Common use of Limit on Sale of Assets Clause in Contracts

Limit on Sale of Assets. Except for Permitted Dispositions, the Borrowers shall not, and shall not permit any Subsidiaries to, sell, transfer or otherwise dispose of any property or assets (i) during the continuance of a Default or Event of Default or (ii) in any calendar year, where the aggregate fair market value thereof, whether in one transaction or a series of transactions, exceeds the greater of (A) U.S.$250,000,000 and (B) 5% of Consolidated Tangible Assets; provided that, in each case, for certainty, a sale, transfer or other disposition of property or assets to a Person at arm’s length from the Canadian Borrower and its Subsidiaries shall constitute prima facie evidence of the fair market value of such property or assets being sold, transferred or disposed of.

Limit on Sale of Assets. Except for Permitted Dispositions, the Borrowers Canadian Borrower shall not, and shall not permit any Subsidiaries Subsidiary thereof to, sell, transfer or otherwise dispose of any of their respective property or assets (ia) during the continuance of a Default or Event of Default or (iib) in any calendar year, where the aggregate fair market value thereof, whether in one transaction or a series of transactions, exceeds the greater of (Ai) U.S.$250,000,000 and (Bii) 5% of Consolidated Tangible Assets; provided that, in each case, for certainty, a sale, transfer or other disposition of property or assets to a Person person at arm’s 's length from the Canadian Borrower and its Subsidiaries shall constitute prima facie evidence of the fair market value of such property or assets being sold, transferred or disposed of.”.

Limit on Sale of Assets. Except for Permitted Dispositions, the Borrowers Canadian Borrower shall not, and shall not permit any Subsidiaries Subsidiary thereof to, sell, transfer or otherwise dispose of any of their respective property or assets (ia) during the continuance of a Default or Event of Default or (iib) in any calendar year, where the aggregate fair market value thereof, whether in one transaction or a series of transactions, exceeds the greater of (Ai) U.S.$250,000,000 and (Bii) 5% of Consolidated Tangible Assets; provided that, in each case, for certainty, a sale, transfer or other disposition of property or assets to a Person at arm’s length from the Canadian Borrower and its Subsidiaries shall constitute prima facie evidence of the fair market value of such property or assets being sold, transferred or disposed of.