Shred-Tech Disposition definition
Shred-Tech Disposition means the disposition of all or substantially all of the assets of Shred-Tech.
Examples of Shred-Tech Disposition in a sentence
Simultaneously with such reduction of the Commitments, the Borrower shall prepay the Borrowings in an amount equal to all of the proceeds (less reasonable expenses) from the Shred-Tech Disposition, except for any pro rata portion of such proceeds which is required to be applied to reduce the Senior Note Debt.
Such reduction of the Commitments due to the Shred-Tech Disposition shall occur automatically on the first Business Day following the date of closing of such sale and without further action or documentation, provided that the Borrower shall execute and deliver and cause to be executed and delivered such documents, instruments and agreements as the Administrative Agent shall request to further reflect such reduction.