Common use of Restrictions on Dispositions Clause in Contracts

Restrictions on Dispositions. Subject to the provisions of subsections 7.9 and 7.10, the Borrower will not make and will not permit any of its Subsidiaries to make, any Asset Disposition unless the Borrower (or the Subsidiary, as the case may be) receives, at the time of such Asset Disposition, consideration with a Fair Market Value at least equal to the Fair Market Value of the securities, assets or other Property sold or otherwise disposed of. In determining the Fair Market Value of the consideration received for any Asset Disposition, in addition to any other adjustment necessary to determine such consideration's Fair Market Value, any payment or other amount that is to be received after the date of such Asset Disposition (whether paid pursuant to a note or installment receivable or otherwise or in the form of a dividend or distribution on any shares of any Person's Capital Stock) shall be valued at the net present value of such payment or other amount calculated by discounting such payment or other amount to the date of such Asset Disposition using an assumed discount rate proposed by the Borrower and reasonably acceptable to the Agent.