Examples of Transferring Subsidiaries in a sentence
Except for the Non-Debtor Subsidiaries, all of the Asset Transferring Subsidiaries and Intermediate Subsidiaries are Debtors.
The Asset Transferring Subsidiaries are the only Subsidiaries of Seller that have any right, title or other interest in or to the Assets of Seller and its Affiliates (other than the Transferred Joint Venture Entities) that are Related to the Acquired Business.
In the event that consent is not obtained from all Other Shareholders, it is possible that (with the consent of the Ad Hoc Committee): (i) the shares registered in the name of the Other Shareholders may not be able to be transferred to LTD Newco or a nominee thereof (and/or the CSP); and(ii) in the absence of regulator consent, LTD may not be able to transfer its shares in the Transferring Subsidiaries or procure the transfer of all Other Shareholders’ shares in the Transferring Subsidiaries.
Transferring Subsidiaries and Non-Transferring SubsidiariesThere are currently a number of Transferring Subsidiaries and Non- Transferring Subsidiaries which are not direct subsidiaries of LTD or a Related DOCA Company (being indirect subsidiaries, or subsidiaries).
SAK Texas, LLC (“ SAK”) has been selected by the Granite Landlords as the interim manager for the facilities owed/operated by the Transferring Subsidiaries (the “SAK Facilities”).
In the event the consent of one or more Other Shareholders is not obtained, it is contemplated that the Administrators would request approval from the relevant regulators to transfer LTD shareholdings in the Transferring Subsidiaries without the consent of the relevant third party owners, amongst other strategies discussed at section6.19.2 below.
Appendix 13 sets out which of the Transferring Subsidiaries have Other Shareholders, and the percentage of shareholding that the relevant Other Shareholder owns.
Those conditions include among other things the completion of each step of the Pre-Completion Reorganisation described above at section 6.18.1. Section 6.18.1 above notes that there are various circumstances under which one or more of either the Transferring Subsidiaries or certain of the Properties may not be able to be transferred to LTD Newco or Property Holdco in circumstances which are outside of the Administrators’ control.
All restructuring costs of the Debtors’ estates incurred before or after an applicable Closing Date, including, without limitation, administrative claims or other obligations under the Plan shall remain obligations of the non-SAK Facility Debtors’ estates, and the Granite OpCos and the Transferring Subsidiaries shall not have any liability for such restructuring costs.
Other Shareholders The consent of each Other Shareholder is required in order to effect: (i) a transfer of the relevant Other Shareholder’s shares in the Transferring Subsidiaries; and(ii) in certain instances, in the absence of regulator consent, LTD’s shares in the relevant Transferring Subsidiary.