Strategic Initiatives

Strategic Initiatives. Means each of the following: (a) the sale of certain divisions of the Issuer to Drake Beam and Moran, (b) the sale of the Government Division (as defined in the Loan Agreement) of the Issuer, (c) the sale of all of the non-government divisions of the Issuer to University of Phoenix Apollo Group, or (d) the sale of all of the non-government divisions of the Issuer to WR Capital, each as more fully described in the Loan Agreement.