Sales of Receivables. The Company shall not, and shall not permit any other Company Party or any of its or their Subsidiaries to, sell, assign, discount, transfer, or otherwise dispose of any material accounts receivable, chattel paper, promissory notes, drafts or trade acceptances or other rights to receive payment held by it, with or without recourse, except for the purpose of collection or settlement in the ordinary course of business.
Appears in 4 contracts
Samples: Securities Purchase Agreement (Levine Leichtman Capital Partners Ii Lp), Securities Purchase Agreement (Overhill Farms Inc), Securities Purchase Agreement (Overhill Farms Inc)
Sales of Receivables. The Company shall not, and Parties shall not permit any other Company Party or any of its or their Subsidiaries to, sell, assign, discount, transfer, or otherwise dispose of any material accounts receivable, chattel paper, promissory notes, drafts or trade acceptances or other rights to receive payment held by it, with or without recourse, except for the purpose of collection or settlement in the ordinary course of business.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Levine Leichtman Capital Partners Iii Lp), Securities Purchase Agreement (Butler International Inc /Md/)
Sales of Receivables. The Company shall not, and Parties shall not permit any other Company Party or any of its or their Subsidiaries to, sell, assign, discount, transfer, or otherwise dispose of any material accounts receivable, chattel paper, promissory notes, drafts or trade acceptances or other rights to receive payment held by it, with or without recourse, except for the purpose of collection or settlement settlement, or sales of notes or accounts receivable on terms consistent with market terms for like kind transactions, in each of the foregoing cases in the ordinary course of business.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Quiznos Corp), Securities Purchase Agreement (Levine Leichtman Capital Partners Ii Lp)
Sales of Receivables. The Company Parties shall not, and shall not permit any other Company Party or any of its or their Subsidiaries Subsidiary to, sell, assign, discount, transfer, or otherwise dispose of any material accounts receivable, chattel paper, promissory notes, drafts or trade acceptances or other rights to receive payment held by itthem, with or without recourse, except for the purpose of collection or settlement in the ordinary course of business.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Interdent Inc), Securities Purchase Agreement (Levine Leichtman Capital Partners Ii Lp)
Sales of Receivables. The Company Parties shall not, and shall not permit any other Company Party or any of its or their Subsidiaries to, sell, assign, discount, transfer, or otherwise dispose of any material accounts receivable, chattel paper, promissory notes, drafts or trade acceptances or other rights to receive payment held by it, with or without recourse, except for the purpose of collection or settlement in the ordinary course of business.
Appears in 1 contract
Samples: Securities Purchase Agreement (Levine Leichtman Capital Partners Ii Lp)
