Asset Dropdown definition

Asset Dropdown means the sale or contribution by Holdings to the Parent Borrower or any Subsidiary of all of its assets to the extent permitted by applicable law or third party contracts, except as otherwise agreed to by the Administrative Agent.

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Asset Dropdown means the transactions described in -------------- Section 4.1 hereof. -----------

Asset Dropdown is defined in the second recital.

Examples of Asset Dropdown in a sentence

• Holdings will not own or acquire any assets (other than shares of capital stock of the Parent Borrower and the Saturn Subsidiary, any immaterial assets not subject to the Asset Dropdown, cash and Permitted Investments) or incur any liabilities (other than liabilities imposed by law, including tax liabilities, liabilities related to its existence and permitted business and activities specified in the immediately preceding sentence).

• Holdings will not own or acquire any assets (other than shares of capital stock of the Parent Borrower, Permitted Investments, assets to be transferred pursuant to the Asset Dropdown and any other assets that are not subject to the Asset Dropdown) or incur any liabilities (other than liabilities imposed by law, including tax liabilities, liabilities related to its existence and permitted business and activities specified in the immediately preceding sentence).

• As of the Closing Date, after giving effect to the Asset Dropdown, Holdings engages in no business other than holding the outstanding shares of capital stock of the Company.

More Definitions of Asset Dropdown

Asset Dropdown means the sale or contribution by Holdings to the Parent Borrower or any Subsidiary of all of its assets to the extent

Asset Dropdown means the contribution by Holdings of all its assets to the Borrower.