Sales Motion definition
Examples of Sales Motion in a sentence
Upon obtaining a hearing date, Seller shall give notice of the Sales Motion and the hearing thereon as and when required by applicable provisions of the Bankruptcy Laws and orders of the Bankruptcy Court.
This Agreement, the Sales Motion and the transactions contemplated by this Agreement shall be subject to the Bidding Procedures Order.
Promptly after the date hereof, Seller shall ------------ file a motion with the Bankruptcy Court (the "Sales Motion") seeking, among other things, the entry of an order of the Bankruptcy Court that authorizes the sale of the Purchased Assets and the other transactions contemplated by this Agreement (the "Bankruptcy Court Order").
Seller shall promptly deliver to Acquiror a copy of such notice and shall provide Acquiror with copies of any and all objections or other Bankruptcy Pleadings relating to the Sales Motion promptly after Seller's receipt thereof.
The Transaction will be submitted for approval of the Court pursuant to motions for sale of assets under Section 363(b) and (f) of the Code (the "Sales Motion"), and for assumption and assignment of related executory contracts under Section 365 of the Code (the "Assumption and Assignment Motion") and NOT pursuant to a Chapter 11 Plan under Section 1129(a) of the Code.
The Sales Motion and Assumption and Assignment Motion will be filed no later than 5 days after the entry of the Sales Procedures Order.
The orders entered by the Court approving the Sales Motion and the Assumption and Assignment Motion will be referred to, collectively, as the "Sales Orders".
Promptly after the filing of the ------------------------ Sales Motion, Seller shall use commercially reasonable efforts to obtain a hearing thereon at the earliest permissible date on which the Bankruptcy Court will hear such matter, after expiration of the applicable notice period, which notice period shall not be less than 20 calendar days, unless a shorter notice period is approved by the Bankruptcy Court.
Seller shall provide Acquiror with an opportunity to review and comment on the Sales Motion prior to the filing thereof with the Bankruptcy Court.
In the Procedures Motion, the Debtor will request that the Court set a date for commencement of the hearing on the Sales Motion and Assumption and Assignment Motion ("Sales Hearing") which is no more than 60 days after the filing of the Procedures Motion and within 45 days of entry of the Sales Procedures Order.