LIMITATION ON SALE OF PROPERTIES. (a) Borrower shall not, and shall not permit its Subsidiaries (if any) to (i) sell, assign, convey, exchange, lease or otherwise dispose of any of its properties, rights, assets or business, whether now owned or hereafter acquired, except in the ordinary course of its business and for a fair consideration, or (ii) sell, assign or discount any accounts receivable except in the ordinary course of business or to secure bank or commercial working capital loans in the ordinary course of business.
LIMITATION ON SALE OF PROPERTIES. Borrower shall not, and shall not permit its Subsidiaries to, (i) sell, assign, convey, exchange, lease or otherwise dispose of any of its properties, rights, assets or business (including the capital stock of its operating Subsidiaries), whether now owned or hereafter acquired, without the consent of the Lenders, except in the ordinary course of business, or (ii) sell, assign or discount any accounts receivable, except in the ordinary course of business (which shall include receivable financing or securitization), in each case without the consent of the Lenders; provided, however, that Borrower may sell its securities to unaffiliated third parties for fair market value and to employees under its existing stock option plan.
LIMITATION ON SALE OF PROPERTIES. No Borrower shall sell, assign, convey, exchange, lease or otherwise dispose of any of its properties, rights, assets or business, whether now owned or hereafter acquired, except in the ordinary course of its business.
LIMITATION ON SALE OF PROPERTIES. Company will not, and will not permit any of the Subsidiaries to, (a) sell, assign, convey, exchange, lease or otherwise dispose of any of its properties, rights, or assets, whether now owned or hereafter acquired, except for sales of severed hydrocarbons or used, obsolete or worn-out equipment which are made in the ordinary course of its business and for a fair consideration; provided, however, that Company or any Subsidiary may, for fair consideration, sell, assign, convey, exchange, lease or otherwise dispose of (i) properties, rights, assets or business which are not included for purpose of determining the Borrowing Base, and (ii) provided no Event of Default exists hereunder, (1) Mineral Properties (exclusive of HGT Units and ART Units) which are included for the purpose of determining the Borrowing Base if the aggregate net proceeds (cash or otherwise) received by Company and its Subsidiaries from all such sale or sales of such Mineral Properties do not exceed $110,000,000 during any calendar year and (2) HGT Units and/or ART Units which are included for the purpose of determining the Borrowing Base if the net proceeds (cash or otherwise) received by Company and its Subsidiaries from all of such sale or sales of such HGT Units and/or ART Units do not exceed $175,000,000 during any calendar year, or (b) sell, assign or discount, except for fair consideration, any accounts receivable. As to such sales of Mineral Properties, HGT Units and ART Units that are permitted under this Section 9.07, (i) unless and to the extent Section 8.24(a) or (b) shall apply, the initial $5,000,000 in net sales proceeds from such sales shall be retained by Company without any obligation for payment to Banks of any portion of such proceeds as a mandatory principal payment on the Loan according Section 8.24, (ii) there shall be no reduction to the Borrowing Base under Section 5.05 hereof on account of such sales until the Property Sale Threshold has occurred, (iii) for all permitted sales of Mineral Properties, HGT Units and ART Units that occur after the Property Sale Threshold has occurred for each calendar year, the Borrowing Base shall be reduced by excluding the Borrowing Base value of the Mineral Properties, HGT Units and ART Units that are subject to such sales according to Section 5.05(a) and (b) and Company shall use and apply the net proceeds from such sales in the manner provided in Section 8.24 and (iv) following such sales, Company shall comply with Section 8.20,...
LIMITATION ON SALE OF PROPERTIES. Neither Borrower nor any Guarantor shall sell, assign, convey, exchange, lease or otherwise dispose of any of its properties, rights, assets or business, whether now owned or hereafter acquired, except in the ordinary course of its business.
LIMITATION ON SALE OF PROPERTIES. The Company will not, and will not permit any Subsidiary to, sell, assign, convey, exchange, lease or otherwise dispose of any of its Properties (including accounts receivable and pawn loans), whether now owned or hereafter acquired, except in the ordinary course of its business; provided, however, that the Company and the Subsidiaries may sell Properties having an aggregate net book value (at the time of the disposition thereof) not in excess of $5,000,000 during any Fiscal Year and, provided further, that this Section 9.15 shall not operate to prevent the transactions permitted by Section 9.14 or Section 9.16 or any sale, transfer or lease of Property by a Wholly-Owned Subsidiary to the Company or to another Wholly-Owned Subsidiary and, provided further, that the Company will not, and will not permit any Subsidiary to, sell, assign, discount or otherwise dispose of any accounts receivable, except in the ordinary course of business consistent with the Company's collection practices as in effect from time to time and not a part of a financing.
LIMITATION ON SALE OF PROPERTIES. Neither Borrower nor any Subsidiary shall sell, assign, convey, exchange, lease or otherwise dispose of any of its properties, rights, assets or business, whether now owned or hereafter acquired, except (a) in the ordinary course of its business, and (b) obsolete or worn out property, or equipment sold in contemplation of the acquisition of replacement equipment of at least equal value or utility.
LIMITATION ON SALE OF PROPERTIES. Borrower shall not (i) sell, assign, convey, exchange, lease or otherwise dispose of any of its properties, rights, assets or business, whether now owned or hereafter acquired, without the consent of the Lender, except in the ordinary course of business, or (ii) sell, assign or discount any accounts receivable, except in the ordinary course of business (which shall include receivable financing or securitization), in each case without the consent of the Lender; provided, however, that Borrower may sell its securities to unaffiliated third parties at the current trading price, but not less than the conversion price and to employees under its existing stock option plan.
LIMITATION ON SALE OF PROPERTIES. Borrower will not, and will ensure each REO Affiliate does not, sell, assign, convey, exchange, lease or otherwise dispose of any of its properties, rights, assets or business, whether now owned or hereafter acquired, except in the ordinary course of its business and for a fair consideration, and in such event shall immediately pay such proceeds into the Lockbox Account to be applied pursuant to Section 3.06.
LIMITATION ON SALE OF PROPERTIES. Borrower shall not, and shall not permit any of its Subsidiaries to (a) sell, assign, exchange, lease, or otherwise dispose of any of its properties, rights, assets or business, whether now owned or hereafter acquired, in excess of $500,000 in the aggregate in any fiscal year outside the ordinary course of its business, or (b) sell, assign, or discount any Receivable.
