Designated Asset definition
Examples of Designated Asset in a sentence
Enter into any Designated Asset Sale, if, after giving effect to such Designated Asset Sale, the Company shall own, directly or indirectly, Capital Stock of any Designated Subsidiary representing less than a majority of (a) the Capital Stock of such Designated Subsidiary, (b) the Capital Stock of such Designated Subsidiary entitled to vote generally in the election of directors or (c) the right to receive dividends or other distributions from such Designated Subsidiary.
Notice of any redemption upon any Equity Offering or Designated Asset Sale may be given prior to the completion thereof, and any such redemption or notice may, at their discretion, be subject to one or more conditions precedent, including, but not limited to, completion of the related Equity Offering or Designated Asset Sale.
If any Excess Designated Proceeds remain after consummation of a Designated Asset Sale Offer or any Excess Proceeds remain after consummation of an Asset Sale Offer, the Issuer may use those remaining Excess Designated Proceeds or Excess Proceeds, as applicable, for any purpose not otherwise prohibited by this Indenture.
Upon the commencement of a Designated Asset Sale Offer or an Asset Sale Offer, the Issuer will send, by first class mail, a notice to the Trustee and each of the Holders.
The offer price in any Designated Asset Sale Offer or Asset Sale Offer will be equal to 100% of the principal amount of the Notes and such Pari Passu Indebtedness plus accrued and unpaid interest on the Notes and such Pari Passu Indebtedness to, but excluding, the date of purchase and will be payable in cash.
The notice will contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Designated Asset Sale Offer or the Asset Sale Offer, as applicable.
Upon completion of each Designated Asset Sale Offer, the amount of Excess Designated Proceeds will be reset at zero, and upon completion of each Asset Sale Offer, the amount of Excess Proceeds will be reset at zero.
If the Purchase Date is on or after an interest record date and on or before the related interest payment date, any accrued and unpaid interest, will be paid to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest will be payable to Holders who tender Notes pursuant to the Designated Asset Sale Offer or the Asset Sale Offer, as applicable.
With respect to each proposed Transaction the subject of which is a Designated Asset which is eligible for Purchase Price-Incremental 2, no Disqualification Event shall have occurred and be continuing.
No later than three Business Days after the termination of the Offer Period (the "Purchase Date"), the Issuer will apply all Excess Designated Proceeds or Excess Proceeds, as applicable (the "Offer Amount"), to the purchase of Notes and such tendered Pari Passu Indebtedness (on a pro rata basis, if applicable) or, if less than the Offer Amount has been tendered, all Notes and Pari Passu Indebtedness tendered in response to the Designated Asset Sale Offer or the Asset Sale Offer, as applicable.