Prohibited Asset Sale

Prohibited Asset Sale. Means the sale, sale-leaseback, conveyance license, transfer or other disposition, whether direct or indirect, of any asset, business or property of Guarantor or any of its Subsidiaries, other than (i) sales and other dispositions of inventory in the ordinary course of business; (ii) sale of used, worn-out or surplus equipment in which the proceeds are either (x) reinvested in other fixed assets within one hundred eighty (180) days from the date of sale or (y) applied to prepay amounts owed... Bank under the Credit Agreement; (iii) sales and leasebacks of equipment acquired by Guarantor or any of its Subsidiaries not more than one hundred eighty (180) days prior to such sale or leaseback; (iv) non-exclusive licenses and similar arrangements for the use of intellectual property of Guarantor or any of its Subsidiaries; (v) transfers of assets between Subsidiaries of Guarantor, or from any Subsidiary of Guarantor to Guarantor; and (vi) the sale, lease, transfer or other disposition of assets by Guarantor and its Subsidiaries, up to a maximum amount of $2,000,000 in any calendar year. View More