Permitted Transfers definition

Permitted Transfers means (a) Dispositions of inventory in the ordinary course of business; (b) Dispositions of property to the Borrower or any Subsidiary; provided, that if the transferor of such property is a Loan Party then the transferee thereof must be a Loan Party; (c) Dispositions of accounts receivable in connection with the collection or compromise thereof; (d) licenses, sublicenses, leases or subleases granted to others not interfering in any material respect with the business of the Borrower and its Subsidiaries; and (e) the sale or disposition of Cash Equivalents for fair market value.
Permitted Transfers means (i) sales of Inventory in the normal course of business, (ii) non-exclusive licenses and similar arrangements for the use of Intellectual Property in the ordinary course of business and other licenses that could not result in a legal transfer of title of the licensed property but that may be exclusive in respects other than territory and that may be exclusive as to territory only as to discrete geographical areas outside of the United States, (iii) dispositions of worn-out, obsolete or surplus Equipment (other than Financed Equipment) at fair market value (as determined by Borrower in its reasonable discretion) in the ordinary course of business, (iv) dispositions expressly permitted under Section 7.7, 7.8 or 7.10, and (v) other Transfers of assets having a fair market value of not more than $250,000 in the aggregate in any fiscal year.
Permitted Transfers has the meaning set forth in Section 4.2.17(d).

Examples of Permitted Transfers in a sentence

  • We can accept Permitted Transfers in cash, as Re-Registration Transfers or a combination of both.


More Definitions of Permitted Transfers

Permitted Transfers means (A) dispositions of inventory sold, and Permitted Intellectual Property Licenses entered into, in each case, in the ordinary course of business, (B) dispositions of worn-out, obsolete or surplus property at fair market value in the ordinary course of business; (C) dispositions of accounts or payment intangibles (each as defined in the UCC) resulting from the compromise or settlement thereof in the ordinary course of business for less than the full amount thereof; (D) Permitted Investments; (E) other transfers of assets to any Person other than to a joint venture and which have a fair market value of not more than two hundred fifty thousand dollars ($250,000) in the aggregate in any twelve (12) month period, (F) a restructuring, recapitalization, sale or other transfer of all or substantially all of the equity securities or assets of iPass India Private Limited, including following commencement of any proceedings under Bankruptcy Law or otherwise with respect to any such Subsidiary, and (G) Permitted Liens and any dispositions pursuant to foreclosure of any Permitted Liens.
Permitted Transfers shall have the meaning set forth in Section 7.1.
Permitted Transfers means (a) Dispositions of inventory in the ordinary course of business; (b) Dispositions of assets that are no longer used or useful in the conduct of business of the Loan Parties and their Subsidiaries that are Disposed of in the ordinary course of business; (c) Dispositions of accounts receivable in connection with the collection or compromise thereof; (d) licenses, sublicenses, leases or subleases granted to others (including leases and subleases of real property and licenses of IP Rights), and terminations thereof not interfering in any material respect with the business of the Borrower and its Subsidiaries; (e) the sale or Disposition of cash and Cash Equivalents for fair market value; (f) Dispositions of obsolete or worn-out equipment, whether now owned or hereafter acquired, in the ordinary course of business; (g) the lapse, abandonment or cancellation of IP Rights no longer used or useful in the conduct of the business of the Borrower or any of its Subsidiaries; (h) Dispositions of property to the extent that (i) such property is exchanged for credit against the purchase price of similar replacement property or (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement property; (i) the surrender or waiver of contractual rights and settlement or waiver of contractual or litigation claims by the Borrower or any Subsidiary in the ordinary course of business; (j) the unwinding of any Swap Contract pursuant to its terms (provided, that, nothing in this clause (j) shall be interpreted as restricting any Disposition otherwise permitted pursuant to Section 8.05(e)); (k) Dispositions of Investments in joint ventures to the extent required by, or made pursuant to customary buy/sell arrangements between, the joint venture parties set forth in joint venture arrangements and similar binding arrangements; (l) the issuance or sale of shares of any Subsidiary’s Equity Interests to qualify directors if required by applicable Law; (m) Dispositions of property or assets subject to a Recovery Event; and (n) to the extent otherwise constituting a Disposition, Permitted Liens, Investments permitted under Section 8.02, actions permitted under Section 8.04, and Permitted Sale and Leaseback Transactions.
Permitted Transfers means (i) sales of Inventory in the OCB; (ii) licenses, joint ventures, collaboration agreements, strategic alliances and similar arrangements in the OCB providing for the licensing of Borrower’s technology or Intellectual Property; provided that such licenses do not result in a legal transfer of title of the licensed property and so long as after giving effect to each such license, Borrower retains sufficient rights to use or benefit from the subject Intellectual Property as to enable it to conduct its business in the OCB; (iii) dispositions of worn-out, obsolete or surplus Equipment in the OCB; (iv) use of cash in any manner not prohibited by this Agreement; (v) transfers constituting Permitted Investments; (vi) transfers constituting Permitted Liens; (vii) dispositions of Copyright rights in connection with publications in scientific journals; (viii) dispositions of any non-core assets acquired in connection with any Permitted Acquisition; (ix) dispositions of assets not related to ophthalmology (including, without limitation, dispositions of the Equity Interests of any Amylon Entity); (x) spin-outs or other disposition of programs that are pre-clinical; and (xi) other transfers of assets having a fair market value of not more than $250,000 in the aggregate in any fiscal year.
Permitted Transfers means, with respect to Holdings only, the collective reference to one or more transfers, via a sale and not by pledge or hypothecation, which, in the aggregate during the term of this Agreement, result in a transfer of legal or beneficial ownership or control of up to 20% of the direct or indirect ownership or voting interests in the Borrowers or any Guarantor to a Person, (a) that is purchasing such ownership interest in a public offering registered with the SEC, or (b) other than a Blocked Person, that is (i) a venture capital investor so long as Borrowers have given Lender at least fifteen (15) days prior written notice of the identity of the assignees, together with such information as Lender shall deem necessary to confirm that such assignee is not a Blocked Person or (ii) at the time of such transfer, already a holder of direct or indirect ownership or voting interests in the Borrowers.
Permitted Transfers means:
Permitted Transfers shall have the meaning set forth in Section 4.02(a).