Examples of Acceptable Sale Transaction in a sentence
Other than in connection with an Acceptable Sale Transaction, the Borrower shall not, directly or indirectly, consolidate, amalgamate or merge with or into or wind up or convert into (whether or not the Borrower is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions, to any Person.
To the extent that the Debtors seek approval of an Acceptable Sale Transaction at any point after the occurrence of a Sale Covenant Event, any failure of such Acceptable Sale Transaction (x) to generate proceeds sufficient to pay in full all administrative expense claims incurred in the Cases and/or Successor Cases as applicable, or (y) to otherwise resolve such administrative expense claims shall not be a valid basis for denying any motion to approve an Acceptable Sale Transaction.
Additionally, the removal of the Approved Restructuring, Acceptable Sale Transaction, and Acceptable Plan concepts allows the Debtors the flexibility to entertain higher or otherwise better bids without the fear of defaulting under the Refinancing DIP Facility if such bids are not approved by the Electing Lenders (thereby allowing the Debtors to avoid again finding themselves in exactly the situation they face today), thus maximizing value for all stakeholders.