Extraordinary Transactions and Disposal of Assets. The Borrower will not enter into any transaction not in the ordinary and usual course of Borrower’s business, including the sale, lease, or other disposition of, moving, relocation, or transfer, whether by sale or otherwise, of any of Borrower’s properties or assets.
Extraordinary Transactions and Disposal of Assets. Enter into any transaction not in the ordinary and usual course of Borrower's business, including the sale, lease, or other disposition of, moving, relocation, or transfer, whether by sale or otherwise, of any of Borrower's properties or assets (other than sales of Inventory to buyers in the ordinary course of Borrower's business as currently conducted).
Extraordinary Transactions and Disposal of Assets. Enter into any transaction not in the ordinary and usual course of Guarantor's business, including the sale, lease, or other disposition of, moving, relocation, or transfer, whether by sale or otherwise, of any of Guarantor's properties or assets.
Extraordinary Transactions and Disposal of Assets. Consummate any transaction not in the ordinary and usual course of Borrower's business, including the sale, lease, or other disposition of, moving, relocation, or transfer, whether by sale or otherwise, of any of Borrower's properties or assets (other than sales of Inventory to buyers in the ordinary course of Borrower's business as currently conducted).
Extraordinary Transactions and Disposal of Assets. Enter into any transaction not in the ordinary course of the Business, including the sale, lease, license, moving, relocation, transfer or other disposition, whether by sale or otherwise, of any of the assets of the Company or its Subsidiaries except for sales of inventory in the ordinary course of business or except as expressly permitted by this Note.
Extraordinary Transactions and Disposal of Assets. Enter into any transaction not in the ordinary and usual course of Borrower’s business, including the sale, lease, license or other disposition of, moving, relocation, or transfer, whether by sale or otherwise, of Borrower’s assets, other than (i) sales of inventory in the ordinary and usual course of Borrower’s business as presently conducted and (ii) sales or other dispositions in the ordinary course of business of assets, other than Collateral, that have become worn out or obsolete or that are promptly being replaced. Notwithstanding anything contained in this Section 7.2, the Borrower may do any of the following: (i) transfer licenses and similar arrangements for use of its intellectual property, in arm’s length transactions, in the ordinary course of its business for adequate consideration (ii) declare and make any dividend payment payable in its equity securities, (iii) convert any of its convertible securities into other securities pursuant to the terms of such convertible securities or otherwise in exchange therefor, (iv) repurchase stock from former employees of Borrower in accordance with the terms of repurchase, vesting or similar agreements between Borrower and such employees in its ordinary course of business in an amount not to exceed Fifty Thousand Dollars ($50,000), (v) repurchase equity securities with the proceeds from the issuance of equity securities, (vi) repurchase, redeem, retire, defease or otherwise acquire for value equity securities in connection with or pursuant to any employees benefit plan or stock option plan of the Borrower, and (vii) enter into a Liquidation Event provided the applicable provisions of Section 2.5 above are met to Lender’s satisfaction and provided no Event of Default has occurred and is continuing and is not otherwise caused thereby.
Extraordinary Transactions and Disposal of Assets. Enter into any transaction not in the ordinary and usual course of its business as conducted on the date hereof, including but not limited to the sale, lease, disposal, movement, relocation or transfer, whether by sale or otherwise, of any its assets other than sales of Inventory in the ordinary and usual course of its business as presently conducted; incur any indebtedness for borrowed money or other indebtedness outside the ordinary and usual course of its business as conducted on the date hereof except for renewals or extensions of existing debts permitted by BACC; or make any advance or loan or investment in due person or entity, provided that so long as no Event of Default exists, Borrower may make investments in EPI International Corp. up to aggregate amount of Nine Hundred Thousand Dollars ($900,000.00).
Extraordinary Transactions and Disposal of Assets. (a) Convey, sell, lease, transfer or otherwise dispose of (collectively, a “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, other than the following (collectively, the “Permitted Transfers”):
(i) Transfers of Inventory, goods and/or services in the ordinary course of business (including with respect to consignment arrangements with respect to such Inventory);
(ii) Permitted Licenses;
(iii) Transfers of surplus, worn-out or obsolete equipment;
(iv) uses of cash and Cash Equivalents not prohibited under this Agreement;
(v) the lapse, abandonment or other Transfer to third parties that are not Affiliates of Borrowers of Intellectual Property in the ordinary course of business that is, in the reasonable good faith judgment of the Borrowers, immaterial to the business or no longer used or useful in the business of the Borrowers or any Subsidiary or no longer commercially reasonable to maintain;
(vi) Transfers of equipment to the extent that such equipment is exchanged for credit against the purchase price of similar replacement equipment or the proceeds of such Transfer are promptly applied to the purchase price of such replacement equipment;
(vii) to the extent constituting Transfers, any dividend or distribution by any Loan Party or any Subsidiary not restricted pursuant to Section 7.7, any Permitted Lien and any Permitted Investment;
(viii) (A) any Transfer or issuance by any Borrower of its own Equity Interests, (B) any Transfer or issuance by any Subsidiary of any Borrower of its own Equity Interests to its equity holders, provided, however, that the proportion of such Equity Interests and of each class of such Equity Interests (both on an outstanding and fully-diluted basis) held by the Loan Parties, taken as a whole, is not less than the proportion of such Equity Interests held by the Loan Parties prior to such Transfer or issuance, except as otherwise permitted under this Agreement, (C) to the extent necessary to satisfy any applicable law in the jurisdiction of incorporation, organization or formation, as applicable, of any Subsidiary of any Borrower, any Transfer or issuance by such Subsidiary of its own Equity Interests constituting directors’ qualifying shares or nominal holdings and (D) any Permitted Investments; Loan and Security Agreement – Grove Collaborative, Inc. 37
(ix) Transfers of accounts receivable in connection with the collection or compromise thereof in the ordinary course of busi...
Extraordinary Transactions and Disposal of Assets. (a) Enter into any transaction not in the ordinary and usual course of its business as conducted on the date hereof, including, but not limited to, the sale, lease, disposal, movement, relocation or transfer, whether by sale or otherwise, of any its assets, other than sales of used or surplus Equipment having an aggregate value not in excess of $50,000 in the ordinary and usual course of its business as presently conducted, in each fiscal year; (b) incur (i) any indebtedness for borrowed money (except under this Agreement), including, without limitation, (x) merchant advances or (y) purchase money indebtedness other than as permitted under Section 7.10, or (ii) any other indebtedness outside the ordinary and usual course of its business as conducted on the date hereof, except for renewals or extensions of existing indebtedness permitted by Lender and as set forth on Schedule 7.1; (c) make any advance or loan to any third party, except as permitted under Section 7.9; or (d) xxxxx x xxxx on any of its assets except (i) in favor of Lender or (ii) the continuing liens and security interests, if any, set forth on Schedule 5.1.
Extraordinary Transactions and Disposal of Assets. Enter into any transaction not in the ordinary and usual course of Borrower's business, including the sale, lease, license or other disposition of, moving, relocation, or transfer, whether by sale or otherwise, of Borrower's material assets, other than (i) sales of inventory in the ordinary and usual course of Borrower's business as presently conducted and (ii) sales or other dispositions in the ordinary course of business of assets, other than Collateral, that have become worn out or obsolete or that are promptly being replaced.
