Example ContractsClausesSale of Receivables and Other Sold Assets
Sale of Receivables and Other Sold Assets
Sale of Receivables and Other Sold Assets contract clause examples

Sale of Receivables and Other Sold Assets. In consideration of the Purchasers’ respective agreements to make Investments in accordance with the terms hereof, the Seller, on the Restatement Date, on the date of each Investment and on each other date occurring on or prior to the Termination Date, hereby sells, assigns and transfers to the Administrative Agent (for the ratable benefit of the Purchasers according to their Capital as increased or reduced from time to time hereunder), all of the Seller’s right, title and interest in, to and under all of the following, whether now or hereafter owned, existing or arising (collectively, the “Sold Assets”): # all Sold Receivables, # all Related Security with respect to such Sold Receivables, # all Collections with respect to such Sold Receivables and # all proceeds of the foregoing. Such sales, assignments and transfers by the Seller shall, in each case, occur and be deemed to occur for all purposes in accordance with the terms hereof automatically without further action, notice or consent of any party.

Sale of Receivables and Other Sold Assets. In consideration of the Purchasers’ respective agreements to make Investments in accordance with the terms hereof, the Seller, on each Sale Date, hereby sells, assigns and transfers to the Administrative Agent (for the ratable benefit of the Purchasers according to their Capital as increased or reduced from time to time hereunder), all of the Seller’s right, title and interest in, to and under all of the following, whether now or hereafter owned, existing or arising (collectively, the “Sold Assets”): # all Sold Receivables, # all Related Security with respect to such Sold Receivables, # all Collections with respect to such Sold Receivables and # all proceeds of the foregoing. Such sales, assignments and transfers by the Seller shall, in each case, occur and be deemed to occur for all purposes in accordance with the terms hereof automatically without further action, notice or consent of any party.

Sale of Assets. Sell, lease, transfer or otherwise dispose of, in any fiscal year, any of its oil and gas assets except for # sales of production from Borrower’s Oil and Gas Properties made in the ordinary course of Borrower’s oil and gas businesses, # sales made with the consent of Administrative Agent hereof; # sales, leases or transfers or other dispositions of Oil and Gas Properties made by Borrower during any fiscal year, in one or any series of transactions, the aggregate value of which does not exceed ten percent (10%) of the Borrowing Base between consecutive Determination Dates if, and only if, such sale, lease, transfer or other disposition does not result in the occurrence of a Default or Event of Default; and # sales, leases or transfers or other dispositions of Oil and Gas Properties made by Borrower during any fiscal year, in one or any series of transactions, the aggregate value of which exceeds ten percent (10%) of the Borrowing Base between consecutive Determination Dates; provided that: # at least seventy-five percent (75%) of the consideration received in respect of such disposition shall be cash, # Borrower shall provide written notice of the sale to Administrative Agent at least ten (10) days prior to closing to the extent any of the sale properties for which a partial release of the Collateral Documents is needed (and with copies of the sales agreements at least three (3) days prior to the closing), # the net sales proceeds received or other consideration received in respect of such sale or other disposition of any Oil and Gas Properties shall be equal to or greater than the fair market value of such Oil and Gas Properties; # the sale is consummated concurrently with an Unscheduled Redetermination of the Borrowing Base, # any resulting Borrowing Base deficiency after such Unscheduled Redetermination is promptly eliminated by a single lump sum payment; and # there is no existing Default or Event of Default, and such sale, lease, transfer or other disposition does not result in the occurrence of a Default or Event of Default.

Sale of Assets. The sale or transfer of all or substantially all of Borrower’s assets without the prior written consent of Lender.

Weekly Sold Receivables Report. As soon as available and in any event not later than the Weekly Reporting Date of each calendar week, a Weekly Sold Receivables Report as of the most recently completed calendar week.

Sale of Assets. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s written consent, sell, lease or otherwise dispose of any significant portion of its assets which would render the Borrower a “shell company” as such term is defined in Rule 144. Any consent to the disposition of any assets may be conditioned on a specified use of the proceeds of disposition.

Sale of Assets. The Company sells or disposes of all, or substantially all, of the Company’s assets.

Sale of Assets. The Company will not, and will not permit any of its Subsidiaries to, make any Transfer, provided that the foregoing restriction does not apply to a Transfer if:

Sale of Receivables and Other Sold Assets. In consideration of the Purchasers’ respective agreements to make Investments in accordance with the terms hereof, the Seller, on the Closing Date, on the date of each Investment and on each other date occurring on or prior to the Termination Date, hereby sells, assigns and transfers to the Administrative Agent (for the ratable benefit of the Purchasers according to their Capital as increased or reduced from time to time hereunder), all of the Seller’s right, title and interest in, to and under all of the following, whether now or hereafter owned, existing or arising (collectively, the “Sold Assets”): # all Sold Receivables, # all Related Security with respect to such Sold Receivables, # all Collections with respect to such Sold Receivables and # all proceeds of the foregoing. Such sales, assignments and transfers by the Seller shall, in each case, occur and be deemed to occur for all purposes in accordance with the terms hereof automatically without further action, notice or consent of any party.

Sale of Assets. Sell, assign, transfer, pledge or otherwise convey or dispose of, any of the Vessels or any other asset (including by way of spin-off, installment sale or otherwise) which is substantial in relation to its assets taken as a whole;

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