume all of the rights, covenants and obligations of Canetic Trust in and to the Indenture and all of the covenants and obligations of Canetic Trust under the Debentures as and from the date hereof.

  • As of the date hereof, the authorized capital of Penn West consists of an unlimited number of Penn West Units and an unlimited number of Special Voting Units (as defined in the Penn West Trust Indenture).

  • Year Ended December 31, 2011 Corporate Conversion The Corporate Conversion was completed on January 1, 2011 and resulted in the reorganization of Penn West Trust (an income trust) into Penn West (a corporation) and the unitholders of Penn West Trust becoming the Shareholders of Penn West.

  • Prior to the Effective Time, Penn West Trust shall not permit AcquisitionCo to: (i) issue any additional securities or enter into any agreements to issue or grant options, warrants or rights to purchase any of its securities; or (ii) carry on any business, enter into any transaction or effect any corporate act whatsoever, other than as contemplated herein or as reasonably necessary to carry out the transactions contemplated by the Arrangement.

  • The fair value of the Units shall be determined as of the close of business on the last Business Day before the day on which the Arrangement is approved by the holders of Units at the Meeting; but in no event shall Penn West Trust or New Penn West be required to recognize such Dissenting Unitholder as a securityholder of Penn West Trust or New Penn West after the time specified herein and the name of such holder shall be removed from the register of Unitholders as at the time specified herein.

  • A Dissenting Unitholder who is entitled to be paid the fair value of the holder’s Units shall be deemed to have transferred the holder’s Units to Penn West Trust for cancellation at the time specified herein, notwithstanding the provisions of Section 191 of the ABCA.

  • Procedure for the Arrangement Becoming Effective The Arrangement is proposed to be carried out pursuant to the Penn West Trust Indenture and Section 193 of the ABCA.

  • Penn West Trust hereby covenants and agrees to assume and does assume all of the rights, covenants and obligations of Vault Trust in and to the Indenture and all of the covenants and obligations of Vault Trust under the 7.20% Debentures as and from the date hereof.

  • As of and from the date and time hereof, the Indenture is amended by substituting the Corporation as a party to the Indenture and replacing Penn West Trust with its Successor, the Corporation.

Related to Penn West Trust

  • First trust means a trust over which an authorized fiduciary may exercise the decanting power.

  • unit trust means any trust established for the purpose, or having the effect, of providing facilities for the participation by persons as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of securities or any other property.

  • Supplemental Interest Trust Trustee Xxxxx Fargo Bank, N.A., a national banking association, not in its individual capacity but solely in its capacity as supplemental interest trust trustee, and any successor thereto.

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.

  • Supplemental Interest Trust The corpus of a trust created pursuant to Section 5.07 of this Agreement and designated as the “Supplemental Interest Trust,” consisting of the Swap Agreement, the Swap Account, the Interest Rate Cap Agreement, the Interest Rate Cap Account, the right to receive the Class X Distributable Amount as provided in Section 5.02(f)(vi), the Class LT4-I interest in REMIC 4 and the right to receive Class I Shortfalls.

  • Owner Trust means the trust created by this Agreement.

  • Lead Securitization Trust means the Securitization Trust created in connection with the Lead Securitization.

  • PFPC Trust means PFPC Trust Company or a subsidiary or affiliate of PFPC Trust Company.

  • Distribution Company means a distribution company as defined in Section 1 of Chapter 164 of the Massachusetts General Laws.3

  • Real Estate Investment Trust means any Person that qualifies as a real estate investment trust under Sections 856 through 860 of the Code.

  • Securitization Trust means a trust formed pursuant to a Securitization.

  • Blind Trust means an independently managed trust in which the employee-beneficiary has no management rights and in which the employee-beneficiary is not given notice of alterations in or other dispositions of the property subject to the trust.

  • Escrow Trustee means the bank or trust company designated by the Fiscal Officer in the Certificate of Award as the initial escrow agent with respect to the Refunded Bonds under the Escrow Agreement and until a successor Escrow Trustee shall have become such pursuant to the provisions of the Escrow Agreement and, thereafter, "Escrow Trustee" shall mean the successor Escrow Trustee.

  • Plan Trust means the trust governed by the Plan.

  • Asset management means a systematic process of operating and maintaining the state system of

  • Asset Management Company means an asset Management Company as defined in the Rules and Regulations.

  • CDO shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender.”

  • unit trust scheme means any arrangements made for the purpose, or having the effect, of providing for persons having funds available for investment, facilities for the participation by them, as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of any property whatsoever;

  • Master Trust means Citibank Credit Card Master Trust I.

  • Asset Manager means the manager of each of the Series Assets as specified in each Series Designation or, its permitted successors or assigns, appointed in accordance with Section 5.10.