Transactions similar to security Sample Clauses

Transactions similar to security. The Borrower shall not: 16.11.1 sell, transfer or otherwise dispose of any of its assets on terms whereby it is or may be leased to or re-acquired or acquired by it or any of its related entities; or 16.11.2 sell, transfer or otherwise dispose of any of its receivables on recourse terms, except for the discounting of bills or notes in the ordinary course of trading, in circumstances where the transaction is entered into primarily as a method of raising finance or of financing the acquisition of an asset.

Transactions similar to security. 34 15.10 BORROWINGS ...................................................... 35 15.11 DISPOSALS ....................................................... 35 15.12

Transactions similar to security. The Borrower shall not: (i) sell, transfer or otherwise dispose of any of its assets on terms whereby it is or may be leased to or re-acquired or acquired by the Borrower or an Affiliate excepting where the assets to be disposed of have a book value or fair market value equivalent to 10% or less of the book value or fair market value of the Borrower’s assets; or (ii) sell, transfer or otherwise dispose of any of its receivables on recourse terms, except tor the discounting of bills or noses; in the ordinary course of trading, in circumstances where the transaction is entered into primarily as a method of raising finance or of financing the acquisition of an asset:

Transactions similar to security. The Borrower shall not without the prior consent of the Majority Banks:- (a) sell, transfer or otherwise dispose of any of its material assets on terms whereby it is or may be leased to or re-acquired or acquired by a member of the Group or any of its related entities; or (b) sell, transfer or otherwise dispose of any of its material receivables on recourse terms, except for the discounting of bills or notes in the ordinary course of trading, in circumstances where the transaction is entered into primarily as a method of raising finance or of financing the acquisition of an asset.

Transactions similar to security. The Borrower shall not, and shall procure that no other member of the Group will sell, transfer or otherwise dispose of any of its assets on terms whereby it is or may be leased to or re-acquired or acquired by a member of the Group or any of its related entities in circumstances where the transaction is entered into primarily as a method of raising finance or of financing the acquisition of an asset other than: (a) in connection with Finance Leases permitted in accordance with Clause 19.26(a) (Financial Indebtedness); (b) in connection with QTE Leases permitted in accordance with Clause 19.26(a) (Financial Indebtedness); or (c) any goods acquired in the ordinary course of the Borrower's business which are transferred upon acquisition back to the vendor thereof in relation to the financing of the acquisition price thereof so long as the amount of the Financial Indebtedness incurred in relation to the financing of the acquisition would not cause any limit on Financial Indebtedness contained in Clause 19.26 (Financial Indebtedness) to be breached and that Financial Indebtedness is incurred after the Signing Date, provided that, in relation to any Finance Lease or QTE Lease, such security interest relates solely to the assets which are the subject matter of such lease.

Transactions similar to security it will not (and shall procure that no other member of the Borrower Group will): (i) sell, transfer or otherwise dispose of any of its assets on terms whereby it is or may be leased to or re-acquired or acquired by the Borrower or any member of the Borrower Group or any of its or their Affiliates; or (ii) sell, transfer or otherwise dispose of any of its receivables on recourse terms, except for the discounting of bills or notes in the ordinary course of trading, in circumstances where the transaction is entered into primarily as a method of raising finance or of financing the acquisition of an asset;

Transactions similar to security prior to the Guarantor IPO Date, the Guarantor will not, and will procure that no other member of the Guarantor Group shall: (i) sell, transfer or otherwise dispose of any of its assets on terms whereby it is or may be leased to or re-acquired or acquired by the Guarantor or any other member of the Guarantor Group or any of its or their Affiliates; or (ii) sell, transfer or otherwise dispose of any of its receivables on recourse terms, except for the discounting of bills or notes in the ordinary course of trading, in circumstances where the transaction is entered into primarily as a method of raising Financial Indebtedness or of financing the acquisition of an asset;

Transactions similar to security. Without prejudice to Clauses 21.4 (Sale or other disposal of a Ship), 26.3 (Financial Indebtedness) and 26.6 (Disposals), neither the Borrower nor any of the Upstream Guarantors shall: (a) sell, transfer or otherwise dispose of any of its assets on terms whereby that asset is or may be leased to, or re-acquired by, any Subsidiary of any Obligor other than pursuant to disposals permitted under Clause 26.6 (Disposals); (b) sell, transfer, factor or otherwise dispose of any of its receivables on recourse terms (except for the discounting of bills or notes in the ordinary course of business); (c) enter into any arrangement under which money or the benefit of a bank or other account may be applied, set-off or made subject to a combination of accounts; or (d) enter into any other preferential arrangement having a similar effect, in circumstances where the arrangement or transaction is entered into primarily as a method of raising Financial Indebtedness or of financing the acquisition of an asset.

Transactions similar to security. (a) The Borrower shall not, without the prior consent of the Bank: (i) sell, transfer or otherwise dispose of any of its assets on terms whereby it is or may be leased to or re-acquired or acquired by a member of the Group or any of its related entities; or (ii) sell, transfer or otherwise dispose of any of its receivables on recourse terms, except for the discounting of bills or notes in the ordinary course of trading, in circumstances where the transaction is entered into primarily as a method of raising finance. (b) Paragraph (a) does not apply to Permitted Security Interests.