CNL Transaction definition
Examples of CNL Transaction in a sentence
The execution and delivery of the CNL Transaction Agreements and the consummation of the transactions contemplated thereby have been duly and validly authorized by all necessary corporate action in respect thereof on the part of BYL and BYL Bank.
BYL and BYL Bank had all requisite corporate power and authority to enter into the CNL Transaction Agreements and (subject to receipt of all necessary governmental approvals) to perform all of their obligations under the CNL Transaction Agreements.
Except as set forth on Schedule 3.1(q) or with respect to the transactions contemplated by this Agreement or any Related Agreement and the CNL Transaction, since December 28, 2001, the Company and each Company Subsidiary has operated the Business in the ordinary course and in all material respects in accordance with past practice, other than general planning and discussions in connection with the possible spin-off or sale of the Company (which has not had a material adverse effect on the Business).
The Parties are entering into this Agreement with the understanding that the CNL Transaction will be consummated prior to the Closing and that Buyer not acquire the CNL Assets or receive or retain the proceeds of the CNL Transaction.
Except for consents and approvals of or filings or registrations with or notices to the Government Entities referred to in the CNL Transaction Agreements, no consents or approvals of or filings or registrations with or notices to any Governmental Entity are required on behalf of BYL or BYL Bank in connection with (a) the execution and delivery of the CNL Transaction Agreements by BYL and BYL Bank and (b) the completion by BYL and BYL Bank of the transactions contemplated thereby.