Distress Sale definition

Distress Sale means a Change of Control occurring within 18 months of any of the following: (i) the Company's independent public accountants shall have made a "going concern" qualification in their audit report (other than by reason of extraordinary occurrences, such as material litigation, not attributable to poor management practices); (ii) the Company shall lack sufficient capital for its operations by reason of termination of its existing credit lines or the Company's inability to secure credit facilities upon acceptable terms; or (iii) the Company shall have voluntarily sought relief under, consented to or acquiesced in the benefit of application to it of the Bankruptcy Code of the United States of America or any other liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, reorganization, suspension of payments or similar laws, or shall have been the subject of proceedings under such laws (unless the applicable involuntary petition is dismissed within 60 days after its filing).
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Distress Sale means sale of paddy of Fair Average Quality to any person or the State Procurement Agency at prices lower than the prices fixed by the Government of India during the particular Kharif Marketing Season;
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Examples of Distress Sale in a sentence

  • Its history and operation are detailed at length in the Subcommittee’s “White Paper on the Distress Sale Policy,” which is appended hereto and incorporated herein by reference as Exhibit C.

  • Proposal #31: Revision Of The Distress Sale Policy To Institute Case-By-Case Review Of Purchasers’ Qualifications125 In 2004, the Diversity Committee proposed that the Distress Sale Policy, in existence since 1978126 but seldom used recently, be revised to ensure that it satisfies the narrow tailoring prong of strict scrutiny:127In 1977, Chairman Wiley convened the Minority Ownership Task Force to address the extreme under inclusion of minorities in broadcast station ownership.

  • Silentio Nullification Of The Distress Sale PolicyPerhaps the Bureau did not intend to nullify the Distress Sale Policy, but that is unquestionably the result of Huber.The heart of the Distress Sale Policy is that the seller is a wrongdoer, he is removed from broadcasting, and a qualified applicant replaces him.

  • The Bureau was correct in recognizing that the Distress Sale Policy “is not to be rigidly applied.”53/ Indeed, the case-by-case nature of the distress sale is a positive factor underscoring that the Distress Sale Policy is narrowly tailored to accomplish the goal of promoting racial diversity in broadcast ownership.

  • The Bureau found that deterrence “outweigh[s] the benefit of continued minority ownership of these stations.”83/ On the other hand, the Distress Sale Policy “provides broadcast licensees with an incentive to transfer their interests to minority-owned or controlled entities.”84/ Although it placed deterrence on one side of scale and the minority ownership incentive on the other, the Bureau did not assign a weight to either factor.

  • Napoli, “Audience Valuation and Minority Media: An Analysis of the Determinants of the Value of Radio Audiences,” 46 Journal of Broadcasting and Electronic Media 169 (2002).Third, due primarily to a series of self-inflicted wounds, the Commission has no other tools besides the Distress Sale Policy with which to advance minority ownership.87/ It should not lightly fail to use its only remaining tool.

  • Listeners For The Prompt Institution Of Service In The Public InterestOne of the strongest public interest benefits of the Distress Sale Policy is its usefulness in removing wrongdoers from broadcasting as rapidly as possible and allowing the public to receive service from a better licensee.79/ The Bureau’s decision was aimed at punishing Family, but instead it largely punishes the people of the Virgin Islands.

  • If the Remaining Members desire to exercise their option, the Remaining Members have a period of thirty (30) days after the earlier to occur of: (a) the expiration of the time period to give the Company Distress Sale Exercise Notice; or (b) the date that the Company gave notice of its refusal to purchase, to give notice (the “Member Distress Sale Exercise Notice”) to the Failed Member and the Company.

  • Applications And Strengthen The Distress Sale Policy ProspectivelyShould there be any doubt, we encourage the Commission to err on the side of approval of the transaction.

  • It is to be ensured that the Approved Engineers are providing Market Value, Realisable Value and Distress Sale Value in the valuation reports.

Related to Distress Sale

  • Distress Event means any of:

  • Distressed means satisfying the criteria applicable to a locality described in subdivision E 2 of

  • Double distressed means satisfying the criteria applicable to a locality described in subdivision E 3

  • Emotional distress means significant mental suffering or distress that may, but does not necessarily require, medical or other professional treatment or counseling;

  • Distressed merchandise means an alcoholic product in the possession of the

  • Retail transaction means the purchase of prepaid wireless telecommunications service from a seller for any purpose other than resale.

  • Distressed area means a local governmental unit that meets all of the following:

  • Lender-Related Distress Event means, with respect to any Lender, that such Lender or any Person that directly or indirectly controls such Lender (each, a “Distressed Person”), as the case may be, is or becomes subject to a voluntary or involuntary case with respect to such Distressed Person under any debt relief law, or a custodian, conservator, receiver or similar official is appointed for such Distressed Person or any substantial part of such Distressed Person’s assets, or such Distressed Person or any person that directly or indirectly controls such Distressed Person is subject to a forced liquidation or winding up, or such Distressed Person makes a general assignment for the benefit of creditors or is otherwise adjudicated as, or determined by any governmental authority having regulatory authority over such Distressed Person or its assets to be, insolvent or bankrupt; provided that a Lender-Related Distress Event shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in any Lender or any Person that directly or indirectly controls such Lender by a governmental authority or an instrumentality thereof; provided, further, that such ownership interest does not result in or provide such person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such person (or such governmental authority or instrumentality) to reject, repudiate, disavow or disaffirm any contract or agreements made by such person or its parent entity.

  • Unassigned medication for respiratory distress means albuterol, levalbuterol, or another medication designated by the executive commission of the Health and Human Services Commission for treatment of respiratory distress, prescribed by an authorized health-care provider in the name of the district with a non-patient-specific standing delegation order for the administration of a medication for respiratory distress, and issued by an authorized health-care provider.

  • Foreclosure means the process culminating in the acquisition of title to a Mortgaged Property in a foreclosure sale or by a deed in lieu of foreclosure or pursuant to any other comparable procedure allowed under Applicable Requirements.

  • Third Party Sale means any sale for resale in interstate commerce to a Power Purchaser that is not designated as part of Network Load under the Network Integration Transmission Service but not including a sale of energy through the PJM Interchange Energy Market established under the PJM Operating Agreement.

  • Bill xx Sale means a bill xx sale substantially in the form attached hereto as Exhibit B.

  • public transport means a vehicle operated by a passenger transport company or by a bus company in the provision of a public transport service;

  • Distressed municipality means a municipality that is qualified

  • Distressed Mortgage Loan Any Mortgage Loan that at the date of determination is Delinquent in payment for a period of 90 days or more without giving effect to any grace period permitted by the related Mortgage Note or for which the applicable Servicer or the Trustee has accepted a deed in lieu of foreclosure.

  • Agent-Related Distress Event means, with respect to the Administrative Agent, the Collateral Agent or any Person that directly or indirectly controls the Administrative Agent or the Collateral Agent (each, a “Distressed Agent-Related Person”), a voluntary or involuntary case with respect to such Distressed Agent-Related Person under any Debtor Relief Law is commenced, or a custodian, conservator, receiver or similar official is appointed for such Distressed Agent-Related Person or any substantial part of such Distressed Agent-Related Person’s assets, or such Distressed Agent-Related Person makes a general assignment for the benefit of creditors or is otherwise adjudicated as, or determined by any Governmental Authority having regulatory authority over such Distressed Agent-Related Person to be, insolvent or bankrupt; provided, that an Agent-Related Distress Event shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Equity Interests in the Administrative Agent, the Collateral Agent or any Person that directly or indirectly controls the Administrative Agent by a Governmental Authority or an instrumentality thereof, so long as such ownership interest does not result in or provide the Administrative Agent or Collateral Agent with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit the Administrative Agent or Collateral Agent (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made with the Administrative Agent or the Collateral Agent.

  • Distressed Person has the meaning set forth in the definition of “Lender-Related Distress Event.”

  • Securitization Transfer The sale or transfer of some or all of the Mortgage Loans to a trust or other entity as part of a publicly-issued or privately-placed, rated or unrated mortgage pass-through or other mortgage-backed securities transaction.

  • Company Sale means a transaction with a third Person that is not an Affiliate of the Company or group of third Persons that, acting in concert, do not collectively constitute Affiliates of the Company, pursuant to which such Person or Persons acquire, in any single transaction or series of related transactions, (i) all of the outstanding Equity Securities of the Company, (ii) all or substantially all of the assets of the Company and its Subsidiaries or (iii) Equity Securities of the Company authorized and issued following the Effective Date and possessing the power to elect or appoint a majority of the Board of Managers (or any similar governing body of any surviving or resulting Person).

  • Block Sale means the sale of Registrable Securities to one or several purchasers in a registered transaction by means of (i) a bought deal, (ii) a block trade or (iii) a direct sale.

  • SPAC Transaction means a transaction or series of related transactions by merger, consolidation, share exchange or otherwise of the Company with a publicly traded “special purpose acquisition company” or its subsidiary (collectively, a “SPAC”), immediately following the consummation of which the common stock or share capital of the SPAC or its successor entity is listed on the Nasdaq Stock Market, the New York Stock Exchange or another exchange or marketplace approved by the Board of Directors, including a majority of the Preferred Directors.

  • Severely Distressed Receivable means, as of any date of determination, a Receivable (other than a Repurchased Receivable) (i) that is 60 or more days delinquent or, if less than 60 days delinquent, the related Obligor has experienced a hardship and, in the judgment of the Servicer in accordance with its Customary Servicing Practices, it is reasonably foreseeable that the Obligor will be unable to pay the Principal Balance of, and accrued and unpaid interest and fees on, such Receivable in accordance with its terms, (ii) that is a Defaulted Receivable, (iii) for which the Obligor is the subject of a bankruptcy or other insolvency proceeding, (iv) for which the related Financed Vehicle has been repossessed (or for which the Servicer has initiated repossession proceedings), (v) for which the related Financed Vehicle has been subject to theft or suffered destruction or damage that would be determined to be beyond repair in accordance with Customary Servicing Practices or (vi) for which the maturity date is in less than six months and, in the judgment of the Servicer in accordance with its Customary Servicing Practices, it is reasonably foreseeable that the Obligor will be unable to pay the Principal Balance of, and accrued and unpaid interest and fees on, such Receivable by the maturity date.

  • Public transit means a location, including, but not limited to, a bus stop or train station, where the public may access buses, trains, subways, and other forms of transportation that charge set fares, run on fixed routes, and are available to the public.

  • Securitization Transaction Any transaction involving either (1) a sale or other transfer of some or all of the Mortgage Loans directly or indirectly to an issuing entity in connection with an issuance of publicly offered or privately placed, rated or unrated mortgage-backed securities or (2) an issuance of publicly offered or privately placed, rated or unrated securities, the payments on which are determined primarily by reference to one or more portfolios of residential mortgage loans consisting, in whole or in part, of some or all of the Mortgage Loans.

  • M&A Transaction means (a) a transaction in which all or substantially all of the assets to which the subject matter of this Agreement relates are acquired by or assigned to party that is not an Affiliate, or (b) a sale of all or substantially all of the share capital of BioLine (or its Affiliates), (c) the merger of BioLine (or its Affiliates) with any other entity, or any other similar corporate action, except an internal reorganization of BioLine (or its Affiliates) for tax-related reasons otherwise.

  • Nationalization means, in respect of a Share, that all such Shares or all the assets or substantially all the assets of the applicable Company are nationalized, expropriated or are otherwise required to be transferred to any governmental agency, authority or entity.