Default Disposition has the meaning set forth in Section 5.1(d).
Default Disposition means any private or public sale or disposition of all or any material portion of the Senior Secured Obligations Collateral (including Foreign Collateral) by one or more Grantors with the consent of Senior Collateral Agent or Foreign Collateral Agent (as instructed by the Controlling Party), as applicable, after the occurrence and during the continuation of an Event of Default under the Senior Secured Obligations Security Documents or the ABL Credit Agreement or LC Credit Agreement, as applicable (and prior to the Discharge of the Senior Secured Obligations), including any disposition contemplated by Section 9-620 of the UCC, which disposition is conducted by such Grantors with the consent of Senior Collateral Agent or Foreign Collateral Agent (as instructed by the Controlling Party) in connection with good faith efforts by Senior Collateral Agent or Foreign Collateral Agent (as instructed by the Controlling Party) to collect the Senior Secured Obligations through the disposition of Senior Secured Obligations Collateral (including any Foreign Collateral).
Default Disposition has the meaning set forth in Section 5.1(g).
Examples of Default Disposition in a sentence
The following terms shall have the meanings assigned to them in the Credit Agreement as it is in effect on the Closing Date (without reference to any subsequent amendment, restatement, modification or Refinance): Business Day, Closing Date, indebtedness, Default, Disposition, GAAP, Governmental Authority, Hedging Agreements, Hedging Counterparty, Loan, Obligations, Permitted Liens, Person, Responsible Officer, Secured Hedging Counterparty, Subsidiary and Unrestricted Subsidiary.
Default Disposition I/We understand and agree that in the event none of my/our elected choices are available, as determined by the Family Fertility Center, the clinic is authorized, without further notice to me/us, to destroy and discard my/our embryos.
But given the overwhelming wishes of the PJM Members not to return to a status quo that could impose significant adverse financial impacts on the Members, PJM submits this “stop gap” filing to for the very narrow purpose of allowing additional time for the Members to craft a meaningful alternative solution in the event the Commission rejects or suspends the Members’ long- term solution proposed in the FTR Default Disposition Filing.
In fact, because the FTR Default Disposition Filing would delete Operating Agreement, Schedule 1, section 7.3.9(g) and its parallel Tariff provision, this filing and the revisions it proposes are only relevant if the Commission declines to accept the FTR Default Disposition Filing and are moot if the Commission does accept that filing.
To reinforce this point, PJM states here its intention to withdraw this filing should the Commission accept the FTR Default Disposition Filing.
More Definitions of Default Disposition
Default Disposition means any private or public Disposition of (i) all or any material portion of the ABL Priority Collateral by one or more Grantors with the consent of ABL Agent after the occurrence and during the continuance of an ABL Default (and prior to the Discharge of ABL Obligations) or (ii) all or any material portion of the Notes Priority Collateral by one or more Grantors with the consent of Notes Agent after the occurrence and during the continuance of a Notes Default (and prior to the Discharge of Notes Obligations), which Disposition is conducted by such Grantors with the consent of ABL Agent in the case of the former, or Notes Agent in the case of the latter, in connection with good faith efforts by ABL Agent or Notes Agent, as the case may be, to collect the ABL Obligations through the Disposition of ABL Priority Collateral or the Notes Obligations through the Disposition of Notes Priority Collateral.
Default Disposition means any private or public sale or other disposition of all or any portion of the Collateral by one or more Obligors with the consent of the Senior Agent after the occurrence and during the continuance of an Event of Default, which sale or other disposition is conducted by such Obligors with the consent of the Senior Agent in connection with good faith efforts by the Senior Agent to collect the Senior Indebtedness through the sale or other disposition of Collateral, and in connection with a sale or disposition of any Collateral that is subject to Article 9 of the UCC, the Obligors consummating such sale or disposition have (a) provided the Noteholder Collateral Agent with the prior written notice that would have been required if such sale or disposition were a disposition of collateral by a secured creditor under Article 9 of the UCC, and (b) conducted such sale or disposition in a commercially reasonable manner as if such sale or disposition were a disposition of collateral by a secured creditor in accordance with Article 9 of the UCC.
Default Disposition means any private or public Disposition of (i) all or any material portion of the Revolving Priority Collateral by one or more Grantors with the consent of Revolving Agent after the occurrence and during the continuance of a Revolving Default (and prior to the Discharge of Revolving Obligations) or (ii) all or any material portion of the Term Priority Collateral by one or more Grantors with the consent of Term Loan Agent after the occurrence and during the continuance of a Term Loan Default (and prior to the Discharge of Term Loan Obligations), which Disposition is conducted by such Grantors with the consent of Revolving Agent in the case of the former, or Term Loan Agent in the case of the latter, in connection with good faith efforts by Revolving Agent or Term Loan Agent, as the case may be, to collect the Revolving Obligations through the Disposition of Revolving Priority Collateral or the Term Loan Obligations through the Disposition of Term Priority Collateral.
Default Disposition has the meaning set forth in Section 4.2(d) of this Agreement. "Disposition" or "Dispose" means the sale, assignment, transfer, license, lease (as lessor), exchange, or other disposition (including any sale and leaseback transaction) of any property by any person (or the granting of any option or other right to do any of the foregoing). "Electronic Signature" means an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record. "Enforcement Action" means: (a) the taking of any action to enforce any Lien in respect of the Collateral, including the institution of any foreclosure proceedings or the noticing of any public or private sale or other disposition pursuant to Article 9 of the UCC or other applicable law, or the taking of any action in an attempt to vacate or obtain relief from a stay or other injunction restricting any other action described in this definition, (b) the exercise of any right or remedy provided to a secured creditor under the ABL Documents or the Notes Documents (including, in either case, any delivery of any notice to seek to obtain payment directly from any account debtor of any Loan Party or any depositary bank, securities intermediary, or other person obligated on any Collateral of any Loan Party, the taking of any action or the exercise of any right or remedy in respect of the Collateral, or the exercise of any right of setoff or recoupment with respect to obligations owed to any Loan Party), under applicable law, at equity, in an Insolvency Proceeding or otherwise, including the acceptance of Collateral in full or partial satisfaction of an obligation, (c) the Disposition of all or any portion of the Collateral, by private or public sale or any other means permissible under applicable law, (d) the solicitation of bids from third parties to conduct the Disposition of all or a material portion of the Collateral to the extent undertaken and being diligently pursued in good faith to consummate the Disposition of such Collateral within a commercially reasonable time, (e) the engagement or retention of sales brokers, marketing agents, investment bankers, accountants, appraisers, auctioneers, or other third parties for the purpose of valuing, marketing, or Disposing of all or a material portion of the Collateral to the extent undertaken and being diligently pursued in good faith to consummate the Disposit...
Default Disposition means any private or public Disposition of all Collateral or any material portion of the Collateral by any Loan Party with the consent of Agent (acting at the direction of the Required First Out Holders) after the occurrence and during the continuance of an Event of Default (and prior to the Payment in Full of First Out Obligations), which Disposition is conducted in connection with good faith efforts by Agent to collect the Obligations through the Disposition of Collateral.
Default Disposition has the meaning set forth in Section 5.1(d). “DIP Financing” has the meaning set forth in Section 6.2. “Discharge of Junior Lien Obligations” means, except to the extent otherwise expressly provided in Section 5.5, the payment in full in cash of the Junior Lien Obligations (other than contingent indemnification obligations as to which no claim has been asserted) and the termination or expiration of all commitments, if any, to extend credit that would constitute Junior Lien Obligations. “Discharge of Senior Lien Obligations” means, except to the extent otherwise expressly provided in Section 5.5: (a) payment in full in cash of the Senior Lien Obligations (other than contingent obligations or contingent indemnification obligations (except as provided in clause (d) below)); (b) termination or expiration of all commitments, if any, to extend credit that would constitute Senior Lien Obligations; (c) termination of, or providing cash collateral (in an amount, to the extent, and in the manner required by the Senior Credit Agreement) in respect of, all outstanding letters of credit that constitute Senior Lien Obligations; and (d) cash collateralization (or support by a letter of credit) for any costs, expenses and contingent indemnification obligations consisting of Senior Lien Obligations not yet due and payable but with respect to which a claim has been asserted in writing under any Senior Loan Documents (in an amount and manner reasonably satisfactory to Senior Agent). “Disposition” or “Dispose” means the sale, assignment, transfer, license, lease (as lessor), exchange, or other disposition (including any sale and leaseback transaction) of any property by any person (or the granting of any option or other right to do any of the foregoing). “Dollars” or “$” means United States dollars. “Exercise any Secured Creditor Remedies” or “Exercise of Secured Creditor Remedies” means (a) the taking of any action to enforce any Lien in respect of the Collateral, including the institution of any enforcement or foreclosure proceedings, the noticing of any public or private sale or other disposition pursuant to Article 9 of the UCC or any diligently pursued and in good faith attempt to vacate or obtain relief from a stay or other injunction restricting any other action described in this definition or the enforcement of or execution on any judgment Lien on Collateral, (b) the exercise of any right or remedy with respect to the Collateral provided to a secured creditor under th...
Default Disposition means any private or public disposition of all or any material portion of the Pari Passu Collateral by one or more Grantors with the consent of Pari Passu Collateral Agent (acting at the direction of the Controlling Party) after the occurrence and during the continuance of an Event of Default, which disposition is conducted by such Grantors with the consent of Controlling Party in connection with good faith efforts by Pari Passu Collateral Agent to collect any of the Pari Passu Obligations (in accordance with the priorities set forth in Section 2.5) through the disposition of such Pari Passu Collateral.