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.

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 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 a Default or an Event of Default under, and as defined in, either the First Priority Debt Documents or Second Priority Financing Documents.

Examples of Liquidation Sale in a sentence

• 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.

• 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.

• 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.

• Subject to entry of the Approval Order, in addition to any other rights granted to Agent elsewhere in this Agreement, Agent shall be permitted to conduct the GOB Sale as a “going out of business”, “store closing”, “sale on everything”, “everything must go”, or similar themed sale throughout the Sale Term without compliance with any Liquidation Sale Laws.

• Liquidation, Sale or transfer of real estate assets either in full or part or dissolution can only occur upon the unanimous decision of the Board and approval of two-third voting members by ballot.

More Definitions of Liquidation Sale

Liquidation Sale shall have the meaning specified in Section 2.2.1(d).

Liquidation Sale means all going out of business, liquidation or store closing sales conducted by Borrower with respect to the Retail Inventory or any related sales of Other Assets of a particular Merchant pursuant to a particular Agency Agreement or Purchase Agreement.

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

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 a special sales event where predominately over production, end of line or other goods are sold at a discounted rate. (B/L 2020-125)