Permitted Asset Dispositions definition
Permitted Asset Dispositions means the following Asset Dispositions, provided, however, that at the time of such Asset Disposition, no Default or Event of Default exists or would result from such Asset Disposition:
Permitted Asset Dispositions means the following Asset Dispositions:
Permitted Asset Dispositions has the meaning set forth in Section 8.16 of the Base Indenture.
Examples of Permitted Asset Dispositions in a sentence
Except as permitted under clause (i) of Permitted Asset Dispositions, no Credit Party will, or will permit any Subsidiary to, directly or indirectly, enter into any arrangement with any Person whereby, in a substantially contemporaneous transaction, any Credit Party or any Subsidiaries sells or transfers all or substantially all of its right, title and interest in an asset and, in connection therewith, acquires or leases back the right to use such asset.
More Definitions of Permitted Asset Dispositions
Permitted Asset Dispositions means the following Asset Dispositions: (a) dispositions of furniture, fixtures and equipment in the Ordinary Course of Business that the applicable Obligor or Subsidiary thereof determines in good faith is no longer used or useful in the business of such Obligor or Subsidiary; provided, however, that at the time of such Asset Disposition, no Default or Event of Default exists or would result from such Asset Disposition, and (b) dispositions approved in writing by the Purchaser.
Permitted Asset Dispositions means the following Asset Dispositions, provided, however, that at the time of such Asset Disposition, no Default or Event of Default exists or would result from such Asset Disposition: (a) dispositions of Inventory in the Ordinary Course of Business and not pursuant to any bulk sale, (b) dispositions of furniture, fixtures and equipment in the Ordinary Course of Business that the applicable Borrower or Subsidiary determines in good faith is no longer used or useful in the business of such Borrower and its Subsidiaries, and (c) dispositions approved by Agent.
Permitted Asset Dispositions means the following Asset Dispositions, provided, however, that at the time of such Asset Disposition, no Default or Event of Default exists or would result from such Asset Disposition: (a) dispositions of Inventory in the Ordinary Course of Business and not pursuant to any bulk sale, (b) dispositions of furniture, fixtures and equipment in the Ordinary Course of Business that the applicable Borrower or Subsidiary determines in good faith is no longer used or useful in the business of such Borrower and its Subsidiaries, and (c) the non-exclusive license of patent rights granted to third parties in the Ordinary Course of Business for fair value consideration that does not result in a legal transfer of title to the licensed property.
Permitted Asset Dispositions shall have the meaning attributed to such terms in Section 6.4(z) hereof.
Permitted Asset Dispositions means the proposed asset sales and intended use of proceeds from such asset sales as are described in Section 1 of the Disclosure Letter.
Permitted Asset Dispositions means the following Asset Dispositions: (a) dispositions of Inventory in the Ordinary Course of Business and not pursuant to any bulk sale, (b) dispositions of furniture, fixtures and equipment in the Ordinary Course of Business that the applicable Credit Party or Subsidiary determines in good faith is no longer used or useful in the business of such Credit Party or Subsidiary, (c) to the extent constituting an Asset Disposition, Permitted Investments, Permitted Liens, Permitted Licenses, and any mergers, consolidations, dispositions, dissolutions and liquidations expressly permitted pursuant to Section 5.6, (d) disposals of obsolete, worn out or surplus tangible personal property, (e) dispositions by any Credit Party to any Borrower so long as each Credit Party will remain Solvent after giving effect to the transfer, (f) the lapse, abandonment or disposition of Intellectual Property that is not material to the Credit Parties’ business and the cost of maintaining such Intellectual Property would outweigh the benefit to the Credit Parties of so maintaining it, (g) sales, transfers and dispositions of Accounts in connection with the compromise, settlement or collection thereof in the Ordinary Course of Business, (h) dispositions of Investments in joint ventures to the extent required by, or made pursuant to, customary buy/sell arrangements between any joint venture parties set forth in joint venture arrangements and similar binding arrangements, (i) sales, transfers and other dispositions pursuant to any Cash Convertible Note-Related Transactions (including any termination and settlement in connection with a Permitted Cash Convertible Note Refinancing pursuant to clause (c) of the definition of Cash Convertible Note-Related Transaction), (j) (i) voluntary cancellations, terminations or surrender by any Credit Party or Subsidiary of a Credit Party of any immaterial lease or license, (ii) the expiration of any option agreement in respect of real or personal property and (iii) the settlement of any litigation claims (to the extent such claims constitutes an asset), in each case, in the Ordinary Course of Business, (k) Asset Dispositions by (i) any Borrower to any other Borrower, (ii) any Guarantor to any other Guarantor, and (iii) any Subsidiary that is not a Credit Party to another Subsidiary that is not a Credit Party, (l) to the extent constituting an Asset Disposition, transactions between Credit Parties and Excluded Subsidiaries permitted pursuant to Secti...
Permitted Asset Dispositions means the following Asset Dispositions: (a) dispositions of Inventory in the Ordinary Course of Business and not pursuant to any bulk sale, (b) dispositions of furniture, fixtures and equipment in the Ordinary Course of Business that the applicable Borrower or Subsidiary determines in good faith is no longer used or useful in the business of such Borrower and its Subsidiaries, (c) dispositions approved by Agent, (d) licensing, on a non-exclusive basis, intellectual property rights in the ordinary course of business of the Borrowers or any Subsidiary, (e) leasing or subleasing assets in the ordinary course of business of the Borrower or any Subsidiary, (f) so long as no Event of Default has occurred and is continuing or would result therefrom, transfers of assets (i) from the Borrower or any Subsidiary to a Credit Party and (ii) from any Subsidiary that is not a Credit Party to any other Subsidiary, (g) any Asset Disposition occurring in accordance with the terms of the Tax Funding Agreement, (h) any involuntary loss, damage or destruction of property and any involuntary condemnation, seizure or taking, by exercise of the power of eminent domain or otherwise, or confiscation or requisition of use of property, (i) any involuntary loss, damage or destruction of property, (j) any involuntary condemnation, seizure or taking, by exercise of the power of eminent domain or otherwise, or confiscation or requisition of use of property, (k)(i) the lapse of Registered Intellectual Property of the Borrowers or any Subsidiary of the Borrowers to the extent not economically desirable in the conduct of their business or (ii) the abandonment of Intellectual Property rights in the ordinary course of their business so long as (in each case under clauses (i) and (ii)), (A) with respect to copyrights, such copyrights are not material revenue generating copyrights, and (B) such lapse is not materially adverse to the interests of the Lenders, and (l) sales and contributions of Receivables Assets by (i) each Exar Originator to Exar SPV and (ii) Exar SPV to the Exar Buyer pursuant to the Exar Facility.