Common use of LIMITATION ON SALE OF PROPERTIES Clause in Contracts

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, except in the ordinary course of its business and for a fair consideration, or (ii) sell, assign or discount any Accounts.

Appears in 1 contract

Samples: Revolving Credit Agreement (Nn Ball & Roller Inc)

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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 Accountsaccounts receivable except in the ordinary course of business or to secure bank or commercial working capital loans in the ordinary course of business. Section 6.08.

Appears in 1 contract

Samples: Convertible Debenture Loan Agreement (Contour Medical Inc)

LIMITATION ON SALE OF PROPERTIES. Borrower shall not, and shall not permit any of its Subsidiaries to (ia) sell, assign, convey, exchange, lease lease, or otherwise dispose of any of its properties, rights, assets or business, whether now owned or hereafter acquired, except in excess of $500,000 in the aggregate in any fiscal year outside the ordinary course of its business and for a fair considerationbusiness, or (iib) sell, assign assign, or discount any AccountsReceivable.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Tandy Brands Accessories Inc)

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LIMITATION ON SALE OF PROPERTIES. (a) Borrower shall not, and shall not permit its Subsidiaries if any, except as disclosed on Exhibit 6.07, 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 Accountsaccounts receivable except in the ordinary course of business or to secure bank or commercial working capital loans.

Appears in 1 contract

Samples: Convertible Debenture Loan Agreement (Packaging Research Corp)

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