Examples of Permitted Disposal in a sentence
Other than the relevant Group Issuer Permitted Disposal and relevant Group Issuer Permitted Security Interest, any Group Issuer assigns, disposes, charges or otherwise encumbers or places a Security Interest on any of its assets without the prior written approval of the Group Issuer Debenture Trustee; or Other than Group Issuer Permitted Disposal, any Group Issuer sells, any of its assets without the prior written approval of the Group Issuer Debenture Trustee.
We hereby confirm that the following Charged Propert[y/ies]: [describe Charged Propert[y/ies]] (the Released Property), [is/are] to be disposed by way of a Permitted Disposal.
No Chargor shall (nor agree to) enter into a single transaction or a series of transactions (whether related or not and whether voluntary or involuntary) to sell, lease, license, sub-license, transfer or otherwise dispose of any Charged Property except for (i) a disposal in the ordinary course of trade of assets which are not then subject or expressed to be subject to a fixed Charge and the disposal of which is not prohibited by any Transaction Document and (ii) a Permitted Disposal.
The Security over any Charged Property which is the subject of a Permitted Disposal will be promptly released by the Security Trustee upon request of the relevant Chargor.
In the event when the Shareholder intends to dispose of (the “Obliged Shareholder”), otherwise than under the Permitted Disposal, all or a part of their Shares (the “Sale Shares”) to the benefit of a third party not being a Shareholder (the “Proposed Purchaser”), each and every other Shareholder (each as the “Eligible Shareholder”) shall have the right of first refusal on the terms and conditions set out in this section (the “ROFR”).