Common use of Sale of Assets; Merger Clause in Contracts

Sale of Assets; Merger. No Security Party shall sell, transfer or lease (other than in connection with a Charter) all or substantially all of its properties and assets, or enter into any transaction of merger or consolidation or liquidate, windup or dissolve itself (or suffer any liquidation or dissolution) provided that a Borrower may sell the Ship owned by it pursuant to the terms of this Agreement.

Sale of Assets; Merger. No Security Party shall sell, transfer or lease (other than in connection with a Charter) all or substantially all of its properties and assets, or enter into any transaction of merger or consolidation or liquidate, windup or dissolve itself (or suffer any liquidation or dissolution) provided that (i) a Borrower may sell the Ship owned by it pursuant to the terms of this AgreementAgreement and (ii) it shall not be a breach of this covenant for a Borrower to dispose of up to 10% of its properties and assets.

Sale of Assets; Merger. No Security Party shall sell, transfer or lease (other than in connection with a Charter) all or substantially all of its properties and assets, or enter into any transaction of merger or consolidation or liquidate, windup or dissolve itself (or suffer any liquidation or dissolution) provided that a Borrower Guarantor may sell the Ship owned by it pursuant to the terms of this Agreement.

Sale of Assets; Merger. No Each Security Party shall not sell, transfer or lease (other than in connection with a Charter) all or substantially all of its properties and assets, or enter into any transaction of merger or consolidation or liquidate, windup or dissolve itself (or suffer any liquidation or dissolution) ), provided that a any Borrower may sell the its respective Ship owned by it pursuant to the terms and conditions of this Agreement.

Sale of Assets; Merger. No Each Security Party shall not sell, transfer or lease (other than in connection with a Charter) all or substantially all of its properties and assets, or enter into any transaction of merger or consolidation or liquidate, windup or dissolve itself (or suffer any liquidation or dissolution) ), provided that a the Borrower may sell the Ship owned by it pursuant to the terms of this Agreement.