Sale or Disposition of Assets. So long as the Company shall have any obligation under this Note, the Company shall not, without the Holder’s written consent, sell, lease, or otherwise dispose of all or substantially all of its assets outside the ordinary course of business unless the proceeds of any disposition of its assets shall be used to repay this Note.
Sale or Disposition of Assets. For the purposes of this Agreement,(a) the sale of as much as fifty percent (50%) of the assets of the Company or any bank controlled by the Company shall constitute the "sale or other disposition of all or substantially all of the assets" of such entity and (b) the sale of as much as twenty-five percent (25%) of the voting power of the equity securities of any bank controlled by the Company shall constitute the "sale or other disposition of all or substantially all of the assets" of the Company.
Sale or Disposition of Assets. Sell, lease or otherwise dispose of any of its Properties or permit any of its Subsidiaries or Affiliates to sell, lease or otherwise dispose of any of their Properties, including any disposition of Property as part of a sale and leaseback transaction, to or in favor of any Person if the sale, lease or disposal of such Properties would have a material adverse effect on the ability of Borrower or Guarantors to repay the Loan, except for the following (EXCLUDING any Property which is included in the Collateral or Mortgage Documents): (i) sales of inventory and leases of inventory in the ordinary course of the Borrower's business for so long as no Event of Default exists hereunder with written notice thereof to the Borrower; (ii) a transfer of Property to the Borrower by a Subsidiary; (iii) dispositions expressly authorized elsewhere in this Agreement; and (iv) any disposition of any assets or retired Property not used or useful in the Borrower's business.
Sale or Disposition of Assets. Sell, lease, or otherwise dispose of any Equipment, without the express written consent of Cat Financial.
Sale or Disposition of Assets. Sell, assign, loan, deliver, lease, transfer or otherwise dispose of property or assets, except for asset dispositions of personal property, consummated in the ordinary course of the Borrower’s or the Operating Subsidiary’s business, as applicable, provided that the fair market value of any and all such asset dispositions does not exceed One Million and No/100 Dollars ($1,000,000.00), in the aggregate, during any twelve (12) month period;
Sale or Disposition of Assets. Without the prior written consent of Lender, which consent may be withheld in Lender’s sole and absolute discretion, Borrower shall not, directly or indirectly, voluntarily or involuntarily, cause, suffer or permit (a) any sale, conveyance, pledge, mortgage, hypothecation or other transfer of any legal or equitable interest in Borrower, the Property or any Collateral, or (b) any mortgage, pledge, encumbrance or lien (except to the extent of mechanic’s liens diligently contested in accordance with the Loan Documents) to be imposed upon or attached to the Property, the Collateral or any portion thereof (a “Disposition”). No transfer, conveyance, sale, lease or other Disposition shall relieve Borrower from personal liability for its obligations hereunder or under any Loan Document, whether or not the transferee assumes this Agreement.
Sale or Disposition of Assets. Directly or indirectly sell, assign, lease, convey, transfer or otherwise dispose of all or any portion of its assets, business or property, or agree to do any of the foregoing, except (but only if and so long as no Default or Event of Default has occurred and is continuing or would result therefrom) (i) a Permitted Exchange, (ii) a Permitted ARP Distribution, (iii) a Permitted Sale, and (iv) a Permitted Payment.
Sale or Disposition of Assets. Without the prior written consent of Bank (which consent may be withheld in Bank’s sole and absolute discretion) or unless the Loan is simultaneously paid in full, Borrower shall not, directly or indirectly, voluntarily or involuntarily, cause, or permit (a) any sale, transfer or other conveyance of any legal or equitable interest in the Property or any Collateral, except for Leases, Permitted Transfers, sales and transfers of Collateral for fair market value in the ordinary course of business, or as otherwise expressly permitted under the Loan Documents, or (b) any mortgage, pledge, Lien or Encumbrance (except to the extent of mechanic’s liens diligently contested in accordance with the Loan Documents and Permitted Exceptions) to be imposed upon or attached to the Property, the Collateral or any portion thereof (a “Disposition”). No transfer, conveyance, sale, lease or other Disposition shall relieve Borrower from personal liability for its obligations hereunder or under any Loan Document, whether or not the transferee assumes this Agreement.
Sale or Disposition of Assets. Neither PC nor PEU shall sell, lease, transfer or otherwise dispose of all or, in the opinion of the Bank, a substantial portion of PC's or PEU's assets and properties, except in the ordinary course of business."
(r) Section 5.4(e) of Article V of the Loan Agreement is hereby amended by deleting paragraph (e) thereof in its entirety and replacing it with the following: <PAGE> 13
Sale or Disposition of Assets. Sell, lease, transfer or otherwise ----------------------------- dispose of the assets or properties of the BORROWER, except in the ordinary course of business, or the capital stock of any subsidiary of the Parent, other than a divestiture of assets, capital stock, or other ownership interests of any BORROWER which meets the following conditions (a "Permitted Divestiture"):
(i) the BORROWER shall provide reasonably satisfactory information and analysis to the BANK at least ten (10) days prior to completion of the divestiture concerning the effect of the divestiture upon the financial condition and operations of the BORROWER; and
(ii) immediately prior to such divestiture and after giving effect thereto, no Event of Default shall exist, including, but not limited to, any violation of BORROWER's financial covenants existing prior to or resulting from the divestiture. The BORROWER's principal financial officer shall certify as to the BORROWER's compliance with the conditions set forth hereinabove at least ten (10) days prior to completion of the divestiture.
