Control of Dispositions of Collateral and Effect thereof on Junior Liens Sample Clauses

Control of Dispositions of Collateral and Effect thereof on Junior Liens. (a) Each Party hereby agrees that any collection, sale, or other disposition of Collateral (whether under the applicable Uniform Commercial Code or otherwise) by the Credit Facility Secured Party shall be free and clear of any Lien of the Trustee in such Collateral; provided that the Trustee shall retain a Lien (having the same priority as the Lien it previously had on the item of Collateral that was collected, sold or otherwise disposed of) on the proceeds of such collection, sale, or other disposition (except to the extent such proceeds are applied to the Credit Facility Indebtedness in accordance with SECTION 3.4).
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Control of Dispositions of Collateral and Effect thereof on Junior Liens. Except to the extent, if any, expressly prohibited by the terms and conditions of Section 4.15 or Section 5.01 of the Subordinated Creditor Indenture:
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Control of Dispositions of Collateral and Effect thereof on Junior Liens. (a) Subject to the terms, conditions and restrictions set forth solely in Sections 3.10 (Offer to Purchase by Application of Excess Proceeds), 4.10 (Asset Sales), 4.18 (Designation of Restricted and Unrestricted Subsidiaries), 5.01 (Merger, Consolidation or Sale of Assets), 10.03 (Release of Collateral), 10.04 (Certificates of the Company) and 10.08 (Termination of Security Interest) of the Indenture, each Party hereby agrees that, if the Credit Facility Secured Party shall have agreed with RHC or any Subsidiary Guarantor (as applicable) that RHC or any Subsidiary Guarantor (as applicable) may sell or otherwise dispose of any item of Collateral for monetary consideration constituting net cash proceeds, then the Lien of the Trustee in such item of Collateral shall be released by the Trustee concurrently with such sale or other disposition and the net cash proceeds therefrom may, at the sole election of the Credit Facility Secured Party, be applied to the claims of the Parties in the manner provided for herein, or be used by RHC or any Subsidiary Guarantor (as applicable) for its lawful general corporate purposes.
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Control of Dispositions of Collateral and Effect thereof on Junior Liens. Intercreditor Agreement
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Related to Control of Dispositions of Collateral and Effect thereof on Junior Liens

  • Limitations on Dispositions of Collateral The Debtor will not sell, transfer, lease, or otherwise dispose of any of the Collateral, or attempt, offer or contract to do so other than dispositions of Inventory in the ordinary course of the Debtor’s business; provided, however that the Debtor will be allowed to grant licenses to its products and related documentation in the ordinary course of business and to establish or provide for escrows of related intellectual property in connection therewith.

  • DISPOSITION OF COLLATERAL AND PROCEEDS; TRANSFER OF INDEBTEDNESS In disposing of Collateral hereunder, Bank may disclaim all warranties of title, possession, quiet enjoyment and the like. Any proceeds of any disposition of any Collateral or Proceeds, or any part thereof, may be applied by Bank to the payment of expenses incurred by Bank in connection with the foregoing, including reasonable attorneys’ fees, and the balance of such proceeds may be applied by Bank toward the payment of the Indebtedness in such order of application as Bank may from time to time elect. Upon the transfer of all or any part of the Indebtedness, Bank may transfer all or any part of the Collateral or Proceeds and shall be fully discharged thereafter from all liability and responsibility with respect to any of the foregoing so transferred, and the transferee shall be vested with all rights and powers of Bank hereunder with respect to any of the foregoing so transferred; but with respect to any Collateral or Proceeds not so transferred, Bank shall retain all rights, powers, privileges and remedies herein given.

  • Locations of Collateral (a) Properties Owned by the Grantor:

  • Notice of Disposition of Collateral Debtor hereby agrees that notice of the time and place of any public sale or the time after which any private sale or other disposition of all or any part of the Collateral may be made shall be deemed reasonable if sent to Debtor, addressed as set forth in Article X, at least ten (10) days prior to (a) the date of any such public sale or (b) the time after which any such private sale or other disposition may be made.

  • Disposition of Collateral Such Grantor will not sell, lease or otherwise dispose of the Collateral owned by it except for dispositions specifically permitted pursuant to Section 6.05 of the Credit Agreement.

  • Collection Efforts, Modification of Collateral (a) The Servicer will use commercially reasonable efforts to collect, or cause to be collected, all payments called for under the terms and provisions of the Collateral Loans included in the Collateral as and when the same become due, all in accordance with the Servicing Standard.

  • POSSESSION OF COLLATERAL AND RELATED MATTERS Until the commencement of a foreclosure or liquidation to realize upon the Collateral, Borrower shall have the right, except as otherwise provided in this Agreement, in the ordinary course of Borrower's business, to (a) sell, lease or furnish under contracts of service any of Borrower's Inventory normally held by Borrower for any such purpose; and (b) use and consume any raw materials, work in process or other materials normally held by Borrower for such purpose; provided, however, that a sale in the ordinary course of business shall not include any transfer or sale in satisfaction, partial or complete, of a debt owed by Borrower.

  • No Disposition of Collateral Secured Party does not authorize, and Debtor agrees not to:

  • Application of Proceeds of Collateral Notwithstanding anything to the contrary in this Agreement, in the case of any Event of Default under Section 7.1(i), immediately following the occurrence thereof, and in the case of any other Event of Default: (a) upon the termination of the Revolving Credit Aggregate Commitment, (b) the acceleration of any Indebtedness arising under this Agreement, (c) at the Agent’s option, or (d) upon the request of the Majority Lenders after the commencement of any remedies hereunder, the Agent shall apply the proceeds of any Collateral, together with any offsets, voluntary payments by any Credit Party or others and any other sums received or collected in respect of the Indebtedness first, to pay all incurred and unpaid fees and expenses of the Agent under the Loan Documents and any protective advances made by Agent with respect to the Collateral under or pursuant to the terms of any Loan Document, next, to all principal, interest and fees owing under or in connection with the Revolving Credit (including the Swing Line), next to any obligations owing by any Credit Party in respect of any Hedging Obligations on a pro rata basis, next, to any other Indebtedness on a pro rata basis, and then, if there is any excess, to the Credit Parties, as the case may be.

  • Use and Disposition of Collateral None of the Grantors shall make or permit to be made an assignment, pledge or hypothecation of the Collateral or shall grant any other Lien in respect of the Collateral, except as expressly permitted by Section 6.02

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