Significant Asset Sale definition

Significant Asset Sale means each Asset Sale which generates Net Sale Proceeds of at least $10,000,000.

Significant Asset Sale means each Asset Sale (or series of related Asset Sales) which generates Net Sale Proceeds of at least $5,000,000.

Significant Asset Sale means the sale, transfer, lease or other disposition by Holdings or any Subsidiary to any person other than the Borrower or a Subsidiary Guarantor of all or substantially all of the assets of, or a majority of the Equity Interests in, a person, or a division or line of business or other business unit of a person.

Examples of Significant Asset Sale in a sentence

WRF shall give the Sellers notice of any Significant Asset Sale or Transfer Event upon the entering into of a binding agreement providing for such Significant Asset Sale or Transfer Event and the public announcement of the pendency of such Significant Asset Sale or Transfer Event.
In addition, solely for purposes of determining the Consolidated Fixed Charge Coverage Ratio, any Indebtedness incurred or repaid in connection with any Permitted Acquisition or Significant Asset Sale and any other Permitted Acquisitions or Significant Asset Sales that have been consummated during the period shall be assumed to have been incurred or repaid at the beginning of such period.
Within five (5) Business Days of any Significant Asset Sale by any one or more Loan Parties, the Revolving Credit Commitments shall automatically and permanently be reduced in an amount equal to the net cash proceeds of such Significant Asset Sale.
Notwithstanding the foregoing, no reduction of the Revolving Credit Commitments (or concomitant prepayment as required below) shall be required to the extent of those net cash proceeds from such Significant Asset Sale which Borrower certifies to the Agent that it reasonably expects to use to purchase substitute or replacement assets for use in the business of the Borrower or another Loan Party within one hundred eighty (180) days of the date of such Significant Asset Sale.
Notwithstanding the foregoing, no reduction of the Revolving Credit Commitments (or concomitant prepayment as required below) shall be required to the extent of those net cash proceeds from such Significant Asset Sale which Borrower certifies to the Agent that it reasonably expects to utilize, in a manner not inconsistent with the terms hereof after giving effect thereto, in the business of the Borrower or another Loan Party within one hundred eighty (180) days of the date of such Significant Asset Sale.

More Definitions of Significant Asset Sale

Significant Asset Sale means each Asset Sale which yields gross proceeds to the Company or any of its Subsidiaries (valued at the initial principal amount thereof in the case of non-cash proceeds consisting of notes or other debt securities and valued at Fair Market Value in the case of other non-cash proceeds) of at least $10,000,000.

Significant Asset Sale means each Asset Sale where the gross consideration received therefor by Holdings and its respective Subsidiaries (taking the Net Sale Proceeds therefrom plus the fair market value (as reasonably determined by the Borrower) of any non-cash consideration received) equals or exceeds $20,000,000.

Significant Asset Sale means the sale, transfer, lease or other disposition (whether in one transaction or a series of related transactions, but in each case only if the aggregate fair market value of the assets so sold exceeds 5% of Total Assets at the time of such sale, transfer, lease or other disposition) by Holdings, the U.S. Borrower or any Subsidiary to any person other than Holdings, the U.S. Borrower or any Subsidiary of all or substantially all of the assets of, or a majority of the Equity Interests in, a person, or a division or line of business or business unit of a person.

Significant Asset Sale means the sale, transfer, lease or other disposition by Parent, the Borrower or any Subsidiary to any person other than the Borrower or a Subsidiary Guarantor of all or substantially all of the assets of, or a majority of the Equity Interests in, a person, or a division or line of business or other business unit of a person.

Significant Asset Sale means each Asset Sale (or series of related Asset Sales) which generates Net Sale Proceeds of at least $2,500,000.

Significant Asset Sale means each Asset Sale (and any Casualty Event) with respect to Collateral resulting in net cash proceeds in excess of 10% of the Borrowing Base.

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