Examples of Permitted Reorganisation in a sentence
In this Condition 7, "Permitted Reorganisation" means the conversion of the Issuer from a State Owned Enterprise of which the Norwegian State is the sole owner, and to which the King of Norway has decided that Act No. 71 of 30 August 1991 of Norway relating to State Owned Enterprises (as amended) shall apply, to a limited company (AS or ASA) to which the Norwegian Limited Companies Acts of 13 June 1997 no.
For the purposes of this provision: Permitted Reorganisation means, in respect of the Issuer, an amalgamation, merger, spin-off, reconstruction, reorganisation, restructuring, transfer or contribution of assets or other similar transaction (a relevant transaction) whilst solvent and whereby: (a) to the extent that the Issuer is not a surviving entity, the resulting company is a Successor in Business of the Issuer.