Holdings Interest definition
Examples of Holdings Interest in a sentence
Permit the US Holdings Interest Coverage Ratio for the most recently completed Measurement Period to be less than 1.75 to 1.0.
Immediately following such contribution of the Holdings Interest, ▇▇▇▇▇▇▇▇ 66 Company shall and does hereby continue as a member of Holdings, and the General Partner shall and does hereby cease to be a member of Holdings and shall thereupon cease to have or exercise any right or power as a member of Holdings, and Holdings is hereby continued without dissolution.
Notwithstanding any provision of the limited liability company agreement of Holdings (the “Holdings LLC Agreement”) to the contrary, the General Partner is hereby admitted to Holdings as a member of Holdings holding the Holdings Interest and hereby agrees that it is bound by the Holdings LLC Agreement.
W▇▇▇▇▇▇▇ Gas Pipeline hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers the WPP Holdings Interest, as a contribution of capital to Pipeline GP, and Pipeline GP hereby accepts the WPP Holdings Interest as a contribution to the capital of Pipeline GP.
Development Holdco owns, beneficially and of record, a 100% limited liability company interest (the “▇▇▇ Holdings Interest”) in Rockies Express Holdings, LLC, a Delaware limited liability company (“▇▇▇ Holdings”), and holds good title, free and clear of Liens, to the ▇▇▇ Holdings Interest (except as set forth in the ▇▇▇ Holdings LLC Agreement and restrictions under applicable federal and state securities Laws).
MLP hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to WP Operating 100% of its membership interests in WPP Holdings, after giving effect to the Merger (the “Merged WPP Holdings Interest”), as a contribution of capital to WP Operating, and WP Operating hereby accepts the Merged WPP Holdings Interest as a contribution to the capital of WP Operating.
Pipeline GP hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers the WPP Holdings Interest to MLP, as a contribution of capital to MLP in exchange for a continuation of the 2% GP Interest, the IDRs, and the 50.5% Limited Partner Interest, and MLP hereby accepts the WPP Holdings Interest as a contribution to the capital of MLP.
The NLA Holdings Interest has been duly authorized and validly issued in accordance with the Organizational Documents of NLA Holdings, is fully paid and nonassessable (except as such nonassessability may be affected by matters described in Sections 18-303, 18-607 and 18-804 of the Delaware LLC Act) and has not been issued in violation of any preemptive rights, rights of first refusal or other similar rights of any Person.
SSH hereby sells, grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to ▇▇▇▇▇▇▇ all right, title and interest in and to twenty percent (20%) of the Holdings Interest in return for $200.
Except for the ManagementCo Interest, the NLA Holdings Interest and the Holdco Ownership Interests, PennTex does not own, directly or indirectly, any stock or equity ownership (whether controlling or not) in any corporation, association, partnership, limited liability company, joint venture or other Person.