Packaging Transaction definition

Packaging Transaction the transaction in which all of the following steps occur: (a) the Company will transfer its packaging business to Cryovac, (b) Grace Delaware and Cryovac will enter into new bank borrowings of approximately $1,200,000,000 and the proceeds will be transferred to the Company, (c) the Company will distribute the stock of Cryovac to Grace Delaware, (d) Grace Delaware will contribute the stock of the Company to New Grace, and (e) Grace Delaware will distribute to its public shareholders the stock of New Grace. `Parent': Grace Delaware, until such time as Grace Delaware in connection with the Packaging Transaction no longer directly or indirectly owns all of the stock of the Company, and thereafter, New Grace, except that for purposes of Section 12, the term Parent shall include New Grace and, until the Release Date, Grace Delaware. `Release Date': the date on which the Administrative Agent executes the release contemplated by subsection 13.16.
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Packaging Transaction means a transaction or series of transactions whereby the Company's flexible packaging business is separated from the other businesses presently conducted by the Company and its subsidiaries (the "Non-Packaging Businesses"), and the Non-Packaging Businesses commence to be conducted by Grace Specialty Chemicals, Inc. (to be renamed W. R. Grace & Co.) and its subsidiaries. References herein to the "Successor Corporation" refer to Grace Specialty Chemicals, Inc. (to be renamed W. R. Grace & Co.).
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Examples of Packaging Transaction in a sentence

  • The Banks and the Administrative Agent hereby agree that the waivers contained in Section 3.1 of this Amendment shall have effect for purposes of Section 8.2(b), Section 10(c) and Section 10(d) of the Credit Agreement, and hereby waive application of the provisions of Section 10(i) of the Credit Agreement solely insofar as the steps taken in connection with the Packaging Transaction might otherwise be deemed to result in a default under Section 10(i).

  • As of the date the Packaging Transaction occurs, the Successor Corporation shall expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would have been required to perform this Agreement if the Packaging Transaction had not taken place.

Related to Packaging Transaction

  • Factoring Transaction means any transaction or series of transactions that may be entered into by the Issuer or any Restricted Subsidiary pursuant to which the Issuer or such Restricted Subsidiary may sell, convey, assign or otherwise transfer Receivables Assets (which may include a backup or precautionary grant of security interest in such Receivables Assets so sold, conveyed, assigned or otherwise transferred or purported to be so sold, conveyed, assigned or otherwise transferred) to any Person that is not a Restricted Subsidiary; provided that any such Person that is a Subsidiary meets the qualifications in clauses (1) through (3) of the definition of “Receivables Subsidiary.”

  • Hedging Transactions means, with respect to any or all of the Purchased Loans, any short sale of U.S. Treasury Securities or mortgage-related securities, futures contract (including Eurodollar futures) or options contract or any interest rate swap, cap or collar agreement or similar arrangements providing for protection against fluctuations in interest rates or the exchange of nominal interest obligations, either generally or under specific contingencies, entered into by Seller or the underlying obligor with respect to any Purchased Loan and pledged to Seller as collateral for such Purchased Loan, with one or more counterparties whose unsecured debt is rated at least AA (or its equivalent) by any Rating Agency or, with respect to any Hedging Transaction pledged to Seller as additional collateral for a Purchased Loan, such other rating requirement applicable to such Hedging Transaction set forth in the related Purchased Loan Documents or which is otherwise reasonably acceptable to Buyer; provided that Seller shall not grant or permit any liens, security interests, charges, or encumbrances with respect to any such hedging arrangements for the benefit of any Person other than Buyer.

  • Closing Transactions has the meaning set forth in Section 11.8(a) of these Bylaws.

  • Recurring Transaction means a regular payment collected from your Card by an originator, in line with your instruction.

  • Restructuring Transactions means the transactions described in Article IV.B of the Plan.

  • Restructuring Transaction means a tax free distribution under section 355 of the internal revenue code and includes tax free transactions under section 355 of the internal revenue code that are commonly referred to as spin offs, split ups, split offs, or type D reorganizations.

  • Financing Transaction means a transaction in which a licensed provider obtains financing from a financing entity including any secured or unsecured financing, any securitization transaction, or any securities offering which is either registered or exempt from registration under federal and state securities law.

  • Financing Transactions means the execution, delivery and performance by each Loan Party of the Loan Documents to which it is to be a party, the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder.

  • Competing Transaction has the meaning set forth in Section 6.1(n).

  • securities lending transactions means transactions whereby a Sub-Fund lends its Securities to a security-borrowing counterparty for an agreed fee.

  • Export Transactions Net Activity means the aggregate net total, resulting from Export Transactions, of (i) Spot Market Energy charges, (ii) Transmission Congestion Charges, and (iii) Transmission Loss Charges, calculated as set forth in Operating Agreement, Schedule 1 and the parallel provisions of Tariff, Attachment K-Appendix. Export Transactions Net Activity may be positive or negative.

  • Hedging Transaction means any short sale (whether or not against the box) or any purchase, sale or grant of any right (including, without limitation, any put or call option) with respect to any security (other than a broad-based market basket or index) that includes, relates to or derives any significant part of its value from the Common Stock.

  • Minimum Transaction Size means the minimum value of subsequent subscriptions,

  • Borrower Products means all products, software, service offerings, technical data or technology currently being designed, manufactured or sold by Borrower or which Borrower intends to sell, license, or distribute in the future including any products or service offerings under development, collectively, together with all products, software, service offerings, technical data or technology that have been sold, licensed or distributed by Borrower since its incorporation.

  • Proposed Transaction is defined in Section 6.2(a).

  • Securities Financing Transactions Regulation means Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on transparency of securities financing transactions and of reuse and amending Regulation (EU) No 648/2012;

  • Roll-Up Transaction means a transaction involving the acquisition, merger, conversion or consolidation either directly or indirectly of the Company and the issuance of securities of a Roll-Up Entity to the holders of Common Shares. Such term does not include:

  • Manufactured-home transaction means a secured transaction:

  • Foster care placement means placement of a child through (i) an agreement between the parents or

  • Pawn transaction means the same as that term is defined in Section 13-32a-102.

  • SPAC Transaction means a transaction or series of related transactions by merger, consolidation, share exchange or otherwise of the Company with a publicly traded “special purpose acquisition company” or its subsidiary (collectively, a “SPAC”), immediately following the consummation of which the common stock or share capital of the SPAC or its successor entity is listed on the Nasdaq Stock Market, the New York Stock Exchange or another exchange or marketplace approved by the Board of Directors, including a majority of the Preferred Directors.

  • Qualifying Transaction means a transaction where a CPC acquires Significant Assets, other than cash, by way of purchase, amalgamation, merger or arrangement with another Company or by other means.

  • Drag-Along Transaction has the meaning set forth in Section 4(d)(i) of the Stockholder Agreement.

  • FICASH III Transaction means a repurchase transaction in which the Repurchase Date is the Banking Day next following the Sale Date and for which securities issued by the government of the United States of America that are direct obligations of the government of the United States of America shall constitute Eligible Securities.

  • Package Transaction means a transaction involving two or more instruments:

  • Securities Financing Transactions means collectively securities lending transactions, sale and repurchase transactions and reverse repurchase transactions.