DISPOSAL OF THE EQUIPMENT it will not, and will ensure that no Trading Company will, without the Agent's prior written consent, sell, lease as a lessor, or otherwise dispose of any Equipment provided that obsolete or unusable Equipment having an orderly liquidation value no greater than L500,000 individually and L1,500,000 in the aggregate in any Financial Year, may be disposed of without the Agent's consent, subject to the conditions set forth below. If any of the Equipment is sold, transferred or otherwise disposed of with the Agent's prior written consent or as otherwise permitted hereby then:
(a) if such sale, transfer or disposal is effected without replacement of such Equipment, or such Equipment is replaced by leased Equipment, or by Equipment purchased subject to a Permitted Encumbrance, Ideal will, or will procure that the relevant Trading Company will, deliver all of the cash proceeds of any such sale, transfer or disposal to the Agent, which proceeds shall be applied in or towards prepayment of all sums due from the Borrowers hereunder; or
(b) if such sale, transfer or disposal is made in connection with the purchase of replacement Equipment (other than subject to a Permitted Encumbrance), Ideal will use the proceeds of such sale, transfer or disposal to finance the purchase of such replacement Equipment which shall be free and clear of all liens, claims and encumbrances, except for the Security Interest and other Permitted Encumbrances and shall deliver to the Agent written evidence of the use of the proceeds for such purchase;
DISPOSAL OF THE EQUIPMENT. 9.1 If the Hirer is not, on expiry of the hiring of the Equipment, in default of any of their obligations then, on expiry of the hiring, we will appoint the Hirer as our sales agent for the Equipment on the following terms:-
(a) the Equipment shall be sold at not less than the open market value to a person who is not a Connected Person for a price first approved by us in writing;
(b) title shall pass on full payment of the purchase price to us;
(c) the Equipment must be sold for business use without the benefit of any warranty, representation or condition on our part (save that we can pass good title thereto);
(d) the Hirer must indemnify us against all losses, damage, costs, claims and expenses arising out of the sale (including legal fees) on a full indemnity basis in connection with any proceedings against us brought by any purchaser;
(e) on receipt of the proceeds of sale, we shall pay to the Hirer a sum equal to the Rebate Value Percentage of the proceeds (net of VAT) to the Hirer as a rebate of Rentals subject to the amount of such sum not exceeding the total Rentals paid; and
(f) if the Equipment is not sold within three months we reserve the right to terminate this agency and the Hirer will no longer be in possession of the Equipment with the consent of us and Clause 11 shall apply.
DISPOSAL OF THE EQUIPMENT. 9.1 If the Hirer is not, on expiry of the hiring of the Equipment, in default of any of their obligations then, on expiry of the hiring, we will appoint the Hirer as our sales agent for the Equipment on the following terms:-
(a) the Equipment shall be sold at not less than the open market value to a person who is not a Connected Person for a price first approved by us in writing;
(b) title shall pass on full payment of the purchase price to us;
(c) the Equipment must be sold for business use without the benefit of any warranty, representation or condition on our part (save that we can pass good title thereto);
(d) the Hirer must indemnify us against all losses, damage, costs, claims and expenses arising out of the sale (including legal fees) on a full indemnity basis in connection with any proceedings against us brought by any purchaser;
DISPOSAL OF THE EQUIPMENT. Customer may dispose of the Equipment to which CENIT has retained sole or joint title only in the ordinary course of business on its usual terms; this applies, however, only as long as Customer is not in default. In the event of resale, Customer hereby assigns to CENIT, in advance, any claims arising against the purchasers or any third party in the amount of the amount of CENIT's invoice (plus tax) plus a security surcharge of 10%. CENIT hereby accepts the assignment.
DISPOSAL OF THE EQUIPMENT it will not, and will ensure that no Trading Company will, without the Agent’s prior written consent, sell, lease as a lessor, or otherwise dispose of any Equipment provided that obsolete or unusable Equipment having an orderly liquidation value no greater than £500,000 individually and £1,500,000 in the aggregate in any Financial Year, may be disposed of without the Agent’s consent, subject to the conditions set forth below. If any of the Equipment is sold, transferred or otherwise disposed of with the Agent’s prior written consent or as otherwise permitted hereby then:
