Sale of Business means the sale or other disposition of (x) more than 50% of the shares or other equity interests of the Company or the Company’s direct or indirect parent to a non-affiliated party, or (y) more than 50% of the businesses or assets that, as of the most recent year end, generated more than 50% of the Company’s EBITDA (as determined in good faith by RGHL’s CEO, based on the Company’s regularly prepared financial statements), provided that a disposition as a result of lender foreclosure on assets or pursuant to a bankruptcy or judicially administered reorganization shall not constitute a Sale of Business. Employee’s position shall not be materially reduced by reason of the Company being smaller or having less operations as a result of the Sale of Business so long as Employee’s duties and responsibilities are generally consistent with Employee’s duties and responsibilities prior to the Sale of Business.
Sale of Business means any (i) merger, consolidation or reorganization of the Employer in which (A) the Employer does not survive or (B) the Employer survives with a resulting change in beneficial ownership of the Employer of more than 50% of the voting shares of the Employer, (ii) sale of more than 50% of the beneficial ownership of the voting shares of the Employer to any person or group of persons acting in concert, or (iii) transfer or sale of more than 50% of the total market value of the assets of the Employer as reflected in the most recent published balance sheet of the Employer.
Sale of Business the sale of business, which forms an integral part of this PPP Agreement, in terms of which inter alia the Sale Assets and Stock are acquired by the Private Party;
Examples of Sale of Business in a sentence
Failure of the Company to obtain such agreement prior to the effective date of such Sale of Business shall be a breach of this Agreement constituting “Good Reason” hereunder, except that for purposes of implementing the foregoing the date upon which such Sale of Business becomes effective shall be deemed the Termination Date.
Failure of the Company to obtain such agreement prior to the effective date of such Sale of Business shall be a material breach of this Agreement.
Failure of Orion to obtain such agreement prior to the effective date of such Sale of Business shall be a breach of this Agreement constituting “Good Reason” hereunder, except that for purposes of implementing the foregoing the date upon which such Sale of Business becomes effective shall be the Termination Date.
Failure of the Company to obtain such agreement prior to the effective date of such Sale of Business shall be a breach of this Agreement constituting “Good Reason” hereunder, except that for purposes of implementing the foregoing, the date upon which such Sale of Business becomes effective shall be deemed the Termination Date.
Failure of the Company to obtain such agreement prior to the effective date of such Sale of Business shall be a breach of this Agreement constituting "Good Reason" hereunder, except that for purposes of implementing the foregoing, the date upon which such Sale of Business becomes effective shall be deemed the Termination Date.
More Definitions of Sale of Business
Sale of Business. A Transfer of the type described in any of clauses (iv), (v) or (vi) of Section 24.1.1 below, unless such Transfer involves only the stock, memberships, equity interests and/or assets of Lessee and Lessee has no substantial assets other than (a) its interest in the Leased Property and any Capital Additions pursuant to this Lease, (b) the business and operations on the Leased Property and any Capital Additions and (c) Lessee’s Personal Property. SEC: Securities and Exchange Commission.
Sale of Business the sale of the Business, which forms an integral part of this PPP Agreement, in terms of which, inter alia, the Private Party sells and SANParks purchases the Business; 2.1.80 “Sale of Business Agreement” - the written agreement entered into by the Private Party and SANParks for the Sale of Business; 2.1.81 “SANParks” - South African National Parks, a juristic person established in terms of section 5 of the National Parks Act, No. 57 of 1976 and continuing to exist as such in terms of the provisions of section 54 of the Protected Areas Act; 2.1.82 “SANParks Default” shall have the meaning ascribed to it Clause 40.1; 2.1.83 “SANParks Employees” - persons employed or contracted to SANParks and whose employment is regulated in terms of the Public Services Xxx, 0000; 2.1.84 “Schedules” - the schedules to this PPP Agreement, as amended, replaced and varied from time to time; 2.1.85 “Shareholders” - the holders of the Equity from time to time; 2.1.86 “Signature Date” - the date of signature of this PPP Agreement by the last signing Party; 2.1.87 “Skills Development Spend” - has the meaning as set out in Schedule 5; 2.1.88 “South Africa” - the Republic of South Africa; 2.1.89 “State” - the Government of South Africa, acting directly or through its lawfully designated representatives; 2.1.90 “Subcontractors” - any subcontractor of the Private Party who has contracted directly with the Private Party in respect of any of the Project Deliverables; 2.1.91 “Suretyship” the deed of suretyship which shall be executed by each of the Shareholders in favour of SANParks as more specifically set out in Schedule 23; 2.1.92 “Termination Amount” - the amount payable by a Party on termination of this PPP Agreement in terms of this PPP Agreement; 2.1.93 “Termination Date” - any date of termination of this PPP Agreement, in accordance with its terms; 2.1.94 “Treasury Regulations” - the Treasury Regulations issued under the PFMA that apply to SANParks and/or this PPP Agreement;
Sale of Business means the transfer of shares or other instruments of ownership issued by a selected institution, or the assets, rights or liabilities of a selected institution under resolution, to a purchaser that is not a bridge institution as defined in Section 55;
Sale of Business means the sale of all or substantially all of the Stock of, or all or substantially all of the assets of, any Person or the sale of any division, line of business or quick service restaurant location.
Sale of Business the sale of the Business, which forms an integral part of this PPP Agreement, in terms of which, inter alia, the Private Party sells and SANParks purchases the Business; 2.1.80 “Sale of Business Agreement” - the written agreement entered into by the Private Party and SANParks for the Sale of Business; 2.1.81 “SANParks” - South African National Parks, a juristic person established in terms of section 5 of the National Parks Act, No. 57 of 1976 and continuing to exist as such in terms of the provisions of section 54 of the Protected Areas Act; 2.1.82 “SANParks Default” shall have the meaning ascribed to it Clause 40.1; 2.1.83 “SANParks Employees” - persons employed or contracted to SANParks and whose employment is regulated in terms of the Public Services Xxx, 0000; 2.1.84 “Schedules” - the schedules to this PPP Agreement, as amended, replaced and varied from time to time; 2.1.85 “Shareholders” - the holders of the Equity from time to time;
Sale of Business means any (i) merger, consolidation or reorganization of the Employer’s parent or Western Sierra Bancorp (“Parent”) in which (A) the Parent does not survive or (B) the Parent survives with a resulting change in beneficial ownership of the Parent of more than 50% of the voting shares of the Parent, (ii) sale of more than 50% of the beneficial ownership of the voting shares of the Parent to any person or group of persons acting in concert, or (iii) transfer or sale of more than 50% of the total market value of the assets of the Parent as reflected in the most recent published balance sheet of the Parent to another corporation that is not a wholly-owned subsidiary of the Parent. Notwithstanding anything to the contrary, the merger of Employer with the Parent or any subsidiary of the Parent shall not be deemed a “Sale of Business.”
Sale of Business means the sale or other disposition of businesses or assets that, as of the most recent year end, generated more than 50% of the Company’s EBITDA (as determined in good faith by RGHL’s CEO, based on the Company’s regularly prepared financial statements), provided that a disposition as a result of lender foreclosure on assets or pursuant to a bankruptcy or judicially administered reorganization shall not constitute a Sale of Business.