Common use of Limitations on Sale of Assets Clause in Contracts

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: (a) the sale of obsolete assets no longer used or usable in the business of the Borrower; and (b) the sale of assets which are replaced in the ordinary course of business, the fair market value of which shall not exceed $500,000 with respect to any transaction and $2,000,000 in the aggregate for all such transactions during the term of this Agreement.

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: except (ai) the sale of obsolete assets no longer used or usable in the business of the Borrower; and Borrower and (bii) the sale of assets which are replaced in the ordinary course of business, business and other assets the fair market value of which shall not exceed $500,000 with respect to any transaction and $2,000,000 in the aggregate for all such transactions during the term of this Agreement.