No Sale of Equipment. Without the prior written consent of Bank, Borrower shall not sell or otherwise dispose of any of the Equipment, except that items of Equipment may be sold or exchanged if such Equipment either (a) is replaced in the ordinary course of Borrower’s business to the satisfaction of Bank by Equipment of a similar value and which is subject to a security interest of Bank that is prior to all liens other than purchase money security interests or (b) has a fair market value (in the aggregate) of less than Ten Thousand Dollars ($10,000).
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Samples: Loan and Security Agreement (Halifax Corp), Loan and Security Agreement (Halifax Corp), Loan and Security Agreement (Halifax Corp)
No Sale of Equipment. Without the prior written consent of Bank, Borrower shall not sell or otherwise dispose of any of the Equipment, except that items of Equipment may be sold or exchanged if such Equipment either (a) is replaced in the ordinary course of Borrower’s 's business to the satisfaction of Bank by Equipment of a similar value and which is subject to a security interest of Bank that is prior to all liens other than purchase money security interests or (b) has a fair market value (in the aggregate) of less than Ten Thousand Dollars ($10,000).
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