Common use of Asset Dispositions; Dissolution; Mergers; Capital Structure; Business Purpose Clause in Contracts

Asset Dispositions; Dissolution; Mergers; Capital Structure; Business Purpose. (i) Sell, lease (as lessor), transfer or otherwise dispose of any of its properties or assets, except as to the sale of inventory in the ordinary course of business; (ii) change its name, its corporate identity or structure, its form of organization or the state in which it has been formed or organized; (iii) dissolve or liquidate or consolidate with or merge into any other Person, or permit any other Person to merge into it; (iv) acquire all or substantially all the properties or assets of any other Person; (v) enter into any reorganization or recapitalization, or reclassify its capital stock; (vi) enter into any sale-leaseback transaction; (vii) permit any levy, attachment or restraint to be made affecting any of Borrower's assets; (viii) permit any judicial officer or assignee to be appointed or to take possession of any or all of Borrower's assets; or (ix) make any other change in Borrower's financial structure or in any of its business objects, purposes or operations which, in the opinion of Agent, could result in a Material Adverse Effect; (x) enter into any transaction not in the ordinary course of Borrower’s business; or (xi) make any payment on account of any Subordinated Debt in violation of the provisions of any subordination agreement between Agent and the applicable subordinated debt holder, or otherwise fail to comply with the terms and conditions set forth in any such subordination agreement.

Appears in 1 contract

Samples: Credit Agreement (Owens Realty Mortgage, Inc.)

AutoNDA by SimpleDocs

Asset Dispositions; Dissolution; Mergers; Capital Structure; Business Purpose. (ia) Sell, lease (as lessor), transfer or otherwise dispose of any of its properties or assets, except as to the sale of inventory in the ordinary course of business; (iib) change its name, its corporate identity or structure, its form of organization or the state in which it has been formed or organized; (iiic) dissolve or liquidate or consolidate with or merge into any other Person, or permit any other Person to merge into it; (ivd) acquire all or substantially all the properties or assets of any other Person; (ve) enter into any reorganization or recapitalization, or reclassify its capital stock; (vif) enter into any sale-leaseback transaction; (viig) permit any levy, attachment or restraint to be made affecting any of Borrower's assets; (viiih) permit any judicial officer or assignee to be appointed or to take possession of any or all of Borrower's assets; or (ixi) make any other change in Borrower's financial structure or in any of its business objects, purposes or operations which, in the opinion of Agent, could result in a Material Adverse Effect; (xj) enter into any transaction not in the ordinary course of Borrower’s 's business; or (xik) make any payment on account of any Subordinated Debt in violation of the provisions of any subordination agreement between Agent and the applicable subordinated debt holder, or otherwise fail to comply with the terms and conditions set forth in any such subordination agreement.

Appears in 1 contract

Samples: Pledge Agreement (Owens Realty Mortgage, Inc.)

Asset Dispositions; Dissolution; Mergers; Capital Structure; Business Purpose. (i) Sell, lease (as lessor), transfer or otherwise dispose of any of its properties or assets, except as to the sale of inventory in the ordinary course of business; (ii) change its name, its corporate identity or structure, its form of organization or the state in which it has been formed or organized; (iii) dissolve or liquidate or consolidate with or merge into any other Person, or permit any other Person to merge into it; (iv) acquire all or substantially all the properties or assets of any other Person; (v) enter into any reorganization or recapitalization, or reclassify its capital stock; (vi) enter into any sale-leaseback transaction; (vii) permit any levy, attachment or restraint to be made affecting any of Borrower's assets; (viii) permit any judicial officer or assignee to be appointed or to take possession of any or all of Borrower's assets; or (ix) make any other change in Borrower's financial structure or in any of its business objects, purposes or operations which, in the opinion of AgentBank, could result in a Material Adverse Effect; (x) enter into any transaction not in the ordinary course of Borrower’s business; or (xi) make any payment on account of any Subordinated Debt in violation of the provisions of any subordination agreement between Agent Bank and the applicable subordinated debt holder, or otherwise fail to comply with the terms and conditions set forth in any such subordination agreement.

Appears in 1 contract

Samples: Credit Agreement (Owens Realty Mortgage, Inc.)

AutoNDA by SimpleDocs

Asset Dispositions; Dissolution; Mergers; Capital Structure; Business Purpose. (ia) Sell, lease (as lessor), transfer or otherwise dispose of any of its properties or assets, except as to the sale of inventory in the ordinary course of business; (iib) change its name, its corporate identity or structure, its form of organization or the state in which it has been formed or organized; (iiic) dissolve or liquidate or consolidate with or merge into any other Person, or permit any other Person to merge into it; (ivd) acquire all or substantially all the properties or assets of any other Person; (ve) enter into any reorganization or recapitalization, or reclassify its capital stock; (vif) enter into any sale-leaseback transaction; (viig) permit any levy, attachment or restraint to be made affecting any of Borrower's assets; (viiih) permit any judicial officer or assignee to be appointed or to take possession of any or all of Borrower's assets; or (ixi) make any other change in Borrower's financial structure or in any of its business objects, purposes or operations which, in the opinion of Agent, could result in a Material Adverse Effect; (xj) enter into any transaction not in the ordinary course of Borrower’s 's business; or (xik) make any payment on account of any Subordinated Debt in violation of the provisions of any subordination agreement between Agent and the applicable subordinated debt holder, or otherwise fail to comply with the terms and conditions set forth in any such subordination agreement.. Section 6.7

Appears in 1 contract

Samples: Credit Agreement

Time is Money Join Law Insider Premium to draft better contracts faster.