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 the sale, lease, conveyance, transfer, investment 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). Notwithstanding the preceding provisions, none of the following will be deemed to be a Collateral Asset Sale:
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.
Examples of Collateral Asset Sale in a sentence
The Collateral Asset Sale Offer, the Collateral Advance Offer, the Asset Sale Offer or the Advance Offer, as the case may be, shall be made to all Holders and, if required or permitted by the terms thereof, holders of other First Lien Obligations (in the case of Collateral Excess Proceeds) or any other Senior Indebtedness (in the case of Excess Proceeds).
The notice shall contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Collateral Asset Sale Offer, the Collateral Advance Offer, the Asset Sale Offer or the Advance Offer, as the case may be.
The Issuer shall announce the results of the Collateral Asset Sale Offer, the Collateral Advance Offer, the Asset Sale Offer or the Advance Offer, as the case may be, on or as soon as practicable after the Purchase Date on the website or online data system maintain pursuant to Section 4.03(a) hereof.
The Issuer may satisfy the foregoing obligations with respect to any Net Proceeds from an Asset Sale by making a Collateral Asset Sale Offer with respect to such Net Proceeds prior to the time period that may be required by this Indenture with respect to all or a part of the available Net Proceeds (the “Collateral Advance Portion”) in advance of being required to do so by this Indenture (a “Collateral Advance Offer”).
If any Collateral Excess Proceeds remain after consummation of a Collateral Asset Sale Offer (“Declined Collateral Excess Proceeds”), the Issuer may use those Declined Collateral Excess Proceeds for any purpose not otherwise prohibited by this Indenture.
More Definitions of Collateral Asset Sale
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 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 of the Collateral or any portion thereof, other than (a) 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 (b) 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 is 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) “Collateral Excess Proceeds” 4.10(a) “Collateral Excess Proceeds Threshold” 4.10(c) “Covenant Defeasance” 4.10(c) 8.03 “Covenant Suspension Event” 4.17(a) “Declined Collateral Proceeds” 4.10(c) “Excess Proceeds Threshold” 4.10(d) 2.03 “Fixed Charge Coverage Test” 6.01 4.10(a) “ Declined Proceeds” 4.10(d) “DTC 4.07(b) “Event of Default” 4.10(b) “Excess Proceeds” 4.07(xv)(c) “Foreign Disposition” “Highest Owner Tax Amount” “Increased Amount” 4.12 “incur” and “incurrence” 4.09(a) “LCT Election” 1.06 “LCT Test Date” 1.06 “Legal Defeasance” 8.02 “Note Register” 2.03 “Offer Amount” 3.08(b) “Offer Period” 3.08(b) “Pari Passu Indebtedness” 4.10(d) “Paying Agent” 2.03 “Purchase Date” 3.08(b) “Redemption Date” 3.01 “Refinancing Indebtedness” 4.09(b) “Refunding Capital Stock” 4.07(b)(ii) “Related Person” 12.07(b) “Registrar” 2.03 “Reserved Indebtedness Amount” 4.09(c)(vi) “Restricted Payments” 4.07(a) “Reversion Date” 4.17(c) “Second Commitment” 4.10(b) “Security Document Order” 12.07(r) “Subject Lien” 4.12 “Successor Company” 5.01(a) “Successor Person” 5.01(f) “Suspended Covenants” 4.17(a) “Suspension Date” 4.17(a) “Suspension Period” 4.17(c) “Transfer Agent” 2.03 “Treasury Capital Stock” 4.07(b) “Trustee” 8.05