Common use of Sale or Transfer of Assets; Suspension of Business Operations Clause in Contracts

Sale or Transfer of Assets; Suspension of Business Operations. Company shall not, and shall not permit any Subsidiary to, sell, lease, assign, transfer or otherwise dispose of (a) the stock of any Subsidiary, (b) all or a substantial part of its assets, or (c) any Collateral under this Agreement or any collateral under any of the other Security Documents or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory by Company in the ordinary course of business and shall not liquidate, dissolve or suspend business operations. Company shall not, and shall not permit any Subsidiary to, transfer any part of its ownership interest in any Intellectual Property Rights and shall not permit its rights as licensee of Licensed Intellectual Property to lapse, except that Company or any Subsidiary may transfer such rights or permit them to lapse if it has reasonably determined that such Intellectual Property Rights are no longer useful in its business. If Company or any Subsidiary transfers any Intellectual Property Rights for value, Company or such Subsidiary, as applicable, shall pay the Proceeds to Xxxxx Fargo for application to the Indebtedness. Company shall not license any other Person to use any of its Intellectual Property Rights, except that Company may grant licenses in the ordinary course of its business in connection with sales of Inventory or the provision of services to its customers.

Sale or Transfer of Assets; Suspension of Business Operations. Company shall not, and shall not permit any Subsidiary to, sell, lease, assign, transfer or otherwise dispose of (a) the stock of any Subsidiary, (b) all or a substantial part of its assets, or (c) any Collateral under this Agreement or any collateral under any of the other Security Documents or any interest therein in Collateral (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory by Company in the ordinary course of business business, the disposition of Collateral no longer useful in its business, and other Collateral having a fair market value not in excess of $100,000 in the aggregate for each fiscal year and shall not liquidate, dissolve or suspend business operations. Company shall not, and shall not permit any Subsidiary to, transfer any part of its ownership interest in any Intellectual Property Rights and shall not permit its rights as licensee of Licensed Intellectual Property to lapse, except that Company or any Subsidiary may transfer such rights or permit them to lapse if it has reasonably determined that such Intellectual Property Rights are no longer useful in its business. If Company or any Subsidiary transfers any Intellectual Property Rights for value, Company or such Subsidiary, as applicable, shall pay the Proceeds to Xxxxx Fargo for application to the Indebtedness. Company shall not license any other Person to use any of its Company’s Intellectual Property Rights, except that Company may grant licenses in the ordinary course of its business in connection with sales of Inventory or the provision of services to its customers.

Sale or Transfer of Assets; Suspension of Business Operations. Company shall not, and shall not permit any Subsidiary to, sell, lease, assign, transfer or otherwise dispose of (a) the stock of any Subsidiary, (b) all or a substantial part of its assets, or (c) any Collateral under this Agreement or any collateral under any of the other Security Documents or any interest therein in Collateral (whether in one transaction or in a series of transactions) to any other Person other than (i) the sale of Inventory by Company in the ordinary course of business and (ii) the sales of product lines, Equipment, facilities, and real property that are obsolete or being phased out of use for business purposes or have reached the end of their useful life to Company in an amount not to exceed $1,000,000 in the aggregate without the prior consent of Wxxxx Fargo delivered to Company in an Authenticated Record. Company shall not liquidate, dissolve or suspend business operations. Company shall not, and shall not permit any Subsidiary to, transfer any part of its ownership interest in any Intellectual Property Rights and shall not permit its rights as licensee of Licensed Intellectual Property to lapse, except that Company or any Subsidiary may transfer such rights or permit them to lapse if it has reasonably determined that such Intellectual Property Rights are no longer useful in its business. If Company or any Subsidiary transfers any Intellectual Property Rights for value, Company or such Subsidiary, as applicable, shall pay the Proceeds to Xxxxx Fargo for application to the Indebtedness. Company shall not license any other Person to use any of its Company's Intellectual Property Rights, except that Company may grant licenses in the ordinary course of its business in connection with contract manufacturing, sales of Inventory or the provision of services to its customers.