Permitted Divestment definition

Permitted Divestment means a sale by one or more Group Companies of one or several of the Group's business areas or sub-segments thereof (or all or substantially all assets belonging to such business area or sub-segment thereof) on arm's length terms and conditions against all-cash consideration, through an asset sale and/or through a sale of shares in different Group Companies operating certain sub-segments of the different business areas, other than the Group's Industrial Cleaning business area. ”Person” means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, unincorporated organisation, government, or any agency or political subdivision thereof or any other entity, whether or not having a separate legal personality. ”Permitted Debt” means any Financial Indebtedness:
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Permitted Divestment means a situation where a Group Company sells, transfers or otherwise disposes of (i) shares in any Property Company, (ii) all or substantially all of any Property Company’s assets or operations and/or (iii) any Commercial Buildings, to any Person, provided that:
Sample 1
Permitted Divestment means a sale by one or more Group Companies of one or several of the Group's business areas or sub-segments thereof (or all or substantially all assets belonging to such business area or sub-segment thereof) on arm's length terms and conditions against all- cash consideration, through an asset sale and/or through a sale of shares in different Group Companies operating certain sub-segments of the different business areas, other than the Group's Industrial Cleaning business area. (b) The definition for Nominal Amount to be amended by the addition of "or Clause 8.8 (Mandatory partial redemption due to a Permitted Divestment)" at the end of the definition so as to read as follows: "means in respect of each Note the Initial Nominal Amount, less the aggregate amount by which that Note has been redeemed in part pursuant to Clause 8.4 (Voluntary/Mandatory partial redemption (call option)) or Clause 8.8 (Mandatory partial redemption due to a Permitted Divestment)."(c) A new Clause 8.8 (Mandatory partial redemption due to a Permitted Divestment) to be added to the Terms and Conditions and to read as follows:
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Examples of Permitted Divestment in a sentence

  • As such amount also includes net proceeds received from the Demolition Sale, the Issuer requests that it will not be obliged to apply the net proceeds received from the Demolition Sale towards a mandatory partial redemption in accordance with Clause 8.8 (Mandatory partial redemption due to a Permitted Divestment) of the existing Terms and Conditions.

  • A Group Company ceases to carry on its business (except if due to (i) a permitted merger or demerger as stipulated in (f) above, (ii) a solvent liquidation of a Group Company other than the Issuer or(iii) a Permitted Divestment) and provided, in relation to a discontinuation of a Group Company other than the Issuer, that such discontinuation is likely to have a Material Adverse Effect.

  • For the avoidance of doubt, any Permitted Divestment shall not be deemed to be a substantial change to the general nature of the business as carried out by the Group on the Issue Date.

  • The Issuer shall not, and shall procure that none of its Subsidiaries will, sell, transfer or otherwise dispose of shares in any Property Company or of all or substantially all of its or any Property Company’s assets or operations or of any Commercial Buildings, to any Person not being the Issuer or any Property Company, unless the transaction constitutes a Permitted Divestment.

Related to Permitted Divestment

  • Permitted Disposition means any of the following:

  • Permitted Disposal means any sale, lease, licence, transfer or other disposal:

  • Permitted Dispositions means each of the following:

  • Permitted Dividend has the meaning provided in Section 6.1(d).

  • Permitted Distribution means any of the following:

  • Permitted Dividends means dividends or distributions made by the Company on its Class A Shares, and, without duplication, the Operating Partnerships to fund such dividends or distributions, annually in an aggregate amount equal to not less than 20% of the Company’s annual Distributable Earnings or more than 30% of Distributable Earnings; provided, that, if the minimum amount of dividends or distributions eligible to be made hereunder would be $1.00 or less per Class A Share, then up to $1.00 per Class A Share (subject to appropriate adjustment in the event of any equity dividend, equity split, combination or other similar recapitalization with respect to the Class A Shares after the Issuance Date).

  • Permitted Distributions means the following Distributions:

  • Permitted Debt means any Financial Indebtedness:

  • Specified Disposition means any disposition of all or substantially all of the assets or Equity Interests of any Subsidiary of the Borrower or any division, business unit, product line or line of business.

  • Permitted Transaction means any transaction involving (i) a Swap that is not a Required Transaction or (ii) a Required Transaction that is a component of a Covered Package Transaction.

  • Qualified disposition means a Disposition or a series of related Dispositions in which the consideration received by the Credit Parties is equal to or greater than $50,000,000.

  • Permitted Assets means any and all properties or assets that are used or useful in a Permitted Business (including Capital Stock in a Person that is a Restricted Subsidiary and Capital Stock in a Person whose primary business is a Permitted Business that shall become a Restricted Subsidiary immediately upon the acquisition of such Capital Stock by the Issuer or by a Restricted Subsidiary, but excluding any other securities).

  • Permitted Transactions has the meaning set forth in Section 13(B).

  • Permitted Asset Sale means any Asset Sale that is permitted under Section 6.8.

  • Permitted Restricted Payments means any of the following Restricted Payments made by:

  • Permitted Number means one (1) unless otherwise indicated under a valid license (e.g. volume license) granted by Investintech or agreed to in writing by Investintech.

  • Permitted Investment means an Investment by the Company or any Restricted Subsidiary in:

  • Permitted Repurchases means the repurchase by the Corporation of shares of Common Stock held by employees, officers, directors, consultants, independent contractors, advisors, or other persons performing services for the Corporation or a subsidiary that are subject to restricted stock purchase agreements or stock option exercise agreements under which the Corporation has the option to repurchase such shares: (i) at cost, upon the occurrence of certain events, such as the termination of employment or services; or (ii) at any price pursuant to the Corporation’s exercise of a right of first refusal to repurchase such shares.

  • permitted hours means the periods specified for each parking place during which waiting by vehicles of a specific class is permitted as specified on the Plans;

  • Permitted Discretion means a determination made in good faith and in the exercise of reasonable (from the perspective of a secured asset-based lender) business judgment.

  • Permitted Affiliate Transactions means the following:

  • Permitted Affiliate means with respect to any Person (a) any Person that directly or indirectly controls such Person, and (b) any Person which is controlled by or is under common control with such controlling Person. As used in this definition, the term “control” of a Person means the possession, directly or indirectly, of the power to vote eighty percent (80%) or more of any class of voting securities of such Person or to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

  • Restricted Distribution means as to any Person (i) any dividend or other distribution on any equity interest in such Person (except those payable solely in its equity interests of the same class) or (ii) any payment on account of (a) the purchase, redemption, retirement, defeasance, surrender or acquisition of any equity interests in such Person or any claim respecting the purchase or sale of any equity interest in such Person or (b) any option, warrant or other right to acquire any equity interests in such Person.

  • Special purpose spray adhesive means an aerosol adhesive that meets any of the following definitions:

  • Permitted Asset Disposition means (i) any Asset Disposition permitted by Section 8.5 and (ii) any Excluded Asset Disposition.

  • Permitted Business Investment means any Investment made in the ordinary course of, and of a nature that is or shall have become customary in, the Oil and Gas Business including investments or expenditures for actively exploiting, exploring for, acquiring, developing, producing, processing, gathering, marketing or transporting oil, natural gas or other Hydrocarbons and minerals through agreements, transactions, interests or arrangements which permit one to share risks or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives customarily achieved through the conduct of the Oil and Gas Business jointly with third parties including: