Division Sale definition

Division Sale means the sale, transfer, or other disposition to a third party not affiliated with the Company of substantially all of the assets or all of the capital stock of a business unit of the Company, but excluding a Change in Control.

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Division Sale has the meaning set forth in Section 5.5 hereof.

Division Sale means the sale, closure, transfer or other disposition of all or substantially all of the assets of any operating division, business or site of the Borrower.

Examples of Division Sale in a sentence

The Break-up Fee shall be due upon the closing of Another Transaction or a Division Sale.
The Company shall notify the Purchasers Representative in writing immediately if after the date hereof any Person (other than the Purchasers and other Persons acceptable to the Purchasers Representative) makes any proposal, offer, inquiry or makes or has any contact in respect to Another Transaction or a Division Sale.
The Borrowing Agent has provided to the Agent true and complete copies of all bid letters and letters of intent (from all bidders) relating to the Fuels Division Sale, except that the name of the bidder and other identifying information may be redacted.
Another Transaction shall be deemed to include the sale of either the Company's Portland operations or the Company's Florida operations (a "Division Sale") even if one Person or group of related Persons does not purchase both operations.
Agent and Lenders hereby acknowledge that upon the consummation of the Huffy Sports Division Sale the requirements of Section 2 of Amendment No. 12 shall be satisfied.
If Purchaser has not delivered a Division Exercise Notice to Seller within such 30 days, then the Division Option shall terminate and Seller shall be permitted to sell or offer to sell the GBB Division or GBB Divisions identified in the Division Sale Notice to any other person or persons at its discretion.
Anything to the contrary in Section 2.06(b)(ii) of the Credit Agreement notwithstanding, the Borrower may use up to $110,000 of the Net Cash Proceeds from the Division Sale to repay outstanding Capitalized Leases (the amount of such repayment being the "Capitalized Leases Amount").
If no qualifying termination from the Buyer under Section 2 occurs on or before the Division Sale Equity Deadline, any unvested portion of the Employee’s Equity Awards automatically will be forfeited without having vested.
The consummation of the Shoe Division Sale as reasonably determined by the Administrative Agent.
If there is a "Change of Control" or "Division Sale" (both defined below) and within one year after such "Change of Control" or "Divison Sale", the Employee's employment is terminated and such termination is not based on death or disability as provided in Sections 5.1 or 5.2, above, or on Due Cause as provided in Section 5.3 above, the Employee will be entitled to receive Severance Compensation and all other benefits as defined in paragraph 5.4 above.

More Definitions of Division Sale

Division Sale means a sale or assignment or other disposition of all or substantially all of the assets of the Integrated Systems Division to a third-party.

Division Sale means a transaction in which a buyer (the “Buyer”) purchases or otherwise acquires (i) the Intevac division in which the Employee works (the “Division”), or (ii) substantially all of the assets of the Division, and, in either event, following such purchase or acquisition, Intevac continues as a going concern (Intevac’s continuation primarily for the purpose of winding down or dissolving the Company will not be deemed to be continuation as a going concern for this purpose). The term “Buyer” as used in this Agreement will be interpreted to include any subsidiary, parent, affiliate or successor thereto, if applicable.