Sale or Encumbrance. No part of the Leased Property and no part of Related Financed Property shall be sold, exchanged, leased, mortgaged, encumbered or otherwise disposed of except (i) with the written consent of VRA or (ii) as provided in any one of the following subsections:
(a) The Local Government may grant easements, licenses or permits across, over or under parts of the Leased Property or the Related Financed Property, or both, for streets, roads and utilities as will not adversely affect the use of the Leased Property or the Related Financed Property, or both.
(b) The Local Government may sell or otherwise dispose of property constituting part of the Leased Property or the Related Financed Property, or both, if it uses the proceeds of such disposition and any other necessary funds to replace such property with property serving the same or a similar function.
(c) The Local Government may sell or otherwise dispose of property constituting part of the Leased Property or the Related Financed Property, or both, with a "book value" (as determined in accordance with generally accepted accounting principles) that, when combined with the aggregate "book value" of all of the other such property sold or otherwise disposed of under this subsection during the Fiscal Year in question, will not cause the aggregate "book value" of all of such property sold or otherwise disposed of under this subsection in such Fiscal Year to exceed $125,000. The proceeds to be received from any such sale or disposition shall be applied first to cure any default that may exist in the payment of the principal of or interest on this Agreement.
Sale or Encumbrance. Except as permitted by the Credit Agreement, the Grantor will not sell, encumber or otherwise dispose of any of the Tangible Personalty except to incorporate such into the Improvements or replace such with goods of quality and value at least equal to that replaced. In the event the Grantor sells or otherwise disposes of any of the Tangible Personalty in contravention of the foregoing sentence, the Administrative Agent's security interest in the proceeds of the Tangible Personalty shall continue pursuant to this Security Instrument.
Sale or Encumbrance. Without the prior written consent of Executive and except as otherwise provided in Section 2.3(e) hereof, the Company will not (a) sell, assign, transfer, exchange or otherwise dispose of, or grant any option with respect to, the Pledged Assets, (b) create, incur or permit to exist any lien or option in favor of, or any claim of any person with respect to, any of the Pledged Assets, or any interest therein, except for the lien provided for by this Agreement. The Company will defend the right, title and interest of Executive in and to the Pledged Assets against the claims and demands of all persons whomsoever. Notwithstanding the foregoing, the Company may sell one or more of the Pledged Assets so long as the proceeds from such sale remain in the Account subject to the security interest granted by the Company to Executive pursuant to this Agreement.
Sale or Encumbrance. It shall not sell, option, assign, transfer or otherwise alienate any Collateral, other than in the ordinary course of its business and in accordance with the terms and provisions of this Agreement, or permit any Collateral or any interest therein to be subject to a Lien, except the Liens permitted by this Agreement.
Sale or Encumbrance. The Borrower will not sell, encumber or otherwise dispose of any of the Tangible Personalty except as otherwise permitted by the terms of the Credit Agreement, and agrees to incorporate such into the Improvements or replace such with goods of quality and value at least equal to that replaced. Provided, however, in the event the Borrower sells or otherwise disposes of any of the Tangible Personalty, the Administrative Agent's security interest in the proceeds of the Tangible Personalty shall continue pursuant to this Deed of Trust.
Sale or Encumbrance. Except as permitted by the Loan Agreement, the Grantor will not sell, encumber or otherwise dispose of any of the Tangible Personalty except to incorporate such into the Improvements or replace such with goods of quality and value at least equal to that replaced. In the event the Grantor sells or otherwise disposes of any of the Tangible Personalty in contravention of the foregoing sentence, the Lender’s security interest in the proceeds of the Tangible Personalty shall continue pursuant to this Deed of Trust.
Sale or Encumbrance. Except as set forth in paragraph 7 above, not to sell or attempt to sell any of the Collateral and not to create or permit any other security interest or other lien or encumbrance upon such Collateral without the prior written consent of the Lender.
Sale or Encumbrance. The Pledgor shall not sell, convey, transfer or dispose of, or create, permit or suffer to exist, and shall defend the Collateral against, any lien or any restriction upon the pledge or other transfer thereof, and shall defend the Pledgor’s title to and other rights in the Collateral and the Secured Party’s pledge and collateral assignment of and security interest in the Collateral against the claims and demands of all Persons. The Pledgor shall do nothing to impair the rights of the Secured Party in the Collateral.
Sale or Encumbrance. Except as permitted under Section 7.07 of the Acquisition Sub Credit Agreement, Pledgor agrees not to surrender or lose possession of (other than to Secured Party), sell, encumber, or otherwise dispose of or transfer any Collateral or right or interest therein and, notwithstanding any provision of the Organizational Documents, to keep the Collateral free of all levies and security interests or other Liens, charges, preferences or priorities, except those approved in writing by Secured Party.
Sale or Encumbrance. If Tenant's leasehold interest under this Lease is sold under execution, attachment or decree of court to satisfy any debt of Tenant, or if any lien (including a mechanic's lien) is filed against Tenant's leasehold interest and is not discharged within ten (10) days thereafter.
