Common use of PROPOSED SALE/LIQUIDATION OF D56 ASSETS Clause in Contracts

PROPOSED SALE/LIQUIDATION OF D56 ASSETS. D56 BUSINESS PROCESS Beginning before the Effective Date and continuing after the Effective Date, the D56 Business will be scaled down or disposed of by the Company or New Lenox, as applicable, either through a scale down plan, a sale process/royalty arrangement or another disposition (the "D56 SCALE DOWN"). The net proceeds received by the Company prior to the Effective Date in connection with the D56 Scale Down shall be applied in accordance with the terms of the Revolving Loan Agreement and the Term Loan Agreement. Any assets of the D56 Business that remain unsold as of the Closing shall be treated as "Purchased Assets" and shall be sold, transferred and assigned to New Lenox. Prior to the Effective Date, the Company will consult with the Term Loan Lenders before making any material decisions regarding the D56 Scale Down.

PROPOSED SALE/LIQUIDATION OF D56 ASSETS. D56 BUSINESS PROCESS Beginning before the Effective Date and continuing after PROCESS the Effective Date, the D56 Business will be scaled down or disposed of by the Company or New Lenox, as applicable, either through a scale down plan, a sale process/royalty arrangement or another disposition (the "D56 SCALE DOWN"). The net proceeds received by the Company prior to the Effective Date in connection with the D56 Scale Down shall be applied in accordance with the terms of the Revolving Loan Agreement and the Term Loan Agreement. Any assets of the D56 Business that remain unsold as of the Closing shall be treated as "Purchased Assets" and shall be sold, transferred and assigned to New Lenox. Prior to the Effective Date, the Company will consult with the Term Loan Lenders before making any material decisions regarding the D56 Scale Down.

PROPOSED SALE/LIQUIDATION OF D56 ASSETS. D56 BUSINESS PROCESS Business Process Beginning before the Effective Date and continuing after the Effective Date, the D56 Business will be scaled down or disposed of by the Company or New Lenox, as applicable, either through a scale down plan, a sale process/royalty arrangement or another disposition (the "“D56 SCALE DOWN"Scale Down”). The net proceeds received by the Company prior to the Effective Date in connection with the D56 Scale Down shall be applied in accordance with the terms of the Revolving Loan Agreement and the Term Loan Agreement. Any assets of the D56 Business that remain unsold as of the Closing shall be treated as "“Purchased Assets" ” and shall be sold, transferred and assigned to New Lenox. Prior to the Effective Date, the Company will consult with the Term Loan Lenders before making any material decisions regarding the D56 Scale Down.