Permitted Dispositions definition
Permitted Dispositions means each of the following:
Permitted Dispositions means:
Permitted Dispositions means, as to the Borrower or any Guarantor, any of the following:
Examples of Permitted Dispositions in a sentence
Each Loan Party will maintain and preserve all of its assets that are necessary or useful in the proper conduct of its business in good working order and condition, ordinary wear, tear, casualty, and condemnation and Permitted Dispositions excepted.
No Loan Party will (nor will it permit any of its Subsidiaries to) convey, sell, lease, license, assign, transfer, or otherwise dispose of any of its assets (including by an allocation of assets among newly divided limited liability companies pursuant to a “plan of division”), except for Permitted Dispositions and transactions permitted under Section 6.3.
More Definitions of Permitted Dispositions
Permitted Dispositions means any of the following:
Permitted Dispositions means (a) sales or other dispositions of Equipment that is substantially worn, damaged, or obsolete in the ordinary course of business, (b) sales of Inventory to buyers in the ordinary course of business, (c) the use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents, and (d) the licensing, on a non-exclusive basis, of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business.
Permitted Dispositions means (a) sales or other dispositions of Equipment that is substantially worn, damaged, or obsolete in the ordinary course of business, (b) sales of Inventory to buyers in the ordinary course of business (which, in the case of Borrowers, shall include seismic data exchanges consistent with past practice), (c) the use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents, and (d) the licensing, on a non-exclusive basis, of seismic data, patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business.
Permitted Dispositions means (a) sales or other dispositions by Administrative Borrower or its Subsidiaries of Equipment that is substantially worn, damaged, or obsolete in the ordinary course of business, as determined by Administrative Borrower, (b) the use or transfer of money or Cash Equivalents by Administrative Borrower or its Subsidiaries in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents, (c) the licensing by Administrative Borrower or its Subsidiaries, on a non-exclusive basis, of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business, (d) sales or dispositions of any Excluded Asset, (e) sales or dispositions of Surplus Real Property Collateral, so long as the Net Proceeds received for such Surplus Real Property Collateral are not less than 55% of the Fair Market Valuation for such Surplus Real Property Collateral, as set forth on Schedule S-2, and the Net Proceeds from such sale are delivered to Agent to be applied to the outstanding Obligations in accordance with the provisions of this Agreement, (f) leases and licenses of self-storage units to customers in the ordinary course of business, (g) the granting of billboard and cell tower leases on any Real Property, (h) the granting of space leases in the ordinary course of business that do not constitute Major Space Leases, (i) dispositions required in connection with condemnations or takings, or dispositions in lieu thereof, where the just compensation paid on account thereof does not exceed $250,000, (j) sales of investment assets by the Insurance Subsidiaries, including, without limitation, bonds, real estate, partnership interests, and security interest in Real Property, (k) so long as no Event of Default has occurred and is continuing, dispositions of box-trucks, vans and pickup trucks in the ordinary course of Administrative Borrower's and U-Haul's fleet rotation program, so long as the book value of box-trucks and pickup trucks subject to Agent's Liens does not at any time decrease by more than $50,000,000 in the aggregate from the book value of such box-trucks and pickup trucks subject to Agent's Liens, as of the Closing Date set forth on Schedule 3.1(ee) (excluding decreases solely from depreciation charges on such trucks), (l) the granting of Permitted Easements, (m) so long as no Default has occurred and is then continuing, the sale in the ordinary course of business of Vehicles acquired within the previous 130 days ...
Permitted Dispositions means (a) the sale, transfer, lease or other disposition of assets in the Trust Estate, in the ordinary course of business and of inventory held in the ordinary course of business and (b) other sales, transfers, leases or other dispositions of assets in the Trust Estate, including entering into Space Leases; provided that, in each case, all applicable provisions of the Indenture Documents are complied with.
Permitted Dispositions means (a) sales or other dispositions of Equipment that is substantially worn, damaged, or obsolete in the ordinary course of business, (b) sales of Inventory to buyers in the ordinary course of business, (c) the use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of the Agreement or the other Loan Documents, (d) the licensing of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business, (e) the sale or issuance by any Subsidiary of Parent of Stock to Parent or any other Subsidiary of Parent, (f) the sale or discounting, without recourse, of Accounts in the ordinary course of business and upon prior notice to Agent, in connection with the compromise or collection thereof, (g) the transfer of assets by any Subsidiary of Parent to any other wholly owned Subsidiary of Parent, to the extent that such Subsidiary has guarantied the Obligations, (h) the sublease of real or personal property by Parent or its Subsidiaries on commercially reasonably terms to the extent that such Person determines that such property is no longer necessary in the conduct of the business of the Loan Parties, (i) the sale, transfer or other disposition of patents, trademarks, copyrights and know-how not used in connection with any Material Videogame Franchise by Parent or its Subsidiaries which, in the reasonable judgment of such Person, are determined to be non-material to the conduct of its business, (j) so long as no Event of Default has occurred and is continuing or would result from such disposition, the dispositions of the Persons and/or assets set forth on Schedule P-2, provided, that, upon the effective date of any such disposition, (i) all of the Accounts and Inventory included in such disposition shall automatically be excluded from the Borrowing Base and (ii) all cash or Cash Equivalents included in such disposition shall automatically be excluded from Qualified Cash, and (k) so long as (i) immediately before and after such sale, no Event of Default shall have occurred and be continuing, and (ii) the amount of Liquidity immediately after such sale is not less than $40,000,000, the sale of other assets by Parent or its Subsidiaries having a fair market value not to exceed $50,000,000 in any year and $200,000,000 in the aggregate during the term of this Agreement.
Permitted Dispositions means (a) Dispositions of Inventory to buyers in the ordinary course of business, (b) Dispositions of obsolete or worn-out equipment in the ordinary course of business, (c) Dispositions of tangible assets for cash in an aggregate amount not less than 75% of the fair market value of such property or assets, provided that the Net Cash Proceeds of such Dispositions in the case of clauses (b) and (c) do not exceed $500,000 in the aggregate in any twelve-month period, (d) Dispositions of assets for cash in an aggregate amount not less than the fair market value of such assets so long as (i) no Default or Event of Default shall have occurred and be continuing or would result from the consummation of the proposed Disposition, and (ii) the amount of proceeds received in respect of all Dispositions under this clause (d) (including the proposed Disposition) is less than $3,000,000 in the aggregate during the term of this Agreement, (e) Dispositions of assets acquired pursuant to a Permitted Acquisition that was consummated no longer than 12 months before the date of the proposed Disposition (the “Subject Permitted Acquisition”) so long as (i) no Default or Event of Default shall have occurred and be continuing or would result from the consummation of the proposed Disposition, (ii) the consideration received for such assets is at least equal to the fair market value thereof, and (iii) the assets to be so disposed are readily identifiable as assets acquired pursuant to the Subject Permitted Acquisition (any Disposition which meets the foregoing criteria, a “Permitted Acquisition Disposition”), (f) the use or transfer of money or Cash Equivalents by the Parent and its Subsidiaries in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents, (g) the licensing by the Parent and its Subsidiaries, on a non-exclusive basis, of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business, (h) the granting of leases or subleases to other Persons not materially interfering with the conduct of business of any of the Loan Parties, (i) the sale or issuance of (i) the Capital Stock of any Subsidiary of the Parent to the Borrower (so long as such sale or issuance is made subject to Collateral Agent’s Liens (if any) on such Capital Stock), (ii) the Borrower’s Capital Stock to the Parent (so long as such sale or issuance is made subject to Collateral Agent’s Liens on such Capital Stock), or (iii) the Capi...