New Propco definition

New Propco means Station Casinos LLC, a Nevada limited liability company.

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New Propco. A new entity formed by the Mortgage Lenders for the purpose of acquiring the assets of Propco and certain of the assets of the Opco Debtors and certain other Opco subsidiaries as part of the Restructuring, together with its subsidiaries, all in accordance with the terms and conditions summarized herein (“New Propco”).

New Propco means, in relation to a New Property, the company holding such New Property.

Examples of New Propco in a sentence

• In addition to the foregoing termination rights, the Management Agreement will terminate (i) as to a particular Property upon the voluntary sale of such Property to a third party or (ii) in full upon a voluntary sale of New Propco, whether by the sale of assets or equity (each, a “Termination Upon Sale”).

• The Land Loan Borrower or the assets constituting collateral under the Land Loan will be transferred to New Propco or a subsidiary thereof at the direction of the holders of the Land Loan.

• Additionally, as part of Manager’s services and responsibilities, Manager will recruit, hire and train all Property level and corporate level employees for and on behalf of New Propco, and shall on New Propco’s behalf maintain sufficient Property level and corporate level personnel, and maintain sufficient FG personnel, necessary to conduct operations in accordance with the standards of operation under the Management Agreement.

• The credit documents will include provisions for monthly downloads of such database to a monitoring escrowee who will be obligated to give access to the full customer data base to the Mortgage Lenders upon the occurrence of each event of default under the New Propco credit facility.

• Management: New Propco will enter into a management agreement with FG (“Manager”) pursuant to which Manager will manage and operate (including gaming, hotel and resort operations and centralized services) the four casino/hotel properties and related assets of New Propco (i.e., the Red Rock, Sunset, Boulder and Palace properties, collectively, the “Properties”) on terms agreed by the parties (the “Management Agreement”).

• Manager shall keep New Propco informed of all negotiations with labor unions representing any employees at the Properties, and shall not sign any union contracts covering any employees at the Properties which have not been previously approved in writing by New Propco.

• Such Manager IP shall be FG’s property and not the property of New Propco.

• Except as described on Annex 2, the Land Loan will be non-recourse to New Propco and will otherwise be restructured on the terms contained on Annex 2.

• New Propco shall not be responsible for (i) the salaries, compensation, bonuses or other employment benefits of FG executives and employees or (ii) any corporate overhead of FG.

• The following outlines certain governance provisions with respect to a New Propco structure (for purposes of this Annex 7 and Exhibit A hereto, the term “Propco” shall mean New Propco).

More Definitions of New Propco

New Propco means each Subsidiary of the Issuer, other than a Relevant Group Company, incorporated or acquired for purposes of holding a Property, other than a Replacement Property;

New Propco shall have the meaning set forth in the Recitals, and which will be the owner of the Real Property as of and immediately following the Closing.

New Propco means the Person contemplated by the Propco Term Sheet to acquire, directly or through its Subsidiaries, the Propco Properties and other Assets and Properties of Propco pursuant to the Propco Reorganization.

New Propco has the meaning set forth in the preamble hereto.

New Propco means Station Casinos, LLC, formerly known as NP Propco LLC, a Nevada limited liability company, and its Subsidiaries, owned by Holdco and Voteco, that will acquire or obtain, directly or indirectly through one or more Subsidiaries, all of the New Propco Acquired Assets, the Equity Interests in CV PropCo, LLC and all of the Landco Assets, and all of the New Opco Acquired Assets, in each case under or in connection with the New Propco Implementation Agreements, the New Opco Purchase Agreement, the confirmed SCI Plan, the SCI Confirmation Order and this Joint Plan.

New Propco means NP Propco LLC, a Nevada limited liability company. “Non-Recourse Parties” has the meaning set forth in Section 10.20. “Manager” means GV Ranch Station, Inc., a Nevada corporation. “Management Fee” has the meaning set forth in the Stipulation.