Common use of Dispose of Property Clause in Contracts

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.

Appears in 2 contracts

Samples: Credit Agreement (Itt Educational Services Inc), Credit Agreement (Itt Educational Services Inc)

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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), sellSell, transfer, lease or otherwise dispose of any material part of Borrower’s assets or propertiesits Property, or discount, with or without recourse, any accounts Accounts, except for sales from Inventory in the ordinary course of Borrower without prior notification to business and except as otherwise provided in the BankSecurity Agreement.

Appears in 1 contract

Samples: Credit Agreement (Amcast Industrial Corp)

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), sellSell, transfer, lease or otherwise dispose of any material part of Borrower’s assets or propertiesits Properties, or discount, with or without recourse, any accounts of Borrower without prior notification to its Accounts, except for sales from Inventory in the Bankordinary course of business and except as otherwise provided in the Security Agreement.

Appears in 1 contract

Samples: Credit Agreement (Obsidian Enterprises Inc)

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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)business, sell, transfer, lease or otherwise dispose of any material part of Borrower’s 's assets or properties, or discount, with or without recourse, any accounts Accounts of Borrower without prior notification to the BankBorrower.

Appears in 1 contract

Samples: Loan Agreement (Arts Way Manufacturing Co Inc)

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