Common use of Transfers of Collateral Clause in Contracts

Transfers of Collateral. (i) The Company shall not, and shall not permit any Restricted Subsidiary to, sell or otherwise Transfer any Property constituting Collateral, except Transfers for an Acceptable Consideration of obsolete or worn-out equipment constituting Collateral, or excess equipment constituting Collateral, in each case that is no longer useful in the business of the Company or such Restricted Subsidiary, if each of the following conditions would be satisfied with respect to such Transfer: (A) the sum of

Appears in 2 contracts

Samples: Note Purchase Agreement (Smithfield Foods Inc), Note Purchase Agreement (Smithfield Foods Inc)

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Transfers of Collateral. (i) The Company shall not, and shall not permit any Restricted Subsidiary to, sell or otherwise Transfer any Property constituting Collateral, except except: (i) Transfers for an Acceptable Consideration of obsolete or worn-out equipment constituting Collateral, or excess equipment constituting Collateral, in each case that is no longer useful in the business of the Company or such Restricted Subsidiary, if each of the following conditions would be satisfied with respect to such Transfer: (A) the sum of

Appears in 1 contract

Samples: Amendment Agreement (Smithfield Foods Inc)

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Transfers of Collateral. (i) The Company shall not, and shall not permit any Restricted Subsidiary to, sell or otherwise Transfer any Property constituting Collateral, except except (i) Transfers for an Acceptable Consideration of obsolete or worn-out equipment constituting Collateral, or excess equipment constituting Collateral, in each case that is no longer useful in the business of the Company or such Restricted Subsidiary, if each of the following conditions would be satisfied with respect to such Transfer: (A) the sum of

Appears in 1 contract

Samples: Note Purchase Agreement (Smithfield Foods Inc)

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