Acceptable Sale definition

Acceptable Sale means the sale of substantially all of the Debtors’ assets to the Purchaser pursuant to the Asset Purchase Agreement and the Sale Order.
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Acceptable Sale means a sale to any Person(s) of all or substantially all of the Loan Parties’ businesses and assets (including one or more Receivables Portfolios) in one or a series of transactions on terms and conditions acceptable to the Lender Parties in their sole discretion (including, without limitation, the remittance of the Net Sale Proceeds therefrom to the Agent in accordance with the Required Proceeds Application), and pursuant to an Acceptable Definitive Purchase Agreement.
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Acceptable Sale means one or more sales (whether or not such sale(s) is made by way of a credit bid), of all or substantially all of the assets of the Loan Parties’ estates, which sale(s) result in sufficient distributable net proceeds to satisfy all of the allowed administrative expenses in the Chapter 11 Cases.
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Examples of Acceptable Sale in a sentence

  • The Borrower and each other Loan Party, with the assistance of Investment Banker, shall market the Loan Parties’ businesses and assets for sale, and shall negotiate, document and consummate the Acceptable Sale evidenced by an Acceptable Definitive Purchase Agreement, in each case as soon as practicable but in any event no later than the Outside Sale Closing Date.


More Definitions of Acceptable Sale

Acceptable Sale means the sale of all or substantially all of the Borrowers' assets pursuant to Section 363 of the Bankruptcy Code, or pursuant to a plan of reorganization or liquidation pursuant to Chapter 11 of the Bankruptcy Code which (i) results, simultaneously with and as a condition to the consummation of such sale, in (A) Full Payment of the Obligations (including, without limitation, the provision for repayment of any returned checks or other payment items that are dishonored after being credited to the Obligations), (B) termination of the DIP Facility, and (C) termination of all Bank Products and the provision for repayment of any liabilities of Borrowers arising in connection therewith, or (ii) is otherwise acceptable to Administrative Agent and each Lender in their sole and absolute discretion.
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Acceptable Sale means, in connection with the Approved Sale Process, a transaction pursuant to which (i) the Company receives an executed asset or share purchase agreement from a purchaser that (A) does not have any financing contingency, (B) demonstrates that such purchaser has the wherewithal to close the sale transaction, (C) provides for the payment in cash in full all of the First Lien Claims and Second Lien Claims (including all fees, costs and expenses owed to the holders of First Lien Claims and Second Lien Claims under the First Lien Credit Agreement, the Second Lien Credit Agreement and this Agreement) upon closing of the sale and (D) provides that such closing (or the payment in full of the First Lien Claims and Second Lien Claims) shall occur on or before January 31, 2018, and (ii) the Bankruptcy Court enters an order approving such purchase agreement and authorizing the Company to enter into it; and
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Acceptable Sale shall have the meaning ascribed thereto in Section 4.19(a)(i).
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Acceptable Sale means the sale of all or substantially all of the stock or assets of the Credit Parties (whether in a single transaction or a series of transactions) that either (A) provides for the repayment in full in cash of all Obligations under the Credit Agreement and Other Documents, or (B) is otherwise for a net purchase price and other consideration acceptable to the Required Lenders.
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Related to Acceptable Sale

  • Acceptable Waste means ordinary household, municipal, institutional, commercial and industrial Solid Waste including, but not limited to, the following:

  • Approved Valuer means a firm of valuers recognized as such by the Income Tax Department and having experience of valuing at least 5 (five) properties exceeding Rs. 100 cr. (Rupees one hundred crore) each in value;

  • Acceptable bid means any bid which, in all respects, complies with the conditions of bid and specifications as set out in the bid documents.

  • Acceptable Bank means (a) a bank or financial institution which has a rating for its long-term unsecured and non credit-enhanced debt obligations of A- or higher by S&P or A2 or higher by Xxxxx’x or a comparable rating from an internationally recognized credit rating agency; or (b) any other bank or financial institution approved by each Agent.

  • Acceptable Price as defined in the definition of “Dutch Auction.”

  • Acceptable Flag Jurisdiction means the Bahamas, Bermuda, Panama, the Xxxxxxxx Islands, the United States or such other flag jurisdiction as may be acceptable to the Required Lenders in their reasonable discretion.

  • Approved Valuation Firm means (a) each of (i) Xxxxxxxx Xxxxx Xxxxxx & Xxxxx, (ii) Lincoln International LLC (f/k/a Lincoln Partners LLC), (iii) Duff & Xxxxxx Corp. and (iv) Valuation Research Corporation, and (b) any other nationally recognized valuation firm approved by each of the Borrower and the Administrative Agent in their sole reasonable discretion.

  • Acceptable Insurance Default shall have the meaning assigned to such term or analogous term in the Servicing Agreement.

  • Qualified Appraiser An appraiser, duly appointed by the Seller, who had no interest, direct or indirect, in the Mortgaged Property or in any loan made on the security thereof, and whose compensation was not affected by the approval or disapproval of the Mortgage Loan, and such appraiser and the appraisal made by such appraiser both satisfied the requirements of Title XI of FIRREA and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated.

  • Approved Transaction means any transaction in which the Board (or, if approval of the Board is not required as a matter of law, the stockholders of the Company) shall approve (i) any consolidation or merger of the Company, or binding share exchange, pursuant to which shares of Common Stock of the Company would be changed or converted into or exchanged for cash, securities, or other property, other than any such transaction in which the common stockholders of the Company immediately prior to such transaction have the same proportionate ownership of the Common Stock of, and voting power with respect to, the surviving corporation immediately after such transaction, (ii) any merger, consolidation or binding share exchange to which the Company is a party as a result of which the Persons who are common stockholders of the Company immediately prior thereto have less than a majority of the combined voting power of the outstanding capital stock of the Company ordinarily (and apart from the rights accruing under special circumstances) having the right to vote in the election of directors immediately following such merger, consolidation or binding share exchange, (iii) the adoption of any plan or proposal for the liquidation or dissolution of the Company, or (iv) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all, or substantially all, of the assets of the Company.

  • Approved Third-Party Appraiser means each of (a) Xxxxxxxx Xxxxx Xxxxxx & Xxxxx Inc., (b) Lincoln International LLC (formerly known as Lincoln Partners LLC), (c) Duff & Xxxxxx Corporation, (d) Valuation Research Corporation, and (e) any other third party appraiser selected by the Borrower in its reasonable discretion.

  • Approved Appraiser means any of the following: Xxxxx Xxxxxxxx Xxxxxx, Xxxxx, H Xxxxxxxx & Co. Ltd., London, X.X. Xxxxxx Shipbrokers, Norway, or Fearnley AS, Norway.

  • Sale Transaction has the meaning set forth in Section 3(a).

  • Alternative Transaction means the sale, transfer, lease or other disposition, directly or indirectly, including through an asset sale, stock sale, merger or other similar transaction, of all or substantially all of the Purchased Assets in a transaction or a series of transactions with one or more Persons other than Purchaser (or its Affiliates).

  • Alternative Transaction Proposal means any offer, inquiry or proposal, written or oral (whether binding or non-binding and other than an offer, inquiry or proposal by Parent or an Affiliate of Parent), relating to an Alternative Transaction.

  • Approved Sale has the meaning set forth in 2.1(d).

  • Alternate Transaction shall have the meaning assigned to such term in Section 6.7(iii) hereof.

  • Qualified Property has the meaning set forth in Section 313.021(2) of the TEXAS TAX CODE and as interpreted by the Comptroller’s Rules and the Texas Attorney General, as these provisions existed on the Application Review Start Date.