Liquidation, Mergers, Consolidations and Dispositions of Substantial Assets. Unless such event has been previously approved by Bank in its sole discretion, Borrower shall not dissolve or liquidate, or become a party to any merger or consolidation, or acquire by purchase, lease or otherwise, all or a substantial part of the assets of any Person, or sell, transfer, lease or otherwise dispose of all or a substantial part of its property or assets, except for the sale of Inventory in the ordinary course of business.
Appears in 2 contracts
Samples: Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.), Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.)
Liquidation, Mergers, Consolidations and Dispositions of Substantial Assets. Unless such event has been previously approved by Bank in its sole discretion, Borrower shall will not dissolve or liquidate, or become a party to any merger or consolidation, other than a merger of its subsidiaries into Borrower or acquire by purchase, lease lease, or otherwise, otherwise all or a substantial part substantially all of the assets Property or Stock of any Person, or sell, transfer, lease lease, or otherwise dispose of all or a any substantial part of its property Properties or assetsbusiness, except for without the sale prior consent of Inventory in the ordinary course of businessBank.
Appears in 2 contracts
Samples: Revolving Loan and Security Agreement (Ironclad Performance Wear Corp), Revolving Loan and Security Agreement (Ironclad Performance Wear Corp)
