Excluded Asset Sales means (a) Dispositions of inventory and obsolete or worn out property in the ordinary course of business and defaulted or past due accounts receivable in connection with the collection thereof and (b) Dispositions of property made by the Borrower or any Subsidiary to the Borrower or any Subsidiary.
Excluded Asset Sales means, during each fiscal year, the sale, lease (not entered into in the ordinary course of business), transfer or disposal of assets, the aggregate proceeds of which, in one or more transactions, are less than $20,000,000.
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
An amount equal to 100.0% of the net cash proceeds (including cash equivalents) received from the sale or other disposition of any property or assets of the Company or any of its subsidiaries that results in receipt of net proceeds (in cash or cash equivalents) or insurance or condemnation proceeds paid on account of any loss of any property or assets of the Company or any of its subsidiaries (in each case), other than any Excluded Asset Sales (as defined below).
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.
More Definitions of Excluded Asset Sales
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 (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 the collective reference to (i) any sale or discount, in each case without recourse, of notes or accounts receivable arising in the ordinary course of business, but only in connection with the compromise or collection thereof or to resolve disputes that occur in the ordinary course of business, (ii) any exchange of specific items of property between Company and any of its Subsidiaries or among any Subsidiaries of Company, so long as the purpose of each such exchange is to acquire replacement items of property which are the functional equivalent of the item of property so exchanged, (iii) disposals of obsolete, worn out or surplus property in the ordinary course of business, including, without limitation, intellectual property, (iv) the sale, lease, license, transfer or other disposition of equipment, materials and other tangible assets by Company or any Subsidiary of Company to any Subsidiary of Company; provided, however, that the aggregate fair market value of all such equipment, materials and other tangible assets sold, leased, licensed, transferred or otherwise disposed of pursuant to this clause (iv) does not exceed $30,000,000 in the aggregate since the Amendment and Restatement Effective Date, (v) sales of other assets for aggregate consideration of less than $2,000,000 per Fiscal Year with respect to any transaction or series of related transactions and less than $10,000,000 per Fiscal Year in the aggregate, (vi) any license (other than an exclusive license) of intellectual property owned by Company or its Subsidiaries in the ordinary course of business and (vii) the liquidation or otherwise disposition of Cash Equivalents in the ordinary course of business.
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, or (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 or (vii) sales, transfers, contributions or dispositions of the 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.
Excluded Asset Sales means (a) sales, transfers and other dispositions of assets generating Net Proceeds of less than $5,000,000 in a single transaction or in a series of related transactions, (b) sales, transfers and other dispositions of assets occurring from and after the Closing Date and generating Net Proceeds of at least $5,000,000 in a single transaction or in a series of related transactions but less than
Excluded Asset Sales means those Asset Sales permitted pursuant to CLAUSES (I), (ii), (III) and (IV) of SECTION 7.3(B).
Excluded Asset Sales means (a) the Evansville Sale, (b) the Vicksburg Sale and (c) the Atlantic City Facility Sale.