Examples of Operating Debtors in a sentence
Debtors had three operating entities, including Brandco and two Operating Debtors, each of which was operating at reduced capacity due to Covid.
The plan extinguished the mezzanine loan’s collateral (the Mezzanine Debtors’ equity interest in the Operating Debtors).
The plan proposed to cancel the Mezzanine Debtors’ equity interest in the Operating Debtors and to dissolve the Mezzanine Debtors.
The 2007 acquisition of the hotels was financed by two loans: first, a $209 million loan to the Operating Debtors secured by liens on the two hotels (the “mortgage loan”); and, second, a $21.5 million loan to the Mezzanine Debtors secured by liens on the ownership interests in the Operating Debtors (the “mezzanine loan”).
The Mezzanine Debtors, in turn, were each the sole owners of the Operating Debtors, which owned and operated the respective hotels.