Third Party Disposal definition

Third Party Disposal means the disposal of an Obligor to a person which is not a member of the Restricted Group where that Disposal is permitted or not prohibited under clause 6 (Limitation on Asset Sales) of Schedule 15 (Incurrence Covenants Schedule) and the Intercreditor Agreement or made with the prior written consent of the Majority Lenders.

Third Party Disposal means the disposal of an Obligor to a person which is not a member of the Group (and the Borrowers have confirmed this is the case) where that disposal is permitted under Clause 28.8 (Disposals) or made with the approval of the Majority Lenders.

Third Party Disposal has the meaning given to it in Clause 27.3 (Resignation of a Guarantor).

Examples of Third Party Disposal in a sentence

• The resignation of that Guarantor shall not be effective until the date of the relevant Third Party Disposal, disposal of Charged Property, Permitted Reorganisation or other such event contemplated by paragraph (a) above, at which time that company shall cease to be a Guarantor and shall have no further rights or obligations under the Finance Documents as a Guarantor.

• As at June 30, 2018, €55,000 ($64,245) had been drawn from this credit facility (December 31, 2017, €82,000 ($98,227)).

• If the Loan Party is or is proposed to be the subject of a Third Party Disposal then any resignation of that Loan Party shall become effective only on the making of that disposal.

• Capital Cost - Cost incurred for the construction and startup of a facility.

• The resignation of a Subsidiary Guarantor pursuant to paragraph (a)(i) above shall not be effective until the date of the relevant Third Party Disposal at which time that company shall cease to be a Subsidiary Guarantor and shall have no further rights or obligations under the Finance Documents as a Subsidiary Guarantor.

More Definitions of Third Party Disposal

Third Party Disposal means the disposal of an Obligor to a person which is not a member of the Borrower Security Group where that disposal is a Permitted Disposal.

Third Party Disposal has the meaning given to such term in Clause 28 (Changes to the Obligors).

Third Party Disposal has the meaning given to that term in paragraph (a) of Clause 27.3 (Resignation of a Borrower).

Third Party Disposal has the meaning given in clause 18.10; Title Claim means a claim for a breach of any of the Title Warranties;

Third Party Disposal means the disposal of the Equity Interests in a Guarantor (other than Holdco, the Parent, the Company, WXAT BVI or any Material Company falling within any of paragraphs (f), (g), (h) and (i) of the definition of “Material Company”) to a person which is not a Transaction Obligor, a Holdco Group Member or a Group Member where that disposal (A) is permitted under Clause 23.14 (Disposals) or made with the approval of the Majority Lenders (and the Borrower has confirmed this is the case) and (B) does not constitute a Distressed Disposal (as defined in the Intercreditor Agreement).

Third Party Disposal means the (direct or indirect) disposal of an Obligor to a person which is not a member of the Group where that disposal constitutes a Permitted Disposal or a Permitted Transaction or is made with the approval of the Majority Lenders (and the Parent has confirmed this is the case). 166 (b) If a Borrower is subject to a Third Party Disposal or (where such Borrower will cease to exist) a Permitted Merger, the Parent may request that a Borrower (other than the Original Borrower) ceases to be a Borrower by delivering to the Agent a Resignation Letter.

Third Party Disposal means the disposal of a member of the Group to a person which is not a member of the Group where that disposal is permitted under Clause 23.17 (Disposals) of the Super Senior RCF, Clause 14.6 (Disposal of Assets) of the Terms and Conditions and Clause 17.2 (Release and granting of security upon disposals) of the Intercreditor Agreement or made with the approval of the Majority Lenders (as defined in the Super Senior RCF) (and the Issuer has confirmed this is the case).