Common use of No disposal of assets Clause in Contracts

No disposal of assets. No Borrower or the Guarantor shall transfer, lease or otherwise dispose (each a Disposal) of: (a) all or a substantial part of its assets, whether by one transaction or a number of transactions, whether related or not; or (b) any debt payable to it or any other right (present, future or contingent right) to receive a payment, including any right to damages or compensation, it being agreed that any chartering arrangements permitted pursuant to Clause 13.12 shall not constitute a Disposal.

No disposal of assets. No The Borrower or the shall procure that no Guarantor shall transfer, lease or otherwise dispose (each a Disposal) of: (a) all or a substantial part of its respective assets, whether by one transaction or a number of transactions, whether related or not; or (b) any debt payable to it or any other right (present, future or contingent right) to receive a payment, including any right to damages or compensation, it being agreed that but paragraph (a) does not apply to any chartering arrangements permitted pursuant charter of a Ship to which Clause 13.12 shall not constitute a Disposal14.3 (Repair and classification) applies.

No disposal of assets. No Borrower or the Guarantor shall transfer, lease or otherwise dispose (each a Disposal) of: (a) all or a substantial part of its assets, whether by one transaction or a number of transactions, whether related or not; or (b) any debt payable to it or any other right (present, future or contingent right) to receive a payment, including any right to damages or compensation, it being agreed that any chartering arrangements permitted pursuant to Clause clause 13.12 shall not constitute a Disposal.

No disposal of assets. No The Borrower shall procure that no Guarantor or the Collateral Guarantor shall transfer, lease or otherwise dispose (each a Disposal) of: (a) all or a substantial part of its respective assets, whether by one transaction or a number of transactions, whether related or not; or (b) any debt payable to it or any other right (present, future or contingent right) to receive a payment, including any right to damages or compensation, it being agreed that but paragraph (a) does not apply to any chartering arrangements permitted pursuant charter of a Ship to which Clause 13.12 shall not constitute a Disposal14.13 applies.