Liquidation Sale definition

Liquidation Sale means a so-called bulk sale, liquidation sale or “going out of business sale” conducted either by any Secured Party or a Grantor in respect to all or a substantial portion of such Grantor’s Collateral following the occurrence and during the continuance of an Event of Default under, and as defined in, either the First Priority Debt Documents or Second Priority Debt Documents.

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Liquidation Sale means a transaction or a series of transactions as result of which the Company ceases to operate as a retail grocery chain, regardless of the structure of the transaction or the series of transactions, and, as used herein, the term "Restructuring" means a transaction or a series of transactions as a result of which the Company continues to operate as a retail grocery chain, regardless of the structure of the transaction or the series of transactions. The term "Liquidation/Sale" and the term "Restructuring" are mutually exclusive and the determination whether a particular transaction or a particular series of transactions constitutes a Liquidation/Sale or a Restructuring shall be made by the Board of Directors of the Company ("Board of Directors").

Liquidation Sale shall have the meaning specified in Section 2.2.l(d).

Examples of Liquidation Sale in a sentence

• For the avoidance of doubt, actions by a Liquidator in consulting with, or overseeing a GOB Sale which is an Authorized Liquidation Sale, and actions by a Liquidator in fulfilling such role shall not violate this provision.

• Without limiting the foregoing, if Retailer conducts a GOB Sale which is not an Authorized Liquidation Sale at any Store Location, as of the initiation of such GOB Sale, Bank shall have the rights set forth in clauses (i), (ii), (iii) and (iv) above with respect to such Store Location, or if such GOB Sale is an Authorized Liquidation Sale, the rights set forth in clause (i) above.

• Any GOB Sale by Retailer, including any Authorized Liquidation Sale, whether or not approved by any court, shall comply with all federal, state and local laws and regulations concerning such sales.

• To the extent that Lender has received and is still holding payments with respect to such Liquidation Sale after all other Obligations with respect to such Liquidation Sale have been paid in full, Lender may apply the amount of payments against any Success Fee with respect to such Liquidation Sale.

• If Lender is incurring Letter of Credit Obligations with respect to the Guaranteed Amount or Purchase Price with respect to such Liquidation Sale, Lender shall have received from Borrower cash collateral or a letter of credit in form, substance and issued by an issuer satisfactory to Lender, in either case in an amount equal to the Borrower Equity Amount with respect to such Liquidation Sale.

More Definitions of Liquidation Sale

Liquidation Sale means going out of business, liquidation or store closing sales of a particular Merchant conducted by a Liquidator with respect to the Retail Inventory or any related sales of Other Assets pursuant to a particular Liquidation Sale Agreement and shall include Permitted Capital Assets Transactions carried out to permit a Borrower to conduct such sales.

Liquidation Sale means the sale of the Target Canada Entities’ inventory, furniture, fixtures and equipment that was approved by the Court pursuant to an Order dated February 4, 2015;

Liquidation Sale has the meaning assigned to that term in Section 7.02(j).

Liquidation Sale means a so-called bulk sale, liquidation sale or "going out of business sale" conducted either by any Secured Party or a Grantor in respect to all or a substantial portion of such Grantor's Collateral following the occurrence and during the continuance of an Event of Default under, and as defined in, either the First Priority Debt Documents or Second Priority Debt Documents.

Liquidation Sale means, following the occurrence and during the continuance of any ABL Default, any sale or liquidation of the ABL Priority Collateral consented to by the ABL Agent for purposes of permitting the Grantors to obtain funds to permanently repay the ABL Obligations in whole or in part.

Liquidation Sale. , includes and means any closing-out sale, which is hereby defined as any offer to sell to the public or the sale to the public of goods, wares or merchandise upon the implied or direct holding out or representation that such sale is in anticipation of the ceasing, discontinuance and termination of a business at its present location.

Liquidation Sale means any sale in which the seller represents, either directly or indirectly, that any or all of the goods, wares or merchandise offered for sale are all or part of the former stock in trade of a defunct business which was theretofore conducted on the premises on which the sale is held. Without limiting the generality of the foregoing, "liquidation sale" includes any sale in connection with which the seller represents that he is liquidating all or part of the stock in trade of a business previously conducted on the premises on which the sale is being held. (Ord. 17-59. Passed 3-9-59.)