Permitted Disposals amend the definition of Permitted Disposal to include in addition to the existing “Permitted Disposals”:
Permitted Disposals. If, as a result of a Permitted Disposal, the amount outstanding under the Facility exceeds the Borrowing Base Amount, then the required amount of proceeds from such Permitted Disposal to ensure that there is no such excess, after having taken into account the impact of the Permitted Disposal on the Borrowing Base Amount will be used to make a prepayment of the Facility.
Permitted Disposals. The Grantor shall not, except as otherwise permitted hereunder, remove, destroy, lease, sell or otherwise dispose of any of the Collateral except equipment which has become worn out or damaged or otherwise unsuitable for its purpose, in which case the Grantor shall substitute for such equipment, subject to the security interest created hereby and free from any other security interests, property of equal value such that the security hereby constituted shall not thereby be in any way reduced or impaired.
Permitted Disposals. (a) Amend the new limb of the definition of Permitted Disposal referred to in limb (a)(xi) of Paragraph 13 of Schedule 5 (Further Amendments, Waivers, Consents and Other Modifications) to remove the requirement that the surrendering company receives fair market value for tax losses disposed to any member of the Wider Group.
Permitted Disposals. (a) Delete Clause 19.11(b)(liv)(C).
Permitted Disposals. (a) amend limb (xii)(B) of the definition of Permitted Disposal to remove the requirement that the surrendering company receives fair market value for tax losses disposed to any member of the Wider Group;
Permitted Disposals. If on the Disposal Forecast Date relating to the disposal of a Borrowing Base Asset as a Permitted Disposal, the Forecast shows that the aggregate amount of the Loan outstanding under the Facility on that Disposal Forecast Date exceeds the Borrowing Base Amount as determined by that Disposal Forecast Date, the Borrower shall, to the extent required, apply the net amount of proceeds that it (or an Obligor) has received from such Permitted Disposal in prepayment of the Loans to ensure that the amount of Loans outstanding after that payment does not exceed the Borrowing Base Amount on that applicable Disposal Forecast Date.
Permitted Disposals. The Debtor shall not, remove, destroy, lease, sell or otherwise dispose of any of the Collateral (1) except equipment which has become worn out or damaged or otherwise unsuitable for its purpose, in which case the Debtor shall substitute for such equipment, subject to the security interest created hereby and free from any other security interests, property of equal value such that the security hereby constituted shall not thereby be in any way reduced or impaired, (2) except as otherwise permitted hereunder, or (3) except in the ordinary course of Debtor's business.
Permitted Disposals. A Security Holder may:
Permitted Disposals. (a) Unless the Agent (acting on the instructions of the Majority Lenders) otherwise agrees, TCN shall apply or procure the application of an amount equal to the net cash proceeds received by the TCN Group in connection with any sale or disposal of assets in accordance with paragraph (f) of the definition of “Permitted Disposals” in prepayment of the Facility A Outstandings, the Facility B Outstandings and the Facility D Outstandings in accordance with clause 6.8.6 on Interest Payment Dates falling after receipt of the net cash proceeds to the extent that such proceeds have not been reinvested in the business of the TCN Group within 120 days of such disposal.
