No Sale Or Transfer Of Assets. No BORROWER shall sell, transfer, lease or otherwise dispose of all or any part of the COLLATERAL, or all or any part of any of its other assets, except that INVENTORY may be sold to ACCOUNT DEBTORS in the ordinary course of a BORROWER’S business, and items of equipment may be disposed of in the ordinary course of business so long as they are promptly replaced with new equipment of equal or greater value.
No Sale Or Transfer Of Assets. Neither of the BORROWERS shall sell, transfer, lease or otherwise dispose of all or any part of the COLLATERAL, or all or any part of any of its other assets, except that INVENTORY may be sold to ACCOUNT DEBTORS in the ordinary course of a BORROWER'S business.
No Sale Or Transfer Of Assets. The BORROWER shall not sell, transfer, lease or otherwise dispose of all or any part of the COLLATERAL, or all or any part of any of its other assets, except that:
(a) INVENTORY may be sold to ACCOUNT DEBTORS in the ordinary course of business; (b) items of EQUIPMENT may be sold or exchanged if that EQUIPMENT is replaced in the ordinary course of the BORROWER'S business to the satisfaction of the LENDER by EQUIPMENT of a similar value and which is subject to the first lien security interest of the LENDER provided for herein; and (c) items of EQUIPMENT which are not longer used in the BORROWER's business (excluding EQUIPMENT replaced in accordance with Subsection 7.2(b) above) may be sold or disposed of provided that the aggregate book value of such EQUIPMENT sold or disposed of at any one time shall not exceed Fifty Thousand Dollars ($50,000.00), and the aggregate book value of such EQUIPMENT sold or disposed of in any FISCAL YEAR shall not exceed One Hundred Thousand Dollars ($100,000.00).
No Sale Or Transfer Of Assets. None of the BORROWERS shall sell, transfer, lease or otherwise dispose of all or any part of the COLLATERAL, or all or any part of any of its other assets, except that: (a) EQUIPMENT which is no longer necessary or required in the conduct of the BORROWERS’ business may be sold or transferred in the ordinary course of business; (b) assets may be sold or transferred between the BORROWERS; and (c) in addition to sales and transfers permitted pursuant to 6.2(a) and 6.2(b), the BORROWERS may make sales of assets of the BORROWERS for fair market value, provided that the aggregate amount of such sales in any FISCAL YEAR does not exceed Two Hundred Fifty Thousand Dollars ($250,000.00).
No Sale Or Transfer Of Assets. None of the COMPANIES shall sell or transfer any of their assets other than (i) sales of INVENTORY in the ordinary course of the COMPANIES' businesses, (ii) sales of obsolete or unusable EQUIPMENT (excluding the EQUIPMENT purchased by the BORROWER with the proceeds of the LOAN), (iii) sales of other items of EQUIPMENT (excluding the EQUIPMENT purchased by the BORROWER with the proceeds of the LOAN) for fair consideration provided that the aggregate book value of EQUIPMENT sold in any one FISCAL YEAR shall not exceed fifteen percent (15%) of the aggregate book value of the COMPANIES' EQUIPMENT, and (iv) transfers of assets from one GUARANTOR to another GUARANTOR provided that the LENDER is given not less than thirty (30) days prior written notice of any such transfer.
No Sale Or Transfer Of Assets. Without the consent of the LENDER, which consent shall not be unreasonably withheld, the BORROWER shall not sell, transfer, lease or otherwise dispose of all or any part of the COLLATERAL, or all or any party of its other assets, except that, without the consent of the LENDER (a) INVENTORY may be sold to ACCOUNT DEBTORS in the ordinary course of the BORROWER’S business, (b) software of which BORROWER is the owner may be sold at not less than its fair market value, and (c) EQUIPMENT of BORROWER may be sold if such sales occur in the ordinary course of the BORROWER’S business and the proceeds thereof are used either to make a principal payment on the LOAN or for such other purpose as the LENDER may hereafter agree.
No Sale Or Transfer Of Assets. None of the BORROWERS shall sell, transfer, lease or otherwise dispose of all or any part of the COLLATERAL, or all or any part of any of its other assets, except that (a) INVENTORY may be sold to ACCOUNT DEBTORS in the ordinary course of a BORROWERS business and (b) provided no DEFAULT or EVENT OF DEFAULT has occurred, INVENTORY not qualifying as ELIGIBLE INVENTORY or included in the BORROWING BASE in an amount not to exceed One Hundred Thousand Dollars ($100,000.00), in the aggregate, may be sold to PERSONS other than ACCOUNT DEBTORS.
No Sale Or Transfer Of Assets. The BORROWER shall not sell, transfer, lease or otherwise dispose of all or any part of the COLLATERAL, or all or any part of any of its other assets, except that: (a) INVENTORY may be sold to ACCOUNT DEBTORS in the ordinary course of the BORROWER'S business; and (b) whether or not there is a DEFAULT, the BORROWER may use the "MONEY MARKET FUNDS" to pay (i) up to Three Hundred Thousand Dollars ($300,000.00) of the expenses relating to the sale of the BORROWER'S virtual production line, and (ii) up to Eight Hundred Thousand Dollars ($800,000.00) in final payment of the note issued in connection with the acquisition of the assets of Scitex Digital Video, Inc. As used herein, the term "MONEY MARKET FUNDS" means the monies held by the BORROWER in Account Number 1890670308 at Comerica Bank.
No Sale Or Transfer Of Assets. Borrower shall not sell, transfer, lease or otherwise dispose of all or any part of the Collateral, or any material part of its other assets, except that Borrower, in the ordinary course of its business, and in the absence of an Event of Default or a contrary direction by Lender pursuant to this Agreement, may collect its accounts, chattel paper and payment intangibles and may sell its inventory in the ordinary course of its business.
No Sale Or Transfer Of Assets. No GUARANTOR shall not sell, transfer, lease or otherwise dispose of all or any part of the COLLATERAL, or all or any part of any of their other assets, except that: (a) INVENTORY may be sold or leased to account debtors in the ordinary course of business; and (b) items of equipment may be sold or exchanged if that equipment is replaced in the ordinary course of the GUARANTORS' businesses to the satisfaction of the LENDER by equipment of a similar value and which is subject to the first lien security interest of the LENDER provided for herein.
