Disposition Agreements. Promptly, and in any event not later than 30 days after the execution thereof by the Borrower or any Restricted Subsidiary, written notice of the execution and delivery of any agreement for the sale of a Vessel by any such Person;
Disposition Agreements. Other than the Disposition Agreements set forth on Schedule 7.2(o) of the Company Disclosure Schedule, Seller shall have obtained a release of the Company’s and the Company’s Subsidiaries’ obligations under the Disposition Agreements from the other parties thereto.
Disposition Agreements. 31 4.21 Replace. of Cleanup Contractor or Good Faith Guar 31 4.22 DMB Affiliated Financing. . . . . . . . . . . . . . 32 4.23
Disposition Agreements. All dispositions and refinancings of Approved Properties shall be entered into at arm's length. Borrower shall disclose to Subordinated Lender in writing any affiliation or relationship between any DMB Party and any purchaser or lender with respect to any Approved Property. The terms of disposition or refinancing shall include the following unless Subordinated Lender agrees otherwise (including pursuant to approval of a Loan Application): (a) disposition agreement shall be in substantially the form of Exhibit "K" of the Senior Loan Agreement, or, at Borrower's option, more favorable to the seller; (b) sale entirely for cash; and (c) selling price to be no lower than the lowest selling price projected in the Loan Application, provided that: (i) a sale at such price is commercially reasonable under the circumstances; and (ii) Borrower has provided Subordinated Lender with at least ten days prior notice of the proposed selling price. If Borrower suffers a loss as a result of any indemnification provided by Borrower under any disposition agreement, then Subordinated Lender shall not be required to bear any portion of such loss, except to the extent that such loss arises from Identified Environmental Risks, and except to such extent in no event shall Subordinated Lender be required to make any Subordinated Loan Advances whatsoever to cover any part of such liability or loss. Regardless of whether Borrower assumes such personal liability, in absolutely no event shall Subordinated Lender have any such liability whatsoever. Nothing in the preceding restrictions shall prevent Cleanup Contractor from providing any purchaser with such indemnities and assurances as may have been provided for in the Loan Application or GMP Agreement, provided that Borrower shall have no liability in connection therewith.
