Asset Disposition

Asset Disposition. Means any sale, lease (other than operating leases entered into in the ordinary course of business), transfer or other disposition (or series of related sales, leases, transfers or dispositions) by the Company or any of its Subsidiaries, including any disposition by means of a merger, consolidation or similar transaction (each referred to for the purposes of this definition as a "disposition") of any assets of the Company or any of its Subsidiaries other than (a) the sale or other disposition... of obsolete, uneconomical, negligible, worn-out or surplus assets in the ordinary course of business and in a commercially reasonable manner (including but not limited to equipment and intellectual property) so long as the proceeds from such sale or other disposition are applied to replace or upgrade the assets of the Company or its Subsidiaries or to repay the Senior Debt or amounts outstanding under the Debentures, (b) the sale of Inventory in the ordinary course of business for fair value and on an arms'-length basis, (c) the sale, lease, transfer or other disposition of assets in connection with a Permitted Reorganization; (d) the sale, lease transfer or other disposition of assets from the Company or any of its Subsidiaries to any Credit Party; (e) the Non-Propane Products Divestiture; provided that both before and after giving effect to such disposition (i) no Default or Event of Default has occurred and is continuing and (ii) the Company shall have demonstrated pro forma compliance with the financial covenants set forth in Section 6.12; (f) dispositions by the Company or any Subsidiary thereof, of assets acquired in connection with a Permitted Acquisition that the Company or such Subsidiary intended to sell at the time of such Permitted Acquisition; provided that (i) such assets were identified in writing to the Holders at the time of such Permitted Acquisition and (ii) the aggregate fair market value of such assets does not exceed fifteen percent (15%) of the aggregate consideration paid in connection with such Permitted Acquisition and (iii) so long as the proceeds from such sale or other disposition are applied to repay the Senior Debt or amounts outstanding under the Debentures; or (g) the sale, lease, transfer or other disposition of assets in any Fiscal Year having a book value, in the aggregate with all other assets (except assets which are excluded under clauses (a) through (f) above) sold, leased, transferred or disposed of during such Fiscal Year, not to exceed $1,000,000 so long as the proceeds from such sale or other disposition are applied to repay the Senior Debt or amounts outstanding under the Debentures. View More

Asset Disposition. By Manufacturer means the sale, lease or exchange of all or substantially all of the assets of Manufacturer to any person or entity other than Excluded Persons (as defined in section 1.8 hereof).

Asset Disposition. Has the meaning provided to such term in the Notes Indenture, whether or not any of the Notes Debt is outstanding or the Notes Indenture remains effective.

Asset Disposition. Means a sale or other disposition of assets by the Borrower or any Subsidiary or any expropriation, condemnation, destruction or other loss of property of the Borrower of any Subsidiary, but shall exclude: (i) the disposition of obsolete or worn out property in the ordinary course of business; (ii) the sale of inventory in the ordinary course of business; (iii) the exchange of equipment or other personal property for the... functional equivalent thereof in the ordinary course of business; and (iv) the leasing or licensing of property in the ordinary course of business; and 2 View More

Asset Disposition. The disposition, whether by sale, lease, transfer, loss, damage, destruction, condemnation or otherwise, of any or all of the assets of the Company or any of its Subsidiaries other than sales of inventory in the ordinary course of business