Merger, Consolidation, Dissolution or Liquidation. (a) Borrower shall not engage in any Asset Sale other than: (i) Inventory sold in the ordinary course of Borrower’s business; (ii) equipment that is replaced by other equipment of comparable or superior quality and value within ninety (90) days of such Asset Sale; (iii) a sale of property in one transaction or a series of transactions with a fair market value of less than One Hundred Thousand Dollars ($100,000) during any six month period; or (iv) Permitted Dispositions. (b) Borrower shall not merge or consolidate with any other Person or commence a dissolution or liquidation.
Appears in 5 contracts
Samples: Loan Agreement (Newtek Business Services Corp.), Loan and Security Agreement (Newtek Business Services, Inc.), Loan and Security Agreement (Newtek Business Services, Inc.)
