Permitted Reorganisation definition

Permitted Reorganisation means a solvent reconstruction, amalgamation, reorganisation, merger or consolidation whereby all or substantially all the business, undertaking or assets of the Issuer are transferred to a successor entity which assumes all the obligations of the Issuer under the Capital Securities.

Permitted Reorganisation means an amalgamation, merger, consolidation, reorganisation or other similar arrangement entered into by the Guarantor under which:

Permitted Reorganisation means any reorganisation, amalgamation, merger, demerger, consolidation, contribution in kind or restructuring or other similar transaction, in each case whilst solvent:

Examples of Permitted Reorganisation in a sentence

• Any order is made by any competent court or resolution passed for the winding up or dissolution of the Borrower save for the purposes of a Permitted Reorganisation or a reorganisation on terms previously approved in writing by the Security Trustee.

• The Borrower ceases or threatens to cease to carry on the whole or, as determined by the Security Trustee, substantially the whole of its business, save for the purposes of a Permitted Reorganisation or a reorganisation on terms previously approved in writing by the Security Trustee.

• The Dated Subordinated Notes issued by DSB and the Receipts and the Coupons relating to them will constitute direct and unsecured obligations of DSB (other than pursuant to a Permitted Reorganisation (as defined in Condition 3)) and will rank pari passu without any preference among themselves.

• For the purposes of this provision: Permitted Reorganisation means, in respect of the Issuer, an amalgamation, merger, spin-off, reconstruction, reorganisation, restructuring, transfer or contribution of assets or other similar transaction (a relevant transaction) whilst solvent and whereby: (a) to the extent that the Issuer is not a surviving entity, the resulting company is a Successor in Business of the Issuer.

• In this Condition 7, "Permitted Reorganisation" means the conversion of the Issuer from a State Owned Enterprise of which the Norwegian State is the sole owner, and to which the King of Norway has decided that Act No. 71 of 30 August 1991 of Norway relating to State Owned Enterprises (as amended) shall apply, to a limited company (AS or ASA) to which the Norwegian Limited Companies Acts of 13 June 1997 no.

More Definitions of Permitted Reorganisation

Permitted Reorganisation means an amalgamation, merger, consolidation, reorganisation or other similar arrangement entered into by the Issuer or ZIC (where ZIC is not the Issuer) under which:

Permitted Reorganisation means a reconstruction, amalgamation, merger, consolidation or transfer of assets and/or activities (a "Reorganisation") where the surviving legal entity which acquires or to which is transferred all or a substantial part of the business and/or activities of the Issuer:

Permitted Reorganisation means a solvent reconstruction, amalgamation, reorganisation, merger or consolidation whereby all or substantially all the business, undertaking and assets of the Issuer are transfer to a successor entity which assumes all the obligations of the Issuer under the Subordinated Notes;

Permitted Reorganisation means a solvent reconstruction, amalgamation, reorganisation,merger or consolidation whereby all or substantially all the business, undertaking and assets of the Company are transferred to a successor entity which assumes all the obligations of the Company under the Class A Cumulative Preference Shares.

Permitted Reorganisation means any one or more of the following:

Permitted Reorganisation means a solvent reconstruction, amalgamation, reorganisation, merger or consolidation whereby all or substantially all the business, undertaking or assets of DSB are transferred to a successor entity which assumes all the obligations of DSB under the Dated Subordinated Notes;

Permitted Reorganisation. ’ means a solvent reconstruction, amalgamation, reorganisation, merger or consolidation, with the prior approval of the Holders of not less than a simple majority of outstanding Preferred Securities, whereby all or substantially all the business, undertaking and assets of HBOS are transferred to a successor entity, which assumes all the obligations under the Guarantee;