SALE OF ASSETS, LIQUIDATION OR MERGER. Borrower will not liquidate, dissolve or enter into any consolidation, merger, partnership or other combination, or convey, sell or lease all or the greater part of its assets or business, or purchase or lease all or the greater part of the assets or business of another.
SALE OF ASSETS, LIQUIDATION OR MERGER. Borrower will neither liquidate nor dissolve nor enter into any unallowable consolidation or merger where it is not the surviving entity and management team, partnership or other combination, nor convey, nor sell, nor lease all or the greater part of its assets or business, nor lease all or the greater part of the assets or business of another.
SALE OF ASSETS, LIQUIDATION OR MERGER. Borrower will neither liquidate nor dissolve nor enter into any consolidation, merger, partnership or other combination, nor convey, nor sell, nor lease all or the greater part of its assets or business, nor purchase or lease all or the greater part of the assets or business of another; provided, however, Borrower may acquire, merge or consolidate with another corporation if Borrower is the surviving corporation and the aggregate value of the assets so transferred does not exceed Ten Million Dollars ($10,000,000) in any fiscal year and such assets will not be subject to any lien or encumbrance following the effective date of such combination.
SALE OF ASSETS, LIQUIDATION OR MERGER. If any any event of default shall exist, neither Borrower will liquidate or dissolve or enter into any consolidation, merger, partnership or other combination, or convey, or sell, or lease all or the greater part of its assets or business, or purchase or lease all or the greater part of the assets or business of another.
SALE OF ASSETS, LIQUIDATION OR MERGER. Borrower will neither liquidate nor dissolve nor enter into any consolidation, merger, partnership or other combination, nor convey, nor sell, nor lease all or the greater part of its assets or business, nor purchase or lease all or the greater part of the assets or business of another; provided, however, Borrower may acquire, merge or consolidate with another corporation if Borrower is the surviving corporation and the aggregate value of the assets so transferred does not exceed Twenty-Five percent (25%) of Borrower's tangible net worth as of the end of the month prior to the effective date of such combination and such assets will not be subject to any lien or encumbrance following the effective date of such combination.
SALE OF ASSETS, LIQUIDATION OR MERGER. Borrower will not liquidate or dissolve or enter into any transaction resulting in a Change in Control.
SALE OF ASSETS, LIQUIDATION OR MERGER. Borrower will not liquidate, dissolve or enter into any consolidation, merger, partnership or other combination, nor convey, sell or lease all or the greater part of its assets or business, nor purchase or lease all or the greater part of the assets or business of another; provided, however, that Borrower may purchase all or the greater part of the assets or business of another so long as (a) no Event of Default or event which, with the lapse of time or notice, or both, would become an Event of Default, has occurred and is continuing or would result therefrom, (b) Borrower provides Bank with prior written notice thereof and (c) the sum of (i) the aggregate amount of all such acquisitions plus (ii) the aggregate outstanding principal amount of all loans, advances and guaranties permitted under subsection 5.4(b) hereof shall not exceed Five Million Dollars ($5,000,000) at any time.
SALE OF ASSETS, LIQUIDATION OR MERGER. Borrower will neither liquidate nor dissolve nor enter into any consolidation, merger, partnership or other combination, nor convey, nor sell, nor lease all or the greater part of its assets or business, nor purchase or lease all or the greater part of the assets or business of another."
SALE OF ASSETS, LIQUIDATION OR MERGER. Borrower will neither liquidate nor dissolve nor enter into any consolidation, merger, partnership or other combination, nor convey, sell or lease all or the greater part of its assets or business, nor acquire all or the greater part of the assets or business of another; provided, however, Borrower may merge or consolidate with another corporation, and may acquire all or the greater part of the assets or business of another, if (a) Borrower is in compliance with the covenants of this Agreement immediately following the consummation of such transaction, (b) the aggregate compensation paid or to be paid by Borrower in connection with such transaction does not exceed fifteen percent (15%) of Borrower's Tangible Net Worth as of the last day of the calendar month immediately preceding the calendar month in which such transaction is consummated, (c) the assets acquired in connection with such transaction are not, following the consummation of such transaction, subject to any lien or encumbrance in favor of any person or entity other than Bank unless otherwise permitted by the terms of this Agreement, and (d) if such transaction is a merger or consolidation, Borrower is the surviving corporation.
SALE OF ASSETS, LIQUIDATION OR MERGER. Borrower will not, and will not permit any Subsidiary to (a) liquidate, dissolve or enter into any consolidation, merger, partnership, joint venture or other combination, (b) convey, sell or lease all or the greater part of its assets or business, or (c) purchase or lease all or the greater part of the assets or business of another if the total purchase price exceeds Thirty Million Dollars ($30,000,000) or the cash consideration exceeds Fifteen Million Dollars ($15,000,000).
