Common use of Dispositions of Assets or Subsidiaries Clause in Contracts

Dispositions of Assets or Subsidiaries. Excluding the payment of cash as consideration for assets purchased by, or services rendered to, the Borrower or any Subsidiary, neither the Borrower nor any of its Subsidiaries shall sell, convey, assign, lease, or otherwise transfer or dispose of, voluntarily or involuntarily, any of its properties or assets, tangible or intangible (including but not limited to sale, assignment, discount or other disposition of Receivables, contract rights, chattel paper, equipment or general intangibles with or without recourse or of capital stock, shares or beneficial interests or partnership interests in Subsidiaries), except: (i) any sale, transfer or disposition of surplus, obsolete or worn out assets of the Borrower or a Subsidiary; (ii) any sale, transfer or lease of Inventory by the Borrower or any Subsidiary of the Borrower in the ordinary course of business; (iii) any sale, transfer or lease of assets by any Subsidiary of the Borrower to the Borrower or any other Subsidiary of the Borrower or by the Borrower to any Subsidiary of the Borrower; or (iv) any sale, transfer or lease of assets, other than those specifically excepted pursuant to clauses (i) through (iii) above, which in any one sale, transfer or lease of assets, or in any number of sales, transfers or leases of assets occurring in any consecutive twelve month period, involves the sale, transfer or lease of assets having a book value of not more than $25,000,000 (measured with respect to a series of sales, transfers or leases of assets on the day of the first sale).

Dispositions of Assets or Subsidiaries. Excluding the payment of cash as consideration for assets purchased by, or services rendered to, the Borrower or any Subsidiary, neither the Borrower nor any of its Subsidiaries shall sell, convey, assign, lease, or otherwise transfer or dispose of, voluntarily or involuntarily, any of its properties or assets, tangible or intangible (including but not limited to sale, assignment, discount or other disposition of Receivablesreceivables, contract rights, chattel paper, equipment or general intangibles with or without recourse or of capital stock, shares or beneficial interests or partnership interests in Subsidiaries), except: (ia) any sale, transfer or disposition of surplus, obsolete or worn out assets of the Borrower or a Subsidiary; (iib) any sale, transfer or lease of Inventory inventory by the Borrower or any Subsidiary of the Borrower in the ordinary course of business; (iiic) any sale, transfer or lease of assets by any Subsidiary of the Borrower to the Borrower or any other Subsidiary of the Borrower or by the Borrower to any Subsidiary of the Borrower; or (ivd) any sale, transfer or lease of assets, other than those specifically excepted pursuant to clauses (ia) through (iiic) above, which in any one sale, transfer or lease of assets, or in any number of sales, transfers or leases of assets occurring (i) in any consecutive twelve month period, period involves the sale, transfer or lease of assets having a book value of not more than $25,000,000 ten percent (10%) of the Consolidated Tangible Net Assets and (ii) during the term of this Agreement involves the sale, transfer, or lease of assets having a book value of not more than twenty percent (20%) of the Consolidated Tangible Net Assets (in each case, measured with respect to a series of sales, transfers or leases of assets on the day of the first sale).

Dispositions of Assets or Subsidiaries. Excluding the payment of cash as consideration for assets purchased byThe Borrower shall not, or services rendered to, the Borrower or any Subsidiary, neither the Borrower nor and shall not permit any of its Subsidiaries shall to, sell, convey, assign, lease, abandon or otherwise transfer or dispose of, voluntarily or involuntarily, any of its properties or assets, tangible or intangible (including but not limited to sale, assignment, discount or other disposition of Receivablesaccounts, contract rights, chattel paper, equipment or general intangibles with or without recourse or of capital stock, shares or of beneficial interests interest or partnership interests in Subsidiariesof a Subsidiary of the Borrower), except: (i) any sale, transfer or disposition transactions involving the sale of surplus, obsolete or worn out assets inventory in the ordinary course of the Borrower or a Subsidiarybusiness; (ii) any sale, transfer or lease of Inventory by the Borrower or any Subsidiary of the Borrower assets in the ordinary course of business which are no longer necessary or required in the conduct of the Borrower's business; (iii) any sale, transfer or lease of assets by any Subsidiary of the Borrower to the Borrower or any other Subsidiary of the Borrower or by the Borrower to any Subsidiary of the Borrower; oranother Subsidiary; (iv) any sale, transfer or lease of assets in the ordinary course of business which are replaced by substitute assets acquired or leased within the parameters of Section 7.2.15; (v) any sale, transfer, or lease of assets the after-tax proceeds of which, when added to the after-tax proceeds of other sales, transfers and leases of assets in the same fiscal year, do not exceed, in the aggregate for Borrower and its Subsidiaries, 5% of Borrower's consolidated total assets at the start of such Fiscal Year; and (vi) any sale, transfer or lease of assets, other than those specifically excepted pursuant to clauses (i) through (iiiv) above, which in any one sale, transfer or lease of assets, or in any number of sales, transfers or leases of assets occurring in any consecutive twelve month period, involves is approved by the sale, transfer or lease of assets having a book value of not more than $25,000,000 (measured with respect to a series of sales, transfers or leases of assets on the day of the first sale)Required Banks.

Dispositions of Assets or Subsidiaries. Excluding the -------------------------------------- payment of cash as consideration for assets purchased by, or services rendered to, the Borrower or any Subsidiary, neither the Borrower nor any of its Subsidiaries shall sell, convey, assign, lease, or otherwise transfer or dispose of, voluntarily or involuntarily, any of its properties or assets, tangible or intangible (including but not limited to sale, assignment, discount or other disposition of Receivables, contract rights, chattel paper, equipment or general intangibles with or without recourse or of capital stock, shares or beneficial interests or partnership interests in Subsidiaries), except: (ia) any sale, transfer or disposition of surplus, obsolete or worn out assets of the Borrower or a Subsidiary; (iib) any sale, transfer or lease of Inventory inventory by the Borrower or any Subsidiary of the Borrower in the ordinary course of business; (iiic) any sale, transfer or lease of assets by any Subsidiary of the Borrower to the Borrower or any other Subsidiary of the Borrower or by the Borrower to any Subsidiary of the Borrower; or (ivd) any sale, transfer or lease of assets, other than those specifically excepted pursuant to clauses (ia) through (iiic) above, which in any one sale, transfer or lease of assets, or in any number of sales, transfers or leases of assets occurring in any consecutive twelve month period, involves the sale, transfer or lease of assets having a book value resulting in net proceeds of not more than $25,000,000 1,000,000 (measured with respect to a series of sales, transfers or leases of assets on the day of the first sale).

Dispositions of Assets or Subsidiaries. Excluding the payment of cash as consideration for assets purchased by, or services rendered to, the Borrower or any Subsidiary, neither the Borrower nor any of its Subsidiaries shall sell, convey, assign, lease, or otherwise transfer or dispose of, voluntarily or involuntarily, any of its properties or assets, tangible or intangible (including but not limited to sale, assignment, discount or other disposition of Receivablesreceivables, contract rights, chattel paper, equipment or general intangibles with or without recourse or of capital stock, shares or beneficial interests or partnership interests in Subsidiaries), except: (ia) any sale, transfer or disposition of surplus, obsolete or worn out assets of the Borrower or a Subsidiary; (iib) any sale, transfer or lease of Inventory by the Borrower or any Subsidiary of the Borrower in the ordinary course of business; (iiic) any sale, transfer or lease of assets by any Subsidiary of the Borrower to the Borrower or any other Subsidiary of the Borrower or by the Borrower to any Subsidiary of the Borrower; or (ivd) any sale, transfer or lease of assets, other than those specifically excepted pursuant to clauses (ia) through (iiic) above, which in any one sale, transfer or lease of assets, or in any number of sales, transfers or leases of assets occurring (i) in any consecutive twelve month period, period involves the sale, transfer or lease of assets having a book value of not more than $25,000,000 10% of the Consolidated Tangible Net Assets and (ii) during the term of this Agreement involves the sale, transfer, or lease of assets having a book value of not more than 20% of the Consolidated Tangible Net Assets (in each case, measured with respect to a series of sales, transfers or leases of assets on the day of the first sale).

Dispositions of Assets or Subsidiaries. Excluding the payment of cash as consideration for assets purchased by, or services rendered to, the Borrower or any Subsidiary, neither the Borrower nor any of its Subsidiaries shall sell, convey, assign, lease, or otherwise transfer or dispose of, voluntarily or involuntarily, any of its properties or assets, tangible or intangible (including but not limited to sale, assignment, discount or other disposition of Receivablesreceivables, contract rights, chattel paper, equipment or general intangibles with or without recourse or of capital stock, shares or beneficial interests or partnership interests in Subsidiaries), except: (i) any sale, transfer or disposition of surplus, obsolete or worn out assets of the Borrower or a Subsidiary; (ii) any sale, transfer or lease of Inventory inventory by the Borrower or any Subsidiary of the Borrower in the ordinary course of business; (iii) any sale, transfer or lease of assets by any Subsidiary of the Borrower to the Borrower or any other Subsidiary of the Borrower or by the Borrower to any Subsidiary of the Borrower; or (iv) any sale, transfer or lease of assets, other than those specifically excepted pursuant to clauses (i) through (iii) above, which in any one sale, transfer or lease of assets, or in any number of sales, transfers or leases of assets occurring in any consecutive twelve month period, involves the sale, transfer or lease of assets having a book value assets, the aggregate total proceeds of such sales totaling not more than $25,000,000 10,000,000 (measured with respect to a series of sales, transfers or leases of assets on the day of the first sale).

Dispositions of Assets or Subsidiaries. Excluding the payment of -------------------------------------- cash as consideration for assets purchased by, or services rendered to, the Borrower or any Subsidiary, neither the Borrower nor any of its Subsidiaries shall sell, convey, assign, lease, or otherwise transfer or dispose of, voluntarily or involuntarily, any of its properties or assets, tangible or intangible (including but not limited to sale, assignment, discount or other disposition of Receivablesaccounts, contract rights, chattel paper, equipment or general intangibles with or without recourse or of capital stockCapital Stock, shares or beneficial interests or partnership interests in Subsidiaries), except: (i) any sale, transfer or disposition of surplus, obsolete or worn out assets of the Borrower or a Subsidiary; (ii) any sale, transfer or lease of Inventory by the Borrower or any Subsidiary of the Borrower in the ordinary course of business; (iii) any sale, transfer or lease of assets by any Subsidiary of the Borrower to the Borrower or any other Subsidiary of the Borrower or by the Borrower to any Subsidiary of the Borrower; or; (iv) any sale, transfer or lease of assets, other than those specifically excepted pursuant to clauses (i) through (iii) above, which in any one sale, transfer or lease of assets, or in any number of sales, transfers or leases of assets occurring in any consecutive twelve month period, involves the sale, transfer or lease of assets having a book value of not more than $25,000,000 10% of the Consolidated Net Worth of the Borrower (measured with respect to a series of sales, transfers or leases of assets on the day of the first sale); or (v) any absolute sale or assignment of accounts in connection with a Securitization, provided that (A) such transaction, except for the customary exceptions, is nonrecourse to the Borrower or its Subsidiaries, (B) on the date of each such transaction the Revolving Credit Commitments are permanently reduced by a Dollar amount equal to the Maximum Purchase Commitment of such transaction and (C) such Securitization be "off balance sheet" for financial reporting purposes in accordance with GAAP.