Examples of Louisiana Assets in a sentence
On February 2, 2016, the Bankruptcy Court entered an order approving the sale of the Louisiana Assets, and the sale is anticipated to close closed on or before March 15, 2016.
On January 11, 2016, the Debtors filed a motion seeking approval of a sale of 75% of the Debtors' interests in certain oil and gas properties located in central Louisiana (the "Louisiana Assets") between Swift, GASRS LLC and SWENCO-Western, LLC, as sellers, and Texegy LLC, as buyer, for $48.75 million.
Pursuant to the sale, the Debtors retained a 25% non-operating working interest in the Louisiana Assets.
Upon the closing of the sale of the Louisiana Assets, the Debtors have agreed to distribute approximately 73% of the proceeds to the RBL Agent, on behalf of the RBL Lenders, and the remaining proceeds will remain with the Debtors' estates, subject to the provisions of the Final DIP Order.
If Sellers cure any Payment Default with respect to any Designated Property, then, the Parties shall amend Schedule 2.1(b)(i) to delete therefrom only those Designated Properties with respect to which a Payment Default has not been cured and to include such Illinois Assets and Louisiana Assets as are designated in the Removal Notice to replace such Designated Properties on Schedule 2.1(b)(i).
Each Seller shall execute and deliver such further ----------------- instruments of conveyance and transfer and take such additional action as the Purchasers may reasonably request to effect, consummate, confirm or evidence the transfer to the Purchasers of the Acquired Stock, the Acquired Louisiana Assets of BESI, the Acquired Other Assets of BESI and any other transactions contemplated hereby.
For convenience and brevity all references in this Agreement to the Transfer of the Assets to the Trust shall be deemed to refer in the case of the Louisiana Assets to the Transfer of such Assets to the LLC and the issuance of the LLC Interest to the Trust.
Promptly following the execution hereof, COMPANY will convey the Louisiana Assets to CONTRACTOR.
The aggregate purchase price (as ------------------------- adjusted, the "Purchase Price") to be paid to the Sellers for the Acquired -------------- Louisiana Assets of BESI, the Acquired Other Assets of BESI and the Acquired Stock is $143,000,000 (subject to any adjustment made pursuant to Section 2.2 ----------- and Article IX) which shall be paid as provided below.
As of the Effective Date, the Depositor is causing the Assets to be Transferred to the Trust (or in the case of the Oklahoma Assets, to the Managing Trustee for the benefit of the Holders, and in the case of the Louisiana Assets, to the LLC), by causing the Depositor's directly wholly-owned subsidiaries, Mid-South and Midcon, to make such Transfers pursuant to the Assignments (such subsidiaries being the present holders of record and beneficial title to the Assets).