Acceptable Sale Process definition

Acceptable Sale Process means that on or about the Petition Date (a) Borrower shallhave filed a motion (the “Sale Motion”) pursuant to Section 363 of the Bankruptcy Code, in form and substance satisfactory to the Administrative Agent, to sell all or substantially all of the Credit Parties’ California Assets as provided by and in accordance with the Bid Procedures and (b) the Company shall have filed a motion (the “Bid Procedures Motion”), in form and substance satisfactory to the Administrative Agent, seeking approval of the Bid Procedures Order, which shall include the right of the Administrative Agent and the Pre-Petition Agent to Credit Bid in connection with any sale of Collateral or Pre-Petition Collateral (as the case may be).
Sample 1Sample 2
Acceptable Sale Process means the filing by Borrower of (i) a motion (the “Sale Motion”) pursuant to Section 363 of the Bankruptcy Code, in form and substance satisfactory to the Administrative Agent, to sell all or substantially all of Borrower’s assets and property or all of the Equity Interests of Borrower (a “Sale”), as provided by and in accordance with the Bid Procedures and (ii) a motion (the “Bid Procedures Motion”), in form and substance satisfactory to the Administrative Agent, seeking approval of the Bid Procedures, which shall include the right of the Administrative Agent and the Pre-Petition Administrative Agent to Credit Bid in connection with any sale of Collateral or Pre-Petition Collateral (as the case may be) and which, for the avoidance of doubt, shall otherwise be in form and substance satisfactory to the Administrative Agent. As used in the Loan Documents, “Acceptable Sale Process” refers, as the context may require, to both the occurrence of (a) and (b) in this definition and to the approved process for conducting an Auction and Sale set forth in the Sale Motion and the Bid Procedures Motion.
Sample 1Sample 2
Acceptable Sale Process means that, within [●] days of entry of the Interim Order, (a) the Borrower shall have filed a motion (the “Sale Motion”) pursuant to Section 363 of the Bankruptcy Code, in form and substance satisfactory to the Agent, to sell all or substantially all of the Borrower’s assets and property of the Borrower (a “Sale”), as provided by and in accordance with the Bid Procedures and (b) the Borrower shall have filed a motion (the “Bid Procedures Motion”), in form and substance satisfactory to the Agent, seeking approval of the Bid Procedures, which shall include the right of the Agent and the Prepetition Agent to Credit Bid in connection with any sale of Collateral or Prepetition Collateral (as the case may be) and which, for the avoidance of doubt, shall otherwise be in form and substance satisfactory to the Agent. As used in the Loan Documents, “Acceptable Sale Process” refers, as the context may require, to both the occurrence of (a) and (b) in this definition and to the approved process for conducting an Auction and Sale set forth in the Sale Motion and the Bid Procedures Motion.
Sample 1

Examples of Acceptable Sale Process in a sentence

  • On the receipt by the Borrower and/or the Debtor of any proceeds of a Sale pursuant to an Acceptable Sale Process, the Borrower shall prepay the Loans and permanently reduce the Commitment in an aggregate amount equal to 100% of such proceeds (net of amounts to be paid pursuant to the Acceptable Sale Process).

  • The Borrower will not, and will not allow any other Person to, (a) use the Properties in a manner that is improper, dangerous, or otherwise not in compliance with Prudent Industry Practice or (b) move the Bennu Titan from its present location except in connection with a Sale pursuant to and in accordance with an Acceptable Sale Process.

  • The Borrower will not sell, assign, convey, lease, allow the use of or otherwise transfer any property except a Sale pursuant to and in accordance with an Acceptable Sale Process.

Related to Acceptable Sale Process

  • E-Auction Process /”E-Auction” shall mean the electronic auction process for sale of the Company conducted in accordance with the provisions of IBC, Liquidation Process Regulations, Applicable Law(s) and this E- Auction Process Information Document inviting Bid from the Bidders for consummating the sale of Company on going concern basis in accordance with the provisions of IBC and Liquidation Process Regulations;

  • Random selection process means a process by which currently income-eligible households are selected for placement in affordable housing units such that no preference is given to one applicant over another except for purposes of matching household income and size with an appropriately priced and sized affordable unit (e.g., by lottery).

  • Acceptable Waste means ordinary household, municipal, institutional, commercial and industrial Solid Waste including, but not limited to, the following:

  • Approved Valuer means a firm of valuers recognized as such by the Income Tax Department and having experience of valuing at least 5 (five) properties exceeding Rs. 100 cr. (Rupees one hundred crore) each in value;

  • RFP Process or “Bidding Process” means the process governing the submission and evaluation of the Bids as set out in the RFP itself;

  • Acceptable earned value management system means an earned value management system that generally complies with system criteria in paragraph (b) of this clause.

  • Successful Bidder” or “Successful E-Auction Process Participant means, the Qualified Bidder whose bid is approved and who is declared successful by the Liquidator at the end of the determined auction phase.C. INTRODUCTION

  • Operational Flow Order means any directive issued to a Customer by KUB which requires the Customer to adjust Deliveries to KUB or deliveries of non-Firm gas to the Customer by KUB.

  • Competitive Process means a formal sealed, electronic, or web-based bid procedure used for all nonclaims related purchases for goods and services over fifty thousand dollars. For purchases between five thousand dollars and fifty thousand dollars, competitive process means quotations obtained from at least three vendors by telephone or written quotations, or both, and supported by evidence of competition. Purchases up to five thousand dollars are exempt from competitive bids providing procurement is based on obtaining maximum quality at minimum cost.

  • Secondary dose monitoring system means a system which will terminate irradiation in the event of failure of the primary dose monitoring system.

  • Eligible In-Transit Inventory means, as of any date of determination thereof, without duplication of other Eligible Inventory, In-Transit Inventory:

  • Toll Billing Exception Service (TBE means a service that allows End Users to restrict third number billing or collect calls to their lines.

  • Approved Valuation Firm means (a) each of (i) Xxxxxxxx Xxxxx Xxxxxx & Xxxxx, (ii) Lincoln International LLC (f/k/a Lincoln Partners LLC), (iii) Duff & Xxxxxx Corp. and (iv) Valuation Research Corporation, and (b) any other nationally recognized valuation firm approved by each of the Borrower and the Administrative Agent in their sole reasonable discretion.

  • Acceptable Appraisal means, with respect to an appraisal of Inventory, the most recent appraisal of such property received by Agent (a) from an appraisal company satisfactory to Agent, (b) the scope and methodology (including, to the extent relevant, any sampling procedure employed by such appraisal company) of which are satisfactory to Agent, and (c) the results of which are satisfactory to Agent, in each case, in Agent’s Permitted Discretion.

  • Selection Notice means a notice substantially in the form set out in Part II of Schedule 3 (Requests) given in accordance with Clause 9 (Interest Periods).

  • Approved Appraiser means any of the following: Xxxxx Xxxxxxxx Xxxxxx, Xxxxx, H Xxxxxxxx & Co. Ltd., London, X.X. Xxxxxx Shipbrokers, Norway, or Fearnley AS, Norway.

  • Proposed Change Order (PCO means a document that informs Contractor of a proposed change in the Work and appropriately describes or otherwise documents such change including Contractor’s response of pricing for the proposed change.

  • Primary dose monitoring system means a system which will monitor the useful beam during irradiation and which will terminate irradiation when a preselected number of dose monitor units have been delivered.

  • Acceptable Collateral means any of the following assets of Borrower, if (x) held in or credited to any Collateral Account subject to a first priority Lien under the applicable Security Agreement and (y) the Collateral Requirement has been satisfied with respect thereto:

  • Locational Deliverability Area Reliability Requirement means the projected internal capacity in the Locational Deliverability Area plus the Capacity Emergency Transfer Objective for the Delivery Year, as determined by the Office of the Interconnection in connection with preparation of the Regional Transmission Expansion Plan, less the minimum internal resources required for all FRR Entities in such Locational Deliverability Area.

  • Administrative merits determination means certain notices or findings of labor law violations issued by an enforcement agency following an investigation. An administrative merits determination may be final or be subject to appeal or further review. To determine whether a particular notice or finding is covered by this definition, it is necessary to consult section II.B. in the DOL Guidance.

  • General purpose radiographic x-ray system means any radiographic x-ray system which, by design, is not limited to radiographic examination of specific anatomical regions.

  • Participating Certified Clinical Nurse Specialist means a Certified Clinical Nurse Specialist who has a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Contractor-acquired property means property acquired, fabricated, or otherwise provided by the Contractor for performing a contract, and to which the Government has title.

  • Valuation Notice means the notice given by the Partnership pursuant to Section 8.5(b) or Section 8.6(a) and stating the Initial Value at which a Purchase Right is to be exercised or at which a Repurchase Obligation is to be effected.

  • Qualified Appraiser An appraiser, duly appointed by the Seller, who had no interest, direct or indirect, in the Mortgaged Property or in any loan made on the security thereof, and whose compensation was not affected by the approval or disapproval of the Mortgage Loan, and such appraiser and the appraisal made by such appraiser both satisfied the requirements of Title XI of FIRREA and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated.