Limitation on Sales of Collateral. Borrower will not sell, transfer, lease, exchange, alienate or dispose of any of the Collateral except as follows (and the following exceptions shall be subject to any limitations contained in the Security Documents) (i) oilfield equipment, service and supply assets sold in the ordinary course of business and (ii) inventory (including oil and gas sold as produced) which is sold in the ordinary course of business.
Appears in 3 contracts
Samples: Credit Agreement (Recovery Energy, Inc.), Credit Agreement (Recovery Energy, Inc.), Credit Agreement (Recovery Energy, Inc.)
Limitation on Sales of Collateral. Borrower will not sell, transfer, lease, exchange, alienate or dispose of any Collateral or any interest therein, except for the sale of the Collateral except as follows (and the following exceptions shall be subject to any limitations contained in the Security Documents) (i) oilfield equipment, service and supply assets sold Hydrocarbons in the ordinary course of business and/or other sales to the extent pursuant to or as expressly allowed under this Agreement and (ii) inventory (including oil and gas sold as produced) which is sold in the ordinary course of businessSecurity Documents encumbering such Collateral.
Appears in 3 contracts
Samples: Credit Agreement (Black Hills Corp /Sd/), Credit Agreement (Atp Oil & Gas Corp), Credit Agreement (Mallon Resources Corp)
