Common use of Sale or Transfer of Assets Clause in Contracts

Sale or Transfer of Assets. Sell, lease, assign, transfer or otherwise dispose of any Property (other than in the ordinary course of business) except for the sale or disposition of (i) Property which is not material to or necessary for the continued operation of its business and (ii) obsolete or unusable items of equipment which promptly are replaced with new items of equipment of like function and comparable value to the unusable items of equipment when the same were new or not obsolete.

Appears in 5 contracts

Samples: Subordinated Loan Agreement (Security Associates International Inc), Subordinated Loan Agreement (Security Associates International Inc), Subordinated Loan Agreement (Security Associates International Inc)

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Sale or Transfer of Assets. Sell, lease, assign, transfer or otherwise dispose of any Property (other than in the ordinary course of business) except for the sale or disposition of (i) Property which is not material to or necessary for the continued operation of its business and (ii) obsolete or unusable items of equipment which promptly are replaced with new items of equipment of like function and comparable value to the unusable items of equipment when the same were new or not obsoleteobsolete or unusable, provided such replacement items of equipment shall become subject to the Security Interests.

Appears in 3 contracts

Samples: Loan Agreement (Security Associates International Inc), Loan Agreement (Security Associates International Inc), Loan Agreement (Security Associates International Inc)

Sale or Transfer of Assets. Sell, lease, assign, transfer or otherwise dispose of any Property (other than in the ordinary course of business) except for (i) the sale or disposition of (iA) Property which is not material to or necessary for the continued operation of its business and (iiB) obsolete or unusable items of equipment which promptly are replaced with new items of equipment of like function and comparable value to the unusable items of equipment when the same were new or not obsoleteobsolete or unusable, provided such replacement items of equipment shall become subject to the Security Interests and (ii) Permitted Asset Sales.

Appears in 1 contract

Samples: Loan Agreement (Scott Cable Communications Inc)

Sale or Transfer of Assets. Sell, lease, assign, transfer or otherwise dispose of any Property (other than in the ordinary course of business) except for the sale or disposition of (i) Property which is not material to or necessary for the continued operation of its business Business and (ii) obsolete or unusable items of equipment which promptly are replaced with new items of equipment of like function and comparable value to the unusable items of equipment when the same were new or not obsoleteequipment.

Appears in 1 contract

Samples: Loan Agreement (Millers Mutual Fire Insurance Co)

Sale or Transfer of Assets. Sell, lease, assign, assign or transfer or otherwise dispose of any Property (other than in the ordinary course of business) except for the sale or disposition of (i) Property which is not material to or necessary for the continued operation of its business and (ii) obsolete or unusable items of equipment which promptly are replaced with new items of equipment of like function and comparable value to the unusable items of equipment when the same were new or not obsoleteobsolete or unusable, provided such replacement items of equipment shall become subject to the Security Interests.

Appears in 1 contract

Samples: Loan Agreement (Security Associates International Inc)

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Sale or Transfer of Assets. Sell, lease, assign, transfer or -------------------------- otherwise dispose of any Property (other than in the ordinary course of business) except for the sale or disposition of (i) Property which is not material to or necessary for the continued operation of its business and (ii) obsolete or unusable items of equipment which promptly are replaced with new items of equipment of like function and comparable value to the obsolete or unusable items of equipment when the same were new or not obsoleteobsolete or unusable, provided such replacement items of equipment shall become subject to the Security Interests.

Appears in 1 contract

Samples: Loan Agreement (Infocure Corp)

Sale or Transfer of Assets. Sell, lease, assign, transfer or otherwise -------------------------- dispose of any Property (other than in the ordinary course of business) except for the sale or disposition of (i) inventory in the ordinary course of business, (ii) Property (other than any Store) which is not material to or necessary for the continued operation of its business and (iiiii) obsolete or unusable items of equipment which promptly are replaced with new items of equipment of like function and comparable value to the unusable function, provided such replacement items of equipment when shall become subject to the same were new or not obsoleteSecurity Interests.

Appears in 1 contract

Samples: Loan Agreement (Red Robin Gourmet Burgers Inc)

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