surplus assets definition

surplus assets means the assets after payment of the debts and liabilities remaining on a winding-up of the incorporated association and the costs, charges and expenses of the winding-up;

surplus assets means any assets of the Company that remain after paying all debts and other liabilities of the Company, including the costs of winding up.

surplus assets means the assets of a company remaining after the payment of creditors' claims and available for distribution in accordance with Part XI of the Companies Act 1984 prior to its removal from the register of companies;

Examples of surplus assets in a sentence

• As of the Transfer of Operational Control, there shall be no Encumbrances on any of the Related Surplus Assets, other than Encumbrances that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect.

• Tacoma Power and Rainier agree to waive compliance with Article 6 of the Uniform Commercial Code as adopted in each of the jurisdictions in which any of the Related Surplus Assets are located to the extent that such Article is applicable to the transactions contemplated hereby.Governing Law.

• To the extent that the names, marks, logos or indicia of Click! Business, (the “Click! Marks”), are incorporated in or on the Related Surplus Assets, Rainier may continue to use the Click! Marks pursuant to the terms of the license set forth in Exhibit P to the IRU Agreement.

• With respect to operation of the Tacoma Power Commercial System and ownership of the Related Surplus Assets, any Liabilities that accrue before the Transfer of Operational Control shall not be assumed by Rainier (“Excluded Liabilities”).

• At the Transfer of Operational Control (after giving effect to the Transaction), Rainier will have good and marketable title to the Related Surplus Assets free and clear of any Encumbrances, other than those created by Rainier or its Affiliates.

More Definitions of surplus assets

surplus assets means the assets of a company remaining after the payment of creditors’ claims and available for distribution before the removal of its name from the register of companies;

surplus assets means the Assets of a Foundation, if any, remaining after its dissolution;

surplus assets means personal property of the Company and its Subsidiaries which has been used in the business of the Company and its Subsidiaries for not less than one year and which is sufficiently immaterial to the conduct of the business of the Company and its Subsidiaries that the contribution thereof to any Permitted Joint Venture would not result in the acquisition by the Company or any of its Subsidiaries of a substantially similar item of personal property during the period of one year following the date of such contribution.

surplus assets means Goods, stocks and other assets, which are obsolete, damaged or surplus to that Department’s needs.

surplus assets means the assets of a company remaining after the payment of creditors’ claims following liquidation of the company and available for distribution in accordance with the articles of incorporation of the company and this Act;

surplus assets means the assets of a company remaining after the

surplus assets means any assets of the Party that remain after paying all debts and other liabilities of the Party, including the costs of winding up.