Examples of Desert Newco in a sentence
As sole managing member, we have all voting power in, and control the management of, Desert Newco.
As a result, we consolidate Desert Newco’s financial results and report a non-controlling interest representing the economic interest held by the other members of Desert Newco.
We were incorporated on May 28, 2014 for the purpose of facilitating an IPO and other related organizational transactions, completed on April 7, 2015 , in order to operate and control all of the business and affairs of Desert Newco.
If, however, we decide to pay a dividend in the future, we would need to cause Desert Newco to make distributions to us in an amount sufficient to cover such dividend.
The shares reserved for issuance under the 2015 Plan also included up to 28,133 shares rolled over from the Desert Newco, LLC 2011 Unit Incentive Plan (the 2011 Unit Incentive Plan) and from certain other option plans assumed in connection with acquisitions.
If Desert Newco makes such distributions to us, the other holders of LLC Units will be entitled to receive pro rata distributions.
Although we have a minority economic interest, we have sole voting power in, and control the management of, Desert Newco.
We refer to this transaction as the "Merger." Desert Newco was formed in contemplation of and survived the Merger, and as a result of the Merger, applied purchase accounting and a new basis of accounting beginning on the date of the Merger.
As the sole managing member of Desert Newco, we operate and control the business and affairs of Desert Newco and its subsidiaries.
Accordingly, we consolidate Desert Newco in our consolidated financial statements and report a non- controlling interest related to the portion of Desert Newco not owned by us.