Liquidation Sale definition

Liquidation Sale means a so-called bulk sale, liquidation sale or “going out of business sale” conducted either by any Secured Party or a Grantor in respect to all or a substantial portion of such Grantor’s Collateral following the occurrence and during the continuance of an Event of Default under, and as defined in, either the First Priority Debt Documents or Second Priority Debt Documents.

Liquidation Sale means a transaction or a series of transactions as result of which the Company ceases to operate as a retail grocery chain, regardless of the structure of the transaction or the series of transactions, and, as used herein, the term "Restructuring" means a transaction or a series of transactions as a result of which the Company continues to operate as a retail grocery chain, regardless of the structure of the transaction or the series of transactions. The term "Liquidation/Sale" and the term "Restructuring" are mutually exclusive and the determination whether a particular transaction or a particular series of transactions constitutes a Liquidation/Sale or a Restructuring shall be made by the Board of Directors of the Company ("Board of Directors").

Liquidation Sale shall have the meaning specified in Section 2.2.l(d).

Examples of Liquidation Sale in a sentence

• Any determination with respect to whether a particular law is a Liquidation Sale Law shall be made de novo.

• The Governmental Unit will be entitled to assert any jurisdictional, procedural, or substantive arguments it wishes with respect to the requirements of its Liquidation Sale Laws or the lack of any preemption of such Liquidation Sale Laws by the Bankruptcy Code.

• The Governmental Unit shall be entitled to assert any jurisdictional, procedural, or substantive arguments it wishes with respect to the requirements of its Liquidation Sale Laws or the lack of any preemption of such Liquidation Sale Laws by the Bankruptcy Code.

• To the extent that there is a dispute arising from or relating to the Sales, the Interim Order, or the proposed Final Order, as applicable, the Consulting Agreement, or the Sale Guidelines, which dispute relates to any Liquidation Sale Laws (a “ Reserved Dispute”), the Bankruptcy Court shall retain exclusive jurisdiction to resolve the Reserved Dispute.

• If, at any time, a dispute arises between the Debtors and/or the Consultant and a Governmental Unit as to whether a particular law is a Liquidation Sale Law, and subject to any provisions contained in the Interim Order or the Final Order related to the Liquidation Sale Laws, then any party to that dispute may utilize the provisions of subparagraphs (iv) and (v) above by serving a notice to the other party and proceeding thereunder in accordance with those paragraphs.

More Definitions of Liquidation Sale

Liquidation Sale means any going out of business, liquidation or store closing sale of a particular Merchant conducted by a Liquidator with respect to (a) the Retail Inventory or (b) any sales or dispositions of Other Assets, in each case pursuant to a particular Liquidation Sales Agreement.

Liquidation Sale means the sale of the Target Canada Entities’ inventory, furniture, fixtures and equipment that was approved by the Court pursuant to an Order dated February 4, 2015;

Liquidation Sale has the meaning assigned to that term in Section 7.02(j).

Liquidation Sale means, following the occurrence and during the continuance of any ABL Default, any sale or liquidation of the ABL Priority Collateral consented to by the ABL Agent for purposes of permitting the Grantors to obtain funds to permanently repay the ABL Obligations in whole or in part.

Liquidation Sale means a so-called bulk sale, liquidation sale or "going out of business sale" conducted either by any Secured Party or a Grantor in respect to all or a substantial portion of such Grantor's Collateral following the occurrence and during the continuance of an Event of Default under, and as defined in, either the First Priority Debt Documents or Second Priority Debt Documents.

Liquidation Sale means a special sales event where predominately over production, end of line or other goods are sold at a discounted rate. (B/L 2020-125)

Liquidation Sale means any sale in which the seller represents, either directly or indirectly, that any or all of the goods, wares or merchandise offered for sale are all or part of the former stock in trade of a defunct business which was theretofore conducted on the premises on which the sale is held. Without limiting the generality of the foregoing, "liquidation sale" includes any sale in connection with which the seller represents that he is liquidating all or part of the stock in trade of a business previously conducted on the premises on which the sale is being held. (Ord. 17-59. Passed 3-9-59.)