DSD Disposition definition
DSD Disposition means the Transfer (whether through asset sale or sale of Shares or otherwise) of the DSD Business in one or more transactions so long as (i) Borrower’s financial and business projections and budget on a post-transaction basis as approved by Borrower’s board of directors demonstrate Borrower’s continued compliance with the financial covenants in Section 6.8 hereof, and Borrower shall be in pro forma compliance with Section 6.8 hereof after giving effect to such transaction, and (ii) no Event of Default has occurred, is continuing or would exist after giving effect to such transaction.
Examples of DSD Disposition in a sentence
In connection with the DSD Disposition the Bank shall (at the expense of the Borrower) take such actions as reasonably requested by the Borrower to release any Lien or interests it may have on the assets transferred in the DSD Business.