Disposed Assets definition
Disposed Assets means, where National Grid and/or any of its Subsidiaries sells, transfers, leases or otherwise disposes of or is dispossessed by any means (but excluding sales, transfers, leases, disposals or dispossessions which, when taken together with any related lease back or similar arrangements entered into in the ordinary course of business, have the result that Operating Profit directly attributable to any such undertaking, property or assets continues to accrue to National Grid or, as the case may be, such Subsidiary), otherwise than to a wholly-owned Subsidiary of National Grid or to National Grid, of the whole or any part (whether by a single transaction or by a number of transactions whether related or not) of its undertaking or (except in the ordinary course of business of National Grid or any such Subsidiary) property or assets, the undertaking, property or assets sold, transferred, leased or otherwise disposed of or of which it is so dispossessed;
Disposed Assets. ’ means, where the Issuer and/or any of its subsidiaries sells, transfers, leases or otherwise disposes of or is dispossessed by any means (but excluding sales, transfers, leases, disposals or dispossessions which, when taken together with any related lease back or similar arrangements entered into in the ordinary course of business, have the result that Operating Profit directly attributable to any such undertaking, property or assets continues to accrue to the Issuer or, as the case may be, such subsidiary), otherwise than to a wholly-owned subsidiary of the Issuer or to the Issuer, of the whole or any part (whether by a single transaction or by a number of transactions whether related or not) of its undertaking or (except in the ordinary course of business of the Issuer or any such subsidiary) property or assets, the undertaking, property or assets sold, transferred, leased or otherwise disposed of or of which it is so dispossessed;
Disposed Assets means, where the Company and/or any of its Subsidiaries sells, transfers, leases or otherwise disposes of or is dispossessed by any means (but excluding sales, transfers, leases, disposals or dispossessions which, when taken together with any related lease back or similar arrangements entered into in the ordinary course of business, have the result that the Operating Profit directly attributable to any such undertaking, property or assets continues to accrue to the Company or, as the case may be, such Subsidiary), otherwise than to a wholly-owned Subsidiary of the Company or to the Company, of the whole or any part (whether by a single transaction or by a number of transactions whether related or not) of its undertaking or (except in the ordinary course of business of the Company or any such Subsidiary) property or assets, the undertaking, property or assets sold, transferred, leased or otherwise disposed of or of which it is so dispossessed; “Negative Rating Event” shall be deemed to have occurred if either (a) the Company does not, either prior to or not later than 21 days after the relevant Restructuring Event, seek, and thereupon use all reasonable efforts to obtain, a rating of the relevant series of Securities or any other unsecured and unsubordinated debt of the Company having an initial maturity of five years or more (“Rateable Debt”) from a Rating Agency or (b) if the Company does so seek and use such efforts, it is unable, as a result of such Restructuring Event, to obtain such a rating of at least investment grade (BBB- or Baa3 or their respective equivalents for the time being), provided that a Negative Rating Event shall not be deemed to have occurred in respect of a particular Restructuring Event if the Rating Agency declining to assign a rating of at least investment grade (as described above) does not announce or publicly confirm that its declining to assign a rating of at least investment grade was the result, in whole or in part, of any event or circumstance comprised in or arising as a result of, or in respect of, the applicable Restructuring Event (whether or not the Restructuring Event shall have occurred at the time such investment grade rating is declined);
Examples of Disposed Assets in a sentence
Partial fulfillment of the Secured Obligations does not result in corresponding release of the Disposed Assets (as defined below) within the scope hereof.
Schedule 4(i)(ii) sets forth a complete list of all permits, licenses, franchises, authorities, consents, and approvals, as necessary under applicable Environmental Laws for operating the Relevant Assets and the Acquired Companies' businesses as they are presently operated (except with respect to the Disposed Assets), each of which is held in the name of the appropriate Seller Party as indicated on such schedule.
The aggregate of CF for all Wash-up Disposed Assets in any year is the “Additional Carry Forward”.
The Seller agrees to indemnify the Buyer against all Taxes of or with respect to the Relevant Assets and the Acquired Companies for any Pre-Closing Tax Period and the portion of any Straddle Period occurring on or before the Closing Date, and the Buyer Parties against all Taxes of or with respect to the Disposed Assets, and all Taxes arising directly as a result of the Reorganization Transactions.
The Buyer shall be responsible for Taxes of the Relevant Assets (other than the Disposed Assets) and the Acquired Companies related to the portion of any Straddle Period occurring after the Closing Date.
More Definitions of Disposed Assets
Disposed Assets means all of the assets owned, leased or licensed by or to the Borrower (wherever located) that are primarily used in, or primarily related to, the Business, except for the Excluded Assets. The Disposed Assets include all of the Borrower’s right, title and interest in and to the following that are used in, or related to, the Business:
Disposed Assets means, where any member of MRG sells, transfers, leases or otherwise disposes of or is dispossessed by any means (but excluding sales, transfers, leases, disposals or dispossessions which, when taken together with any related lease back or similar arrangements entered into in the ordinary course of business, have the result that EBITDA directly attributable to any such undertaking, property or assets continues to accrue to a wholly-owned member of the MRG), otherwise than to a wholly- owned member of MRG, of the whole or any part (whether by a single transaction or by a number of transactions whether related or not) of its undertaking or property or assets, the undertaking, property or assets sold, transferred, leased or otherwise disposed of or of which it is so dispossessed;
Disposed Assets has the meaning given such term in Article 2.4 (c).
Disposed Assets shall have the meaning assigned to such term in the --------------- definition of "Operating Cash Flow".
Disposed Assets means all assets of MCI Telecom other than cash and cash equivalents, equity investments, intercompany receivables (but only if the receivables in question are being transferred to the Company or any of its Subsidiaries), franchises, licenses, permits, patents, patent applications, copyrights, trademarks, trade names, goodwill, experimental or organizational expense, and other like intangibles (but excluding rights of way treated as assets).
Disposed Assets means, where the Guarantor and/or any of its Subsidiaries sells, transfers, leases or otherwise disposes of or is dispossessed of, by any means, otherwise than to a wholly-owned Subsidiary of the Guarantor or to the Guarantor, the whole or any part (whether by a single transaction or by a number of transactions whether related or not) of its undertaking or (except in the ordinary course of business of the Guarantor and its Subsidiaries taken as a whole) property or assets, the undertaking, property or assets sold, transferred, leased or otherwise disposed of or of which it is so dispossessed;
Disposed Assets has the meaning specified in Section 15.3;