Changes in Collateral Sample Clauses
The "Changes in Collateral" clause defines the procedures and requirements for modifying the collateral that secures an agreement. It typically outlines how parties can request substitutions, additions, or releases of collateral, and may specify conditions such as notice periods, approval processes, or valuation requirements. This clause ensures that both parties have a clear framework for managing collateral adjustments, thereby reducing disputes and maintaining the intended level of security throughout the contract's duration.
Changes in Collateral. Pledgor shall advise Secured Party promptly, completely, accurately, in writing and in reasonable detail: (a) of any material encumbrance upon or claim asserted against any of the Collateral; and (b) of the occurrence of any event that would have a material adverse effect upon Secured Party’s security interest.
Changes in Collateral. Debtor shall give prompt notice to Lender of any threatened or asserted dispute or claim with respect to the Collateral, which could reasonably be expected to materially and adversely affect the Collateral.
Changes in Collateral. Whether or not an Event of Default has occurred, Obligor authorizes Sellers to:
Changes in Collateral. The undersigned authorizes the Agent whether through its Bailee or otherwise to: (a) whether or not an Event of Default has occurred, to receive and hold as additional collateral any non-cash increases in or profits or distributions, or non-cash dividends on the Collateral;
Changes in Collateral. The undersigned authorizes the Agent whether through its Bailee or otherwise to: (a) whether or not an Event of Default has occurred, to receive and hold as additional collateral any non-cash increases in or profits or distributions, or non-cash dividends on the Collateral; (b) if an Event of Default has occurred, surrender the Collateral and receive any payment or distribution upon redemption, dissolution or liquidation of the issuer of the Collateral; If the undersigned receives any of the payments or distributions contrary to the provisions described above, the undersigned agrees to turn them over to the Agent for the benefit of the Lenders.
Changes in Collateral. Each Pledgor shall advise the Collateral Agent promptly, completely, accurately, in writing and in reasonable detail: (a) of any material encumbrance upon or claim asserted against any of the Collateral; and (b) of the occurrence of any event, other than changes in general market conditions adequately reported in the general news media, that would have a material adverse effect upon the aggregate value of the Collateral or upon the Collateral Agent's (for the ratable benefit of the Lenders) security interest.
Changes in Collateral. Whether or not an Event of Default has occurred, the undersigned authorizes Home Properties to:
Changes in Collateral. The Borrower will keep the Collateral separate and identifiable at the Borrower’s business premises and will not remove the Collateral from said location without the Lender’s written consent. The Borrower shall promptly notify Lender in writing of any proposed change in the location or ownership of the Borrower’s business. The Borrower shall be allowed to improve or replace any portion of the Collateral with collateral of greater or equal value without prior consent of the Lender. In the event Borrower does replace any Collateral with collateral of greater or equal value, Borrower shall not be obligated to give Lender any of the proceeds from the prior held collateral.
Changes in Collateral. Whether or not an Event of Default has occurred, the undersigned authorizes Chase to:
(a) receive and hold as additional collateral any non-cash increases in or profits on the Collateral; and/or
(b) surrender the Collateral and receive any payment or distribution upon redemption, dissolution or liquidation of the issuer of the Collateral. If the undersigned receive any of the payments or distributions described above the undersigned agrees promptly to turn them over to Chase.
Changes in Collateral. Borrower shall immediately notify Bank of the acquisition and location of any Property constituting Collateral not acquired as inventory or as accounts generated from inventory.