Obsolete Assets definition

Obsolete Assets means assets, property or equipment that have been determined by the Company, in good faith, to no longer be useful in the operations or the business of the Company or a Restricted Subsidiary.
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Obsolete Assets has the meaning specified in Section 6.15(b).
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Obsolete Assets. : means assets whose material or technological obsolescence means that it no longer makes sense to use them for the productive or commercial process of the Issuer or the Group companies.
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Examples of Obsolete Assets in a sentence

  • Merge into or consolidate with any other entity; acquire all or substantially all of the assets of any other entity, or sell, lease, transfer or otherwise dispose of all or a substantial or material portion of Borrower’s or its Subsidiaries’ assets other than sales of inventory and Dispositions of Obsolete Assets in the ordinary course of business.

  • So long as no Event of Default shall have occurred and be continuing, the Company or any of its Subsidiaries may, without any release or consent by the Collateral Agent or the Trustee, sell or otherwise dispose of any Obsolete Assets subject to the Lien of the Security Documents, in an aggregate amount not to exceed, in fair market value, $2,000,000 in any year.

  • So long as no Event of Default shall have occurred and be continuing, the Company or any of its Subsidiaries may, without any release or consent by the Collateral Agent or the Trustee, sell or otherwise dispose of any Obsolete Assets subject to the Lien of the 101 Draft - January 14, 2004 Exhibit C Security Documents, in an aggregate amount not to exceed, in fair market value, $2,000,000 in any year.


More Definitions of Obsolete Assets

Obsolete Assets has the meaning specified in Section 6.15(b). Draft - January 14, 2004 Exhibit C
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Related to Obsolete Assets

  • Obsolete Inventory means items that have expired, are redundant or damaged;

  • Obsolete means a product that may be listed in national drug pricing compendia but is no longer available to be dispensed based on the expiration date of the last lot manufactured.

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Inventories means “Inventories” as defined in the Uniform System of Accounts, such as, but not limited to, provisions in storerooms, refrigerators, pantries and kitchens; beverages in wine cellars and bars; other merchandise intended for sale; fuel; mechanical supplies; stationery; and other expensed supplies and similar items.

  • Undepreciated Real Estate Assets as of any date means the cost (original cost plus capital improvements) of real estate assets of the Company and its Subsidiaries on such date, before depreciation and amortization, determined on a consolidated basis in accordance with GAAP.