Excluded Asset Sales means (a) sales of inventory, equipment, goods or services in the ordinary course of business, (b) the granting of any option or other right to purchase, lease or otherwise acquire inventory, equipment, goods or services in the ordinary course of business and (c) sales, transfers or other dispositions of assets among the Loan Parties and their Subsidiaries.
Excluded Asset Sales means, in respect of each fiscal year, the sale, lease (not entered into in the ordinary course of business), transfer or disposal during such year of assets, the aggregate proceeds of which, in one or more transactions, are less than $50,000,000.
Excluded Asset Sales means (a) any lease, license or other transfer (but excluding sales) of the right to use a portion of any Colocation Facility to any customer or provider of fiber optic, satellite, wireline or other connectivity to a Colocation Facility in the ordinary course of business, (b) sales of property or equipment that has become worn out, obsolete or damaged or otherwise unsuitable for use in connection with a Permitted Business, (c) Dispositions of property in the ordinary course of business in an amount not exceeding $2,000,000 in the aggregate for all such Dispositions after the Closing Date taken together, or (d) any transfer or assignment by Borrower or a Restricted Subsidiary which is a Guarantor to Borrower or any other Restricted Subsidiary which is a Guarantor.
Examples of Excluded Asset Sales in a sentence
Promptly upon receipt of any Net Cash Proceeds, other than pursuant to any Excluded Asset Sales, the Company shall deliver to the Agent a certificate signed by the chief financial officer of the Company, which shall be in form and substance satisfactory to the Agent, setting forth the amount of the gross cash proceeds received and the items deducted therefrom in reasonable detail in order to confirm the amount of such Net Cash Proceeds and also setting forth the Company's year-to-date asset sales.
No Obligor shall, or shall cause or permit any Subsidiary thereof to, sell, transfer, convey, assign or otherwise dispose of any of its properties or other assets, including the capital stock of any such Person or any of their Accounts, other than Excluded Asset Sales.
Upon the consummation of any Asset Sale, other than the Excluded Asset Sales, by the Borrower or any Subsidiary of the Borrower, the Aggregate Revolving Loan Commitment shall be automatically and permanently reduced (unless otherwise consented by the Required Lenders) in whole, or in part ratably among the Lenders, in an aggregate amount equal to one hundred percent (100%) of the Net Cash Proceeds received plus such proceeds converted from non-cash to cash or Cash Equivalents.
The Company shall cause its Restricted Subsidiaries to transfer to the Company all consideration received by the Restricted Subsidiaries from Asset Sales and Excluded Asset Sales as promptly as practicable, except in the case of Asset Sales to the extent the proceeds thereof are applied as set forth in clause (a)(iii) or (b) of the immediately following paragraph.
Schedules Schedule I Commitments Schedule 1.1(a) Excluded Asset Sales Schedule 3(m) Landlord Waivers Schedule 4.1(b) Operating Authority Schedule 4.1(c) Subsidiaries Schedule 4.1(d) Obligor Information Schedule 4.2(c) Consents, Approvals, etc.
More Definitions of Excluded Asset Sales
Excluded Asset Sales means (a) any sale or other disposition of office furniture, fixtures and equipment in connection with the headquarters relocation, (b) any sale or other disposition of assets to be acquired as part of the Harmony Acquisition and (c) exchange of existing computer equipment for new computer equipment, in an aggregate amount for all of the foregoing not in excess of $5,000,000.
Excluded Asset Sales means (i) sales, leases or other dispositions of inventory in the ordinary course of business and obsolete or worn-out assets, (ii) any sale or discount, in each case without recourse and in the ordinary course of business, of accounts receivable arising in the ordinary course of business, but only in connection with the compromise or collection thereof and not as part of any financing transaction, (iii) any transfer of assets by any Consolidated Subsidiary of EnergySolutions to EnergySolutions (and, after the IPO Reorganization, by any consolidated subsidiary of Duratek to Duratek) and any transfer of assets by EnergySolutions (or, after the IPO Reorganization, Parent) to any of its Consolidated Subsidiaries, or between any of such Consolidated Subsidiaries, so long as the security interests granted to the Collateral Agent for the benefit of the Secured Parties pursuant to the Security Documents in the assets so transferred shall remain in full force and effect and remain perfected and of the same priority (to at least the same extent as in effect immediately prior to such transfer), (iv) personal property with a fair market value in the aggregate of less than $1,000,000 per year, (v) dispositions of personal property to the extent that (x) such personal property is exchanged for credit against the purchase price of replacement personal property performing the same function or (y) the proceeds of any such disposition are promptly applied to the purchase price of similar replacement personal property or (vi) after the IPO Reorganization, a disposition by Holdco of its Equity Interests in Parent.
Excluded Asset Sales means (i) sales, leases or other dispositions of inventory in the ordinary course of business and obsolete or worn-out assets, (ii) any sale or discount, in each case without recourse and in the ordinary course of business, of accounts receivable arising in the ordinary course of business, but only in connection with the compromise or collection thereof and not as part of any financing transaction, (iii) any transfer of assets by any Consolidated Subsidiary of EnergySolutions to EnergySolutions and by any consolidated subsidiary of Duratek to Duratek and any transfer of assets by Parent to any of its Consolidated Subsidiaries, or between any of such Consolidated Subsidiaries, so long as the security interests granted to the Collateral Agent for the benefit of the Secured Parties pursuant to the Security Documents in the assets so transferred shall remain in full force and effect and remain perfected and of the same priority (to at least the same extent as in effect immediately prior to such transfer), (iv) personal property with a fair market value in the aggregate of less than $1,000,000 per year, (v) dispositions of personal property to the extent that (x) such personal property is exchanged for credit against the purchase price of replacement personal property performing the same function or (y) the proceeds of any such disposition are promptly applied to the purchase price of similar replacement personal property, (vi) sales, transfers, contributions or dispositions of assets contributed for the purpose of creating a Special Purpose Subsidiary other than ZionSolutions otherwise permitted herein not to exceed $10,000,000 per such Special Purpose Subsidiary, (vii) sales, transfers, contributions or dispositions of assets (A) of a Special Purpose Subsidiary for the purpose of terminating, liquidating or winding down of such Special Purpose Subsidiary or (B) pursuant to the Zion Agreements with a fair market value not exceeding the fair market value of any assets to be disposed of or transferred pursuant to the Zion Agreements in the forms most recently delivered to the Administrative Agent prior to the date hereof (without, for the avoidance of doubt, giving effect to any amendments or modifications thereof pursuant to clause (o) of the definition of “Zion Agreements”) or (viii) additional dispositions or transfers of assets in connection with the Zion Acquisition pursuant to the Zion Agreements with an aggregate fair market value not exceeding $5,000,000...
Excluded Asset Sales means Asset Sales permitted under clauses (i) through (xv) of Section 6.3(B) and, solely with respect to assets acquired after the Closing Date which do not constitute replacements or substitutions for assets existing on the Closing Date, Asset Sales permitted under clause (xvi) of Section 6.3(B).
Excluded Asset Sales means (a) the Evansville Sale, (b) the Vicksburg Sale and (c) the Atlantic City Facility Sale.
Excluded Asset Sales means the sale or other Disposition of the assets set forth in writing delivered to the Administrative Agent prior to the Closing Date.
Excluded Asset Sales means the following Dispositions of Property or series of related Dispositions of Property: (i) Permitted Asset Swaps; (ii) the sale or Disposition in the ordinary course of business of inventory, accounts receivable (in respect of the collection thereof) and obsolete assets; (iii) leases entered into in the ordinary course of business; (iv) non-exclusive license of patents, trademarks, registrations therefor and other similar intellectual property in the ordinary course of business; (v) intercompany Dispositions among the Borrower and its Subsidiaries in the ordinary course of business; (vi) sale leaseback transactions entered into by the Borrower or any of its Subsidiaries in the ordinary course of business and (vii) Dispositions to or by Securitization Subsidiaries consistent with the definition thereof.