PPC Assets definition

PPC Assets means the assets used in, held for use in connection with or necessary for the conduct of, or otherwise material to the business or operations of, the PPC Business, including, without limitation, those assets being transferred to PPC pursuant to the Distribution Agreement.
Sample 1

Examples of PPC Assets in a sentence

  • PPC has good title to, a valid leasehold interest in, or a legal right to use, the material tangible personal property of every kind and character used in, necessary for or relating to the business of PPC (collectively, the "PPC Assets").

  • Except as set forth in Section 5(e) of the Disclosure Schedule, none of the PPC Assets are subject to any Security Interests that shall survive Closing.

  • The PPC Assets constitute all the assets, properties and rights related to or required for the conduct of the PPC Business except for the services to be provided pursuant to the Transition Services Agreement.

  • Pennzoil and PPC shall, and shall cause their Subsidiaries to, maintain with financially responsible insurance companies insurance for the PPC Business and the PPC Assets in such amounts and against such risks and losses as are customary for companies engaged in their respective businesses.

  • Each of PPC and Pennzoil and their respective Subsidiaries (as the case may be) has maintained all the PPC Assets in working order and operating condition, subject only to ordinary wear and tear, and all PPC Assets are adequate and suitable in all material respects for the purposes for which they are presently being used.

  • Except as set forth in Section 4.24 of the PPC Disclosure Schedule, after giving effect to the transactions described in or contemplated by the Distribution Agreement, PPC, together with its Subsidiaries, will own all PPC Assets.

Related to PPC Assets

  • Acquired Assets has the meaning set forth in Section 2.1.

  • Purchased Assets has the meaning set forth in Section 2.1.

  • Transferred Assets means the assets, rights and properties of the Sellers that the Purchasers shall acquire as of the Closing.

  • Operating Assets means all merchandise inventories, furniture, fixtures and equipment (including all transportation and warehousing equipment but excluding office equipment and data processing equipment) owned or leased pursuant to Capital Leases by the Company or a Restricted Subsidiary.

  • Business Assets means all tangible and intangible property and assets owned (either directly or indirectly), leased, licensed, loaned, operated or used, including all real property, fixed assets, facilities, equipment, inventories and accounts receivable, by the Corporation and the Subsidiaries in connection with the Business;

  • Included Assets has the meaning in Section 5.1(d)(ii)(A).

  • Related Business Assets means assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary.

  • Sale Assets is defined in Section 5.2(a)(ii).

  • Gross Assets means the total of fixed assets and current assets;

  • Subject Assets is defined in Section 2.2(c).

  • Excluded Assets has the meaning set forth in Section 2.2.

  • Specified Assets the following property and assets of such Grantor:

  • Acquisition Assets With respect to an Acquisition, the aggregate net assets as of the effective date of such Acquisition of all Acquired Funds.

  • Project Assets means all physical and other assets relating to and forming part of the Site including:

  • IP Assets means all Intellectual Property owned or used by or purported to be owned or used by the Group Companies.

  • Contributed Assets shall have the meaning as set forth in Section 2.2.

  • Portfolio Assets means the portion of the net assets of the Fund managed by the Sub-Adviser pursuant to the following investment strategy as agreed to by the Adviser and the Sub-Adviser in a separately negotiated investment mandate: Emerging Markets (each a “Strategy”).

  • Fixed Assets means Equipment and Real Estate.

  • Combined Assets means the sum of Fund Assets and Other Assets; and

  • Program Assets means any assets, goods or property (real, tangible or intangible) purchased or financed in whole or in part (directly or indirectly) by MCC Funding.

  • surplus assets means the assets after payment of the debts and liabilities remaining on a winding-up of the incorporated association and the costs, charges and expenses of the winding-up;

  • Retained Assets has the meaning set forth in Section 2.2.

  • Qualified Assets means any of the following assets: (i) interests, rights, options, warrants or convertible or exchangeable securities of the Partnership; (ii) Debt issued by the Partnership or any Subsidiary thereof in connection with the incurrence of Funding Debt; (iii) equity interests in Qualified REIT Subsidiaries and limited liability companies (or other entities disregarded from their sole owner for U.S. federal income tax purposes, including wholly owned grantor trusts) whose assets consist solely of Qualified Assets; (iv) up to a one percent (1%) equity interest in any partnership or limited liability company at least ninety-nine percent (99%) of the equity of which is owned, directly or indirectly, by the Partnership; (v) cash held for payment of administrative expenses or pending distribution to security holders of the General Partner or any wholly owned Subsidiary thereof or pending contribution to the Partnership; and (vi) other tangible and intangible assets that, taken as a whole, are de minimis in relation to the net assets of the Partnership and its Subsidiaries.

  • Related Assets Any assets held by a Trust the return of which is linked to one or more Underlying Securities and which, if applicable, shall be described in the related Supplement or a schedule thereto.

  • Client Assets means assets which a bank has undertaken to hold for a client (whether or not on trust, and whether or not the undertaking has been complied with);

  • Midstream Assets means (i) assets used primarily for gathering, transmission, storage, processing or treatment of natural gas, natural gas liquids or other hydrocarbons or carbon dioxide and (ii) equity interests of any Person that has no substantial assets other than assets referred to in clause (i).