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 except for (i) the sale or disposition of (A) inventory in the ordinary course of business, (B) Property which is not material to or necessary for the continued operation of its business and (C) 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 or unusable, provided such replacement items of equipment shall become subject to the Security Interests, (ii) Trade Out Transactions consummated in connection with promotional or other activities, all of which shall be conducted by Borrower in the ordinary course of business consistent with past practices, and (iii) asset sales with respect to which Borrower has obtained Lenders' prior written consent, which consent may be given or withheld in the sole and absolute discretion of Lenders.

Sale or Transfer of Assets. Sell, lease, assign, transfer or otherwise dispose of any Property except for (i) the sale or disposition of (A) inventory in the ordinary course of business, (B) Property which is not material to or necessary for the continued operation of its business and (C) 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 or unusable, provided such replacement items of equipment shall become subject to the Security Interests, (ii) Trade Out Transactions consummated in connection with promotional or other activities, all of which shall be conducted by Borrower in the ordinary course of business consistent with past practices, practices and (iii) asset sales Asset Sales with respect to which Borrower has obtained Lenders' prior written consent, which consent may be given or withheld in the sole and absolute discretion of Lenders.