Conversion of Assets to Cash Sample Clauses

Conversion of Assets to Cash. The Plan Administrator shall sell or otherwise dispose of, and liquidate or convert into Cash, the Assets (other than Assets, the disposition, liquidation or conversion of which is the responsibility of the CVV Trustees pursuant to that certain Declaration of Trust for Adelphia Contingent Value Vehicle, to be executed as of the Effective Date) in a manner compatible with the best interests of the holders of Allowed Claims. Once converted or liquidated into Cash, such Cash shall be deposited into the General Account.
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Conversion of Assets to Cash. The Plan Administrator, in his sole discretion, shall sell or otherwise dispose of, and liquidate or convert into Cash, any non-Cash assets of the Estate(s). The Plan Administrator shall cause the Disbursing Agent to transfer such Cash, first, to any Underfunded Reserve/Account (but only to the extent of any underfunding) and, next, to the General Account(s).
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Conversion of Assets to Cash. After the Partnership is dissolved, the assets of the Partnership shall be liquidated and converted to cash to the extent necessary to pay all creditors of the Partnership, including Partners to the extent allowed by Section 8.05(1)
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Conversion of Assets to Cash. (a) If the Partnership is not reconstituted, or the Partnership Interest of the Withdrawing Partner is not purchased in accordance with the terms hereof, then commencing with the date that is four (4) months after the date of dissolution, unless arrangements satisfactory to all Partners are otherwise made, sufficient assets of the Partnership will be converted into cash to permit the Partnership to pay all its liabilities other than long-term debts which (i) are secured by Partnership assets from which the projected net income is sufficient to pay installments of principal and interest on such debts as they become due and
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Conversion of Assets to Cash. If the Partnership is dissolved and is not reconstituted as provided in Section 10.3, unless other arrangements are made which are satisfactory to all of the remaining General Partners, exclusive of any General Partner causing the dissolution of the Partnership in breach of this Agreement, or, if there are no General Partners remaining, which are satisfactory to all of the remaining Partners, exclusive of any Partner causing the dissolution of the Partnership in breach of this Agreement, the Partnership Assets shall be liquidated and converted to cash to the extent necessary to pay all creditors of the Partnership, including Partners to the extent allowed by Section 17-804(a)(1) of the Act, except for creditors which are owed Approved Debts, which Approved Debts shall consist only of liabilities owed by the Partnership which are secured by properties from which the projected net cash flow is sufficient to pay principal and interest as such obligations become due and which are not accelerated nor considered defaulted upon solely because of the dissolution of the Partnership and the distribution in liquidation of the Partnership of any properties which secure the liabilities. Any of the Partnership Assets which remain after the above described assets are converted to cash may be liquidated and converted to cash or retained for distribution in kind to the Partners as the Liquidator determines to be appropriate. The Partners shall allow a reasonable time for the orderly liquidation of the Partnership in order to avoid losses to the extent possible.
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Conversion of Assets to Cash. (a) If the Company Interest of the Bankrupt Member is not purchased in accordance with the terms of this Agreement, then commencing with the date that is four (4) months after the date of dissolution, unless arrangements satisfactory to all Members are otherwise made, sufficient assets of the Company will be converted into cash to permit the Company to pay all its liabilities other than long-term debts which (i) are secured by Company assets from which the projected net income is sufficient to pay installments of principal and interest on such debts as they become due and (ii) contain terms specifying that neither the dissolution of the Company nor the distribution of such property that is subject to and secured by such debts constitutes a default or causes the acceleration of the maturity of such indebtedness ("Approved Debts").
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Conversion of Assets to Cash. (a) If the Partnership is not reconstituted, or the Partnership Interest of the Withdrawing Partner is not purchased in accordance with the terms hereof, then commencing with the date that is four (4) months after the date of dissolution, unless arrangements satisfactory to all Partners are otherwise made, sufficient assets of the Partnership will be converted into cash to permit the Partnership to pay all its liabilities other than long-term debts which (i) are secured by Partnership assets from which the projected net income is sufficient to pay installments of principal and interest on such debts as they become due and (ii) contain terms specifying that neither the dissolution of the Partnership nor the distribution of such property that is subject to and secured by such debts constitutes a default or causes the acceleration of the maturity of such indebtedness ("Approved Debts").
Sample 1
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Related to Conversion of Assets to Cash

  • Disposition of Assets; Etc The Borrower will not, and will not permit any of its Subsidiaries to, sell, lease, license, transfer, assign or otherwise dispose of any of its business, assets, rights, revenues or property, real, personal or mixed, tangible or intangible, whether in one or a series of transactions, other than inventory sold in the ordinary course of business upon customary credit terms, sales of scrap or obsolete material or equipment, the lapse of intellectual property of the Borrower or any of its Subsidiaries that is no longer useful or material to their business and sales of fixed assets the proceeds of which are used to purchase other property of a similar nature of at least equivalent value within 180 days of such sale, provided, however, that this Section 6.09 shall not (a) prohibit any sale or other transfer of an interest in accounts or notes receivable to a Securitization Entity pursuant to Permitted Securitization Transactions if the aggregate outstanding principal amount of the Indebtedness under all Permitted Securitization Transactions does not exceed $250,000,000, (b) prohibit any sale or other transfer of any asset of the Borrower or any Subsidiary to the Borrower or any Subsidiary that is a Guarantor and (c) prohibit any such sale, lease, license, transfer, assignment or other disposition if the aggregate book value (disregarding any write-downs of such book value other than ordinary depreciation and amortization) of all of the business, assets, rights, revenues and property sold, leased, licensed, transferred, assigned or otherwise disposed of after the Effective Date and on or prior to such transaction date shall be less than 40% of the aggregate book value of the Consolidated Total Assets as of the end of the fiscal year immediately preceding such transaction and the aggregate amount of businesses, assets, rights, revenues and property sold, leased, licensed, transferred, assigned or otherwise disposed of after the Effective date and on or prior to such transaction date shall be responsible for less than 40% of the consolidated net sales or net income of the Borrower and its Subsidiaries for the fiscal year immediately preceding the date of such transaction, and if immediately after any such transaction, no Default shall exist or shall have occurred and be continuing.

  • Fundamental Changes; Disposition of Assets; Acquisitions No Credit Party shall, nor shall it permit any of its Subsidiaries to, enter into any transaction of merger or consolidation, or liquidate, wind-up or dissolve itself (or suffer any liquidation or dissolution), or convey, sell, lease or sub-lease (as lessor or sublessor), exchange, transfer or otherwise dispose of, in one transaction or a series of transactions, all or any part of its business, assets or property of any kind whatsoever, whether real, personal or mixed and whether tangible or intangible, whether now owned or hereafter acquired, or acquire by purchase or otherwise (other than purchases or other acquisitions of inventory, materials and equipment and Capital Expenditures in the ordinary course of business) the business, property or fixed assets of, or stock or other evidence of beneficial ownership of, any Person or any division or line of business or other business unit of any Person, except:

  • Fundamental Changes; Disposition of Assets The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, enter into any transaction of merger, consolidation or amalgamation, consummate a Division as the Dividing Person, or liquidate, wind up or dissolve themselves (or suffer any liquidation or dissolution), or otherwise make any Disposition of any assets, except:

  • VALUATION OF ASSETS (a) Except as may be required by the 1940 Act, the Board of Managers shall value or have valued any Securities or other assets and liabilities of the Fund as of the close of business on the last day of each Fiscal Period in accordance with such valuation procedures as shall be established from time to time by the Board of Managers and which conform to the requirements of the 1940 Act. In determining the value of the assets of the Fund, no value shall be placed on the goodwill or name of the Fund, or the office records, files, statistical data or any similar intangible assets of the Fund not normally reflected in the Fund's accounting records, but there shall be taken into consideration any items of income earned but not received, expenses incurred but not yet paid, liabilities, fixed or contingent, and any other prepaid expenses to the extent not otherwise reflected in the books of account, and the value of options or commitments to purchase or sell Securities or commodities pursuant to agreements entered into prior to such valuation date.

  • Distribution of Assets In case the Company shall declare or make any distribution of its assets (including cash) to holders of Common Stock as a partial liquidating dividend, by way of return of capital or otherwise, then, after the date of record for determining shareholders entitled to such distribution, but prior to the date of distribution, the holder of this Warrant shall be entitled upon exercise of this Warrant for the purchase of any or all of the shares of Common Stock subject hereto, to receive the amount of such assets which would have been payable to the holder had such holder been the holder of such shares of Common Stock on the record date for the determination of shareholders entitled to such distribution.

  • Disposition of Assets To sell, exchange, lend, pledge, mortgage, hypothecate, write options on and lease any or all of the assets of the Trust;

  • Application of Assets Upon dissolution of the Company, the Company shall cease carrying on its business and affairs and shall commence winding up of the Company’s business and affairs and complete the winding up as soon as practicable. The Company’s affairs shall be concluded by the Managers. The assets of the Company may be liquidated or distributed in kind, as determined by the Managers, and the same shall first be applied to the satisfaction (whether by payment or the making of reasonable provision for payment) of the Company’s liabilities and then to the Members. If the assets of the Company shall not be sufficient to pay all of the liabilities of the Company, to the fullest extent permitted by law, no assets of the Company may be sold or disposed of without the written consent of all of the holders of outstanding Securities. To the extent that Company assets cannot either be sold without undue loss or readily divided for distribution in kind to the Members, then the Company may, as determined by the Managers, convey those assets to a suitable holding entity established for the benefit of the Members in order to permit the assets to be sold without undue loss and the proceeds thereof, subject to the Act, distributed to the Member at a future date. The legal form of the holding entity, the identity of the trustee or other fiduciary and the terms of its governing instrument shall be determined by the Managers.

  • Liquidation of Assets We have the right to liquidate assets in your Xxxx XXX if necessary to make distributions or to pay fees, expenses, taxes, penalties, or surrender charges properly chargeable against your Xxxx XXX. If you fail to direct us as to which assets to liquidate, we will decide, in our complete and sole discretion, and you agree to not hold us liable for any adverse consequences that result from our decision.

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