Common use of Transactions similar to security Clause in Contracts

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;

Appears in 2 contracts

Sources: Facility Agreement (China Netcom Group CORP (Hong Kong) LTD), Facility Agreement (China Netcom Group CORP (Hong Kong) LTD)