Motion Date definition
Examples of Motion Date in a sentence
This Agreement and the transactions contemplated hereby shall have been approved and adopted by the requisite vote of the Board of Directors of the Purchaser at least fourteen (14) days prior to the Motion Date.
This condition shall be deemed waived if Purchaser does not inform Company of the failure of its due diligence analysis on a date which is fourteen (14) days prior to the Motion Date.
If Purchaser does not exercise its right to terminate this Agreement due to the failure of due diligence fourteen (14) days prior to the Motion Date then it shall have no further right to terminate based on its due diligence.
On a date which is seven (7) days prior to the Motion Date, the Company shall notify the Purchaser if it accepts the offer for the Designated Equipment, and upon such acceptance, the Company shall give notice to the Bankruptcy Court by filing a notice in the Bankruptcy Case setting forth the Designated Equipment to be purchased and the proposed purchase price therefor.
Within a reasonable time after entering into this Agreement and in advance of the Motion Date, the Company shall seek from the Bankruptcy Court an order (the "Overbid Procedures Order") providing for the procedure for the parties to follow in the event that the Company receives, in writing, any offer or proposal relating to the sale of the Assets other than the transactions contemplated by this Agreement (a "Competing Proposal").
The Borrower will file a motion (the "Motion"), in form and substance reasonably acceptable to the Administrative Agent, to establish bidding procedures (the "Bidding Procedures") for, and authorize the sale of all or substantially all of, the Borrower's and its Subsidiaries' assets pursuant to Section 363 of the Code by October 16, 2000 (the "Motion Date").
Any such contract rights shall be referred to herein as the "Assigned Contracts." Upon receipt of such notice, the Company shall make a timely motion to assume and assign the Assigned Contracts to the Purchaser on the Motion Date.
The date for which a hearing is set on the Motion is hereinafter referred to as the "Motion Date." On a date which is not less than ten (10) days prior to the Motion Date, the Purchaser shall notify the Company of any Designated Equipment that it desires to purchase and the purchase price that the Purchaser is willing to pay for such Designated Equipment.
The Company and the Purchaser shall agree on what constitutes the Work-in-Process Inventory to be purchased at the Closing and what constitutes the Raw Inventory (which shall be subject to the provisions of Section I(e) below, as well as the aggregate Inventory Purchase Price, not less than seven (7) days prior to the Motion Date.