Permitted Sale definition

Permitted Sale means those sales, transfers or assignments permitted by the Credit Agreement.

Permitted Sale means (a) the sale on terms and conditions acceptable to each of the Agent and the Required Lenders of all or substantially all of the Loan Parties’ business assets (other than those subject to the Specified Store Closing Sales) as a going concern as approved by the Bankruptcy Court pursuant to the applicable provisions of the Bankruptcy Code; provided that any going concern sale shall either (x) be for cash consideration to be paid at the closing of such sale in an amount in excess of all outstanding Obligations and shall not be subject to any financing contingencies, or (y) be consented to in writing by each of the Agent and the Required Lenders, or (b) a transaction or transactions on terms and conditions acceptable to each of the Agent and the Required Lenders combining the sale of all or substantially all of the Loan Parties’ Inventory and Equipment and the permanent closing of all or a portion of the Loan Parties’ Stores and the sale of all Collateral of the Loan Parties located therein through the retention by the Loan Parties of one or more Approved Liquidators, as approved by the Bankruptcy Court pursuant to the applicable provisions of the Bankruptcy Code, which transaction shall be (x) in the form of an “equity bid” including a payment at closing in an amount in excess of all outstanding Obligations or (y) consented to in writing by the each of the Agent and the Required Lenders. In the case of clauses (i) and (ii) above, all of the proceeds thereof (in an amount up to the outstanding balance of the Obligations) shall be paid to the Agent for application in accordance with the terms and conditions of this Agreement and the Financing Orders.

Permitted Sale means either (1) a transfer of Common Stock or Warrants to any Permitted Transferee, or (2) a transfer of Common Stock and Warrants in connection with a disposition of all of the equity interests of the Company and all of the Company's obligations under the Credit Agreement held by the transferor.

Examples of Permitted Sale in a sentence

• Covenant Package The covenant package for the New Money Facility shall follow the covenant package of the Club Loans as amended to: (i) reflect a Permitted Sale following the Restructuring Effective Date; (ii) reflect the operating status of the NewCo and its subsidiaries; and (iii) the seniority of the financial obligations under the New Money Facility.

• If a qualified IPO or Permitted Sale has not taken place within 24 months of the Restructuring Effective Date, NewCo shall take actions in furtherance of effecting an IPO as soon as commercially practicable (including engaging underwriters and other advisors).

• Investments arising as a result of Permitted Sale and Lease-Back Transaction; (38) additional Investments; provided that on a pro forma basis after giving effect to such Investments the Consolidated Total Debt Ratio would be equal to or less than 3.25 to 1.00; and (39) Investments consisting of the purchase or acquisition of securities from customers as a result of legal proceedings or regulatory requirements or settlements in the ordinary course of business.

• Should a shareholder of NewCo elect to limit the amount of compensation it receives in connection with a Permitted Sale, the amounts which it has declined to receive shall be distributed to other shareholders of NewCo on a pro rata basis.

• The Borrower will not, and will not permit any of the Restricted Subsidiaries to, enter into or effect any Sale Leasebacks, other than Permitted Sale Leasebacks; provided that the aggregate fair value of all assets disposed of pursuant to this Section 10.8 shall not exceed $60,000,000 in the aggregate.

More Definitions of Permitted Sale

Permitted Sale means those sales, transfers or assignments permitted by the Indenture.

Permitted Sale means those sales, transfers or assignments of Collateral permitted by the Purchase Agreement.

Permitted Sale means any sale, transfer or other disposition of substantially all of the assets or equity interests of the NewCo and/or Peruvian OpCos or that results in a change of control of the Target Group, which is: (i) consistent with each of the covenants under New Notes and the New Money Facility; (ii) approved as a Shareholder Reserved Matter; and (iii) in compliance with the Shareholders Agreement.

Permitted Sale has the meaning given in Section 17.5(b).

Permitted Sale has the meaning set forth in Section 11.2 of the Purchase Agreement.

Permitted Sale means, subject to compliance with Section 8.02, any sale by Borrower of (a) Receivables in connection with either (i) the repurchase by a Seller of a Receivable if required pursuant to the applicable Receivable Purchase Agreement, or (ii) a transfer of Receivables to a Securitization Vehicle in connection with a broadly marketed and distributed issuance of asset-backed securities, (b) Ineligible Collateral Receivables or (c) Collateral Receivables with the prior written consent of the Administrative Agent; provided, however, that no sale of any Receivables shall be a Permitted Sale if, immediately following such sale, any applicable Maximum Advance Rate Test is no longer satisfied; provided further that no sale of Receivables shall be a Permitted Sale if the Administrative Agent has provided notice within two (2) Business Days of receipt of notice pursuant to Section 8.02(a) of this Agreement, that such sale will, as reasonably determined by Administrative Agent, result in a materially adverse selection of Receivables to remain in the Borrowing Base following such sale.

Permitted Sale means a Transfer by Landlord which satisfies all of the following requirements in all respects: