Common use of Limitation on Sales Clause in Contracts

Limitation on Sales. No Borrower shall, and Anixter shall not permit any Subsidiary of Anixter to, directly or indirectly sell, assign, transfer, lease, convey or otherwise Dispose of any properties or assets, including, without limitation, any capital stock of any Subsidiary, whether now owned or hereafter acquired, or any income or profits therefrom, except for: (i) sales of inventory in the ordinary course of business; (ii) the Disposition of obsolete equipment in the ordinary course of business; (iii) sales by Anixter of stock of a Subsidiary held by it, in any transaction or series of related transactions not constituting a Material Transaction, individually or taken together; (iv) sales, assignments, transfers, leases, conveyances or other dispositions of other assets, other than the stock of any Subsidiary, for cash consideration and for not less than fair market value which do not constitute a Material Transaction individually or in the aggregate (together with all sales of stock of any Subsidiary under clause (iii) above); (v) sales, assignments, transfers, leases, conveyances or other Dispositions of assets to Anixter or a Subsidiary; (vi) transfers of assets to any Affiliate for less than fair market value to the extent such transfer constitutes a permitted Investment pursuant to Section 7.03; and (vii) Receivables Securitization Transactions as to which the outstanding aggregate investments and principal amount of claims held at any time by all purchasers, assignees and other transferees of (or of interests in) receivables and other rights to payment in all Receivables Securitization Transactions shall not at any time exceed in the aggregate US$400,000,000.

Limitation on Sales. No Borrower shall, and Anixter shall not permit any Subsidiary of Anixter to, directly or indirectly sell, assign, transfer, lease, convey or otherwise Dispose dispose of any properties or assets, including, without limitation, any capital stock of any Subsidiary, whether now owned or hereafter acquired, or any income or profits therefrom, except for: (i) sales of inventory in the ordinary course of business; (ii) the Disposition disposition of obsolete equipment in the ordinary course of business; (iii) sales by Anixter of stock of a Subsidiary held by it, in any transaction or series of related transactions not constituting a Material Transaction, individually or taken together; (iv) sales, assignments, transfers, leases, conveyances or other dispositions of other assets, other than the stock of any Subsidiary, for cash consideration and for not less than fair market value which do not constitute a Material Transaction individually or in the aggregate (together with all sales of stock of any Subsidiary under clause (iii) above); (v) sales, assignments, transfers, leases, conveyances or other Dispositions dispositions of assets to Anixter or a Subsidiary; (vi) transfers of assets to any Affiliate for less than fair market value to the extent such transfer constitutes a permitted Investment pursuant to Section 7.03; and (vii) Receivables Securitization Transactions as to which the outstanding aggregate investments and investment or principal amount of claims held at any time by all purchasers, assignees and or other transferees of (or of interests in) receivables and other rights to payment in all Receivables Securitization Transactions shall not at any time exceed in the aggregate US$400,000,000350,000,000.