Substantial Asset Sale definition

Substantial Asset Sale means the sale and/or assignment in a single transaction or a series of related transactions over a twelve month period to a certificated air carrier, other than in the ordinary course of business, of that number of aircraft that, net of asset purchases or acquisitions, over the twelve months prior to the effective date of the transaction(s) produced more than 30% of scheduled block hours.
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Substantial Asset Sale means any disposition (whether by way of a sale, a merger or consolidation pursuant to which any Subsidiary of the Company ceases to be a majority-owned and controlled Subsidiary, a contribution of assets to any Entity other than a majority-owned and controlled Subsidiary, a spin-off or split-off involving any Subsidiary of the Company, a partial liquidating dividend or distribution of assets or any other form of disposition) of assets of the Company or of any of its Subsidiaries representing more than fifty percent (50%) of the assets, revenues or profits of the Company and its Subsidiaries determined on a consolidated basis.
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Substantial Asset Sale means any transaction by which the Company disposes of all or substantially all of any of the assets designated below:
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Examples of Substantial Asset Sale in a sentence

  • The Company shall require each Transferee to provide the seniority integration rights specified in the preceding sentence in connection with a Substantial Asset Sale in a written document enforceable against the Transferee by the Association and/or the Transferring Pilots.

  • The Company will not, nor will it permit any of its subsidiaries to sell, transfer, lease or otherwise make any Substantial Asset Sale (as such term is defined in Section 1.06) for consideration other than cash while the Notes or any part thereof remain outstanding.

  • The Company will not, nor will it permit any of its subsidiaries to sell, transfer, lease or otherwise make any Substantial Asset Sale (as such term is defined below) for consideration other than cash while the Note or any part thereof remains outstanding.

  • At such time that a transaction amounting to a Substantial Asset Sale is being finalized, the Company shall, on a confidential basis, verbally notify the MEC President of the Union at least three (3) days prior to the anticipated execution of such an agreement.

  • Each transaction would need to be evaluated on its own facts and circumstances to determine if the Substantial Asset Sale provision was applicable, and also what other rights and obligations under the AA/TWU Agreement may be applicable.


More Definitions of Substantial Asset Sale

Substantial Asset Sale means any disposition (whether by way of a sale, a merger or consolidation pursuant to which any Subsidiary of the Company ceases to be a majority-
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Substantial Asset Sale will mean any transaction by which the Company transfers, directly or indirectly, to Trans States Airlines more than 10% of the aircraft on the GoJet operating specifications (D85) in a single transaction or a series of related transactions for value over a 24 month rolling period.
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Substantial Asset Sale means any voluntary or involuntary sale or series of sales of the Company’s assets (including casualty losses or condemnations) which generate(s) (i) gross proceeds of $100,000 or more in the case of a single-asset sale, or (ii) aggregate gross proceeds of $100,000 or more over any 12-month period in the case of a series of asset sales.
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Related to Substantial Asset Sale

  • Initial Assets is defined in Section 2.1 of the Sale and Servicing Agreement.]

  • Permitted Asset Sale means any Asset Sale that is permitted under Section 6.8.

  • Material Assets means with respect to any Person all Material interests in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.

  • Permitted Asset Swap means the substantially concurrent purchase and sale or exchange of Related Business Assets or a combination of Related Business Assets and Cash Equivalents between the Issuer or any of its Restricted Subsidiaries and another Person; provided that any Cash Equivalents received must be applied in accordance with Section 4.10 hereof.

  • Asset Sale means any sale, issuance, conveyance, transfer, lease or other disposition (including, without limitation, by way of merger, consolidation or sale and leaseback transaction) (collectively, a “transfer”), directly or indirectly, in one or a series of related transactions, of:

  • REO Disposition The final sale by the Servicer of any REO Property.

  • Material Asset means any asset which has a book value of RMB100,000 or more or has a material effect on the business operations of any Party.

  • Permitted Asset Disposition means (i) any Asset Disposition permitted by Section 8.5 and (ii) any Excluded Asset Disposition.

  • Substantial action means adopting, publicizing, and implementing a formal plan to cease scrutinized business operations within 1 year and to refrain from any new business operations.

  • REO Acquisition The acquisition by the Master Servicer on behalf of the Trustee for the benefit of the Certificateholders of any REO Property pursuant to Section 3.14.

  • Specified Asset Sale has the meaning specified in Section 2.05(b)(vi).

  • Permitted Assets means any and all properties or assets that are used or useful in a Permitted Business (including Capital Stock in a Person that is a Restricted Subsidiary and Capital Stock in a Person whose primary business is a Permitted Business that shall become a Restricted Subsidiary immediately upon the acquisition of such Capital Stock by the Issuer or by a Restricted Subsidiary, but excluding any other securities).

  • Additional Assets means (1) any property or other assets used or useful in a Similar Business, (2) the Capital Stock of a Person that becomes a Restricted Subsidiary of the Issuer as a result of the acquisition of such Capital Stock by the Issuer or another Restricted Subsidiary or (3) Capital Stock constituting a minority interest in any Person that at such time is a Restricted Subsidiary of the Issuer; provided, however, that any Restricted Subsidiary described in clause (2) or (3) above is engaged in a Similar Business.

  • Significant Asset Sale means each Asset Sale which generates Net Sale Proceeds of at least $10,000,000.

  • Permitted Asset Dispositions means the following Asset Dispositions, provided, however, that at the time of such Asset Disposition, no Default or Event of Default exists or would result from such Asset Disposition:

  • Collateral Disposition means (i) the sale, lease, transfer or other disposition of the Vessel by the Borrower to any Person (it being understood that a Permitted Chartering Arrangement is not a Collateral Disposition) or the sale of 100% of the Capital Stock of the Borrower or (ii) any Event of Loss of the Vessel.

  • Substantial Block means a number of shares of the Voting Stock which has 15% or more of the aggregate voting power of all outstanding shares of Voting Stock.

  • Involuntary Disposition means any loss of, damage to or destruction of, or any condemnation or other taking for public use of, any property of any Loan Party or any Subsidiary.

  • Major Asset Disposition means the sale or other disposition in one transaction or a series of related transactions of 50% or more of the assets of the Company and its subsidiaries on a consolidated basis; and any specified percentage or portion of the assets of the Company shall be based on fair market value, as determined by a majority of the members of the Incumbent Board;

  • REO Disposition Proceeds All amounts received with respect to an REO Disposition pursuant to Section 4.16.

  • Asset Sale Proceeds Account means one or more deposit accounts or securities accounts holding the proceeds of any sale or disposition of any Notes Collateral.

  • Excluded Asset Disposition means an Asset Disposition permitted pursuant to Section 7.05 other than Asset Dispositions pursuant to Sections 7.05(vii), (xiii), and (xv).

  • Final disposition means the burial, interment, cremation, removal from the state, or other disposition of a dead body or fetus.

  • Asset Sale Proceeds means, with respect to any Asset Sale,

  • Excluded Disposal Proceeds means any Disposal Proceeds:

  • Disposition Event means any merger, consolidation or other business combination of the Corporation, whether effectuated through one transaction or series of related transactions (including a tender offer followed by a merger in which holders of Class A Common Stock receive the same consideration per share paid in the tender offer), unless, following such transaction, all or substantially all of the holders of the voting power of all outstanding classes of Common Stock and series of Preferred Stock that are generally entitled to vote in the election of Directors prior to such transaction or series of transactions, continue to hold a majority of the voting power of the surviving entity (or its parent) resulting from such transaction or series of transactions in substantially the same proportions as immediately prior to such transaction or series of transactions.