Common use of Sales of Assets and Subsidiary Stock Clause in Contracts

Sales of Assets and Subsidiary Stock. Convey, sell, lease or otherwise dispose of (or agree to do any of the foregoing without the Agent's prior written consent) all or any part of the property or assets of a Subsidiary of Borrower with a value in excess of $1,000,000 unless Borrower or such Subsidiary receives consideration at the time of such disposition at least equal to the fair market value, as determined in good faith by the board of directors of such Person (including a determination as to the value of all noncash consideration), of the shares and assets subject to such disposition. The Net Sale Proceeds of any disposition shall be applied in the manner set forth in SECTION 4.3.

Sales of Assets and Subsidiary Stock. Convey, sell, lease or otherwise dispose of (or agree to do any of the foregoing without the Agent's ’s prior written consent) all or any part of the property or assets of a Subsidiary of Borrower with a value in excess of $1,000,000 unless Borrower or such Subsidiary receives consideration at the time of such disposition at least equal to the fair market value, as determined in good faith by the board of directors of such Person (including a determination as to the value of all noncash consideration), of the shares and assets subject to such disposition. The Net Sale Proceeds of any disposition shall be applied in the manner set forth in SECTION Section 4.3.

Sales of Assets and Subsidiary Stock. Convey, sell, lease or otherwise dispose of (or agree to do any of the foregoing without the Agent's prior written consent) all or any part of the property or assets of a Subsidiary of Borrower with a value in excess of $1,000,000 unless Borrower or such Subsidiary receives consideration at the time of such disposition at least equal to the fair market value, as determined in good faith by the board of directors of such Person (including a determination as to the value of all noncash consideration), of the shares and assets subject to such disposition. The Net Sale Proceeds of any disposition shall be applied in the manner set forth in SECTION Section 4.3.