Limitation on Sale of Property Sample Clauses

Limitation on Sale of Property. Neither any Borrower nor Parent Company will, and Parent Company will not permit any Company to, sell, assign, lease, sublease or discount or otherwise exchange or dispose of any of its Property other than (i) sales or leasing of inventory in the ordinary course of its business, and(ii) sales or other dispositions of obsolete equipment that is no longer needed for its ordinary business or which is being replaced by equipment of at least comparable value and utility to the equipment replaced when such equipment was efficiently operational and functional.
Sample 1
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Limitation on Sale of Property. Borrower will not sell, assign, lease, sublease or discount or otherwise exchange or dispose of any of its Property other than (i) sales of inventory in the ordinary course of its business, (ii) sales or other dispositions of obsolete equipment that is no longer needed for its ordinary business or which is being replaced by equipment of at least comparable value and utility to the equipment replaced when such equipment was efficiently operational and functional, and (iii) sales of fixed assets during each Fiscal Year which have an aggregate book value not in excess of 10% of the book value of Borrower's total fixed assets as of the beginning of such Fiscal Year.
Sample 1Sample 2
Limitation on Sale of Property. The Borrower will not and will not permit any Company to, sell, assign, lease, sublease or discount or otherwise exchange or dispose of any of its Property other than (i) sales of inventory in the ordinary course of its business, and (ii) sales or other dispositions of obsolete equipment that is no longer needed for its ordinary business or which is being replaced by equipment of at least comparable value and utility to the equipment replaced when such equipment was efficiently operational and functional.
Sample 1
Limitation on Sale of Property. Borrower will not, and will not permit any of its Subsidiaries to, sell, assign, lease, sublease or discount or otherwise exchange or dispose of any of its Property other than (i) sales of inventory in the ordinary course of its business, (ii) sales or other dispositions of obsolete equipment that is no longer needed for its ordinary business or which is being replaced by equipment of at least comparable value and utility to the equipment replaced when such equipment was efficiently operational and functional, (iii) sales of previously viewed video tapes, and (iv) sales of fixed assets (which shall not include sales of previously viewed video tapes) during each Fiscal Year which have an aggregate book value not in excess of 10% of the book value of Borrower's and its Subsidiaries' total fixed assets as of the beginning of such Fiscal Year.
Sample 1
Limitation on Sale of Property. Neither Borrower nor any Subsidiary will sell, assign, exchange, transfer, lease, sublease or discount any assets, including, without limitation, any Properties, accounts receivable, and capital stock of any Subsidiary other than (i) sales of Hydrocarbons in the ordinary course of Borrower's business, (ii) sales or other dispositions of obsolete or damaged Oil and Gas Properties, or Oil and Gas Properties having a limited remaining useful value, or Oil and Gas Properties which are no longer needed for any Borrower's ordinary business or which are being replaced by Oil and Gas Properties of at least comparable value and utility, (iii) sales of Properties not exceeding in any Fiscal Year $200,000 in the aggregate, (iv) the resale of certain Properties, which are not included in the Borrowing Base and which are acquired after the date hereof for resale to third-parties at not less than the purchase price for such properties or interests therein paid by Borrower therefor and (v) sale of land in Texas owned by Borrower which is currently listed for sale, and sublease of a portion of Borrower's office space in Denver, Colorado. For any and all other sales of Properties, Borrower shall have first obtained the prior written consent of Lender and the Borrowing Base shall be reduced upon each such permitted sale in an amount equal to the Borrowing Base value attributed to such Properties by Lender at the date of any such sale and a substantial amount of the proceeds of such sale or sales shall be used to reduce the outstanding balance of the Loan,
Sample 1

Related to Limitation on Sale of Property

  • Limitation on Sale of Assets Convey, sell, lease, assign, transfer or otherwise dispose of any of its property, business or assets (including, without limitation, receivables and leasehold interests), whether now owned or hereafter acquired, except:

  • Limitation on Sales of Property No Restricted Person will sell, transfer, lease, exchange, alienate or dispose of any Collateral or any of its material assets or properties or any material interest therein except:

  • Limitation on Disposition of Property Dispose of any of its Property (including, without limitation, receivables and leasehold interests), whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell any shares of such Subsidiary’s Capital Stock to any Person, except:

  • Limitations on Sale of Assets Convey, sell, lease, assign, transfer or otherwise dispose of any of its property, business or assets (including, without limitation, the sale of any receivables and leasehold interests and any sale-leaseback or similar transaction), whether now owned or hereafter acquired except:

  • Limitation on Sales Each holder of this Warrant acknowledges that this Warrant and the Warrant Shares, as of the date of original issuance of this Warrant, have not been registered under the Securities Act of 1933, as amended ("Act"), and agrees not to sell, pledge, distribute, offer for sale, transfer or otherwise dispose of this Warrant or any Warrant Shares issued upon its exercise in the absence of (a) an effective registration statement under the Act as to this Warrant or such Warrant Shares or (b) an opinion of counsel, satisfactory to the Company, that such registration and qualification are not required. The Warrant Shares issued upon exercise thereof shall be imprinted with a legend in substantially the following form: "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") OR APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED, ASSIGNED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS OR IN A TRANSACTION WHICH IS EXEMPT FROM REGISTRATION UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS."

  • Limitation on Liens Create, incur, assume or suffer to exist any Lien upon any of its Property, whether now owned or hereafter acquired, except for:

  • Sale of Property Seller agrees to sell, transfer and assign and Buyer agrees to purchase, accept and assume, subject to the terms and conditions set forth in this Agreement and the Closing Documents, all of Seller’s right, title and interest in and to the Property.

  • Limitation on Disposition of Assets The Company is, subject to certain conditions, obligated to make an offer to purchase Securities at 100% of their principal amount plus accrued and unpaid interest to the date of repurchase with certain net cash proceeds of certain sales or other dispositions of assets in accordance with the Indenture.

  • Limitation on Leases Neither the Borrower nor any Restricted Subsidiary will create, incur, assume or suffer to exist any obligation for the payment of rent or hire of Property of any kind whatsoever (real or personal but excluding Capital Leases and leases of Hydrocarbon Interests and firm transportation contracts or arrangements), under leases or lease agreements which would cause the aggregate amount of all payments made by the Borrower and the Restricted Subsidiaries pursuant to all such leases or lease agreements, including, without limitation, any residual payments at the end of any lease, to exceed $25,000,000 in any period of twelve consecutive calendar months during the life of such leases.

  • Limitation on Sales and Leasebacks Enter into any arrangement with any Person providing for the leasing by the Borrower or any Subsidiary of real or personal property which has been or is to be sold or transferred by the Borrower or such Subsidiary to such Person or to any other Person to whom funds have been or are to be advanced by such Person on the security of such property or rental obligations of the Borrower or such Subsidiary.

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