Permitted Dispositions definition
Permitted Dispositions means each of the following:
Permitted Dispositions means:
Permitted Dispositions means, as to the Borrower or any Guarantor, any of the following:
Examples of Permitted Dispositions in a sentence
Each Loan Party shall not, nor shall it permit any of its Subsidiaries to, sell, issue, assign, lease, license, transfer, abandon or otherwise dispose of any Equity Interests or any of its assets (including by an allocation of assets among newly divided limited liability companies pursuant to a “plan of division”), except for Permitted Dispositions or agree to do any of the foregoing.
More Definitions of Permitted Dispositions
Permitted Dispositions means any of the following:
Permitted Dispositions means (a) sales or other dispositions of Equipment that is substantially worn, damaged, or obsolete in the ordinary course of business, (b) sales of Inventory to buyers in the ordinary course of business, (c) the use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents, and (d) the licensing, on a non-exclusive basis, of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business.
Permitted Dispositions means (a) sales or other dispositions of Equipment that is substantially worn, damaged, or obsolete in the ordinary course of business, (b) sales of Inventory to buyers in the ordinary course of business (which, in the case of Borrowers, shall include seismic data exchanges consistent with past practice), (c) the use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents, and (d) the licensing, on a non-exclusive basis, of seismic data, patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business.
Permitted Dispositions means (a) the sale, transfer, lease or other disposition of assets in the Trust Estate, in the ordinary course of business and of inventory held in the ordinary course of business and (b) other sales, transfers, leases or other dispositions of assets in the Trust Estate, including entering into Space Leases; provided that, in each case, all applicable provisions of the Indenture Documents are complied with.
Permitted Dispositions means (a) sales or other dispositions by Borrower or its Subsidiaries of Equipment that is substantially worn, damaged, no longer used, surplus, or obsolete in the ordinary course of Borrower's or its Subsidiaries' business, (b) sales by Borrower or its Subsidiaries of Inventory, including Hydrocarbons, to buyers in the ordinary course of business, (c) the use or transfer of money or Cash Equivalents by Borrower or its Subsidiaries in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents, (d) the licensing by Borrower or its Subsidiaries, on a non-exclusive basis, of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of Borrower's or its Subsidiaries' business, (e) releases or surrenders (in accordance with the terms of the applicable lease) and sales or other dispositions of leasehold interests in properties with no Proved Reserves, (f) releases or surrenders (in accordance with the terms of the applicable lease) and sales or other dispositions of leasehold interests in properties with Proved Undeveloped Reserves to the extent Agent consents in its Permitted Discretion to such releases, surrenders, sales or dispositions, (g) Bridge Loan Dispositions, (h) Permitted PUD/PDNP Dispositions, (i) transfers or assignments of interests in Farmout Properties (as such term is defined in the Senior Notes Indenture) in accordance with the terms of Permitted Farmout Agreements (as such term is defined in the Senior Notes Indenture), (j) sales or other dispositions of properties or leasehold interests in properties with Proved Reserves, other than farmouts, with an aggregate PV-10 attributable to such reserves of less than $100,000, provided that the aggregate net cash proceeds received upon the consummation of such transaction pursuant to this clause (j) shall not exceed $500,000 in any 12 calendar month period, (k) the liquidation, winding up or dissolution of any Restricted Subsidiary of Borrower so long as Borrower does not and will not incur, directly or indirectly, any liabilities or other obligations (whether contingent or otherwise) for or in connection with any such liquidation, winding up or dissolution (other than reasonable and ordinary course ministerial costs, expenses, and attorneys' fees related thereto), (l) the merger or consolidation of any Restricted Subsidiary of Borrower into any other Restricted Subsidiary of Borrower, so long as there is no Default, Unmatured Defaul...
Permitted Dispositions means (a) the sale, lease, license, transfer or other disposition of inventory in the ordinary course of business, (b) the sale, lease, license, transfer or other disposition in the ordinary course of business of surplus, obsolete or worn out property no longer used or useful in the conduct of business of any Loan Party and its Subsidiaries, (c) any sale, lease, license, transfer or other disposition of property to any Loan Party or any Subsidiary; provided, that, if the transferor of such property is a Loan Party (i) the transferee thereof must be a Loan Party or (ii) to the extent such transaction constitutes an Investment, such transaction is permitted under Section 8.02, (d) granting licenses of IP Rights on a non-exclusive basis in the ordinary course of business to the extent (i) not interfering with the Business of the Borrower and its Subsidiaries and (ii) not resulting in a legal transfer of such IP Rights, (e) any Involuntary Disposition, (f) the sale, transfer, issuance or other disposition of a de minimis number of shares of the Equity Interests of a Foreign Subsidiary in order to qualify members of the governing body of such Subsidiary if required by applicable Law, (g) the abandonment or other disposition of IP Rights that are not material and are no longer used or useful in any material respect in the Business of the Borrower and its Subsidiaries, (h) licenses, sublicenses, leases or subleases (in each case, other than with respect to IP Rights or intellectual property) granted to third parties in the ordinary course of business and not interfering with the Business of the Borrower and its Subsidiaries, (i) dispositions of cash and Cash Equivalents in the ordinary course of business, (j) dispositions of less than fifty percent (50%) of the Equity Interests of a Subsidiary that is a Management Services Organization in connection with an Acquisition permitted under this Agreement or the termination of a Management Services Agreement, in each case, to the extent that the Loan Parties remain in compliance with Section 8.13; and (k) to the extent constituting a Disposition, Investments permitted under Section 8.02 (other than by reference to Section 8.05 or this definition (or any sub-clause thereof or hereof)) and Restricted Payments permitted under Section 8.06 (other than by reference to Section 8.05 or this definition (or any sub-clause thereof or hereof)).
Permitted Dispositions means (a) sales or other dispositions by Borrowers of Equipment that is substantially worn, damaged, or obsolete in the ordinary course of the applicable Borrower's business, (b) sales by Borrowers of Inventory to buyers in the ordinary course of business, (c) the use or transfer of money or Cash Equivalents by Borrowers in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents, (d) the licensing by Borrowers, on a non-exclusive basis, of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of the applicable Borrower's business, (e) the merger or consolidation of any wholly-owned Subsidiary with or into, the liquidation of any wholly-owned Subsidiary into, or the disposition of any or all of the assets of any wholly-owned Subsidiary to, any Borrower or any Guarantor (other than Holdings) so long as (i) no other provision of this Agreement would be violated thereby, (ii) Administrative Borrower gives Agent at least 30 days' prior written notice of such merger, consolidation, liquidation or disposition, (iii) Agent's rights in any of the Collateral, including, without limitation, the existence, perfection and priority of the Agent's Liens therein, are not adversely affected by such merger, consolidation, liquidation or disposition, (iv) Agent determines in its Permitted Discretion that such merger, consolidation, liquidation or disposition is not materially disadvantageous to the Lenders and (v) such Borrower or Guarantor is the surviving corporation, (f) the D-24 Production Line Transaction, PROVIDED, that (i) immediately before and after giving effect to such transaction no Default or Event of Default shall exist, (ii) no other provision of this Agreement would be violated thereby, (iii) the consideration received by AMTROL shall be in an amount at least equal to the appraised value of such equipment determined by Agent prior to the Closing Date and the proceeds shall consist solely of cash and (iv) the net cash proceeds of such sale or other disposition are applied pursuant to SECTION 2.4(C)(II), (g) the sale or other disposition of the stock or assets of AMTROL Germany so long as (i) immediately before and after giving effect to such transaction no Default or Event of Default shall exist, (ii) no other provisions of this Agreement would be violated thereby, (iii) Administrative Borrower gives Agent at least 30 days' prior written notice of such sale or other disposition, (iv) A...