Sale Notice Period definition
Examples of Sale Notice Period in a sentence
If, during the Sale Notice Period, the Borrower or the Collateral Manager notifies Bank that it intends to sell that Collateral Loan, then the Collateral Agent will not sell that Collateral Loan until the Borrower or the Collateral Manager has a reasonable period of time, not exceeding thirty (30) days (or such longer period as the Collateral Agent may agree in its sole discretion) (such period, the “Collateral Manager Sale Period”), to sell that Collateral Loan.
Licensor covenants and agrees that neither it nor any of the other Sellers will consummate any sale or other transfer of the ▇▇▇▇, this Agreement or any other rights with respect to the ▇▇▇▇ during a Sale Notice Period unless Licensee gives Licensor written notice of its intent not to exercise the Option during the relevant Sale Notice Period.
Prior to the expiration of the Sale Notice Period, Landlord may elect to either (i) require the Purchaser of the Principal Resort to purchase the Resort and to assume the Guaranty, in which case, contingent upon the purchase of the Resort and execution of the Guaranty, the sale of the Principal Resort shall be permitted, or (ii) to permit Vail to sell the Principal Resort, in which case Vail shall remain the Guarantor under the Guaranty and shall reaffirm its obligations thereunder.
Any such Sale Instruction shall be valid for any Sell-Down conducted within two weeks after the expiry of the Sale Notice Period, following which a Manager’s original Standing Instruction shall again apply.
As used herein, (i) the term "Sale Transaction" means a Stock Sale Transaction or an Asset Sale Transaction and (ii) the term "Sale Notice Period" means the period beginning on the date hereof and ending on the tenth anniversary of the date hereof.