Permitted Asset Sales definition

Permitted Asset Sales means:

Permitted Asset Sales means all sales and other dispositions by the Company and its Subsidiaries of tangible assets (other than the sale of inventory, cylinders and other equipment in the ordinary course of business and other than Short-Term Real Estate Sales) permitted by the terms of the Loan Documents.

Permitted Asset Sales means sales and dispositions of assets that are deemed appropriate by the Loan Parties for fair market value not to exceed $30,000,000 in any fiscal year and for which not less than seventy-five percent (75%) of the aggregate purchase price is paid in cash.

Examples of Permitted Asset Sales in a sentence

• Prior to the Collateral Release Date, the Company shall not, and shall not permit any Subsidiary Guarantor to, Dispose of its respective assets, except Permitted Asset Sales or in a transaction that complies with Section 7.7.

• No Company Entity shall sell, transfer, convey, lease or otherwise dispose of any assets other than Permitted Asset Sales or (in the case of leases) as provided in Section 4.08; provided that, notwithstanding the foregoing, the sale, lease, transfer, conveyance or other disposition of all or substantially all of the assets of the Company or any Project Company will be governed by the first paragraph of this Section 4.24.

• In addition, notwithstanding anything herein to the contrary, for determining compliance with Section 13.2, including without limitation with respect to any Permitted Advances and Investments, Permitted Asset Sales, Permitted Distributions and Permitted Management Fees, no Default or Event of Default shall be deemed to have occurred as a result of changes in exchange rates occurring after the date such item is incurred, made, paid or otherwise.

• If the Borrower or any Restricted Subsidiary completes an Asset Sale (other than up to an aggregate $10,000,000 from the Net Cash Proceeds from Permitted Asset Sales) (the “ Specified Asset Sale Proceeds ”)) or suffers a Casualty Event then the Borrower shall, no later than three (3) Business Days following the receipt of Net Cash Proceeds from such Asset Sale or Casualty Event, prepay the Loans in an amount equal to 100% of the Net Cash Proceeds received from such Asset Sale or Casualty Event.

More Definitions of Permitted Asset Sales

Permitted Asset Sales means any sales or other dispositions of assets (other than (i) sales or other dispositions of Collateral or (ii) sales or other dispositions of Specified Aircraft (other than the Specified Aircraft Transactions)) by Holdings or any of its Subsidiaries, whether or not in the ordinary course of business; provided that unless otherwise agreed by the Required Lenders, the aggregate consideration for all such sales or other dispositions received by Holdings or any of its Subsidiaries shall not exceed $20,000,000 during the term of this Agreement; provided further that the foregoing cap shall be inapplicable to any consideration received by a Loan Party in connection with the Specified Aircraft Transactions.

Permitted Asset Sales means sales or other Dispositions of:

Permitted Asset Sales means the sale of the Company’s and/or its Subsidiaries’ (a) ISDN client line of products and assets directly associated therewith; (b) VPN line of products and assets directly associated therewith; (c) X.25 line of products and assets directly associated therewith, or (d) any combination of or subset of (a) and/or (b) and/or (c).

Permitted Asset Sales means, collectively, (a) dispositions of all or substantially all of the assets of Borrower and its Subsidiaries that are permitted under Section 5.2(b), (b) dispositions of assets required to be sold to conform with laws or governmental regulations, (c) dispositions of short-term, readily marketable investments purchased for cash management purposes with funds not representing the proceeds of other asset sales, (d) dispositions of assets in addition to the foregoing if the proceeds thereof are retained by Borrower as cash or Cash Equivalents or used to retire Debt of Borrower (other than Debt that is subordinated to the Obligations) and its Subsidiaries, and (e) dispositions of assets in addition to the foregoing if, on a pro forma basis, the aggregate net book value of all such dispositions during the most recent 12-month period would not exceed 10% of Consolidated Net Tangible Assets computed as of the end of the most recent quarter preceding the disposition, provided that any such dispositions will be disregarded for purposes of such 10% limitation (but, for the avoidance of doubt, be deemed to be Permitted Asset Sales) if the net proceeds thereof are invested in assets in similar or related lines of business (including geographic extensions thereof) of Borrower and its Subsidiaries.

Permitted Asset Sales means (a) sales, leases, assignments, transfers or disposals of, in one or any series of related transactions, (i) all or any portion of Borrower's equipment (except for items included in clause (ii) of this definition), whether now owned or hereafter acquired, including transfers to Subsidiaries, which, in the aggregate, do not exceed $1,000,000.00 in any twelve month period, and (ii) Borrower's offshore platforms that have been

Permitted Asset Sales means (a) sales, leases, assignments, transfers or disposals of, in one or any series of related transactions, (i) all or any portion of Borrower's assets (except for items included in clause (ii) of this definition), whether now owned or hereafter acquired, including transfers to Subsidiaries, which, in the aggregate, do not exceed $10,000,000.00 in any rolling four quarter period, and (ii) Borrower's offshore platforms that have been abandoned or dismantled; and (b) sales of Hydrocarbons in the ordinary course of business.

Permitted Asset Sales means assets sales permitted by Section 7.08(o).