Common use of Payment of Intercompany Obligations Clause in Contracts

Payment of Intercompany Obligations. As of the Second Effective Time, Höegh LNG Ltd. hereby sells, assigns and transfers to Höegh LNG (without recourse or warranty other than as set forth in Article VI) (a) the SRV Promissory Note and (b) the Höegh Lampung Promissory Note, in exchange for the reduction of $[ ] of Höegh LNG Ltd.’s outstanding debt pursuant to the Höegh LNG Intercompany Loan.

Appears in 2 contracts

Samples: Contribution, Purchase and Sale Agreement, Contribution, Purchase and Sale Agreement (Hoegh LNG Partners LP)

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Payment of Intercompany Obligations. As of the Second Effective Time, Höegh LNG Ltd. hereby sells, assigns and transfers to Höegh LNG (without recourse or warranty other than as set forth in Article VI) (a) the SRV Promissory Note and (b) the Höegh Lampung Promissory Note, in exchange for the reduction of $[ ] 123,248,000 of Höegh LNG Ltd.’s outstanding debt pursuant to the Höegh LNG Intercompany Loan.

Appears in 2 contracts

Samples: Contribution, Purchase and Sale Agreement (Hoegh LNG Partners LP), Contribution, Purchase and Sale Agreement

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