Solvent Liquidation means any voluntary liquidation, winding up or corporate reconstruction involving the business or assets of, or shares of (or other interests in) any Subsidiary of Unitymedia (other than the Borrowers); provided that, to the extent the Subsidiary of Unitymedia involved in such Solvent Liquidation is a Guarantor, the Successor Company assumes all the obligations of that Guarantor under the Loan Documents and the Intercreditor Agreement to which such Guarantor was a party prior to the Solvent Liquidation unless (i) such Successor Company is an existing Guarantor or (ii) such Successor Company would, but for the operation of this proviso, no longer be required to guarantee the Facilities or any other Senior Indebtedness secured on the Collateral and accordingly any guarantee required by this proviso would become subject to automatic release in accordance with Section 21.8 (Release of Guarantors’ right of contribution) of this Agreement.
Solvent Liquidation has the meaning given to such term in Clause 25.20 (Solvent Liquidation).
Solvent Liquidation means any voluntary liquidation, winding up or corporate reconstruction involving the business or assets of, or shares of (or other interests in) any Subsidiary of a Parent or any Grantor (other than the Issuer); provided that, to the extent such Subsidiary of a Parent or Grantor involved in such Solvent Liquidation is a Guarantor, the Successor Company assumes all the obligations of that Guarantor under this Indenture, the Note Guarantee, and any Intercreditor Agreement, in each case, to which such Guarantor was a party prior to the Solvent Liquidation unless (1) such Successor Company is an existing Guarantor or (2) such Successor Company would, but for the operation of this proviso, no longer be required to guarantee the Notes or any other Senior Secured Indebtedness secured on the Collateral and accordingly any guarantee required by this proviso would become subject to automatic release in accordance with the provisions set forth under Section 10.03.
Examples of Solvent Liquidation in a sentence
Solvent liquidation takes the form of members’ voluntary liquidation.
Except for the matter described in the section Emphasis of matter - Solvent liquidation basis for the Company and the Group, we have determined that there are no other key audit matters to communicate in our report.
Solvent liquidation' means a liquidation where all creditors received or will receive all that they were owed (paid in full), i.e. 100 cents in the dollar.
Solvent liquidation can take as little as six months to complete, in contrast to insolvent liquidation which can last for a number of years.
Emphasis of matter - Solvent liquidation basis of the Company and the GroupThe Liquidator is in the process of a solvent liquidation of the Company and the Group.
More Definitions of Solvent Liquidation
Solvent Liquidation has the meaning specified in Section 7.13.
Solvent Liquidation means any voluntary liquidation, winding up or corporate reconstruction involving the business or assets of, or shares of (or other interests in) any Subsidiary of a Parent or any Grantor (other than the Company); provided that, to the extent such Subsidiary of a Parent or Grantor involved in such Solvent Liquidation is a Proceeds Loan Obligor, the Successor Company assumes all the obligations of that Proceeds Loan Obligor under the Covenant Agreement, the other Proceeds Loan Finance Documents and any Intercreditor Agreement to which such Proceeds Loan Obligor was a party prior to the Solvent Liquidation unless (i) such Successor Company is an existing Proceeds Loan Obligor or (ii) with respect to a Proceeds Loan Guarantor, such Successor Company would, but for the operation of this proviso, no longer be required to guarantee the Proceeds Loans or any other Senior Secured Indebtedness secured on the Proceeds Loan Collateral and accordingly any guarantee required by this proviso would become subject to automatic release in accordance with Section 11.09(b) of this Agreement.
Solvent Liquidation means a liquidation where all creditors received or will receive all that they were owed (paid in full), i.e. 100 cents in the dollar. 2 'Insolvent liquidation' means a liquidation where some or all creditors received or will receive less than what they were owed (not paid in full), i.e. less than 100 cents in the dollar.
Solvent Liquidation means any voluntary liquidation, winding up or corporate reconstruction involving the business or assets of, or shares of (or other interests in) any Subsidiary of Virgin Media (other than the Issuer); provided that, to the extent the Subsidiary of Virgin Media involved in such Solvent Liquidation is a Guarantor, the Successor Company assumes all the obligations of that Guarantor under its Note Guarantee, this Indenture, the Intercreditor Deeds and the Security Documents to which such Guarantor was a party prior to the Solvent Liquidation unless (1) such Successor Company is an existing Guarantor or (2) such Successor Company would, but for the operation of this proviso, no longer be required to guarantee the Senior Credit Facility or any other Pari Passu Lien Obligation and accordingly any Guarantee required by this proviso would become subject to automatic release in accordance with Section 10.05(i) and Section 10.05(j).
Solvent Liquidation means any voluntary liquidation, winding up or corporate reconstruction involving the business or assets of, or shares of (or other interests in) any Subsidiary of a Parent or any Grantor (other than the Company); provided that, to the extent such Subsidiary of a Parent or Grantor involved in such Solvent Liquidation is a Proceeds Loan Obligor, the Successor Company assumes all the obligations of that Proceeds Loan Obligor under this Indenture, the Covenant Agreement, the Proceeds Loan, the Proceeds Loan Guarantee and the Intercreditor Agreement, in each case, to which such Proceeds Loan Obligor was a party prior to the Solvent Liquidation unless (i) such Successor Company is an existing Proceeds Loan Obligor or (ii) with respect to a Proceeds Loan Guarantor, such Successor Company would, but for the operation of this proviso, no longer be required to guarantee the Proceeds Loan or any Senior Secured Indebtedness secured on the Proceeds Loan Collateral and accordingly any guarantee required by this proviso would become subject to automatic release in accordance with the provisions set forth under Section 10.05.
Solvent Liquidation means any voluntary liquidation, winding up or corporate reconstruction involving the business or assets of, or shares of (or other interests in) any Subsidiary of a Parent or any Grantor (other than the Company); provided that, to the extent such Subsidiary of a Parent or Grantor involved in such Solvent Liquidation is a Proceeds Loan Obligor, the Successor Company assumes all the obligations of that Proceeds Loan Obligor under this Indenture, the Covenant Agreement, the Proceeds Loan, the Proceeds
Solvent Liquidation means any voluntary liquidation, winding up or corporate reconstruction involving the business or assets of, or shares of (or other interests in) any Subsidiary of a Parent or any Grantor (other than the Company); provided that, to the extent such Subsidiary of a Parent or Grantor involved in such Solvent Liquidation is a Guarantor,