Core Asset Sale definition

Core Asset Sale means the sale, license, transfer or other disposition (by way of merger, casualty, condemnation or otherwise) by the Borrower to any Person (other than the Borrower) of any SCO assets other than Borrower’s rights in the Litigation and the Litigation Proceeds and other than SCO’s Non-Core Assets, as defined herein.
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Core Asset Sale means an Asset Sale involving the properties or Capital Stock of the Lake Erie Steel Business, the Hxxxxxxx Xxxxx Business, the Lake Erie Coke Business or the Hxxxxxxx Coke Business.
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Core Asset Sale. (as defined in Section 5.18) has closed on or prior to the Effective Time, the holder of each share of Stel Common Stock shall have the right to receive for each share of Stel Common Stock, an additional fraction of a share (the "Contingent Value Ratio") of fully paid and nonassessable Newbridge Common Stock as is determined using the following formula: [B + C - D + E] [-------------] divided by V SS where,
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Examples of Core Asset Sale in a sentence

  • The f irst of these is a balance sheet Restructuring, reorganisation, or compromise of the liabilities of the Group (a ‘Reorganisation’), which would be achieved largely via the DOCAs and the second, to be undertaken if the Reorganisation fails is a Core Asset Sale Scenario marketing process.

  • It is the worst-case scenario of the likely alternatives and it is substantially worse for unsecured creditors than the DOCAs or the Core Asset Sale Scenario.

  • The relative returns of creditors in the Restructuring and the Core Asset Sale Scenario are discussed at section 7.In respect to both the DOCAs and Core Asset Sale Scenario, we have been working alongside our legal and financial advisers and have been in regular dialogue with both the AFF Financiers and Ad Hoc Group.

  • The EPM can also be used to model creditors’ returns against each DOCA Company in the Core Asset Sale Scenario.

  • The court was aware of the Core Asset Sale due to informal notice from Debtors’ counsel and because of filings in other appeals from the Walter Energy bankruptcy.

  • Estimates of the timing are as follows: • DOCAs: Q4 2021 (date at which the Holdco Facilities are issued)• Core Asset Sale Scenario: H1 2023 (sale completion date)• Liquidation: H2 2022We have used FY22 EBITDA numbers for the estimated returns in respect to the DOCAs (see section 7).

  • A Core Asset Sale Scenario would however be the most likely alternative to the Restructuring because it is the next best alternative to the DOCAs, as compared to the liquidation alternative below.LiquidationIn the event neither the DOCAs nor the Core Asset Sale Scenario are achievable, it is likely that a controlled liquidation process would be undertaken over an accelerated timeframe to realise assets and distribute recoveries to creditors (a “Liquidation”).

  • Appellant did not seek a stay of the underlying Core Asset Sale pending appeal in either the Bankruptcy Court or this court.

  • A Core Asset Sale Scenario would likely be more time consuming and complex than the transfer envisaged under the DOCAs, and would likely be perceived as distressed, therefore, leading to lower recoveries for creditors in the form of the cash generated from such a sale.

  • It alleged that petitioner had willfully violated Chapter 44 of Title 18, United States Code.


More Definitions of Core Asset Sale

Core Asset Sale means an Asset Sale involving the properties or Capital Stock of the Lake Erie Steel Business, the Xxxxxxxx Xxxxx Business, the Lake Erie Coke Business or the Xxxxxxxx Coke Business.
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Related to Core Asset Sale

  • Asset Sale means any sale, issuance, conveyance, transfer, lease or other disposition (including, without limitation, by way of merger, consolidation or sale and leaseback transaction) (collectively, a “transfer”), directly or indirectly, in one or a series of related transactions, of:

  • Specified Asset Sale has the meaning specified in Section 2.05(b)(vi).

  • Permitted Asset Sale means any Asset Sale that is permitted under Section 6.8.

  • Excluded Asset Disposition means an Asset Disposition permitted pursuant to Section 7.05 other than Asset Dispositions pursuant to Sections 7.05(vii), (xiii), and (xv).

  • Retained Asset Sale Proceeds means that portion of Net Proceeds of a Prepayment Event pursuant to clause (a) of such definition not required to be applied to prepay the Loans pursuant to Section 2.11(c) due to the Disposition/Debt Percentage being less than 100%.

  • Permitted Asset Disposition means (i) any Asset Disposition permitted by Section 8.5 and (ii) any Excluded Asset Disposition.

  • Permitted Asset Dispositions means the following Asset Dispositions, provided, however, that at the time of such Asset Disposition, no Default or Event of Default exists or would result from such Asset Disposition:

  • Major Asset Disposition means the sale or other disposition in one transaction or a series of related transactions of 50% or more of the assets of the Company and its subsidiaries on a consolidated basis; and any specified percentage or portion of the assets of the Company shall be based on fair market value, as determined by a majority of the members of the Incumbent Board;

  • Prepayment Asset Sale means any Disposition by the Borrower or its Restricted Subsidiaries made pursuant to Section 6.07(h).

  • Asset Sales means any sale or disposition of assets of the Company or any of its Subsidiaries or series of related sales or dispositions of assets of the Company or any of its Subsidiaries (other than the sale of inventory in the ordinary course of business).

  • from an Asset Disposition means cash payments received therefrom (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to such properties or assets or received in any other noncash form), in each case net of:

  • Permitted Asset Swap means the substantially concurrent purchase and sale or exchange of Related Business Assets or a combination of Related Business Assets and Cash Equivalents between the Issuer or any of its Restricted Subsidiaries and another Person; provided that any Cash Equivalents received must be applied in accordance with Section 4.10 hereof.

  • Asset Sale Proceeds means, with respect to any Asset Sale,

  • Significant Asset Sale means each Asset Sale which generates Net Sale Proceeds of at least $10,000,000.

  • Collateral Disposition means (i) the sale, lease, transfer or other disposition of the Vessel by the Borrower to any Person (it being understood that a Permitted Chartering Arrangement is not a Collateral Disposition) or the sale of 100% of the Capital Stock of the Borrower or (ii) any Event of Loss of the Vessel.

  • Foreign Casualty Event shall have the meaning assigned to such term in Section 2.05(b)(viii).

  • Recovery Event any settlement of or payment in respect of any property or casualty insurance claim or any condemnation proceeding relating to any asset of any Group Member.

  • Foreign Subsidiary Total Assets means the total assets of the Foreign Subsidiaries, as determined on a consolidated basis in accordance with GAAP in good faith by a Responsible Officer.

  • Asset Disposition means any sale, lease, transfer or other disposition (or series of related sales, leases, transfers or dispositions) by the Company or any Restricted Subsidiary, including any disposition by means of a merger, consolidation or similar transaction (each referred to for the purposes of this definition as a “disposition”), of:

  • Final disposition means the burial, interment, cremation, removal from the state, or other disposition of a dead body or fetus.

  • Disposition Date shall have the meaning ascribed thereto in Subsection 5.1(d);

  • Divestiture Assets means all of Defendants’ rights, titles, and interests in and to:

  • Sale Assets is defined in Section 5.2(a)(ii).

  • Casualty Event means any event that gives rise to the receipt by the Parent Borrower or any Restricted Subsidiary of any insurance proceeds or condemnation awards in respect of any equipment, fixed assets or real property (including any improvements thereon) to replace or repair such equipment, fixed assets or real property.

  • Net Asset Sale Proceeds means, with respect to any Asset Sale, Cash payments (including any Cash received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) received from such Asset Sale, net of any bona fide direct costs incurred in connection with such Asset Sale, including (i) income taxes reasonably estimated to be actually payable within two years of the date of such Asset Sale as a result of any gain recognized in connection with such Asset Sale and (ii) payment of the outstanding principal amount of, premium or penalty, if any, and interest on any Indebtedness (other than the Loans) that is secured by a Lien on the stock or assets in question and that is required to be repaid under the terms thereof as a result of such Asset Sale.

  • Permitted Sale-Leaseback Transactions means any sale or transfer by the Company or any of its Restricted Subsidiaries of any Principal Property owned by the Company or any of its Restricted Subsidiaries with the intention of taking back a lease thereof; provided, however, that “Permitted Sale-Leaseback Transactions” shall not include any such transaction involving machinery and/or equipment (excluding any lease for a temporary period of not more than thirty-six months with the intent that the use of the subject machinery and/or equipment will be discontinued at or before the expiration of such period) relating to facilities (a) in full operation for more than 180 days as of the date of this Supplemental Indenture and (b) that are material to the business of the Company and its Subsidiaries, taken as a whole, to the extent that the aggregate Attributable Value of the machinery and/or equipment from time to time involved in such transactions (giving effect to payment in full under any such transaction and excluding the Applied Amounts, as defined in the following sentence), plus the amount of obligations and Indebtedness from time to time secured by Liens incurred under Section 6.1(18), exceeds the greater of (i) $1,000 million and (ii) 15.0% of Net Worth as determined at the time of, and immediately after giving effect to, the incurrence of such transactions based on the balance sheet for the end of the most recent quarter for which financial statements are available (such greater amount, the “Applicable Threshold”). For purposes of this definition, “Applied Amounts” means an amount (which may be conclusively determined by the Board of Directors of the Company) equal to the greater of (i) capitalized rent with respect to the applicable machinery and/or equipment and (ii) the fair value of the applicable machinery and/or equipment, that is applied within 180 days of the applicable transaction or transactions to repayment of the Notes or to the repayment of any indebtedness for borrowed money which, in accordance with GAAP, is classified as long-term debt and that is on parity with the Notes.