Discontinued Operations Sample Clauses

Discontinued Operations. Notwithstanding anything to the contrary in this Agreement or any classification under GAAP of any Person, business, assets or operations in respect of which a definitive agreement for the disposition thereof has been entered into as discontinued operations, no pro forma effect shall be given to any discontinued operations (and the Consolidated EBITDA attributable to any such Person, business, assets or operations shall not be excluded for any purposes hereunder) until such disposition shall have been consummated.
Discontinued Operations. For the first quarter of fiscal 1995, income from discontinued real estate operations (approximately $.01 per share) is not included in operating results for periods subsequent to the announcement date (fourth quarter of fiscal 1994) and through the date of disposal (second quarter of fiscal 1995). In the first quarter of fiscal 1994, there was after-tax income from discontinued real estate operations of $3,947, or $.02 per share, including a $4,210 pre-tax gain ($.01 per share after tax) on the sale of a shopping center. Upon completion of the spin-off of Price Enterprises, the Company will adjust its estimated loss on disposal of the discontinued real estate segment recorded in the fourth quarter of fiscal 1994 to the actual loss based on the trading price of Price Enterprises' common stock following the completion of the Exchange Offer. The Exchange Offer expired on December 20, 1994 in accordance with the terms of the Exchange Offer. LIQUIDITY AND CAPITAL RESOURCES (DOLLARS IN THOUSANDS) PriceCostco's primary requirement for capital is the financing of the land, building and equipment costs for new warehouses plus the costs of initial warehouse operations and working capital requirements. PriceCostco does not expect to make significant investments in non-club real estate in the future. Additional capital will be required for international expansion through investments in foreign subsidiaries and joint ventures. In the first quarter of fiscal 1995, net cash used in operating activities totalled $37,906 and cash invested in property and equipment totalled $96,608. These activities, among others, were financed by additions to notes payable of $162,702. Expansion plans for the United States and Canada during fiscal 1995 are to open approximately 30 new warehouse clubs including 6 locations that will replace existing warehouses. The Company also expects to continue expansion of its international operations. The Company opened two warehouses in the United Kingdom through a 60%-owned subsidiary in fiscal 1994, with a third location due to open in June, 1995. In October 1994, under a licensing agreement with PriceCostco, a Price Club opened in Seoul, Korea. The Company has a 50% interest in a joint venture that operates 11 warehouse clubs as of December, 1994 in Mexico. On December 6, 1994 the Company announced a non-binding expression of intent to sell to Comercial Mexicana or its assignee the Company's 50% interest in the Mexico operations. While there can b...
Discontinued Operations. (a) Upon its sale of the Discontinued Operations, the Company shall apply the net proceeds from such sale to the repayment of the Loans, first to the extent applicable the RLC, second to the extent applicable the Term B Loan and third to the extent applicable the Term A Loan.
Discontinued Operations. Notwithstanding anything to the contrary in this Agreement or any other Loan Document, the Discontinued Operations shall not conduct, transact or otherwise engage in, or commit to conduct, transact or otherwise engage in, any business or operations other than those incidental to (a) the prosecution or defense in litigation or otherwise of claims asserted against the Discontinued Operations arising out of retained liabilities, the conduct of activities required in compliance with applicable law or in adjudication or administration of claims (whether by court order or negotiated settlement or otherwise), the maintenance of its corporate existence and financial record-keeping, or the engagement of personnel, counsel or third parties to conduct such activities on its behalf, and (b) the winding-up, dissolution, liquidation or other similar actions relating to the Discontinued Operations.
Discontinued Operations. The Agent shall have received evidence in form and substance satisfactory to it that (a) all Borrower Affiliates' investments in the Discontinued Operations shall have been terminated, (b) Meritec, Carolina Med and Carolina Summit shall have been liquidated and dissolved (and their operations wound-up) in accordance with all applicable Requirements of Law (provided, however, that Meritec and Carolina Med will be permitted to maintain their respective corporate existences for the sole purpose of being parties to the leases that are in force as of the date hereof (and any subleases relating thereto, but excluding any leases of any other real property)) and (c) the Borrower's corporate airplane shall have been sold.
Discontinued Operations. All assets, properties, rights and ----------------------- interests in, under or to agreements, instruments or contracts relating to businesses, operations or assets that immediately prior to the Closing have been (i) closed, wound up or otherwise terminated or (ii) ceased to be held or used in connection with Transferor's businesses or operations, including the Business that is conducted at the Facilities; and
Discontinued Operations. The definition of "Discontinued Operations" contained in Section 1.1 is hereby amended by deleting the date "December 14, 1997" in its entirety and substituting therefor the new date "November 14, 1997".
Discontinued Operations. On April 30, 1998 the Company's Board of Directors decided to discontinue the Company's investment management services business. A wholly owned subsidiary of the Company, WisdomTree Capital Management, Inc. ("WTCM"), serves as general partner of (and is an investor in) a domestic private investment fund. The Company is also a limited partner in the fund. As a result of the Board's decision, WTCM is dissolving the domestic investment fund, liquidating its investments and distributing the net assets to all investors as promptly as possible. In July 1998 the fund distributed $19,682,415 to its partners in cash and securities. In October 1998 the fund distributed additional funds totaling approximately $4,500,000 in cash to its partners. The remainder of the net assets will be distributed as soon as the investments held by the fund are liquidated. The operating results relating to investment management services have been segregated from continuing operations and reported as a separate line item on the statement of operations. As a result the Company has restated its financial statements for the corresponding periods of the prior year. Operating results from discontinued operations are as follows: Three Months Ended Nine Months Ended September 30, September 30, 1998 1997 1998 1997 Investment management services revenues $ - $ 141,999 $ 137,183 $ 439,191 Net (depreciation) appreciation in fund - 1,371,887 (276,497) (159,283) Operating expenses - (40,662) (50,315) (194,580) ============== ================ ============== =============== (Loss) income from discontinued operations - $1,473,224 ($ 189,629) $ 85,328 ============== ================ ============== =============== Loss on disposal of discontinued operations totaled $145,291 and $591,741 for the three and nine months ended September 30, 1998, respectively. Under generally accepted accounting principles, loss on disposal of discontinued operations includes actual losses from the date the Board resolved to discontinue the investment management services operations plus a provision for additional losses based on management's best estimate of the amount to be realized on dissolution of the fund, including applicable severance and legal fees. Additional losses were incurred in the third quarter as a result of changes in the market value of the fund's investments. The fair market value of the Company's investment in the discontinued operations decreased from $4,037,432 at December 31, 1997 to $816,580 at Septemb...