Permitted Reinvestment means, with respect to the Net Cash Proceeds of any Sale or Property Loss Event, to acquire (or make Capital Expenditures to finance the acquisition, repair, improvement or construction of), to the extent otherwise permitted hereunder, property useful in the business of the Borrower or any of its Subsidiaries (including through a Permitted Acquisition) or, if such Property Loss Event involves loss or damage to property, to repair such loss or damage.
Permitted Reinvestment means (a) an acquisition permitted under Section 7.04(e), (b) Capital Expenditures or (c) with respect to any Recovery Event, the repair, restoration or replacement of the affected property.
Permitted Reinvestment means to apply the Net Cash Proceeds actually received with respect to a Reinvestment Event (i) to restore, rebuild, repair, construct, improve, replace or otherwise acquire assets useful in the Borrower’s or a Restricted Subsidiary’s business or (ii) to consummate a Permitted Acquisition.
Examples of Permitted Reinvestment in a sentence
A Change of Control resulting from an Asset Sale of the Business shall be deemed to have occurred (1) under subsection (b)(i) above on the earlier of (x) the date on which such Prohibited Use occurs and (y) the date on which the Corporation or any subsidiary or Affiliate thereof has entered into an agreement or commitment to undertake a Prohibited Use and (2) under subsection (b)(ii) above, after 5:00 p.m., New York City time on the last calendar day of the Permitted Reinvestment Period.
Notwithstanding the foregoing, a Change of Control will not be deemed to occur from any Option Exercise if within 360 days after the receipt of any Net Cash Proceeds from such Option Exercise, the Net Cash Proceeds are used to make Permitted Reinvestment.
For the avoidance of doubt, following the occurrence of a Prohibited Use or a Permitted Reinvestment, the Corporation shall remain subject to the restrictions and prohibitions set out elsewhere in this Statement of Designation and shall not be permitted to take any of the actions prohibited by the foregoing sentence to the extent so prohibited by the other terms of this Statement of Designation.
More Definitions of Permitted Reinvestment
Permitted Reinvestment means an Investment in a Finance Asset or any other Investment approved by the Required Lenders.
Permitted Reinvestment means, with respect to the Net Cash Proceeds of any Disposition or Property Loss Event, to acquire (or make Capital Expenditures to finance the acquisition, repair, improvement or construction of), to the extent otherwise permitted hereunder, Property useful in the business of the Borrower or any of its Subsidiaries (including through a Permitted Acquisition) or, if such Property Loss Event involves loss or damage to Property, to repair such loss or damage.
Permitted Reinvestment with respect to any Recovery Event, shall mean (i) the acquisition by any Loan Party of replacement assets useful in the Permitted Business and that shall (after giving effect to any time periods provided for that type of asset in Section 5.10) constitute Collateral, (ii) reinvesting in the Permitted Business in assets and that shall (after giving effect to any time periods provided for that type of asset in Section 5.10) constitute Collateral, and/or (iii) the repair of the assets that were damaged or destroyed as a result of the applicable Recovery Event; provided, however, that any such replacement or reinvestment assets may take the form of real property located in the State of New York (which would otherwise be an Excluded Asset) if such replacement or reinvestment asset is directly owned by a Subsidiary Guarantor.
Permitted Reinvestment means capital assets that will become a part of the Restricted Persons' Hydrocarbon Inventory marketing, gathering, transmission, processing, treating and pipeline operations, excluding Maintenance Capital Expenditures, and well hook up costs;
Permitted Reinvestment means, with respect to the Net Cash Proceeds of any Sale or Property Loss Event, the acquisition, repair, replacement, improvement or construction of, to the extent otherwise permitted hereunder, property or other assets useful in the business of the U.S. Borrower or any of its Subsidiaries (including through any Acquisition or other Investment permitted by this Agreement, Capital Expenditure or the acquisition of any new programs) or, if such Property Loss Event involves loss or damage to property, to repair such loss or damage. “Permitted Seller Debt” means unsecured Indebtedness (other than “earn-outs” and similar deferred consideration) of the U.S. Borrower or any of its Restricted Subsidiaries incurred in connection with, or as part of the consideration payable in respect of, any Permitted Acquisition or other Acquisition permitted hereunder. “Person” means any individual, partnership, corporation (including a business trust and a public benefit corporation), joint stock company, estate, association, firm, enterprise, trust, limited liability company, unincorporated association, joint venture and any other entity or Governmental Authority. “Pro Forma Basis” and “Pro Forma Effect” means, with respect to any determination for any period and any Pro Forma Transaction, that such determination shall be made by giving pro forma effect to such Pro Forma Transaction in the manner contemplated by Section 1.3(b) and the definition of LTM EBITDA. “Pro Forma Transaction” means (a) (i) any Permitted Acquisition or any other Acquisition that is permitted hereunder, or any other Permitted Investment that results in a Person becoming a Subsidiary, (ii) any sale, transfer or other disposition of all or substantially all of the assets or Stock of any Restricted Subsidiary or of any business unit, division, brand, program or product line or line of business of the U.S. Borrower and its Restricted Subsidiaries, (iii) the designation of any Subsidiary as a Restricted Subsidiary or as an Unrestricted Subsidiary and (iv) any other transaction where the consummation thereof, or the determination of whether such transaction is permitted to be consummated under this Agreement, requires that a financial ratio or test be calculated on a Pro Forma Basis or after giving Pro Forma Effect to such transaction, in each case, together with each other transaction relating or incidental thereto and consummated in connection therewith and including the incurrence, assumption or repayment ...
Permitted Reinvestment means, with respect to any transaction resulting in Net Asset Sale Proceeds, the acquisition by the Company or a Subsidiary of a business or other assets permitted by Section 6.9.5, or of other assets permitted by Section 6.9, that occurs on the date of, or within 270 days after, such transaction.
Permitted Reinvestment means an investment in (a) one or more Permitted Acquisitions, (b) properties, (c) capital expenditures and (d) acquisitions of long lived assets, that in each of clauses (a), (b), (c) and (d), are used or useful in a Similar Business.