Disposition of Subsidiary or Franchise. Sell to any Person other than the Company or any of its Subsidiaries, dissolve, or transfer back to the franchisor, any franchise (or Subsidiary that owns one or more franchises), unless any applicable Silo Lender with respect to any Permitted Silo Indebtedness of such franchise (or Subsidiary) has (a) taken any steps necessary so that any remaining assets of the Company and its remaining Subsidiaries no longer secure floorplan Indebtedness of such transferred franchise or Subsidiary and (b) delivered to the Administrative Agent a revised Master Intercreditor Agreement exhibit for such lender, deleting such franchise (or in the case of a sale of a Subsidiary, any franchise owned by such Subsidiary) from such exhibit or other evidence satisfactory to the Administrative Agent in its reasonable discretion that such Silo Lender will deliver such revised exhibit upon payment of amounts remaining under such transferred franchise or Subsidiary’s floorplan Indebtedness.
Disposition of Subsidiary or Franchise. Sell to any Person other than the Company or any of its Subsidiaries, dissolve, or transfer back to the franchisor, any franchise (or Subsidiary that owns one or more franchises), unless any applicable Silo Lender with respect to any Permitted Silo Indebtedness or Powersports Lender with respect to any Permitted Powersports Indebtedness of such franchise (or Subsidiary) has (a) taken any steps necessary so that any remaining assets of the Company and its remaining Subsidiaries no longer secure floorplan Indebtedness of such transferred franchise or Subsidiary and (b) delivered to the Administrative Agent a revised Silo Lender Intercreditor Agreement exhibit or Powersports Intercreditor Agreement exhibit, as the case may be, for such lender, deleting such franchise (or in the case of a sale of a Subsidiary, any franchise owned by such Subsidiary) from such exhibit or other evidence satisfactory to the Administrative Agent in its reasonable discretion that such Silo Lender or Powersports Lender will deliver such revised exhibit upon payment of amounts remaining under such transferred franchise or Subsidiary’s floorplan Indebtedness.
Disposition of Subsidiary or Franchise. Sell to any Person other than the Borrower or any of its Subsidiaries, dissolve, or transfer back to the franchisor, any Franchise (or Subsidiary that owns one or more Franchises), unless any floorplan lender with respect to any Permitted Floorplan Silo Indebtedness of such Franchise (or Subsidiary) has (a) taken any steps necessary so that any remaining assets of the Borrower and its remaining Subsidiaries no longer secure floorplan Indebtedness of such transferred Franchise or Subsidiary and (b) delivered to the Administrative Agent a revised Intercreditor Agreement schedule for such lender, deleting such Franchise (or in the case of a sale of a Subsidiary, any Franchise owned by such Subsidiary) from such schedule.
Disposition of Subsidiary or Franchise. Neither the Borrower nor any of its Subsidiaries shall sell to any Person other than the Borrower or any of its Subsidiaries, dissolve, or transfer back to the franchisor, any Franchise (or Subsidiary that owns one or more Franchises), unless any floorplan lender with respect to any Permitted Floorplan Silo Indebtedness of such Franchise (or Subsidiary) has (a) taken any steps necessary so that any remaining assets of the Borrower and its remaining Subsidiaries no longer secure floorplan Indebtedness of such transferred Franchise or Subsidiary and (b) delivered to the Agent a revised Intercreditor Agreement schedule for such lender, deleting such Franchise (or in the case of a sale of a Subsidiary, any Franchise owned by such Subsidiary) from such schedule.
