Common use of Disposition of Collateral Without Release Clause in Contracts

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. (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 Security Documents, which may have become worn out or obsolete, not exceeding individually, in Fair Market Valuefair market value, $250,000, subject in all cases to the requirements of and restrictions contained in the TIA25,000.

Disposition of Collateral Without Release. (a) So long as no Default or Event of Default shall have occurred and be continuing, the Company or any of its Subsidiaries 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of any machinery, equipment, furniture, apparatus, tools or implements or other similar property which at such time is Obsolete Assets subject to the Lien of the Collateral Security Documents, which may have become worn out or obsolete, in an aggregate amount not exceeding individuallyto exceed, in Fair Market Valuefair market value, $250,000, subject 2,000,000 in all cases to the requirements of and restrictions contained in the TIAany year.

Disposition of Collateral Without Release. (a) So long as no Default or Event of Default shall have occurred and be continuing, the Company or any of its Subsidiaries 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of any machinery, equipment, furniture, apparatus, tools or implements or other similar property which at such time is Obsolete Assets subject to the Lien of the Collateral 101 Draft - January 14, 2004 Exhibit C Security Documents, which may have become worn out or obsolete, in an aggregate amount not exceeding individuallyto exceed, in Fair Market Valuefair market value, $250,000, subject 2,000,000 in all cases to the requirements of and restrictions contained in the TIAany year.