Disposition of Collateral Without Release. Notwithstanding the provisions of Section 8.4, so long as no Default or Event of Default shall have occurred and be continuing or would result therefrom, Issuer may, without any prior release or consent by Trustee, conduct ordinary course activities in respect of the Collateral which do not individually or in the aggregate adversely affect the value of the Collateral, including selling or otherwise disposing of, in any single transaction or series of related transactions, any property subject to the Lien of this Indenture or the Security Instruments which has become worn out or obsolete and which either has an aggregate Fair Market Value of $100,000 per year or less or which is replaced by property of substantially equivalent or greater value which becomes subject to the Lien of the Security Instruments as after-acquired property; abandoning, terminating, cancelling, releasing or making alterations in or substitutions of any leases or contracts subject to the Lien of this Indenture or any of the Security Instruments; surrendering or modifying any franchise, license or permit subject to the Lien of this Indenture or any of the Security Instruments which it may own or under which it may be operating; altering, repairing, replacing, changing the location or position of and adding to its structures, machinery, systems, equipment, fixtures, and appurtenances, provided, however that no change in the location of any such Collateral subject to the Lien of any of the Security Instruments shall be made which (1) removes such property into a jurisdiction in which any instrument required by law to preserve the Lien of any of the Security Instruments on such property, including all necessary financing statements and continuation statements, has not been recorded, registered or filed in the manner required by law to preserve the Lien of and security interest in any of the Security Instruments on such property, (2) does not comply with the terms of this Indenture and the Security Instruments or (3) otherwise impairs the Lien of the Security Instruments; demolishing, dismantling, tearing down or scrapping any Collateral or abandoning any thereof if, in the good faith opinion of the Board of Directors of the Company (as evidenced by a Board Resolution delivered to the Trustee if it involves Collateral having a Fair Market Value in excess of $100,000) such demolition, dismantling, tearing down, scrapping or abandonment is in the best interests of the Company, will not inter...
Disposition of Collateral Without Release. (a) Notwithstanding the provisions of Section 11.04, so long as no Event of Default shall have occurred and be continuing, a Co-Issuer or any Future Mortgaged Vessel Guarantor may, without any release or consent by the Trustee or the Collateral Trustee:
Disposition of Collateral Without Release. (a) Notwithstanding the provisions of Section 12.04, so long as no Event of Default shall have occurred and be continuing, the Company, the Subsidiary Guarantors and the Pledgors, as the case may be, may, without any release or consent by the Trustee:
Disposition of Collateral Without Release. Notwithstanding the provisions of Sections 1005 and 1006 hereof and the Security Documents and subject to Section 1008 hereof and the Trust Indenture Act, the Company may, without any prior release or consent by the Trustee:
Disposition of Collateral Without Release. (a) In addition to and without limiting the provisions of Section 11.04 and subject to Section 10.11, at any time and from time to time, the Company and any Guarantors may without any release or consent of the Trustee or the Majority Noteholders:
Disposition of Collateral Without Release. (a) So long as no Default or Event of Default shall have occurred and be continuing, the Company may, without any release or consent by the Collateral Agent or the Trustee, sell or otherwise dispose of any machinery, equipment, furniture, apparatus, tools or implements or other similar property which at such time is subject to the Lien of the Collateral Documents, which may have become worn out or obsolete, not exceeding individually, in Fair Market Value, $250,000, subject in all cases to the requirements of and restrictions contained in the TIA.
Disposition of Collateral Without Release. Notwithstanding Section 12.05 hereof relating to releases of Collateral, but subject to and in accordance with the provisions of the Collateral Documents and this Indenture, so long as the Collateral Agent or the Trustee have not exercised their rights with respect to the Collateral upon the occurrence and during the continuance of an Event of Default, FelCor LP and the Guarantors will have the right to remain in possession and retain exclusive control of the Collateral, to operate the Collateral, to alter and repair the Collateral and to collect, invest and dispose of any income therefrom.
Disposition of Collateral Without Release. (a) Notwithstanding the provisions of Section 11.04, so long as no Event of Default shall have occurred and be continuing, the Company and any Owner, as appropriate, may, without any release or consent by the Trustee:
Disposition of Collateral Without Release. So long as no Event of Default shall have occurred and be continuing and subject to the requirements of Section 314 of the TIA, the Company may, without any release or consent by the Trustee or the Collateral Agent, sell or otherwise dispose of any machinery, equipment, furniture, apparatus, tools or implements or other similar property subject to the Lien of the Security Documents, which (i) in any single transaction has a fair market value of $25,000 (or if such $25,000 amount referred to in TIA Section 314(d)(l) increases then to such increased amount) or less or (ii) shall have become worn out, obsolete or otherwise in need of replacement or repair; provided that, in the case of this clause (ii) such sale or other disposition is in conjunction with a substantially concurrent transaction whereby additional personal property is made subject to the Lien of the Security Documents.
Disposition of Collateral Without Release. Notwithstanding clause (b) of this Section 11.10 hereof relating to releases of Collateral or the provisions in the Collateral Trust Agreement relating to the release of the Collateral, but subject to the other provisions of this Agreement, the Borrower and the Guarantors may, among other things, without any release or consent by, or the delivery of any document or other instrument to, the Collateral Trustee or the Administrative Agent, conduct ordinary course activities with respect to the Collateral, which do not individually or in the aggregate materially adversely affect the value of the Collateral, including, without limitation:
