Trico Supply definition
Examples of Trico Supply in a sentence
Trico Operators shall not, without the consent of the Debentureholders holding at least a majority in principal amount of the Second-Lien Notes then outstanding, reduce or otherwise deem any amount owing under the Trico Supply Intercompany Loan satisfied or paid (including any principal, interest or other amount due thereunder) without the receipt of cash or other assets of the type described in Section 3.2(a)(i) through (iv) above, of equal or greater value.
None of the Subsidiaries of the Company (other than Trico Marine Assets, Inc., Trico Marine Operators, Inc., Trico Supply AS and Trico Shipping AS (collectively, the “Significant Subsidiaries”)) is a “significant subsidiary” (as defined in Rule 1-02 of Regulation S-X).
Sections 1-3 and 1-4 of the Norwegian Public Companies Act on upstream guaranties/providing of security, and the Guaranty shall only become effective as to Trico Supply upon Trico Supply first having received duly perfected security interests provided for in the Trico Supply Collateral Vessel Mortgage.
Xxxx Title: Managing Director GUARANTORS Trico Supply AS By /s/ Xxxxx X.
The Company will not, and will not permit any of its Subsidiaries to, take any action (including the making of any distribution or dividend by Trico Supply on or in respect of its Equity Interests or in reduction of its capital pursuant to the Mirror Notes or otherwise) the effect of which is or would be to reduce the maximum amount of the obligation of Trico Supply, as Guarantor pursuant to Section 9, below NOK 198,000,000, without the prior written consent of the Majority Lenders.
Each of the Company and the Agents and the Lenders hereby agrees that it shall not hold the Directors of TMIH personally liable for or in respect of, and expressly waives any claim it might now or in the future have as a matter of Netherlands law against the Directors of TMIH for personal liability for or in respect of, the authorization, execution, delivery and performance by TMIH of the Trico Supply Share Purchase Agreement.
He is also a Certified Public Accountant from the Norwegian School of Economics (NHH) Steven RooneyPrevious positions include Chartering Manager and HSE Manager for Bourbon Offshore Norway AS, Safety & QA-Manager for Trico Supply AS, Safety & QA-Manager and Chief Officer for Saevik Supply ASA.
The Borrower will not, and will not permit any of its Subsidiaries (other than the Trico Supply Group) to, make any Capital Expenditures, except that the Subsidiaries of the Borrower may make Maintenance Capital Expenditures in an amount not to exceed $2,000,000 in the aggregate during the term of this Agreement.
The Borrowers will not permit the proceeds of the Loans to be used, directly or indirectly, (i) to fund any challenge to the validity, priority or enforceability of the Prepetition Credit Documents or the Liens granted thereunder, or to object to, or otherwise oppose or impede the granting of, the Prepetition Claims Release, or (ii) to cash collateralize L/Cs issued for the benefit of Trico Supply or any of its Subsidiaries.
Except as may have been pledged prior to the Effective Date and other than with respect to Intercompany Loans that are fully made by and owed to Subsidiaries that are members of the Trico Supply Group, the Credit Parties shall not (and shall not permit any of its Subsidiaries to) sell, pledge or otherwise transfer any of its rights, title or interests in any Intercompany Loan except to the Agent as security for the Loans.