Other Material Assets Sample Clauses
The 'Other Material Assets' clause defines and governs the treatment of significant assets that are not otherwise specifically addressed in the agreement. This clause typically outlines what constitutes a material asset, such as equipment, intellectual property, or inventory, and may specify how these assets are to be identified, valued, or transferred between parties. Its core function is to ensure that all important assets are properly accounted for and managed within the contract, thereby preventing disputes or omissions regarding valuable property that could impact the parties' rights or obligations.
Other Material Assets. Liens shall be given over any other material assets of any relevant Non-U.S. Notes Party from time to time, according to the principles set out herein. Such Non-U.S. Notes Party shall be free to deal with those assets in the course of its business until an Event of Default has occurred and is continuing.
Other Material Assets. Liens shall be given over any other material assets of any relevant Non-U.S. Loan Party from time to time, according to the principles set out herein. Such Non-U.S. Loan Party shall be free to deal with those assets in the course of its business until an Event of Default has occurred and is continuing.
Other Material Assets. The Company shall not, nor shall it permit any Subsidiary Guarantor to Dispose of any other Collateral not otherwise covered in paragraphs (a) through (h) above (other than in the ordinary course of business) having a Net Book Value equal to or greater than $500,000,000 in a single transaction or a series of related transactions unless (i) after giving pro forma effect to such Disposition and the application of proceeds therefrom, the Borrowing Base Coverage Ratio is at least 1.15 to 1.00 and (ii) Net Cash Proceeds thereof are reinvested in the business of the Company within 15 months of such Disposition or, if not so reinvested, are applied as a Mandatory Prepayment pursuant to Section 2.18(a). Notwithstanding anything in this Section 7.5 to the contrary, (A) any Disposition described in paragraphs (b), (c), (g), (h) or (i) above shall be permitted if (1) 100% of the Net Cash Proceeds of such Disposition are applied as a Mandatory Prepayment pursuant to Section 2.18(a) and (2) at least 75% of the consideration for such Disposition is in the form of cash or cash equivalents and (B) any Disposition described in this Section 7.5 shall be permitted if such Disposition is to the Company, any Subsidiary Guarantor or, in the case of paragraph (b), any wholly-owned Subsidiary of the Company. In addition it is understood that the Company and its Subsidiaries may otherwise Dispose of their assets except to the extent expressly restricted pursuant to this Section 7.5 and Sections 7.7 and 7.9.
Other Material Assets. (a) A security interest may be given over other material assets of the Borrower from time to time, subject to the Agreed Security Principles.
(b) If the Borrower grants security over its material fixed assets, prior to any Event of Default, it shall be free to deal with those assets in the course of its business and as otherwise permitted under any Loan Document.
Other Material Assets. The Borrower shall not, nor shall it permit any Guarantor to Dispose of any other Existing Collateral not otherwise covered in paragraphs (a) through (h) above (other than in the ordinary course of business) having a Net Book Value equal to or greater than $500,000,000 in a single transaction or a series of related transactions unless (i) after giving pro forma effect to such Disposition and the application of proceeds therefrom, the Borrowing Base Coverage Ratio is at least 1.15 to 1.00 and (ii) the Net Cash Proceeds thereof are reinvested in the business of the Borrower within 15 months of such Disposition or, if not so reinvested are, unless such Credit Agreement Mandatory Prepayment Event shall have been waived, applied as a Credit Agreement Mandatory Prepayment Event pursuant to Section 2.18(a) of the Existing Credit Agreement. Notwithstanding anything in this Section 9.5 to the contrary, (i) any Disposition described in paragraphs (b), (c), (g), (h), or (j) above shall be permitted if (1) 100% of the Net Cash Proceeds of such Disposition are applied as a Credit Agreement Mandatory Prepayment pursuant to Section 2.18(a) of the Existing Credit Agreement and (2) at least 75% of the consideration for such Disposition is in the form of cash or cash equivalents, (ii) any Disposition described in paragraph (i) above that is made to a Subsidiary of the Borrower shall be permitted only if 100% of the consideration for such Disposition is in the form of cash or cash equivalents (including, for this purpose, and for purposes of Section 3.6(c)(i) and the definition of Specified ATVM Collateral Disposition, adjustments to inter-company balances outstanding between the Borrower and such Subsidiary) and (iii) any Disposition described in this Section 9.5 shall be permitted if such Disposition is (1) to the Borrower, (2) except in the case of paragraph (i), any Guarantor or (3) in the case of paragraph (b), any wholly owned Subsidiary of the Borrower. In addition, it is understood that the Borrower and its Subsidiaries may otherwise Dispose of their assets except to the extent expressly restricted pursuant to this Section 9.5 and Sections 9.7 (Fundamental Changes) and 9.9 (Sales and Leasebacks).
Other Material Assets. Liens shall be given over any other material assets (only to the extent constituting Collateral and which are not otherwise covered by the Agreed Security Principles) of any relevant Foreign Loan Party from time to time, according to the principles set out herein. Such Foreign Loan Party shall be free to deal with those assets in the course of its business until an Enforcement Event has occurred and is continuing.