Old Holdcos definition
Examples of Old Holdcos in a sentence
As of the Closing Date, the Old Holdcos shall have ----------- repaid in full all Indebtedness incurred by the Old Holdcos prior to September 24, 1999 and Intermediate Holdings shall have repaid in full the $7,000,000 of its 14% Senior Discount Notes due 2006.
No petition shall have been filed by or proceeding commenced against any of the Old Holdcos or Borrower under the Bankruptcy Code.
The Old Holdcos will not own any assets, except that Ultimate Holdings may own all of the Stock of Intermediate Holdings; Intermediate Holdings may own all of the Stock of Holdings and Holdings may own .01% of the Stock of New Holdings.
The Old Holdcos shall not engage in any trade or business or incur any Indebtedness or Guaranteed Indebtedness, except that Intermediate Holdings may remain obligated for up to $7,000,000 of its 14% Senior Discount Notes due 2006.