Common use of Sale or Transfer of Assets Clause in Contracts

Sale or Transfer of Assets. Except in the ordinary course of business, or except as consented to in writing by DFS, Borrower and the Subsidiaries will not sell, transfer, lease (including sale-leaseback) or otherwise dispose of all or any substantial part of the Collateral. This provision will not apply to any sale if the proceeds of such sale pay the Obligations in full.

Appears in 2 contracts

Samples: Loan and Security Agreement (Western Power & Equipment Corp), Loan and Security Agreement (Travis Boats & Motors Inc)

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Sale or Transfer of Assets. Except in the ordinary course of business, or except as consented to in writing by DFS, Borrower and the Subsidiaries will not sell, transfer, lease (including sale-leaseback) or otherwise dispose of all or any substantial part of the Collateraltheir assets or any portion of their assets which would be construed as a sale in bulk under any applicable provincial bulk sales legislation. This provision will not apply to any sale if the proceeds of such sale pay the Obligations in full.

Appears in 1 contract

Samples: Business Credit and Security Agreement (Gt Bicycles Inc)

Sale or Transfer of Assets. Except in the ordinary course of business, or except as consented to in writing by DFS, Borrower and the Subsidiaries will not sell, transfer, lease (including sale-leaseback) or otherwise dispose of all or any substantial part of the Collateraltheir assets. This provision will not apply to any sale if the proceeds of such sale pay the Obligations in full.

Appears in 1 contract

Samples: Business Credit and Security Agreement (Creative Computers Inc)

Sale or Transfer of Assets. Except in the ordinary course of business, or except as consented to in writing by DFS, Borrower and the Subsidiaries will not sell, transfer, lease (including sale-leaseback) or otherwise dispose of all or any substantial part of the Collateraltheir assets. This provision will not apply to any sale if the proceeds of such sale pay the Obligations in full.

Appears in 1 contract

Samples: Loan and Security Agreement (Rdo Equipment Co)

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Sale or Transfer of Assets. Except in the ordinary course of business, or except as consented to in writing by DFS, Borrower and the Subsidiaries will not sell, transfer, lease (including sale-sale- leaseback) or otherwise dispose of all or any substantial part of the Collateraltheir assets. This provision will not apply to any sale if the proceeds of such sale pay the Obligations in full.

Appears in 1 contract

Samples: Business Credit and Security Agreement (Creative Computers Inc)

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