Petro Holdings definition
Examples of Petro Holdings in a sentence
Star Gas Partners, L.P. Note Purchase Agreement Petro Holdings, Inc.
The Borrower, Holdings, Petro Holdings, Petro Distributing, Petro Financial, the Lenders party thereto and the Administrative Agent have entered into that certain Credit Agreement dated as of February 9, 2004 (as amended, modified, supplemented and extended from time to time, including, without limitation, as amended by this Amendment, the “Credit Agreement”).
Petro Holdings has made a tender offer and exchange offer for the Existing Holding Partnership Discount Notes.
To that end, this Agreement shall be interpreted, construed and enforced to subject Indemnitor to a bonafide liability on the Debt Obligations in the smallest possible amount so that both of the following are true: (i) Indemnitor’s adjusted tax basis in his interest in Petro Holdings is never less than One Dollar ($1.00); and (ii) Indemnitor’s amount At Risk in Petro Holdings is never less than One Dollar ($1.00).
This Agreement is being entered into in connection with the closing of a series of transactions (the “Refinancing Transactions”) pursuant to which the Petro Holdings and Petro Operating will refinance substantially all of their indebtedness.
In connection with the Refinancing Transactions, Petro Holdings will issue new senior third secured discount notes (“New Holding Partnership Discount Notes”).
As a result of the Refinancing Transactions, Petro Holdings, Petro Operating, ▇▇▇▇▇, ▇▇▇▇▇ Holdings Financial, Petro Distributing, and/or Petro Financial will be liable on various debt obligations that are described on the attached Exhibit ”A” (defined collectively as the “Debt Obligations”).
Because the Existing Holding Partnership Discount Notes are obligations of Petro Holdings, they are effectively subordinated to all obligations of Petro Operating.
Petro Holdings has outstanding $113.4 million aggregate principal amount at maturity of 15 percent senior discount notes due 2008 (“Existing Holding Partnership Discount Notes”).
Petro Stopping Centers Holdings, L.P., Petro Stopping Centers, L.P., Petro, Inc., Petro Holdings Financial Corporation, Petro Distributing, Inc., and Petro Financial Corporation, on behalf of themselves and their respective legal representatives, successors, assigns, subsidiaries and past and present officers, directors, partners, agents and employees, as the Indemnified Parties under this Agreement, hereby consent and agree to the terms and provisions of this Agreement.