Common use of Sale or Transfer of Assets; Suspension of Business Operations Clause in Contracts

Sale or Transfer of Assets; Suspension of Business Operations. The Borrower will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory in the ordinary course of business and will not liquidate, dissolve or suspend business operations. The Borrower will not in any manner transfer any property without prior or present receipt of full and adequate consideration.

Appears in 31 contracts

Samples: And Security Agreement (Technology Flavors & Fragrances Inc), Credit and Security Agreement (Nebo Products Inc), Subordination Agreement (Autotradecenter Com Inc)

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Sale or Transfer of Assets; Suspension of Business Operations. The Borrower will not sell, lease, assign, transfer or otherwise dispose of of: (i) the stock of any Subsidiary, ; (ii) all or a substantial part of its assets, ; or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person Person, other than the sale of Inventory in the ordinary course of business or de minimis sale of other Collateral; and will not liquidate, dissolve or suspend business operations. The Borrower will not in any manner transfer any property without prior or present receipt of full and adequate consideration.

Appears in 2 contracts

Samples: Credit and Security Agreement (Skymall Inc), Credit and Security Agreement (Skymall Inc)

Sale or Transfer of Assets; Suspension of Business Operations. The No Borrower will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory in the ordinary course of business and will not liquidate, dissolve or suspend business operations. The No Borrower will not in any manner transfer any property without prior or present receipt of full and adequate consideration.

Appears in 2 contracts

Samples: Credit and Security Agreement (Leather Factory Inc), Credit and Security Agreement (Pentastar Communications Inc)

Sale or Transfer of Assets; Suspension of Business Operations. The Borrower will (a) Company shall not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein in Collateral (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory in the ordinary course of business and will not liquidate, dissolve or suspend business operations. The Borrower will not in any manner transfer any property without prior or present receipt of full and adequate consideration.than:

Appears in 1 contract

Samples: Credit and Security Agreement (Tandy Brands Accessories Inc)

Sale or Transfer of Assets; Suspension of Business Operations. The Except as set forth in Schedule 6.17, the Borrower will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory in the ordinary course of business and will not liquidate, dissolve or suspend business operations. The Borrower will not in any manner transfer any property without prior or present receipt of full and adequate consideration.

Appears in 1 contract

Samples: Credit and Security Agreement (Digital Angel Corp)

Sale or Transfer of Assets; Suspension of Business Operations. The Neither Borrower will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory in the ordinary course of business and will not liquidate, dissolve or suspend business operations. The Neither Borrower will not in any manner transfer any property without prior or present receipt of full and adequate consideration.

Appears in 1 contract

Samples: Credit and Security Agreement (Larson Davis Inc)

Sale or Transfer of Assets; Suspension of Business Operations. The Borrower will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person Person, other than the sale of Inventory in the ordinary course of business and the sale of worn out or obsolete equipment, and will not liquidate, dissolve or suspend business operations. The Borrower will not in any manner transfer any property without prior or present receipt of full and adequate consideration.

Appears in 1 contract

Samples: Credit and Security Agreement (Winland Electronics Inc)

Sale or Transfer of Assets; Suspension of Business Operations. (a) The Borrower Debtor will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory in the ordinary course of business and will not liquidate, dissolve or suspend business operations. The Borrower will not in any manner transfer any property without prior or present receipt of full and adequate consideration.Person;

Appears in 1 contract

Samples: Replacement Security Agreement (Heartland Technology Inc)

Sale or Transfer of Assets; Suspension of Business Operations. The Borrower Borrowers will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory in the ordinary course of business and will not liquidate, dissolve or suspend business operations. The Borrower Borrowers will not in any manner transfer any property without prior or present receipt of full and adequate consideration.

Appears in 1 contract

Samples: Foreign Accounts Credit and Security Agreement (Synergetics Usa Inc)

Sale or Transfer of Assets; Suspension of Business Operations. The No Borrower will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iiiii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of its Inventory in the ordinary course of business and will not liquidate, dissolve or suspend business operations. The No Borrower will not in any manner transfer any property without prior or present receipt of full and adequate consideration.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Frontline Communications Corp)

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Sale or Transfer of Assets; Suspension of Business Operations. The Borrower will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory in the ordinary course of business and will not liquidate, dissolve or suspend business operations. The Borrower will not in any manner transfer any property without prior or present receipt of full and adequate consideration.. 28

Appears in 1 contract

Samples: Credit and Security Agreement (San Holdings Inc)

Sale or Transfer of Assets; Suspension of Business Operations. The Borrower Borrowers will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any SubsidiarySubsidiary (except in connection with the sale of the Borrowers' European operations), (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory in the ordinary course of business and will not liquidate, dissolve or suspend business operations. The Borrower Borrowers will not in any manner transfer any property without prior or present receipt of full and adequate consideration.

Appears in 1 contract

Samples: Credit and Security Agreement (Nu Kote Holding Inc /De/)

Sale or Transfer of Assets; Suspension of Business Operations. The Borrower will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than (A) the sale of Inventory in the ordinary course of business and (B) the sale of equipment in any calendar year with an aggregate book value of not more than $25,000. The Borrower will not liquidate, dissolve or suspend business operations. The Borrower will not in any manner transfer any property without prior or present receipt of full and adequate consideration.

Appears in 1 contract

Samples: Credit and Security Agreement (Futech Interactive Products Inc)

Sale or Transfer of Assets; Suspension of Business Operations. The Borrower will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iiiii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory in the ordinary course of business or the disposition of Equipment which is obsolete or unnecessary in the ongoing operation of the Borrower's business, and will not liquidate, dissolve or suspend business operations. The Borrower will not in any manner transfer any property without prior or present receipt of full and adequate consideration.

Appears in 1 contract

Samples: Credit and Security Agreement (Shop at Home Inc /Tn/)

Sale or Transfer of Assets; Suspension of Business Operations. The Borrower Borrowers will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory in the ordinary course of business and will not liquidate, dissolve or suspend business operations. The Borrower Borrowers will not in any manner transfer any property without prior or present receipt of full and adequate consideration.

Appears in 1 contract

Samples: Patent, Trademark and License Collateral Assignment and Security Agreement (Synergetics Usa Inc)

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