Distressed Disposal definition

Distressed Disposal means a disposal of an asset of a member of the Group which is:

Distressed Disposal means a disposal of an asset of a Debtor, a Security Grantor or a member of the Group or the shares in or liabilities or obligations of a Debtor, a Security Grantor or a member of the Group which is:

Distressed Disposal means a disposal of any Charged Property which is:

Examples of Distressed Disposal in a sentence

• The net proceeds of each Distressed Disposal and each Debt Disposal shall be paid, or distributed, to the Common Security Agent for application in accordance with Clause 19 (Application of proceeds) and, to the extent that any Liabilities Sale has occurred, as if that Liabilities Sale had not occurred.

• Subject to Clause 13.5 (Security Agent protection), a Distressed Disposal or a Debt Disposal may be made in whole or in part for consideration in the form of cash or, if not for cash, for Non-Cash Consideration which is acceptable to the Security Agent.

• Subject to Clause 10.5 (Collateral Agent protection), a Distressed Disposal or a Debt Disposal may be made in whole or in part for consideration in the form of cash or, if not for cash, for Non- Cash Consideration which is acceptable to the Collateral Agent.

• In the case of a Distressed Disposal, effected by, or at the request of, the Security Agent in respect thereof, the instructions given to the Security Agent in respect thereof shall not require the Security Agent to act other than in accordance with this Agreement.

• The net proceeds of each Distressed Disposal and each Debt Disposal shall be paid, or distributed, to the Security Agent for application in accordance with Clause 16 (Application of Proceeds).

More Definitions of Distressed Disposal

Distressed Disposal means a disposal of an asset or shares of a member of the Group which is:

Distressed Disposal has the meaning assigned to such term in Section 2.06(f) hereof.

Distressed Disposal means a disposal of an asset of a Loan Party which is: (a) being effected in circumstances where the applicable Collateral Document has become enforceable after delivery of any notice required under the applicable Collateral Document; (b) being effected by enforcement of a Collateral Document after delivery of any notice required under the applicable Collateral Document; or (c) being effected, after the occurrence of a Distress Event, by a Loan Party to a person or persons which is not a Loan Party.

Distressed Disposal means any disposal of any asset subject to the Security Documents being effected (i) at the request of the relevant instructing group pursuant to the Intercreditor Agreement in circumstances where the Security Documents have become enforceable, (ii) by enforcement of the Security Documents, (iii) after any of the Secured Obligations have been accelerated and declared due prior to its specified maturity, or (iv) following an event of default in respect of any of the Secured Obligations which is continuing.

Distressed Disposal has the meaning assigned to such term in Section 5.01(a).

Distressed Disposal means a disposal of any Security Assets which is:

Distressed Disposal means a disposal effected (i) by way of enforcement of the Transaction Security; (ii) at the request of the Instructing Group in circumstances where the Transaction Security has become enforceable; or (iii) by HoldCo (in the case of a disposal of the secured shares) or a debtor to a third party (not being a member of the Group) after any of the Senior Secured Debt has been accelerated.