Disposition of Assets or Collateral. Borrower will not sell, lease, transfer, convey, or otherwise dispose of any or all of its assets or Collateral, other than the sale of Inventory in the ordinary course of business or the sale of Equipment in accordance with Lender’s prior written consent under Section 5.4(e) hereof.
Disposition of Assets or Collateral. Sell, lease, or otherwise transfer or dispose of any or all of the Collateral or other assets of Borrower, other than the sale of Inventory in the ordinary course of business and the retirement of other assets in the normal course of operations.
Disposition of Assets or Collateral. Borrower will not sell, lease, transfer, convey, or otherwise dispose of any or all of its assets or Collateral, other than (a) the sale of Inventory in the ordinary course of business, and (b) the disposition or transfer in the ordinary course of business during any fiscal year of obsolete and worn-out Equipment having an aggregate fair market value of not more than $25,000 and only to the extent that the proceeds of any such disposition are used to acquire replacement Equipment which is subject to Lender’s first priority security interest or are used to repay Loans. Notwithstanding the foregoing, Borrower shall be permitted to dispose of assets other than Accounts and Inventory in a transaction that does not constitute a Fundamental Transaction under Section 10.1 hereof, provided that all of the following conditions are met: (i) Borrower shall have provided Lender with not less than fifteen (15) days’ prior written notice of such proposed asset sale, describing in reasonable detail the assets to be sold and the consideration to be received therefor, (ii) the net proceeds of such transaction are used to redeem Indebtedness represented by any outstanding and unpaid Loans, and (iii) Lender shall have determined, in its reasonable commercial judgment, that such asset sale will not impair Lender’s rights in its remaining Collateral or its prospect of repayment hereunder.
Disposition of Assets or Collateral. Borrower will not sell, lease, transfer, convey, or otherwise dispose of any or all of its assets or Collateral, other than the disposition or transfer in the ordinary course of business during any fiscal year of obsolete and worn-out Equipment only to the extent that the proceeds of any such disposition are used to acquire replacement Equipment which is subject to Lender’s first priority security interest or are used to repay Loans.
Disposition of Assets or Collateral. Sell, lease, or otherwise transfer or dispose of any or all of the Collateral or other assets of Borrower, other than (i) the sale of Inventory in the ordinary course of business, (ii) the sale or other disposition of assets (other than Accounts and Inventory) in an amount not to exceed $1,000,000 in the aggregate per fiscal year and (iii) the sale, transfer, conveyance or other disposition in the ordinary course of business of Third Party Plan Receivables in customary factoring arrangements.
Disposition of Assets or Collateral. Except for sales of Collateral the proceeds of which will be paid to Agent on behalf of the Lenders to permanently reduce the Loan and applied in accordance with the provisions contained herein, it will not sell, lease, transfer, convey, or otherwise dispose of any or all of its assets or Collateral, other than the disposition or transfer in the ordinary course of business, of obsolete and worn-out Equipment only to the extent that the proceeds of any such disposition are used to acquire replacement Equipment which is subject to Agent’s first priority security interest or are used to repay the Loan.
Disposition of Assets or Collateral. Sell, lease, license, or otherwise transfer or dispose of any or all of the Collateral or other assets of Borrower other than (a) the sale or license of Inventory in the ordinary course of business, and (b) the disposition of used, worn-out or surplus property in the ordinary course of business.
Disposition of Assets or Collateral. Except for the sale-leaseback transactions which are contemplated by Section 3.3, sell, lease, or otherwise transfer or dispose of any or all of the Collateral or other assets of Borrower, other than the sale of Inventory in the ordinary course of business and the retirement of other assets in the normal course of operations.
Disposition of Assets or Collateral. Sell, lease, or in any manner whatsoever otherwise transfer or dispose of (including by granting any license therein) all or any Collateral in the Field (as that term is defined in the Strategic Collaboration Agreement) to any Person, except upon notice to Schering, licenses of the Collateral in the ordinary course of business. Nothing contained herein shall preclude any grants outside the Field.
Disposition of Assets or Collateral. Borrower will not sell, lease, transfer, convey, or otherwise dispose of any or all of its assets or Collateral, other than the sale of Inventory in the ordinary course of business and other than the sale of Borrower's Linear Modulation Inventory.
