Substantial Assets definition

Substantial Assets means assets sold or otherwise disposed of in a single transaction or a series of related transactions representing 25% or more of the consolidated assets of the Borrower and its Consolidated Subsidiaries, taken as a whole.

Substantial Assets means assets (other than Duke Energy International, Inc., Duke Energy North America, LLC and Crescent Resources, LLC) sold or otherwise disposed of in a single transaction or a series of related transactions representing 25% or more of the consolidated assets of the Borrower and its Consolidated Subsidiaries, taken as a whole.

Substantial Assets has the meaning set forth in Section 9.04(d).

Examples of Substantial Assets in a sentence

• The Borrower will not (i) consolidate or merge with or into any other Person or (ii) sell, lease or otherwise transfer, directly or indirectly, Substantial Assets to any Person (other than a Subsidiary of the Borrower); provided that the Borrower may merge with another Person if the Borrower is the Person surviving such merger and, after giving effect thereto, no Default shall have occurred and be continuing.

• Such Borrower will not (i) consolidate or merge with or into any other Person or (ii) sell, lease or otherwise transfer, directly or indirectly, Substantial Assets to any Person (other than a Subsidiary of such Borrower); provided that such Borrower may merge with another Person if such Borrower is the Person surviving such merger and, after giving effect thereto, no Default shall have occurred and be continuing.

• The Chief Financial Officer and Treasurer shall keep and maintain, or cause to be kept and maintained, adequate and correct accounts of the properties and business transactions of the Corporation, including accounts of its assets, liabilities, receipts, disbursements, gains, losses, capital, surplus and shares.

• For purposes of the preceding Change in Ownership, Change in Effective Control and Change in Ownership of Substantial Assets, persons are considered to be acting as a group when such persons are owners of an entity that enters into a merger, consolidation, purchase or acquisition of stock, or a similar business transaction with the Company.

• The Borrower will not (i) consolidate or merge with or into any other Person or (ii) sell, lease or otherwise transfer, directly or indirectly, Substantial Assets to any Person (other than a Subsidiary); PROVIDED that the Borrower may merge with another Person if the Borrower is the corporation surviving such merger and, after giving effect thereto, no Default shall have occurred and be continuing.

More Definitions of Substantial Assets

Substantial Assets means assets having a fair market value that, or assets to be acquired for a consideration that, equals or exceeds 10% of the amount of the Consolidated Tangible Net Assets of the Company, as reflected on the most recent audited consolidated balance sheet of the Company existing at the time the Board makes the determination whether or not to approve, adopt or authorize the Significant Transaction involved. The term "Consolidated Tangible Net Assets" means, as of any date of determination, the amount of total assets on a consolidated balance sheet of the Company, determined in accordance with generally accepted accounting principles in the United States as in effect from time to time consistently applied ("GAAP"), less the sum of the amounts of all intangible assets determined in accordance with GAAP.

Substantial Assets means assets valued in excess of $50,000.

Substantial Assets means assets having a gross fair market value in excess of, or assets to be acquired for consideration in excess of, 10% of the Consolidated Total Capitalization of the Company and its subsidiaries, as reflected on the consolidated balance sheet of the Company and its subsidiaries as at the end of the last full fiscal quarter prior to the date such determination is made.

Substantial Assets has the meaning set forth in Section 10.04(e).

Substantial Assets means Assets that are Material;

Substantial Assets means Real Property Assets (other than "Replaced Assets," as defined below) of the Borrower, the REIT and any other Consolidated Entity which, in the aggregate over any period of 36 consecutive months, either (i) have a Market Value that exceeds 15% of the Market Value of all Real Property Assets or (ii) contributed more than 15% of the consolidated Net Operating Income of the Borrower, the REIT and the other Consolidated Entities derived from all Real Property Assets. The determinations in clauses (i) and (ii) above of the Market Value or Net Operating Income of any Real Property Asset that is sold, transferred, leased or otherwise disposed of shall be made at the time of such sale, lease, transfer or other disposition based upon the then most recently available financial statements. The determination in clauses (i) and (ii) above of the Market Value of all Real Property Assets and Net Operating Income of the Borrower, the REIT and the other Consolidated Entities from all Real Property Assets shall be made at the time that the determination of "Substantial Assets" is made hereunder, based upon the most recently available financial assets. For purposes of the foregoing, a "Replaced Asset" means any Real Property Asset that is sold, leased, transferred or otherwise disposed of within the applicable 36-month period if and to the extent that, within the six (6) month period following the consummation of such sale, lease, transfer or other disposition, the Borrower, the REIT or any Consolidated Entity acquires one or more similar Real Property Assets; in such event, the Real Property Asset so sold, leased, transferred or otherwise disposed of shall be deemed a "Replaced Asset" to the extent of the Market Value and Net Operating Income of the replacement Real Property Asset acquired during such six-month period, as determined at the time that any determination of "Substantial Assets" is made hereunder, based upon the most recently available financial statements.

Substantial Assets means assets sold or proposed to be sold outside the ordinary course of business of the Borrower and its Consolidated Subsidiaries (including but not limited to sale of a Subsidiary or substantially all the assets of a Subsidiary), in one or more related or unrelated transactions during the term of this Agreement having an aggregate book value greater than 25% of the consolidated assets of the Borrower and its Consolidated Subsidiaries as at June 30, 1995.