ASSETS HELD FOR SALE Sample Clauses

ASSETS HELD FOR SALE. During the latter half of 2000, management identified certain businesses and other assets to be sold as part of the Company's Fresh Start initiative. The carrying value of the net assets of those businesses and other assets has been reduced to management's estimate of fair value less estimated costs to sell by providing a charge for impairment in the amount of $29.3 million. In estimating fair value, management considered, among other things, the range of preliminary prices being discussed with potential buyers. At December 31, 2000, Assets held for sale, net represents the net assets of 26 funeral homes, 13 cemeteries and
Sample 1
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ASSETS HELD FOR SALE. During the latter half of 2000, management identified certain businesses and other assets to be sold as part of the Company's Fresh Start initiative (a multi-element restructuring program which was intended to improve financial and operating performance). The carrying value of the net assets of those businesses and other assets has been reduced to management's estimate of fair value less estimated costs to sell by providing a charge for impairment in the amount of $29.3 million. In estimating fair value, management considered, among other things, the range of preliminary prices being discussed with potential buyers. At December 31, 2000, assets held for sale, net represented the net assets of 26 funeral homes, 13 cemeteries and 14 parcels of real estate. During 2001 the Company sold or closed 16 funeral homes, eight cemeteries and four parcels of real estate for $11.9 million. At December 31, 2001, assets held for sale, net represents 10 funeral homes, five cemeteries and 10 parcels of real estate. A summary of the net assets included in the category is as follows: 2000 2001 -------- -------- (IN THOUSANDS) Accounts receivable, net................................ $ 3,630 $ 918 Inventories and other current assets.................... 682 243 Property, plant and equipment, net...................... 23,760 11,310 Cemetery property....................................... 4,470 2,731 Goodwill, net........................................... 15,275 6,614 Preneed cemetery and funeral trust funds and other assets................................................ 35,280 23,061 -------- -------- Total assets.......................................... 83,097 44,877 Current liabilities..................................... 8,087 1,424 Deferred cemetery and funeral revenue................... 33,412 23,446 Long-term debt and capital leases....................... 2,303 950 -------- -------- Total liabilities..................................... 43,802 25,820 Net assets held for sale................................ 39,295 19,057 Allowance for impairment................................ (29,277) (16,770) -------- -------- Assets held for sale, net............................... $ 10,018 $ 2,287 ======== ======== The operating results of the businesses held for sale included in the consolidated statement of operations for each of the three years in the period ended December 31, 2001 were as follows: 1999 -------- (IN 2000 -------- THOUSANDS) 2001 -------- Funeral revenues, net.......
Sample 1
ASSETS HELD FOR SALE. The Company recorded a charge of $9,600 to adjust the carrying value of certain assets held for sale to their estimated fair value in 1997. These assets include the original riverboat casino the Company utilized in Alton, Illinois from September 1991 until May 1993 and a barge utilized as a temporary landing facility in Lawrenceburg, Indiana until December 10, 1997. The estimated fair value of the assets was determined through discussions with a broker and comparison to other riverboats and barges currently available for sale. The adjusted carrying value of the boat and barge of approximately $4,300 was included in other assets in the accompanying balance sheet at December 31, 1998. The boat was sold to a third party in 1999. During 1999, the Company determined the barge held for sale was useable as part of the Alton property's dockside renovation. The barge was placed back in service during December 1999 and has been reclassified to property and equipment.
Sample 1
ASSETS HELD FOR SALE. (a) CBI and the Subscribers agree that the proceeds of the sale of any Asset Held for Sale after the date of this agreement and before the date that is 12 months from Completion, will be shared equally between CBI and the Subscribers. The Subscriber must procure that the relevant Brand Company pays any such proceeds to CBI and the Subscribers in the manner they respectively reasonably request.
Sample 1
ASSETS HELD FOR SALE. It is the Company's policy to dispose of vessels and other fixed assets when suitable opportunities occur and not necessarily to keep them until the end of their useful life. The Company classifies assets and disposal groups as being held for sale in accordance with SFAS No. 144, "Accounting for the Impairment or the Disposal of Long-Lived Assets", when the following criteria are met: management has committed to a plan to sell the asset (disposal group); the asset (disposal group) is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell the asset (disposal group) have been initiated; the sale of the asset (disposal group) is probable, and transfer of the asset (disposal group) is expected to qualify for recognition as a completed sale within one year; the asset (disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets or disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These assets are not depreciated once they meet the criteria to be held for sale. No assets were classified as held for sale in any of the periods presented.
Sample 1
ASSETS HELD FOR SALE. North American operations of the titanium distribution company, Titanium Industries, Inc., excluding the Frackville, PA facility. - The capital stock of Coordinators, Inc. $000's REAL PROPERTY LOCATION DESCRIPTION NBV ---------------------- ----------- ------- Ann Arbor, MI Land 2.3 San Marcos, CA Land 0 Xxxxxxxxx, XX Xxxx 000.0 Xxxxx El Monte, CA Land 220.8 Galveston, TX Land 98.3 Mohnton, PA Land - Buildings 86.7 Muskegon, MI Land 221.5 Hartville, OH Land - Xxxxxxxxx 0 Cleveland, OH Land 0 Ansonix, XX Land - Buildings 99.5 Latrobe, PA Land 37.1 San Diego, CA Land 993.6 Chester, PA Land - Buildings 0 Howell, MI Land - Buildings 260.9 San Diego, CA1 Land - Xxxxxxxxx 0 Xxxxxxxxx, XX Xxxxxxxxx 0,000.0 Xxxxxxeld, UK Land 2,900.0 Nyon, SUI Buildings 3,125.0 Albany, OR Land 4,038.0 Monroe, NC Land 7.1 Monroe, NC Land 8.3 Monroe, NC Land 1.2 Monroe, NC Land 21.9 Monroe, NC Land 10.8 Richburg, SC Land 146.0 Xichburg, SC Land 1,025.0 Xoodstock, Ontario Land - Buildings 50.5 Skokie, IL Land 812.0 Buildings 891.6 Pittsburgh, PA(2) Buildings 0 San Diexx, XX Xxxx 000.0 Xxxxxxn, TX Land 120.5 Building 788.2 ------- 17,627.3 --------------------------------------- (2) Leased space held for sublease.
Sample 1
ASSETS HELD FOR SALE. The Company is disposing of certain assets to comply with governmental orders related to the mergers and certain other assets as a result of implementing the business strategy related to the WM Holdings Merger. These businesses' results of operations are fully included in revenues and expenses in the accompanying statements of operations, and generated third party operating revenues of approximately $103.3 million and earnings before interest and taxes of approximately $6.3 million in 1999. In addition, as a result of the WM Holdings Merger and Eastern Merger, various real estate became duplicative and surplus, and will be sold. The Company has recorded charges to write down these assets to fair value, less costs to sell. These charges are based on estimates and certain contingencies that could materially differ from actual results and resolution of any such contingencies.
Sample 1
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Related to ASSETS HELD FOR SALE

  • Assets Purchased by Assuming Institution With the exception of certain assets expressly excluded in Sections 3.5 and 3.6, the Assuming Institution hereby purchases from the Receiver, and the Receiver hereby sells, assigns, transfers, conveys, and delivers to the Assuming Institution, all right, title, and interest of the Receiver in and to all of the assets (real, personal and mixed, wherever located and however acquired) including all subsidiaries, joint ventures, partnerships, and any and all other business combinations or arrangements, whether active, inactive, dissolved or terminated, of the Failed Bank whether or not reflected on the books of the Failed Bank as of Bank Closing. Assets are purchased hereunder by the Assuming Institution subject to all liabilities for indebtedness collateralized by Liens affecting such Assets to the extent provided in Section 2.1.

  • Assets Not Purchased by Assuming Institution The Assuming Institution does not purchase, acquire or assume, or (except as otherwise expressly provided in this Agreement) obtain an option to purchase, acquire or assume under this Agreement:

  • REO Disposition Within 30 days following an REO Disposition, the Servicer shall provide to the Master Servicer a statement of accounting for the related REO, including without limitation, (i) the loan number of the related Mortgage Loan, (ii) the date such Mortgaged Property was acquired in foreclosure or by deed in lieu of foreclosure, (iii) the date of REO Disposition, (iv) the gross sales price and related selling and other expenses, (v) accrued interest calculated from the date of acquisition to the disposition date and (vi) such other information as the related trustee may reasonably request.

  • Transfer Assets Not sell, contract for sale, transfer, convey, assign, lease or sublet any of its assets except in the ordinary course of business as presently conducted by the Borrower, and then, only for full, fair and reasonable consideration.

  • Assets Purchased Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller, on the terms and conditions set forth in this Agreement the following assets ("Assets"):

  • Assets to be Transferred The Selling Fund shall transfer all of its assets to the Acquiring Fund, including, without limitation, all cash, securities, commodities, interests in futures and dividends or interest receivables, owned by the Selling Fund and any deferred or prepaid expenses shown as an asset on the books of the Selling Fund on the Closing Date, as such term is defined in Section 3.1.

  • Disposition of Assets; Etc The Borrower will not, and will not permit any of its Subsidiaries to, sell, lease, license, transfer, assign or otherwise dispose of any of its business, assets, rights, revenues or property, real, personal or mixed, tangible or intangible, whether in one or a series of transactions, other than inventory sold in the ordinary course of business upon customary credit terms, sales of scrap or obsolete material or equipment, the lapse of intellectual property of the Borrower or any of its Subsidiaries that is no longer useful or material to their business and sales of fixed assets the proceeds of which are used to purchase other property of a similar nature of at least equivalent value within 180 days of such sale, provided, however, that this Section 6.09 shall not (a) prohibit any sale or other transfer of an interest in accounts or notes receivable to a Securitization Entity pursuant to Permitted Securitization Transactions if the aggregate outstanding principal amount of the Indebtedness under all Permitted Securitization Transactions does not exceed $250,000,000, (b) prohibit any sale or other transfer of any asset of the Borrower or any Subsidiary to the Borrower or any Subsidiary that is a Guarantor and (c) prohibit any such sale, lease, license, transfer, assignment or other disposition if the aggregate book value (disregarding any write-downs of such book value other than ordinary depreciation and amortization) of all of the business, assets, rights, revenues and property sold, leased, licensed, transferred, assigned or otherwise disposed of after the Effective Date and on or prior to such transaction date shall be less than 40% of the aggregate book value of the Consolidated Total Assets as of the end of the fiscal year immediately preceding such transaction and the aggregate amount of businesses, assets, rights, revenues and property sold, leased, licensed, transferred, assigned or otherwise disposed of after the Effective date and on or prior to such transaction date shall be responsible for less than 40% of the consolidated net sales or net income of the Borrower and its Subsidiaries for the fiscal year immediately preceding the date of such transaction, and if immediately after any such transaction, no Default shall exist or shall have occurred and be continuing.

  • Sale and Transfer of Assets Closing 2.1 Assets to be Sold Upon the terms and subject to the conditions set forth in this Agreement, at the Closing, Seller shall sell, convey, assign, transfer and deliver to Buyer, and Buyer shall purchase and acquire from Seller, free and clear of any Encumbrances other than Permitted Encumbrances, all of Seller’s right, title and interest in and to all of Seller’s property and assets, real, personal or mixed, tangible and intangible, of every kind and description, wherever located, including but not limited to the following (but excluding the Excluded Assets):

  • Disposition of Property Dispose of any of its property, whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell any shares of such Subsidiary’s Capital Stock to any Person, except:

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