Structure; Disposition of Assets. The Borrower shall not merge or consolidate with or otherwise acquire, or be acquired by, any other Person; provided, however, that the foregoing prohibition on acquisitions by the Borrower shall not prohibit the Borrower from acquiring investment property in the ordinary course of its business. The Borrower shall not sell, lease or otherwise transfer any property, except for the disposition of obsolete equipment and the sale or other disposition of investment property in the ordinary course of the Borrower’s business.
Appears in 7 contracts
Samples: Credit Agreement (Tortoise Energy Infrastructure Corp), Credit Agreement (Tortoise Midstream Energy Fund, Inc.), Credit Agreement (Tortoise Power & Energy Infrastructure Fund Inc)
Structure; Disposition of Assets. The Borrower shall not merge or consolidate with or otherwise acquire, or be acquired by, any other Person; provided, however, that the foregoing prohibition on acquisitions by the Borrower shall not prohibit the Borrower from acquiring investment property in the ordinary course of its business. The Borrower shall not sell, lease or otherwise transfer any property, except for the disposition of obsolete equipment and the sale or other disposition of investment property in the ordinary course of the Borrower’s 's business.
Appears in 3 contracts
Samples: Credit Agreement (Tortoise Energy Capital Corp), Credit Agreement (Tortoise Energy Capital Corp), Credit Agreement (Tortoise North American Energy Corp)
Structure; Disposition of Assets. The Borrower shall not merge or consolidate with or otherwise acquire, or be acquired by, any other Person; provided, however, that the foregoing prohibition on acquisitions by the Borrower shall not prohibit the Borrower from acquiring investment property in the ordinary course of its businessbusiness provided that such investment property is promptly credited to the Securities Account. The Borrower shall not sell, lease or otherwise transfer any property, except for the disposition of obsolete equipment and except as otherwise permitted under the sale or other disposition of investment property in Security Agreement and the ordinary course of Control Agreement with respect to the Borrower’s businessCollateral.
Appears in 2 contracts
Samples: Credit Agreement (Tortoise Capital Resources Corp), Credit Agreement (Tortoise North American Energy Corp)
Structure; Disposition of Assets. The Borrower shall not merge or consolidate with or otherwise acquire, or be acquired by, any other Person; provided, however, that the foregoing prohibition on acquisitions by the Borrower shall not prohibit the Borrower from acquiring investment property making investments in Persons in the ordinary course of its business. The Borrower shall not sell, lease or otherwise transfer any property, except for the disposition of obsolete equipment and except as otherwise permitted under the sale or other disposition of investment property in Security Agreement and the ordinary course of Control Agreement with respect to the Borrower’s businessCollateral.
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