Permitted Integration Property

Permitted Integration Property. The definition of the term Permitted Integration Property in Section 1.01 shall be amended and restated in its entirety to read as follows: Permitted Integration Property means (x) Property (including cash and Cash Equivalents) that (i) immediately after the Acquisition Closing Date is owned by any Subsidiaries that are not Loan Parties and that are not required to become Loan Parties pursuant to the terms of this Agreement or any other Loan Document (and which Property was not transferred to... such Subsidiaries in contemplation of the Acquisition), and (ii) that after the Acquisition Closing Date is Disposed of (whether by direct transfer, merger or assignment or otherwise) to a Loan Party or otherwise becomes owned by a Loan Party (as a result of the Subsidiary that owns such Property becoming a Loan Party), (y) the Equity Interests in any Person that immediately after the Acquisition Closing Date is not a Loan Party and that is not required to become a Loan Party pursuant to the terms of this Agreement and (z) any intercompany receivables, provided that the Borrower shall have reasonably determined in good faith that the transfer of such assets from a Loan Party to a Subsidiary that is not a Loan Party shall not, taken as a whole with other transfers of Permitted Integration Property, be materially disadvantageous to the Lenders. View More