Permitted Dispositions means each of the following:
Permitted Dispositions means:
Permitted Dispositions means (a) sales or other dispositions of Equipment that is substantially worn, damaged, or obsolete in the ordinary course of business, (b) sales of Inventory to buyers in the ordinary course of business, (c) the use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of the Agreement or the other Loan Documents, (d) the licensing of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business, (e) the sale or issuance by any Subsidiary of Parent of Stock to Parent or any other Subsidiary of Parent, (f) the sale or discounting, without recourse, of Accounts in the ordinary course of business and upon prior notice to Agent, in connection with the compromise or collection thereof, (g) the transfer of assets by any Subsidiary of Parent to any other wholly owned Subsidiary of Parent, to the extent that such Subsidiary has guarantied the Obligations, (h) the sublease of real or personal property by Parent or its Subsidiaries on commercially reasonably terms to the extent that such Person determines that such property is no longer necessary in the conduct of the business of the Loan Parties, (i) the sale, transfer or other disposition of patents, trademarks, copyrights and know-how not used in connection with any Material Videogame Franchise by Parent or its Subsidiaries which, in the reasonable judgment of such Person, are determined to be non-material to the conduct of its business, (j) so long as no Event of Default has occurred and is continuing or would result from such disposition, the dispositions of the Persons and/or assets set forth on Schedule P-2, provided, that, upon the effective date of any such disposition, (i) all of the Accounts and Inventory included in such disposition shall automatically be excluded from the Borrowing Base and (ii) all cash or Cash Equivalents included in such disposition shall automatically be excluded from Qualified Cash, and (k) so long as (i) immediately before and after such sale, no Event of Default shall have occurred and be continuing, and (ii) the amount of Liquidity immediately after such sale is not less than $40,000,000, the sale of other assets by Parent or its Subsidiaries having a fair market value not to exceed $50,000,000 in any year and $200,000,000 in the aggregate during the term of this Agreement.
Examples of Permitted Dispositions in a sentence
Other than Permitted Dispositions, the Borrower will not, directly or indirectly, make any sale, exchange, lease, transfer or other disposition of any of its assets or properties to any Person outside of the ordinary course of business if the cumulative proceeds of all dispositions to be received by the Borrower in any Fiscal Year or would otherwise reasonably be expected to have a Material Adverse Effect, without the prior consent of each of the Lenders.
More Definitions of Permitted Dispositions
Permitted Dispositions means any of the following:
Permitted Dispositions means (a) sales or other dispositions of Equipment that is substantially worn, damaged, or obsolete in the ordinary course of business, (b) sales of Inventory to buyers in the ordinary course of business, (c) the use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents, and (d) the licensing, on a non-exclusive basis, of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business.
Permitted Dispositions means, as to the Borrower or any Guarantor, any of the following:
Permitted Dispositions means (a) sales or other dispositions of Equipment that is substantially worn, damaged, or obsolete in the ordinary course of business, (b) sales of Inventory to buyers in the ordinary course of business (which, in the case of Borrowers, shall include seismic data exchanges consistent with past practice), (c) the use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents, and (d) the licensing, on a non-exclusive basis, of seismic data, patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business.
Permitted Dispositions means (a) sales or other dispositions of Equipment that is substantially worn, damaged, or obsolete in the ordinary course of business, (b) sales of Inventory to buyers in the ordinary course of business, (c) the use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents, and (d) the licensing, on a non-exclusive basis, of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business and (d) the sale of assets having an aggregate book value on the Books of the “Borrowers” (as such term is defined in the WWF Facility) not exceeding $100,000 in any twelve-month period.
Permitted Dispositions means (a) the sale, transfer, lease or other disposition of assets in the Trust Estate, in the ordinary course of business, of inventory held in the ordinary course of business (b) the dispositions set forth in Section 1.10 hereof and (c) other sales, transfers, leases or other dispositions of assets in the Trust Estate, including entering into Space Leases; provided that, in each case, all applicable provisions of the Indenture Documents are complied with.
Permitted Dispositions means (a) sales or other dispositions by Borrower of Equipment that is substantially worn, damaged, outmoded or obsolete in the ordinary course of Borrower's and its Subsidiaries' business, (b) sales by Borrower and its Subsidiaries of Inventory to buyers in the ordinary course of business, (c) the use or transfer of money or Cash Equivalents by Borrower and its Subsidiaries in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents,(d) the licensing by Borrower and its Subsidiaries of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of Borrower's and its Subsidiaries' business consistent with past practice provided that any such licensing and the agreements relating thereto have been approved by a majority of the Independent Directors of Borrower, (e) sales by Borrower of restaurant locations owned by Borrower so long as (1) such sales are to a franchisee or licensee that is not an Affiliate, (2) such sales are the result of arm's length negotiations the existence of which and any agreements, arrangements or understandings relating thereto are promptly and fully disclosed to Lender, (3) all net proceeds of such sales are retained by Borrower for working capital or for any other purpose permitted under this Agreement, (4) Borrower's and its Subsidiaries consolidated net income as determined in accordance with GAAP during the term of this Agreement will not be materially adversely affected by such sale, (5) such sales do not exceed $20,000,000 during the term of this Agreement and (6) such sales and the agreements relating thereto shall have been approved by a majority of the Independent Directors of Borrower; (f) sales of Stock of Borrower or any Subsidiary, (g) sales or other dispositions of Equipment that is surplus or excess Equipment not essential to Borrower's and its Subsidiaries' business so long as such sales do not exceed $1,500,000 during the term of this Agreement, (h) sale of that certain Real Property located at Task Industrial Court, Greenville, South Carolina so long as (1) such sale is to a non-Affiliate, (2) such sale is a result of arms-length negotiations the existence of which and any agreements, arrangements or understandings relating thereto are promptly and fully disclosed to Lender, and (3) such sale and the agreements relating thereto have been approved by a majority of the Independent Directors of Borrower; and (i) the closing of any Deposit Account o...