Common use of Limitation on Sales of Collateral Clause in Contracts

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 Hydrocarbons in the ordinary course of business and/or other sales to the extent pursuant to or as expressly allowed under this Agreement and the Security Documents encumbering such Collateral.

Appears in 3 contracts

Samples: Credit Agreement (Mallon Resources Corp), Credit Agreement (Black Hills Corp /Sd/), Credit Agreement (Atp Oil & Gas Corp)

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Limitation on Sales of Collateral. Borrower will not sell, transfer, lease, exchange, alienate or otherwise dispose of any Collateral or any interest therein, therein except for the sale for: (i) sales of Hydrocarbons Hydrocarbon production in the ordinary course of business and/or business, (ii) dispositions expressly permitted by other sales provisions of this Agreement, and (iii) dispositions to the extent pursuant to or as expressly allowed under this Agreement and the Security Documents encumbering such Collateralwhich Lender has granted its express written consent.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Kentucky USA Energy, Inc.)

Limitation on Sales of Collateral. Borrower Borrowers will not sell, transfer, lease, exchange, alienate or otherwise dispose of any Collateral or any interest therein, therein except for the sale for: (i) sales of Hydrocarbons Hydrocarbon production in the ordinary course of business and/or business, (II) dispositions expressly permitted by other sales to provisions of this Agreement, including the extent Sale of a Promoted Interest pursuant to or as expressly allowed under this Agreement Section 11.13, and the Security Documents encumbering such Collateral(iii) dispositions to which Lender has granted its express written consent.

Appears in 1 contract

Samples: Advancing Term Credit Agreement (Westside Energy Corp)

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Limitation on Sales of Collateral. Borrower will not sell, transfer, lease, exchange, alienate or otherwise dispose of any Collateral or any interest therein, therein except for the sale for: (i) sales of Hydrocarbons Hydrocarbon production in the ordinary course of business and/or business, (ii) dispositions expressly permitted by other sales provisions of this Agreement, including under Section 6.5, and (iii) dispositions to the extent pursuant to or as expressly allowed under this Agreement and the Security Documents encumbering such Collateralwhich Lender has granted its express written consent.

Appears in 1 contract

Samples: Term Credit Agreement (BPI Energy Holdings, Inc.)

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