Common use of Merger; Consolidation; Sale or Lease of Assets Clause in Contracts

Merger; Consolidation; Sale or Lease of Assets. Neither the Company ---------------------------------------------- nor any of its Subsidiaries shall sell, lease or otherwise dispose of assets or properties (valued at the lower of cost or market), other than sales of inventory in the ordinary course of business, in the aggregate in excess of $500,000 in any fiscal year; or liquidate, merge or consolidate into or with any other person or entity, provided that any Subsidiary of the Company may merge or -------- consolidate into or with (i) the Company if no Default has occurred and is continuing or would result from such merger and if the Company is the surviving company, or (ii) any other wholly-owned Subsidiary of the Company.

Merger; Consolidation; Sale or Lease of Assets. Neither the Company ---------------------------------------------- nor any of its Subsidiaries shall sell, lease or otherwise dispose of assets or properties (valued at the lower of cost or market), other than sales of inventory in the ordinary course of businessbusiness or the disposition of damaged and/or obsolete equipment, in the aggregate in excess of $500,000 10% of Consolidated Tangible Net Worth in any fiscal year; or liquidate, merge or consolidate into or with any other person or entity, provided that any Subsidiary of the Company may merge or -------- consolidate into or with (i) the Company if no Default has occurred and is continuing or would result from such merger and if the Company is the surviving company, or (ii) any other wholly-owned Subsidiary of the Company.