Designated Asset Sale definition

Designated Asset Sale means the sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related transactions, of Designated Assets (including by way of a sale and lease-back transaction and including the disposition of Capital Stock of any Subsidiary) of Holdings, the Restricted Parent, the Issuer or any of their respective Restricted Subsidiaries such that, on a pro forma basis, after giving effect to such sale, conveyance, transfer or other disposition (and the repayment, prepayment, purchase or other retirement (if any) of any Indebtedness of Holdings or any of its Restricted Subsidiaries related to such transaction), the Specified Inventory Ratio of Holdings and its Restricted Subsidiaries is greater than 2.00 to 1.00; provided, however, that the aggregate amount of all Designated Asset Sales shall not exceed $150.0 million since the Reference Date.

Designated Asset Sale the sale, transfer or other disposition of any Capital Stock of any Designated Subsidiary, or issuance of any Capital Stock of any Designated Subsidiary, in each case to a Person other than the Company or a Wholly Owned Subsidiary of the Company.

Designated Asset Sale means each asset sale that is described on Schedule 1.01(a) hereto.

Examples of Designated Asset Sale in a sentence

• As of July 27, BONY had not responded, forcing Wilmington Trust to reiterate its request on that date.In a letter dated August 5, 2005, Kelley Drye requested that BONY, as Collateral Trustee, inform them of withdrawals from the Designated Asset Sale Proceeds Account and that the First Lien Trustee permit no further withdrawals from that Account without prior notice to the counsel for First Lien Noteholders.

• By virtue of this Joinder, the First Lien Notes became “Priority Lien Debt”7 under the Designated Asset Sale Proceeds Control Agreement (the “Control Agreement”) and the Collateral Trust Agreement and were granted senior status in respect to priority of liens and repayment.

• As already discussed, under § 5.11(b) of the Collateral Trust Agreement, BONY is permitted to refrain from releasing funds from the Designated Asset Sale Proceeds Account in the event of disagreement between the parties and until that disagreement is resolved by the parties or by a court order.

• No details about the exact use were given.In a letter sent one week later to BONY, Kelley Drye explained that Calpine’s 10Q, dated on or about August 9, 2005, appeared to indicate Rosetta Proceeds had been permitted to be withdrawn from the Designated Asset Sale Proceeds Account.Accordingly, the First Lien Noteholders also requested copies of the Collateral Trustee’s correspondence and documents pursuant to § 3.6 of the Collateral Trust Agreement.

• We reiterate our earlier demands that no further disbursements occur from the Designated Asset Sale Proceeds Account other than to pay the [First Lien] Notes.”33 The letter also noted that two proposed transfers were impermissible under the Instruments and that other conditions in the Instruments had not been met.34Three days later, on September 19, BONY refused to release the funds for Calpine’s two requested transfers, dated September 13 and September 16, from the Designated Asset Sale Proceeds Account.

More Definitions of Designated Asset Sale

Designated Asset Sale as defined in Section 8.6(k).

Designated Asset Sale the sale, lease or other Disposition of all those certain real estate assets of the Parent Borrower, NorthStar Realty, NorthStar Asset Management or any of their Subsidiaries described in Section 6.18 of the Merger Agreement.

Designated Asset Sale means an Asset Sale with respect to an asset identified on Schedule 2.5(d), whether consummated prior to, on or after the Effective Date. Schedule 2.5(d) sets forth the amount of Net Cash Proceeds received by the Obligors with respect to any Designated Asset Sales consummated prior to the Effective Date.

Designated Asset Sale means any sale, transfer or other disposition of any business units, product lines, assets or other property of the Company or any of the Restricted Subsidiaries related thereto, other than the Electronic Components Business Unit.

Designated Asset Sale means, following the issuance of the Securities, the first sale of assets of the Issuer and its Subsidiaries, in a single transaction or a series of related transactions, which assets generated net sales of at least $200.0 million and earnings before interest, taxes and depreciation and amortization of at least $24.0 million for the fiscal year ended September 29, 2002.

Designated Asset Sale any Disposition of any of the assets listed on Schedule 7.5.(g) attached hereto.

Designated Asset Sale means the sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related transactions, of Designated Assets (including by way of a Sale and Lease-Back Transaction and including the disposition of Capital Stock of any Subsidiary) of Holdings, the Company or any Subsidiary.