Common use of Sales of Receivables; Sale - Leasebacks Clause in Contracts

Sales of Receivables; Sale - Leasebacks. Sell, discount or otherwise dispose of or permit any Subsidiary to sell, discount or otherwise dispose of notes, accounts receivable or other obligations owing to such entity, with or without recourse, except for purposes of collection in the ordinary course of business; or sell or permit any Subsidiary to sell any asset pursuant to an arrangement to thereafter lease such asset from the purchaser thereof.

Appears in 3 contracts

Samples: Credit Agreement (United Capital Corp /De/), Security Agreement (United Capital Corp /De/), Credit Agreement (Genovese Drug Stores Inc)

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Sales of Receivables; Sale - Leasebacks. Sell, discount or otherwise dispose of or permit any Subsidiary to sell, discount or otherwise dispose of notes, accounts receivable or other obligations owing to such entity, with or without recourse, except for purposes of collection in the ordinary course of businessbusiness or sales on an arm's length and non-recourse basis at fair market value; or sell or permit any Subsidiary to sell any asset pursuant to an arrangement to thereafter lease such asset from the purchaser thereof.

Appears in 1 contract

Samples: Credit Agreement (United Capital Corp /De/)

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Sales of Receivables; Sale - Leasebacks. Sell, discount or otherwise dispose of or permit any Subsidiary to sell, discount or otherwise dispose of notes, accounts receivable or other obligations owing to such entity, with or without recourse, except for purposes of collection in the ordinary course of business; or sell or permit any Subsidiary to sell any asset pursuant to from an arrangement to thereafter lease such asset from the purchaser thereof.

Appears in 1 contract

Samples: Credit Agreement (Technology Flavors & Fragrances Inc)

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