Disposal of Property a) Prior to disposal of any property purchased with funds from this Contract or any predecessor Contract, Subrecipient must obtain approval from CDA for reportable property. Disposition, which includes sale, trade-in, discarding, or transfer to another agency may not occur until approval is received from CDA. Subrecipient shall email to County the electronic version of the Request to Dispose of Property (CDA 248). CDA will then instruct County on disposition of the property, and County will notify Subrecipient. Once approval for disposal has been received from CDA, and the County has reported to CDA the Property Survey Report’s (STD 152) Certification of Disposition, the item(s) shall be removed from Subrecipient’s inventory report.
b) Subrecipient must remove all confidential, sensitive, or personal information from CDA property prior to disposal, including removal or destruction of data on computing devices with digital memory and storage capacity. This includes, but is not limited to magnetic tapes, flash drives, personal computers, personal digital assistants, cell or smart phones, multi-function printers, and laptops.
Disposal of Property. In the event of the expiration of this Lease or other re-entry of the Premises by Landlord as provided in this Lease, any property of Tenant not removed by Tenant upon the expiration of the Term of this Lease, or within forty-eight (48) hours after a termination by reason of Tenant's default, shall be considered abandoned and Landlord may remove any or all of such property and dispose of the same in any manner or store the same in a public warehouse or elsewhere for the account of, and at the expense and risk of, Tenant. If Tenant shall fail to pay the costs of storing any such property after it has been stored for a period of thirty (30) days or more, Landlord may sell any or all of such property at public or private sale, in such manner and at such places as Landlord, in its sole discretion, may deem proper, without notice to or demand upon Tenant. In the event of such sale, Landlord shall apply the proceeds thereof, first, to the cost and expense of sale, including reasonable attorneys' fees; second, to the repayment of the cost of removal and storage; third, to the repayment of any other sums which may then or thereafter be due to Landlord from Tenant under any of the terms of this Lease; and fourth, the balance, if any, to Tenant.
Disposal of Property. Each party shall have the right, at all times, to dispose of or encumber any or all of his or her separate property by deed, xxxx of sale, gift, trust, will, mortgage, encumbrance, pledge, lien, or charge, without limitation, merely upon his or her own individual signature or act, without the necessity of any joinder, action, or consent by the other party.
Disposal of Property. Sell, transfer, exchange, lease, or otherwise dispose of any of its assets except the following shall be permitted: (i) sales of its Inventory in the ordinary course of business, (ii) sales made in connection with the purchase by Borrower of replacement equipment (other than equipment subject to a Security Interest), provided that Borrower uses the proceeds of any such sale to finance the purchase by Borrower of replacement equipment and Borrower delivers to Agent written evidence of the use of the proceeds for such purchase; or (iii) other sales as contemplated by Section (iii); provided, however, no consent from the Required Lenders shall be required for the sale of the Permitted Investments in (i) High-Trak, Inc. if the net cash proceeds shall be at least the book value carried on Borrower's books, and (ii) in Great Southern Rental and Sales, Inc. if the sale is performed in accordance with the terms and conditions of that certain Stock Purchase Agreement by and between Trak and Great Southern Rental and Sales, Inc., dated April 24, 1994. Notwithstanding the foregoing, Borrower may sell, transfer or otherwise dispose of obsolete or unusable equipment having an orderly liquidation value no greater than $50,000 individually, and $100,000 in the aggregate in any Fiscal Year of Borrower, provided that (a) if such sale, transfer or disposition is effected without replacement of such equipment, or if such equipment is replaced by equipment leased by Borrower or by equipment purchased by Borrower subject to a Permitted Security Interest, then Borrower shall deliver all of the cash proceeds of any such sale, transfer or other disposition to Agent for application to the Loan Obligations to the extent required by Section , or (b) if such sale, transfer, or other disposition is made in connection with the purchase by Borrower of replacement equipment (other than equipment subject to a Security Interest), then Borrower shall use the proceeds of any such sale, transfer or other disposition to finance the purchase by Borrower of such replacement equipment and shall deliver to Agent written evidence of the use of the proceeds for such purchase. All replacement equipment purchased by Borrower shall be free and clear of all Security Interests and Encumbrances, except for Permitted Security Interests.
Disposal of Property. 1. Prior to disposal of any property purchased by the Contractor or the Subcontractor with funds from this Agreement or any predecessor Agreement, the Contractor must obtain approval from CDA for all items with a unit cost of $500 or more. Disposition, which includes sale, trade- in, discarding, or transfer to another agency may not occur until approval is received from CDA. The Contractor shall email to CDA the electronic version of the Request to Dispose of Property (CDA 248). CDA will then instruct the AAA on disposition of the property. Once approval for disposal has been received from CDA, the item(s) shall be removed from the Contractor’s inventory report.
2. The Contractor must remove all confidential, sensitive, or personal information from CDA property prior to disposal, including removal or destruction of data on computing devices with digital memory and storage capacity. This includes, but is not limited to magnetic tapes, flash drives, personal computers, personal digital assistants, cell or smart phones, multi-function printers, and laptops.
Disposal of Property. No Borrower shall sell, assign, lease, transfer or otherwise dispose of any of its properties, assets and rights to any Person except (i) sales of Inventory in the ordinary course of business, and (ii) sales of obsolete Equipment being replaced in the ordinary course of business with other Equipment with a fair market value and orderly liquidation value equal to or greater than the Equipment being replaced.
Disposal of Property. 1. Prior to disposal of any property purchased by the Contractor or the subcontractor with funds from this Agreement or any predecessor Agreement, the Contractor must obtain approval from the K/T AAA for all reportable property as defined in Section B of this Article. Disposition, which includes sale, trade-in, discarding, or transfer to another agency may not occur until approval is received from the K/T AAA. The Contractor shall e-mail to the K/T AAA the electronic version of the Request to Dispose of Property (CDA 248). The K/T AAA will then instruct the Contractor on disposition of the property. Once approval for disposal has been received from the K/T AAA, and the K/T AAA has reported to CDA the Property Survey Report’s (STD 152) Certification of Disposition, the item(s) shall be removed from the Contractor’s inventory report.
2. Contractor must remove all confidential, sensitive, or personal information from K/TAAA property prior to disposal, including removal or destruction of data on computing devices with digital memory and storage capacity. This includes, but is not limited to magnetic tapes, flash drives, personal computers, personal digital assistants (PDAs), cell or smart phones, multi-function printers, and laptops.
Disposal of Property. Company shall not, and shall not permit any -------------------- Subsidiary to, sell, lease, transfer, or otherwise dispose of any of its properties, assets, and rights (or agree to sell, lease, transfer, or otherwise dispose of any of its properties, assets, and rights) (including the Collateral) to any party except in the ordinary course of business (including the disposition of obsolete equipment), except for sales of equipment stored at the Xxxxxxx Property and sales not in excess of $100,000, and provided, further, that Newco shall not be entitled unreasonably to withhold consent hereunder.
Disposal of Property. The Borrower shall not sell, assign, lease, convey, lease, transfer or otherwise dispose of (whether in one transaction or a series of transactions) all or any substantial part of its properties, assets and rights (or sell or assign, with or without recourse, any receivables) to any Person except (a) sales of Inventory in the ordinary course of business, (b) sales of Equipment being replaced in the ordinary course of business with other Equipment with a fair market value and orderly liquidation value equal to or greater than the Equipment being replaced, (c) sales in the ordinary course of business of personal property that is obsolete, unmerchantable or otherwise unsalable, unusable or unnecessary to Borrower’s business, (d) sales, leases and assignments of personal property between one Borrower to another Borrower, and (e) the sale, conveyance or transfer (a “Permitted Disposition”) of any one or more of the Facilities provided that:
(i) at the time of each such Permitted Disposition, no Default or Event of Default shall have occurred and be continuing or would result from such transaction (including, without limitation, any breach or violation of any financial ratio covenant set forth in Section 9.12 hereof);
(ii) that such Permitted Disposition is an arm’s length transaction for the fair value of the Facility being sold or transferred; DM3\2429630.8
(iii) such Permitted Disposition shall be consummated in accordance with all applicable Law; and
(iv) at least five (5) Business Days prior to the consummation of the Permitted Disposition, the Borrower whose Facility is being disposed of shall have delivered to the Administrative Agent an Officer’s Certificate certifying that such transactions comply with the foregoing provisions (which shall have attached thereto reasonable back-up data and calculations showing such compliance). Solely for purpose of this Section 9.6, in connection with the consummation of any one or more Permitted Dispositions complying in all respects with the foregoing requirements, Administrative Agent and Lender will fully release and discharge the applicable lien and security interest granted to Administrative Agent to secure the Loan (for the ratable benefit of the Lenders and the Administrative Agent) under this Agreement and the Financing Agreements on the specific Collateral of such applicable Borrower or Borrowers (the “Released Collateral”), and will fully release and discharge such Borrower or Borrowers (the “Released Borrowe...
Disposal of Property. Landlord may dispose of property abandoned by tenant without any liability provided tenant is given notice of abandoned property under 14 M.R.S.A. § 6013.
