Collateral Asset Sale means an Asset Sale of (i) any Collateral or (ii) any assets of Notes PropCo or Extended Term Loan PropCo.
Collateral Asset Sale means any Asset Sale (provided, however, that any exchange of assets under clause (8) of the definition of Asset Sales shall only be for new assets that immediately thereof constitute Collateral and have been pledged and perfected on a first-priority basis on the date of exchange) of any Collateral, or a series of related Asset Sales by the Company or any of its Subsidiaries involving the Collateral, other than (i) the sale for Fair Market Value of machinery, equipment, furniture or implements or other similar property that may be defective or may have become worn out or obsolete or no longer used or useful in the operations of the Company or (ii) sales of inventory in the ordinary course of business. A Collateral Asset Sale will not include an Event of Loss.
Collateral Asset Sale means the sale, lease, conveyance or other disposition of any assets constituting Collateral by the Company or any of its Subsidiary Guarantors that own Collateral; but expressly excluding the sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company and the Subsidiary Guarantors taken as a whole (which is governed by Section 8.01, Section 8.02 and/or Section 10.12 of this Indenture, as applicable). Notwithstanding the preceding provisions, none of the following will be deemed to be a Collateral Asset Sale:
Examples of Collateral Asset Sale in a sentence
Notwithstanding the foregoing, the Company or any Subsidiary Guarantor may consummate any Collateral Asset Sale of any Second Lien Collateral that is permitted pursuant to the terms of any Credit Facility secured by a Permitted Senior Lien on such Second Lien Collateral.
The Notes may be subject to redemption from time to time prior to their maturity pursuant to a First Lien Collateral Asset Sale Redemption, a Second Lien Collateral Asset Sale Redemption or an Event of Loss Redemption, in each case, pursuant to and subject to the terms of Section 10.11 of the Indenture.
More Definitions of Collateral Asset Sale
Collateral Asset Sale means a sale, lease or sub lease (as lessor or sublessor), sale and leaseback, assignment, conveyance, transfer, grant of an exclusive license (as licensor or sublicensor), or other disposition to, or any exchange of property with, any Person (other than to or with a Borrower), in one transaction or a series of transactions, of all or any part of the Collateral. For purposes of clarification, “Collateral Asset Sale” shall include (x) the sale or other disposition for value of any contracts and (y) the early termination or modification of any contract resulting in the receipt by any Borrower of a Cash payment or other consideration in exchange for such event (other than payments in the ordinary course for accrued and unpaid amounts that would have been due through the date of termination or modification without giving effect thereto).
Collateral Asset Sale shall include (x) the sale or other disposition for value of any contracts and (y) the early termination or modification of any contract resulting in the receipt by any Borrower of a Cash payment or other consideration in exchange for such event (other than payments in the ordinary course for accrued and unpaid amounts that would have been due through the date of termination or modification without giving effect thereto).
Collateral Asset Sale means the sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related transactions, of Collateral. Notwithstanding the foregoing, a disposition of Collateral upon the terms and conditions set forth in Section 11.03(a) shall not be considered a Collateral Asset Sale.
Collateral Asset Sale means, at any date, any sale, transfer or other disposition of any Collateral that (a) constitutes a “Collateral Asset Sale” under the terms of the Indenture and (b) is otherwise permitted by the applicable provisions, if any, of each of the Voting Creditor Documents as of such date (after giving effect to any waivers or amendments thereto), and the net proceeds of which are required by any such Voting Creditor Document to be held as Collateral by the Collateral and Intercreditor Agent in the Proceeds Account.
Collateral Asset Sale means any direct or indirect sale, conveyance, lease, transfer or other disposition, including, without limitation, by means of an amalgamation, merger, consolidation or similar transaction (each, a "Disposition"), or a series of related Dispositions by the Company or any of its Restricted Subsidiaries involving the Collateral, other than (i) the sale of machinery, equipment, furniture, apparatus, tools or implements or other similar property that may be defective or may have become worn out or obsolete or no longer used or useful in the operation of Fab 25, the aggregate fair market value of which does not exceed $10.0 million in any year or (ii) the sale or exchange of equipment in an alteration or improvement at Fab 25 with an aggregate value not to exceed $25.0 million at any one time provided such equipment has been replaced by equipment of equal or greater value within 45 days of such sale or exchange. A Collateral Asset Sale shall not include the requisition of title to or the seizure, condemnation, forfeiture or casualty of any Collateral.
Collateral Asset Sale. Offer” 4.10(c) “Consolidated Leverage Ratio Calculation Date” 1.01 “Covenant Defeasance” 8.03 Term Defined in Section “Default Direction” 6.01(c) “Defeased Covenants” 8.03 “Directing Holder” 6.01(c) “DTC” 2.03 “Event of Default” 6.01(a) “Excess Proceeds” 4.10(c) “Fixed Amounts” 4.06(d) “Grantors” 12.01(a) “IFRS Election Date” 1.01 “incur,” “incurred” or “incurrence” 4.09(a) “Incurrence Based Amounts” 4.06(d) “Initial Default” 6.01(e) “Initial Lien” 4.12 “Intercompany Loan Obligation Counterparties” 1.01 “International Exchange” 4.03(g) “Legal Defeasance” 8.02 “Maximum Amount” 10.02(f) “Note Register” 2.03 “Noteholder Direction” 6.01(c) “Offer Amount” 3.09(b) “Offer Period” 3.09(b) “Paying Agent” 2.03 Term Defined in Section “Purchase Date” 3.09(b) “Position Representation” 6.01(c) “Redemption Date” 3.07(b) “Refinancing Indebtedness” 4.09(b) “Refunding Capital Stock” 4.07(b) “Registrar” 2.03 “Related Person” 12.03(e) “Relevant Taxing Jurisdiction” 4.18(a) “Restricted Payments” 4.07(a) “Reversion Date” 4.16(b) “Required Currency” 13.17 “Secured Guarantors” 12.01(a) “Successor Company” 5.01(a) “Successor Person” 5.01(c) “Suspended Covenants” 4.16(a) “Suspension Date” 4.16(a) “Suspension Period” 4.16(b) “Swedish Companies Act” 10.02(d) “Swedish Party” 10.02(d) “Swiss-Secured Obligations” 10.02(f) “Swiss Guarantor” 10.02(f) “Transfer Agent” 2.03 Term Defined in Section “Treasury Capital Stock” 4.07(b) “Upstream or Cross-Stream Obligations” 10.02(f) “Verification Covenant” 6.01(c)
Collateral Asset Sale means the sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related transactions, of Collateral. Notwithstanding the foregoing, the following shall in each case not be considered a Collateral Asset Sale: (i) a transfer of assets or properties by the Company to a Collateral Grantor or by a Collateral Grantor to another Collateral Grantor, (ii) an issuance of Equity Interests by a Collateral Grantor to the Company or to another Collateral Grantor, (iii) a disposition of either obsolete equipment or equipment that is damaged, worn out or otherwise no longer useful in the business and (iv) any surrender or waiver of contract rights or a settlement, release or surrender of contract, tort or other claims of any kind or a grant of any Lien not prohibited by the Indenture.