Examples of New Parkway in a sentence
Xxxxxxx Fax No.: (000) 000-0000 E-mail: xxxxxxxxx@xxxx.xxx xxxxxxxxx@xxxx.xxx If to New Parkway, Parkway LP, Parkway GP, Legacy Parkway or Legacy Parkway LP, to: Parkway, Inc.
Following the effective time of the Merger, but prior to the Distribution, the New Parkway Term Loan will be funded.
The remaining $150 million of proceeds from the New Parkway Term Loan will be retained by New Parkway LP under the New Parkway Credit Facilities following consummation of the Distribution.
The proceeds of the New Parkway Term Loan will be used to fund a $200 million distribution to the partners of New Parkway LP, who will in turn cause such funds to be contributed to Cousins LP, which will use the funds to repay a portion of approximately $550 million outstanding under Parkway’s existing credit facilities.
Per the terms of the commitment letter, the New Parkway Credit Facilities are assumed to have a term of three years.
To the extent permitted by applicable Law, copies of all personnel records and files relating to a Transferring Employee that were created prior to the Distribution Effective Time and that are held by the Cousins Group as of the Distribution Date (the “Transferring Employee Personnel Records”) shall be provided to the New Parkway Group as of the Distribution Date.
Cousins shall (and shall cause the members of the Cousins Group to) execute and deliver to New Parkway (or such member of the New Parkway Group as New Parkway shall designate) any power of attorney or other document requested by New Parkway (or such designee) in connection with any Tax Proceeding described in the second sentence of Section 8.02(a).
The LTC Policy shall be treated as a New Parkway Benefit Plan for purposes of this Agreement effective as of the Benefit Commencement Date, and New Parkway shall reimburse the Cousins Group for all costs it incurs in connection with assigning the LTC Policy.
Nothing contained in this Agreement shall be construed as an amendment to any Cousins Benefit Plan, Legacy Parkway Benefit Plan, New Parkway Benefit Plan or other compensation or benefit plan or arrangement for any purpose.
If properly and timely assigned and assumed in accordance with this Section 6.01(a), the New Parkway 401(k) Plan shall be treated as a New Parkway Plan for purposes of this Agreement effective as of the Distribution Effective Time.