Examples of TCR Holding in a sentence
TCR Holding and TransContinental have caused this Assumption Agreement to be duly executed on and effective as of day and year first above written.
Notwithstanding anything in this Indenture to the contrary, (i) TARC shall not, directly or indirectly, Incur or suffer to exist any Lien on the Capital Stock of TCR Holding owned by it (other than a Lien to secure the TARC Intercompany Loan), (ii) TCR Holding may incur a Lien on Capital Stock of TransContinental to secure the TARC Working Capital Loan and (iii) TransContinental shall not be bound by this Section 4.13.
Notwithstanding anything contained herein to the contrary, neither the Company nor TCR Holding may create an encumbrance or restriction on their ability to pay premium, if any, principal of, or interest on, the TARC Intercompany Loan.
As a result of subsequent issuances of securities by TCR Holding, the residual equity interest represented by the TCR Holding preferred stock owned by TARC has been reduced to 30.4%.
TCR HOLDING CORPORATION By: ---------------------------------- Name: Title: TRANSAMERICAN REFINING CORPORATION By: ---------------------------------- Name: Title: SCHEDULE C ASSUMPTION AGREEMENT THIS ASSUMPTION AGREEMENT is entered into this 15th day of December, 1998 by and between TCR Holding Corporation, a Delaware corporation ("Purchaser"), and TransAmerican Refining Corporation, a Texas corporation ("Seller").
Upon the assumption by TCR Holding of all of the obligations of TARC under the TARC Intercompany Loan, TARC shall be released from any further obligation with respect to the TARC Intercompany Loan.
On the terms and subject to the conditions set forth in this Agreement, TCR Holding will transfer, convey, assign and deliver to TransContinental, and TransContinental will acquire, at the Closing, all of TCR Holding's right, title and interest in, to and under the Assets and Properties of TCR Holding, except as otherwise provided in Sections 1.01(b) and 1.02, as the same shall exist on the Closing Date (the "Assets").
If any such consent shall not be obtained, TARC shall cooperate with TCR Holding in any arrangement designed to provide TCR Holding with the benefits intended to be assigned to TCR Holding under or pursuant to such Asset, including enforcement at the cost and for the account of TARC of any and all rights of TARC against the other party thereto arising out of the breach or cancellation thereof by such other party or otherwise.
Subject to (f) below, no action shall be taken, sum expended, decision made or obligation incurred by or on behalf of the Company with respect to any matter unless approved or ratified by a majority of the TCR Holding Board.
The purchase price of the shares of the TCR Holding Repurchasable Preferred Stock to be purchased pursuant to the Repurchase Right shall be paid by certified or cashier's check or by wire transfer upon the closing and receipt of the certificates representing such shares of the TCR Holding Repurchasable Preferred Stock together with appropriate stock powers.