Permitted Liquidation definition

Permitted Liquidation means any transaction described in paragraph (b) of the definition of “Permitted Transaction”.

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Permitted Liquidation means the liquidation, winding up, or dissolution of any Subsidiary of Parent that is not a Loan Party, Oclaro China, or Oclaro Switzerland so long as (i) Parent provides Agent with not less than 10 days prior written notice of such liquidation, winding up, or dissolution, (ii) no Default or Event of Default has occurred and is continuing or would result therefrom, and (iii) on or before the consummation of any such liquidation, winding up, or dissolution, Parent delivers to Agent updated schedules to the Loan Documents reflecting such liquidation, winding up, or dissolution, provided, that in no event may any schedule be updated in a manner that would reflect or evidence a Default or an Event of Default.

Permitted Liquidation has the meaning given to it in Clause 27.7 (Winding-up).

Examples of Permitted Liquidation in a sentence

• Neither the Borrower nor any of its Subsidiaries ------------- shall make any Distribution (or become contractually committed to do so), except for the Permitted Liquidation (as defined in the Acquisition Agreement) and pursuant to any other plan of liquidation that has been approved in advance by the Lender in its sole discretion.

• Except for a Permitted Liquidation or as permitted by Paragraph 8.2(k)(iv) of this Section 8, each Obligor shall preserve and maintain, and cause each of its subsidiaries to preserve and maintain, its existence, legal structure, legal name, rights (charter and statutory), and all permits, licenses, approvals, privileges and franchises used or useful in the conduct of its business (other than any rejected in the Cases).

• Except for a Permitted Liquidation or as permitted by Paragraph 7.2(j)(iv) of this Section 7, each Obligor shall preserve and maintain, and cause each of its subsidiaries to preserve and maintain, its existence, legal structure, legal name, rights (charter and statutory), and all permits, licenses, approvals, privileges and franchises used or useful in the conduct of its business.

• Except for a Permitted Liquidation or as permitted by Paragraph 9.2(j)(iv) of this Section 9, each Obligor shall preserve and maintain, and cause each of its subsidiaries to preserve and maintain, its existence, legal structure, legal name, rights (charter and statutory), and all permits, licenses, approvals, privileges and franchises used or useful in the conduct of its business.

• Except pursuant to the Permitted Liquidation, this Agreement (or any part thereof) may not be assigned by any Seller without the prior written consent of ART and any such attempted assignment shall be null and void.

More Definitions of Permitted Liquidation

Permitted Liquidation means the liquidation of (a) any US Group Member into any other US Group Member or GLC, (b) any Intermediate Holding Company (other than Holdings Bermuda or International Management) into any other Intermediate Holding Company or GLC, (c) any UK Group Member other than the Borrower into another UK Group Member or the Borrower, or (d) any Other Restricted Person (other than Asia Pacific) into any Other Restricted Person; provided, however, that, in order to qualify as a Permitted Liquidation, each Restricted Person shall have complied with Clause 19.22 (Further Assurances) to the satisfaction of each Agent prior to the consummation of the liquidation and after giving effect thereto.

Permitted Liquidation means the liquidation of (a) any US Group Member into any other US Group Member or the Borrower, (b) any Intermediate Holding Company (other than Holdings Bermuda or International Management) into any other Intermediate Holding Company or the Borrower, (c) any UK Group Member other than the UK Borrower into another UK Group Member or the UK Borrower, or (d) any Other Restricted Person (other than Asia/Pacific) into any Other Restricted Person; provided, however, that, in order to qualify as a Permitted Liquidation, each Restricted Person shall have complied with Section 6.23(Further Assurances) to the satisfaction of each Agent prior to the consummation of the liquidation and after giving effect thereto.

Permitted Liquidation means the liquidation, winding up, or dissolution of any Subsidiary of Parent that is not a Loan Party, Oclaro China, or Oclaro Switzerland so long as (i) Parent provides Agent with not less than 10 days prior written notice of such liquidation, winding up, or dissolution, (ii) no Default or Event of Default has occurred and is continuing or would result therefrom, and (iii) on or before the consummation of any such liquidation, winding up, or dissolution, Parent delivers to Agent updated schedules to the Loan Documents reflecting such liquidation, winding up, or dissolution, provided, that in no event may any schedule be updated in a manner that would reflect or evidence a Default or an Event of Default. Confidential treatment is being requested for portions of this document. This copy of the document filed as an exhibit omits the confidential information subject to the confidentiality request. Omissions are designated by the symbol [***]. A complete version of this document has been filed separately with the Securities and Exchange Commission.

Permitted Liquidation means the dissolution, liquidation or winding up of Plainview to the extent that, as of the date of such dissolution, liquidation or winding up, Plainview has no material assets or any assets necessary or useful to the operation of the Credit Parties’ business.