Common use of Restriction on Personal Property Clause in Contracts

Restriction on Personal Property. Borrower shall not sell, convey, or otherwise transfer or dispose of its interest in any personal property in which Bank has a security interest, or contract to do any of the foregoing, without the prior written consent of Bank in each instance, unless Borrower replaces such property with like kind property.

Restriction on Personal Property. Except for the replacement of personal property made in the ordinary course of Borrower’s business with items of equal or greater value, Borrower shall not sell, convey, convey or otherwise transfer or dispose of its interest in any personal property in which Bank has a security interest, or contract to do any of the foregoing, without the prior written consent of Bank in each instance, unless Borrower replaces such property with like kind property.

Restriction on Personal Property. Borrower shall not sell, convey, or otherwise transfer or dispose of its interest in any personal property in which Bank has a security interest, or contract to do any of the foregoing, without the prior written consent of Bank in each instance, unless Borrower replaces such property with like kind property.

Restriction on Personal Property. Borrower shall not sell, convey, or otherwise transfer or dispose of its interest in any personal property in which Bank has a security interest, Personal Property or contract to do any of the foregoing, without the prior written consent of Bank Baypoint in each instance, unless Borrower replaces except such property with like kind propertyPersonal Property as is customarily transferred in the ordinary course of operation of residential developments similar to the Property.