Dispose of Property. Except in the ordinary course of business (which will include the disposition of equipment or real property no longer used or useful to the Borrower), sell, transfer, lease or otherwise dispose of any material part of Borrower’s assets or properties, or discount, with or without recourse, any accounts of Borrower without prior notification to the Bank.
Dispose of Property. In accordance with applicable state law, hold, sell, lease, rent or otherwise dispose of any real or personal property, or any interest in real or personal property, and release or relinquish any right, title, claim, lien, interest, easement or demand however acquired, and these proceeds become and remain operating revenues except that the Adjutant General may not sell any interest in real property without following the provisions of section 264; [PL 2003, c. 646, §8 (AMD).]
Dispose of Property. Sell, transfer, lease or otherwise dispose of its assets or properties, or discount, with or without recourse, any of its accounts, except (i) sales from inventory in the ordinary course of business, (ii) the sale of obsolete equipment and machinery in the ordinary course of business, and (iii) sales of assets for cash and for fair value in any fiscal year of Borrower in an aggregate amount for Borrower and its Subsidiaries not to exceed One Million Dollars ($1,000,000), and, provided there exists no Default and no Default would be occasioned thereby, such additional sales of assets above such One Million Dollars ($1,000,000) limitation provided the proceeds of such additional sales are paid to the Lenders to permanently reduce pro rata the Term Loans and the Lenders' Revolving Commitments as provided in Section 2.3(d) hereof.
Dispose of Property. Sell, transfer, lease or otherwise dispose of its assets (including, without limitation, stock in any Subsidiary), Properties, or business, or discount, with or without recourse, any of its accounts or notes receivable, except (a) sales from Inventory in the ordinary course of business, (b) dispositions of fixed assets no longer used or useful in the operation of its business, provided, (i) any such disposition is for cash and for fair value, (ii) at the time of such disposition there exists no Default or Unmatured Default and no Default or Unmatured Default would be occasioned thereby, and (iii) the aggregate net after-tax sale proceeds from such dispositions do not exceed Fifteen Million Dollars ($15,000,000) during any fiscal year, (c) transfers to or from Wholly-Owned Subsidiaries of Borrower, (d) the issuance of stock constituting directors' qualifying shares in Foreign Subsidiaries, (e) the sale or factoring of accounts receivable, and (f) such other dispositions of Property, which when coupled with dispositions of fixed assets pursuant to clause (b) above, do not exceed, in the aggregate, Twenty-Two Million Five Hundred Thousand Dollars ($22,500,000) during any fiscal year.
Dispose of Property. Sell, transfer, lease or otherwise dispose of its assets or properties, or discount, with or without recourse, any of its accounts, except (a) sales from inventory in the ordinary course of business, (b) the sale of obsolete equipment and machinery in the ordinary course of business, and (c) sales of assets for cash and for fair value in any fiscal year of Borrower in an aggregate amount for Borrower and its Subsidiaries not to exceed Ten Percent (10%) of the book value of Borrower's consolidated total assets (as determined in accordance with GAAP), and, provided there exists no Default and no Default would be occasioned thereby, such additional sales of assets above such Ten Percent (10%) limitation provided the proceeds of such additional sales are paid to the Lender to permanently reduce the Revolving Commitment.
