Project Disposition definition
Project Disposition means, with respect to any Project, (a) any sale, assignment or other Disposition of the Capital Stock of the applicable Project Company in respect of such Project to any Person other than a Loan Party, or (b) any sale, lease, license, transfer, assignment or other Disposition by the applicable Project Company in respect of such Project of all or any material portion of the assets or properties of such Covered Project Company, or of any rights under any Project Document, to any Person other than a Loan Party, but, in the case of this clause (b), excluding (i) sales of fuel cells or other inventory in the ordinary course of business, and (ii) sales or other Dispositions by the applicable Project Company in respect of such Project of worn out or defective equipment, or other equipment no longer used or useful to the Project that is promptly replaced by such Project Company with suitable substitute equipment of substantially the same character and quality and at least equivalent useful life and utility to the extent required by the Project or for performance under the Material Agreements to which such Project Company is a party.
Project Disposition means any sale, assignment, conveyance, transfer or other disposition of facilities under construction of the Issuer and its Restricted Subsidiaries as of the Issue Date (including the real estate related thereto) which are intended by the Issuer upon completion of construction to be repurchased or leased by the Issuer or one of its Restricted Subsidiaries or any business related, ancillary or complementary thereto; provided, that the consideration received for such assets shall be cash in an amount at least equal to the book value.
Project Disposition means any sale, assignment, conveyance, transfer or other disposition of facilities under construction and identified to the Arrangers as of the Agreement Execution Date (including the real estate related thereto) and which are intended upon completion of construction to be repurchased or leased by a Group Member and used in any business in which any Group Member was engaged on the Closing Date or any business related, ancillary or complementary thereto; provided, that the consideration received for such assets shall be cash in an amount at least equal to the book value thereof, the proceeds from such dispositions shall be used in a manner consistent with the financial model provided to the Lenders prior to the Agreement Execution Date and the other terms and conditions with respect thereto shall be reasonably satisfactory to the Administrative Agent in its reasonable discretion.
Examples of Project Disposition in a sentence
The Advisor shall receive a Project Disposition Fee, in connection with the Sale of a single Project, up to one-half of the Competitive Real Estate Commission, but in any case not in excess of 3% of the gross sales price of such Project (without reduction for any seller or other credits), less the amount of any sales or brokerage commission paid to any Affiliate of the Advisor in connection with such sale, exchange or other disposition ("Project Disposition Fee").
The Administrative Agent shall have received a certificate of the chief financial officer of the Parent certifying that the Parent shall have received Net Cash Proceeds from such Receivable Sale, Project Disposition, sale and leaseback or other arrangement in an amount not less than $225,000,000 less the Working Capital Improvement Amount.
The Advisor shall not receive a Project Disposition Fee, in connection with the sale, repayment or other disposition of loans or other investments of the Company.
The Loan Parties may deposit in the Equity Proceeds Account as and when received any Equity Proceeds and any Excess Project Disposition Proceeds, as determined by the Borrower (and any Equity Proceeds not so deposited shall be deposited into the Revenue Account).
Project Disposition Upon Condemnation, Damage or Destruction........................................................................
More Definitions of Project Disposition
Project Disposition means a Disposition of the type described in Section 5.21(a)(ii)(F).
Project Disposition means any sale, assignment, conveyance, transfer or other disposition of facilities under construction by Parent and its Restricted Subsidiaries as of the Issue Date (including the real estate related thereto) which are intended by Parent upon completion of construction to be repurchased or leased by Parent or one of its Restricted Subsidiaries or any business related, ancillary or complementary thereto; provided, that the consideration received for such assets shall be cash in an amount at least equal to the book value.
Project Disposition means any sale, assignment, conveyance, transfer or other disposition of facilities under construction by the Parent and its Restricted Subsidiaries as of the Issue Date (including the real estate related thereto) which are intended by the Parent upon completion of construction to be repurchased or leased by the Parent or one of its Restricted Subsidiaries or any business related, ancillary or complementary thereto; provided, that the consideration received for such assets shall be cash in an amount at least equal to the book value.
Project Disposition has the meaning assigned to it under Section 5.10(c).
Project Disposition means any sale, assignment, conveyance, transfer or other disposition of facilities under construction and identified to the Arrangers as of the Closing Date (including the real estate related thereto) and which are intended upon completion of construction to be repurchased or leased by the Borrower or any of its Restricted Subsidiaries and used in any business in which any Group Member was engaged on the Closing Date or any business related, ancillary or complementary thereto; provided, that the consideration received for such assets shall be cash in an amount at least equal to the book value thereof, the proceeds from such dispositions shall be used in a manner consistent with the financial model provided to the Lenders prior to the Closing Date and the other terms and conditions with respect thereto shall be reasonably satisfactory to the Administrative Agent in its reasonable discretion.
Project Disposition means any sale, assignment, conveyance, transfer or other disposition of facilities under construction of the Issuer and its Restricted Subsidiaries as of the 2030 Notes Issue Date (including the real estate related thereto) which are intended by the Issuer upon completion of construction to be repurchased or leased by the Issuer or one of its Restricted Subsidiaries or any business related, ancillary or complementary thereto; provided, that the consideration received for such assets shall be cash in an amount at least equal to the book value.
Project Disposition means the occurrence of any of the following: (i) any Disposition by the Borrower or any of its Subsidiaries of any Equity Interests in any Subsidiary of the Borrower (other than to the Borrower or another Subsidiary of the Borrower); (ii) any issuance of Equity Interests by any Subsidiary of the Borrower (other than to the Borrower or another Subsidiary of the Borrower); or (iii) any Disposition by the Borrower or any of its Subsidiaries of any material portion of any Project (other than to the Borrower or another Subsidiary of the Borrower).