Examples of LINN Debtors in a sentence
For the avoidance of doubt, the LINN Debtors shall not be responsible for payment of any legal, professional, or other fees and expenses incurred by the Berry Debtors in connection with the Chapter 11 Cases and after the Effective Date, and the Berry Debtors shall not be responsible for payment of any legal, professional, or other fees and expenses incurred by the LINN Debtors in connection with the Chapter 11 Cases and after the Effective Date.
For the avoidance of doubt, the Berry LINN Intercompany Settlement releases any Claims of the LINN Debtors against the Berry Debtors and pursuant to such settlement, there shall be no Allowed Berry Intercompany Claims, except for the true-up of postpetition Intercompany Transactions described in the preceding sentence, and thus there will be no other Allowed Claims in this Class.
Subject to Article III.D of the Plan, to the extent that a Class contains Claims or Interests only with respect to one or more particular LINN Debtors, such Class applies solely to such LINN Debtor.
The LINN Unsecured Notes consist of approximately $3.023 billion outstanding on five series of senior unsecured notes issued under five separate indentures, dated April 6, 2010, September 13, 2010, May 13, 2011, March 2, 2012, and September 9, 2014, among LINN and Linn Energy Finance Corp., as co-issuers; the other LINN Debtors, as guarantors; and the LINN Unsecured Notes Trustee.
For the avoidance of doubt, on the Effective Date, all rights and obligations of the LINN Debtors with respect to the LINN Backstop Agreement shall vest in the applicable Reorganized LINN Debtors, and the Reorganized LINN Debtors will be deemed to assume all such obligations.
The LINN Debtors acquired their indirect interest in Berry in December 2013 via a stock-for-stock transaction (the “Berry Acquisition”).
The Berry Debtors’ funded debt obligations are independent of the LINN Debtors.
Berry is a wholly owned subsidiary of Linn Acquisition Company, LLC (“LAC”), which, in turn, is a wholly owned subsidiary of Linn Energy, LLC (“LINN,” and together with its Debtor Affiliates other than the Berry Debtors, the “LINN Debtors”) (collectively, the LINN Debtors and the Berry Debtors shall hereafter be referred to as the “Debtors”).
The LINN Second Lien Indenture obligated the LINN Debtors to convey and make arrangements for recordation of second-lien mortgages on certain oil and natural gas assets within 90 days of the closing of the exchange.
LAC and Berry have engaged Munger, Tolles & Olson LLP, as legal counsel, and Huron Consulting Services LLC, as financial advisor, to independently advise LAC and Berry with respect to any alleged conflict matters between Berry and the LINN Debtors.