Common use of Termination of Business Clause in Contracts

Termination of Business. Unless subject to the prior written consent of the Agent, the determination of the Loan Parties, whether by vote of the Loan Parties’ board of directors or otherwise to: suspend the operation of the Loan Parties’ business in the ordinary course, liquidate all or a material portion of the Loan Parties’ assets or Stores, or employ an agent or other third party to conduct any so-called store closing, store liquidation or “Going-Out-Of-Business” sales (other than in connection with a Permitted Asset Disposition).

Appears in 7 contracts

Samples: Term Loan and Security Agreement (Destination Xl Group, Inc.), Revolving Credit Note (Casual Male Retail Group Inc), Loan and Security Agreement (Casual Male Retail Group Inc)

AutoNDA by SimpleDocs

Termination of Business. Unless subject to the prior written consent of the Agent, the determination of the Loan Parties, whether by vote of the Loan Parties' board of directors or otherwise to: suspend the operation of the Loan Parties' business in the ordinary course, liquidate all or a material portion of the Loan Parties' assets or Stores, or employ an agent or other third party to conduct any so-so- called store closing, store liquidation or "Going-Out-Of-Business" sales (other than in connection with a Permitted Asset Disposition).

Appears in 1 contract

Samples: Loan and Security Agreement (Designs Inc)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.