No Sale of Assets. Without the prior written consent of Lessor, Lessee shall not sell all or substantially all of Lessee’s assets such that Lessee can no longer operate its business at the Properties, except in connection with an assumption of this Lease pursuant to Section 14.02(b) above. Any sale of Lessee’s assets in violation of this Section 14.03, shall be voidable at the sole option of Lessor. Any consent to a sale of Lessee’s assets given by Lessor hereunder shall not be deemed a consent to any subsequent sale of Lessee’s assets.
No Sale of Assets. Borrower shall not, during the term of the Loan, transfer any material portion of its assets unless such transfer is in the ordinary course of Borrower’s business, for fair market value and such fair market value is given to Borrower, in its sole name, and such transfer will not have a material adverse effect on the financial condition of Borrower and/or its ability to perform the obligations hereunder, as determined by Lender in its sole and absolute discretion.
No Sale of Assets. TFCRC shall not sell, transfer, exchange or ----------------- otherwise dispose of any of its assets except pursuant to securitization transactions as expressly permitted under the Transaction Documents.
No Sale of Assets. Except as set forth in Section 15.02, Tenant shall not, without the prior written consent of Landlord, sell all or substantially all of Tenant’s assets. Any sale of Tenant’s assets in violation of this Section 15.03, shall be voidable at the sole option of Landlord. Any consent to a sale of Tenant’s assets given by Landlord hereunder shall not be deemed a consent to any subsequent sale of Tenant’s assets.
No Sale of Assets. Borrower and Guarantor shall not, during the term of the Loan, transfer any material portion of their respective assets (other than Permitted Transfers) unless either (i) such transfer is in the ordinary course of Borrower’s or Guarantor’s business, for fair market value or reasonable consideration, and such transfer will not have a material adverse effect on the financial condition of Borrower or Guarantor and/or its ability to perform the obligations hereunder, as determined by Lender in its reasonable discretion, or (ii) (x) the consideration paid in connection therewith shall be cash or cash equivalents paid contemporaneous with consummation of the transaction and shall be in an amount not less than the fair market value of the property disposed of, (y) no Unmatured Event of Default or Event of Default shall have occurred and be continuing both immediately prior to and after giving effect to such transfer, and (z) the aggregate net book value of all of the assets sold or otherwise disposed of in such disposition together with the aggregate net book value of all assets sold or otherwise disposed of by the Loan Parties and their Subsidiaries in all such transactions occurring during the term of this Agreement does not exceed $500,000.
No Sale of Assets. No Credit Party shall, or shall permit any of its Subsidiaries to, directly or indirectly, sell, lease, assign, transfer or otherwise dispose of any assets other than (a) Inventory in the ordinary course of business, (b) obsolete or worn out property disposed of in the ordinary course of business and other dispositions of assets (other than Capital Securities); provided: (i) such dispositions described in the foregoing clause (b) are for fair value; (ii) one hundred percent (100%) of the consideration for each of such other dispositions is received by such Credit Party or such Subsidiary, as the case may be, in the form of cash; and (iii) the consideration for such other dispositions does not exceed, in the aggregate for Credit Parties and their Subsidiaries combined, for any fiscal year, $25,000.
No Sale of Assets. Without the prior written consent of Household Bank, Sellers shall not sell, lease, assign, transfer, encumber or permit the encumbrance of, or otherwise dispose of, any of the Credit Card Assets except pursuant to this Agreement or the Securitization Contracts and except for the use of the Consumable Inventory.
No Sale of Assets. No Borrower shall, or shall permit any of its Subsidiaries to, directly or indirectly, enter into any Asset Sale other than (a) any disposition of Cash Equivalents or inventory in the ordinary course of business or the lease or sublease of any real or personal property in the ordinary course of business, (b) dispositions of non-core businesses or assets of non-core businesses, PROVIDED that (i) such dispositions are for fair value; (ii) seventy-five percent (75%) of the consideration (net of disposal costs) for each of such dispositions is received by the applicable Borrower or Subsidiary in the form of cash; (iii) the cash consideration for such dispositions to the extent required to prepay Loans pursuant to SECTION 2.4(e) is immediately paid to the Agent for application in accordance with SECTION 2.5(d); and (iv) a Pro Forma Borrowing Base Certificate is delivered in accordance with SECTION 2.4(e); (c) any disposition of assets or property in the ordinary course of business to the extent such property or assets are obsolete, worn out or no longer useful in such Borrower's or such Subsidiary's business and (d) other dispositions of assets, provided that (i) such other dispositions are for fair value; (ii) one hundred percent (100%) of the consideration (net of disposal costs) for each of such other dispositions is received by the applicable Borrower or Subsidiary in the form of cash; and (iii) the aggregate consideration from and after the Closing Date for such other dispositions does not exceed, in the aggregate for all Borrowers and their respective Subsidiaries combined, $5,000,000.
No Sale of Assets. No Borrower shall, or shall permit any of its ----------------- Subsidiaries to, directly or indirectly, sell, lease, assign, transfer or otherwise dispose of any assets other than (a) Inventory in the ordinary course of business, (b) individual items of Collateral (other than any Capital Securities of any of its Subsidiaries), with a book value of less than, in the aggregate for all Borrowers and their respective Subsidiaries combined, during any Fiscal Year, $250,000, (c) the Permitted Dispositions, (d) outdated and worn out property disposed of in the ordinary course of business and (e) other dispositions of assets, provided that (i) such other dispositions are for fair value; (ii) one hundred percent (100%) of the consideration for each of such other dispositions is received by the applicable Borrower in the form of cash; and (iii) the consideration for such other dispositions does not exceed, in the aggregate for all Borrower and their respective Subsidiaries combined, for any Fiscal Year, $2,500,000.
No Sale of Assets. Sell, lease, assign, transfer or otherwise dispose of any assets whether in one or a series of transactions (whether or not related) other than: (a) Inventory in the ordinary course of business; (b) obsolete or worn out property disposed of in the ordinary course of business; (c) the disposition by Xxxxxxxxx Bahamas, Limited of its assets located in the Bahamas, provided the net proceeds of such assets shall be retained by Borrower or a Subsidiary; and (d) other dispositions of assets; PROVIDED that: (x) such other dispositions are for fair value; (y) the aggregate consideration (whether in the form of cash, promissory notes or other instruments) for such other dispositions does not exceed $500,000 in the aggregate for any fiscal year; and (z) such consideration is reinvested in the business of the Borrower.
