Sale of Substantial Portion of Assets; Subsidiaries. (a) Neither the Company nor any Subsidiary will sell, transfer, lease, exchange, convey or otherwise dispose of all or substantially all of the consolidated assets of the Company in a single transaction or series of related transactions to any Person (other than to the Company, Quaker City or any wholly-owned Subsidiary of the Company or Quaker City). (b) Neither the Company nor any Subsidiary will sell, transfer or otherwise dispose of any capital stock of any Subsidiary, except to the Company, Quaker City or any wholly-owned Subsidiary of the Company or Quaker City.
Appears in 3 contracts
Sources: Securities Purchase Agreement (Reliance Financial Services Corp), Securities Purchase Agreement (Swiss Reinsurance America Corp), Securities Purchase Agreement (Home State Holdings Inc)