Permitted Disposition LMA definition

Permitted Disposition LMA means an LMA entered into in connection with, and in anticipation of, a Permitted Station Disposition so long as no Default or Event of Default shall be continuing or shall result from entering into such LMA.
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Examples of Permitted Disposition LMA in a sentence

  • Borrower will not, and will not permit any of the other Obligors to, suspend or go out of a substantial portion of its business except in connection with a Permitted Disposition or a Permitted Disposition LMA.

  • If Borrower fails to make the foregoing election at the time of the consummation of a Permitted Disposition LMA, it shall be deemed to have elected to permanently reduce the Maximum Revolver Amount in accordance with clause (a) above.

  • In the event such Permitted Disposition LMA is consummated, Borrower must remit the Net Cash Proceeds to Agent on the first Business Day after the date or dates of their receipt by Borrower to be applied in accordance with Section 2.4(b) without penalty or premium (unless Borrower has elected to terminate this Agreement in connection with such prepayment).

  • Borrower agrees that at least 2 Business Days prior to its execution of any Permitted Disposition LMA (the "LMA Execution Date"), Borrower shall deliver to Agent a certificate executed the chief financial officer of Borrower, in form and substance satisfactory to Agent, setting forth an estimate of the Net Cash Proceeds to be received by the Obligors as a result of entering into such Permitted Disposition LMA.

  • If Borrower fails to make the foregoing election at the time of the consummation of a Permitted Disposition, Permitted Swap or Permitted Disposition LMA, it shall be deemed to have elected to apply such Net Cash Proceeds to repay the Senior Loan Indebtedness and, once paid in full, the Obligations.

  • Borrower agrees that at least 2 Business Days prior to its execution of any Permitted Disposition LMA (the "LMA Execution Date"), Borrower shall deliver to Agent a certificate executed the chief financial officer of Borrower, in form and substance reasonably satisfactory to Agent, setting forth an estimate of the Net Cash Proceeds to be received by the Obligors as a result of entering into such Permitted Disposition LMA.

  • If Borrower fails to make the foregoing election at the time of the consummation of a Permitted Disposition, Permitted Swap or Permitted Disposition LMA, it shall be deemed to have elected to apply such Net Cash Proceeds to the outstanding Advances and to permanently reduce the Maximum Revolver Amount in accordance with clause (i) above.